All Forum Posts by: William T.

@Saim Chaudhry Don't be discouraged, vacant properties can be a good deal if you buy it at the right price. Code violations can possible lead to motivated seller's, contact them to see what their situation is and provide a solution. This is a great way to gain experience which was also my strategy.

@Brandon Godboldt Welcome to the BP community, I would start off listening to the podcasts and reading the BP Beginner Investment Guide. It will be a lot of information but you will learn a lot of different things really fast.

@Christian D. Welcome to the community and enjoy the riches of information found on the site. I agree with @Elizabeth Colegrove , you will have to know your community or surrounding areas to know what the market is like. Most people would advise you starting with a SFR to get use to being a landlord and to start better cash flow. Listen to the BP podcasts and you will answer your question even better.

@Account Closed Your list of books are great and I have read a 3rd of them. I have changed my strategy to a buy and hold investor instead of wholesaling which I will do also. My books for 2014:

How to stay motivated: Developing the qualities of success Zig Zigler

The E myth Accountant Michael Gerber

Keys to Success : The 17 Principles of Personal Achievement

and about 7 more and I have gained so much knowledge with the book recommendations, like the E myth, the Millionaire Mind, and Think and Grow Rich. It has changed mindset and caused immediate personal growth. Another good book is Dale Carnegie "how to win friends and influence people", really good.

I would also like to start farming Indiana with the help of a fellow wholesaler. Can anyone provide a good area (zip code) to start farming in. Also what counties are the areas of interest. Info is much appreciated....

That's amazing how many people have reviewed my profile.... wow!

@Dave Grosse I am certainly not saying you are incorrect however it is probably different in every state. I have been advised specifically about advertising deals so I am not flagged by the RE commission of marketing properties for purchase as if I was a RE agent. I would follow up with your attorney to double check and avoid any unnecessary pitfalls.

@Kristi Moore I wish you the best of luck and share you success stories.

Not sure what your question is?

For depreciation purposes, I'd obviously prefer to shift value from land to the improvements. but hate to give up thousands in depreciation if there is a defensible way around it. Any recommendations?

So is your question, how do you keep your depreciation cost?

@Brittney Jefferson Have you joined a local REIA group or two? Have you visited several title companies to ask the same questions and getting to know the staff at various locations? Not all title companies are the same and do the same services but people in your local REIA will know who are the best ones to suit your needs. Network with local wholesaler's and your questions will already be answered. Good luck...

@Corey Dutton The most important skill IMHO is not the same for everyone. It really depends on the person, their morals and values, and goals in life. Can you define happiness for you and I, will it be the same, or maybe it will be much different. Happiness is very important in life, I have read several books with this concept; The Millionaire Mind and How to win friends and influence people. Both of these books have really changed my perception of life and interaction with others. Even with the examples in both books, not everyone defined happiness as being important but most did. I can't wait to see other's thoughts.