Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Gerard J.

Gerard J. has started 2 posts and replied 52 times.

Post: How to Invest Out of State Seminar

Gerard J.Posted
  • Senior Network Engineer
  • Castle Rock, CO
  • Posts 53
  • Votes 30

Do you ever conduct these meetings on webinar? I just finished your book last week and reading it over again, slowly this time, to take notes. I really enjoyed the book and would love to hear more from you. First step for me is gather as much knowledge. And then after that maybe gather more confidence to venture out there in the unknown. :) 

Post: New Member for Colorado

Gerard J.Posted
  • Senior Network Engineer
  • Castle Rock, CO
  • Posts 53
  • Votes 30

Welcome @Brett G.

Post: Vent! Why is real estate investing so shady!?!?

Gerard J.Posted
  • Senior Network Engineer
  • Castle Rock, CO
  • Posts 53
  • Votes 30
Originally posted by @Jerryll Noorden:

I know everyone will say it is good to network and yada yada yada.

Seems to me that everyone seems to be "friendly" but they all have their own hidden agenda. I can't put my finger on it, but I just get such a bad taste in my mouth with these meetups.

The first meet up I went to I introduced myself and said I want to invest in entire CT. OMG I got chewed out. NOO you will never make it, start small, do one city first, you do not know the market it went on and on. I just nodded and smiled and thought to myself. This is the last time any of you will see my face...

@Jerryll Noorden But Damn! You got a mighty impressive resume though. Would you say, RE for you is "not rocket science"? :-p

Post: Colorado Springs Real Estate Investor Association

Gerard J.Posted
  • Senior Network Engineer
  • Castle Rock, CO
  • Posts 53
  • Votes 30

Very interested in this meetup. I'll try to make it out from Denver.

Post: Social Media presence

Gerard J.Posted
  • Senior Network Engineer
  • Castle Rock, CO
  • Posts 53
  • Votes 30

Congrats on passing the RE exam! I too am considering getting my license, if only for having access to the MLS. I used to have my license in CA 10 years ago but never did anything with it.

I think networking is an integral part of your success in this business. BP is only one of the many ways you can network. But I think it also depends on your goals. For me I would like to invest out of state so it's important to me that I get to know people from many different places that I can share ideas and bounce ideas from. But if you are a very social person as you say, it might work out better for you if you start meeting people in person by joining your local real estate meetups first. 

For many that are somewhat socially introverted, social networking works best because they don't have to meet these people face to face first, which can sometimes feel very awkward. Social networking allows you to "break the ice", in a way, until one is comfortable meeting others in person. In order to develop a solid social media presence, it's a must that you post often and contribute to discussions (just like I'm doing now) :) But that takes time to cultivate. People will need to see your name and face more often in this site before you can build trust and rapport. By the way, when I refer to social media in the context of this discussion, I'm referring to the BP forums. 

I have FB, Instagram, Twitter, and such but I don't use them for real estate purposes - not yet. I think that's what this forum and the whole BP community is for. I would start cultivating relationships here first. And once you develop a rapport with the good folks here, then maybe expand that relationship with them beyond BP by linking with them through FB, Twitter and the likes.

Just my .02 cents!  

Post: BRRRR - How do you guys eat?

Gerard J.Posted
  • Senior Network Engineer
  • Castle Rock, CO
  • Posts 53
  • Votes 30
Originally posted by @Jim D.:

@Erik W. the BRRR numbers in your original post don't sound feasible to me. Here are the numbers on a BRRR duplex I am just finishing:

Purchase: $85,000
Rehab and holding costs: $25,000
Rent: $1820 

I am refinancing on a 30-year fixed and expect the appraisal to come in around $150,000, so my monthly payment will be around $750. BRRR is a great strategy, but the rent-to-price ratio needs to be higher than the numbers in your post to make it a worthwhile investment.

@James Marshall Those are great looking numbers. Is that the norm where you invest in or is it the exception?

Post: BRRRR - How do you guys eat?

Gerard J.Posted
  • Senior Network Engineer
  • Castle Rock, CO
  • Posts 53
  • Votes 30

@Alexander Felice

@Alexander Felice Hey so I read your blog on your deals. Is it this blog post you're quoting above? http://brokeisachoice.com/2018/01/12/rental-4-or-h...

I really love how you broke everything down from your analysys down to the steps you took and the thought process you went through to get to your final product. You should post some of those on this community (or link to it) as I'm sure it'll help a lot of beginning investors like me to follow a real world example.

Post: Buying a property with section 8 Tenent.

Gerard J.Posted
  • Senior Network Engineer
  • Castle Rock, CO
  • Posts 53
  • Votes 30

@Alexander Felice I don't know why my last post wouldn't let me tag you.

Post: Buying a property with section 8 Tenent.

Gerard J.Posted
  • Senior Network Engineer
  • Castle Rock, CO
  • Posts 53
  • Votes 30
Originally posted by @Alexander Felice:

have you ever rented to section 8 before?

They are my highest paying, most stable, and easiest to deal with tenants.

July 1st is less than 4 months away, by the time you close it'll be even shorter. Hardly seems worth making a big deal about, if they don't pay in between you can evict.

@Alexander Felice Pretty interesting take. Good to hear an opposing view to what I usually see everywhere where the common theme is stay away from Section 8. Do you have a tighter screening process for Section 8 tenants or do use the same criteria for all prospective tenants?

Post: Newbie from Fairfield County, CT

Gerard J.Posted
  • Senior Network Engineer
  • Castle Rock, CO
  • Posts 53
  • Votes 30

Welcome to the BP community.