All Forum Posts by: Harold Henderson

I've been to a Renatus meeting and follow up and I cannot honestly hold the quality of their service suspect. True, I have not signed up, but if you remove the financial aspect from the education program then you would see how they actual appear to be a real world, brick and mortars Bigger Pockets. Heck, the main speaker at the meeting I went to is on this very thread, so not only is he himself a BP member, but that adds a level of legitimacy to it. Are any "gurus" members here? That's not defending Renatus, that's like a genuine question.

 It seems the major complaints come from the price of admission, which I happen to agree with. I mean on one hand, you get what you pay for. On the other hand, if the ultimate education package( there are 3) was offered significantly cheaper, fewer people would actually see much value in it. It's sort of like the Cash Flow board game. When they were developing it they couldn't produce it at a certain (reasonable) price point. What they did was decide to go the opposite way and inflate the price to like $200 dollars or something and I'm sure many of us on BP have played that game still.  

Also, there is the whole issue of personal accountability. I think it's important to understand what you're getting into as best you can, no matter what it is. The education marketing aspect doesn't turn me off. (It doesn't exactly turn me on either). But Renatus seems to be like an actual university level avenue to REI. Seeing it from that perspective eliminates the whole idea of whether or not it's a scam. Viewing it as a real estate course or a real estate investment seems to feed negative opinions, but seeing it as a structured education program with available profit opportunities is a whole other thing.

As a counterpoint to my seemingly positive view of Renatus, the person who invited me is CLEARLY focused on the marketing end. But should that turn me away? I'm a big boy. I know how things work. A few things, anyway. So I don't demonize this guy for choosing to focus on the sales end of it. Heck if I choose to follow through and market the education, that's the kind of guy I need to partner with, anyway! But the option to market the education, focus on investing exclusively, both, or neither is there.  That's my opinion anyway, and opinions are like buttholes, right?

This same thing happened to me a few weeks back. The tenant in one of the units was unaware of the showing and refused to let us enter. I had no issue with that. I did however have an issue with the exterminator waiting outside who approached as my realtor and I reached the door. Apparently, they didn't want him inside either. Red flag?

Everyone has to start somewhere. It appears to be common for new investors to seek the guidance of those with experience and I make no claim to be different. As much as I'd like to deny it, I'm a virtual blank slate when it comes to wholesaling. I've read books and I have the most basic understanding of the process, but analyzing deals (necessary repairs, repair costs, arv, etc) is a little confusing.

I understand the importance of offering value to a potential partner and getting just the right deals already under contract to your specifications without you working to find them sure sounds valuable to me. That's what I hope to offer. I'd like to think that the investment of your time will reap financial rewards again and again, but I cannot honestly make such a promise no matter how sincere my intentions may be.  If you are an experienced wholeseller then I'm sure it's safe to say that someone once took some time to show you the ropes.

If you'd like to gain personal and financial fulfillment through contributions to the education of this new investor then please reply. I'd love to here from you.  

There's actually a spot just around the corner from the occupied unit for sale also. It's less expensive and unoccupied. I'm not committed to any property just yet, but if I purchased a property without tenants, how would I screen them exactly? I apologize in advance if the question is too vague or if the answer is obvious but I'm still new at this.

I've come across a property that meets major criteria, ie location and price. One potential bonus is that it's already occupied with tenants. I must admit that that information set the warm fuzzies ablaze as finding tenants would be one less thing to worry about for my first investment property. On the one hand, it seems like the stars are aligning in my favor. On the more level headed, practical side I don't want to let my emotions take over and impulsively jump into a potentially bad situation. I've heard it's best to screen tenants yourself or at least have final word over who occupies your property. I've already requested more info on this property and I'm dying to find out why the owner is selling in the first place. Oh, and I actually lived near this location so I'm familiar with the schools and neighborhood. It even comes with a built in exit strategy... worse case scenario, I evict the tenants and live there myself. By my calculations the base monthly expenses ( including taxes and insurance, minus cashflow from renting it out) would be the same as I pay in rent right now. Almost exactly the same!

But, back on point, is it advisable to pursue an already occupied property and why or why not? I can already hear the "NOOOOOO's"... or maybe that's just my imaginary friend Cpt. Winky the snuggle monster talkin' to me again.

@Brett Goldsmith Not sure. I've been looking at a lot of properties. I assume they're all officially foreclosed as I've come across none labeled "pre" foreclosure. I'm using ForeclosureListings.com and they have no auction info included ( which would actually be pretty helpful, now that you mention it). I've come across no REO info either, but in fairness I haven't checked out the contact info of all of them. It's completely possible that a bank is listed as the contact for some of them. Do you advise one above the others?

@Matthew Olszak Yeah, I guess there really is no down side in sending them info on properties I'm actually interested in.

Just qualified for a conventional mortgage loan and plan on using it for an investment property. I have no intentions on using the entire amount I qualify for so I've been looking at foreclosure listings online which fall well below my price range. Nice, right? Well, the realtors I've been working with have sent me no foreclosures as purchase options, but I find many myself online. I have no experience with foreclosures but I think serious consideration should be given to the foreclosure market as it seems to make good financial sense. My question is, should I inform the realtor about the properties or should I try to pursue the property on my own. If I go at it alone, if possible, how would I find any potential liens or other expenses attached to the property not listed on the site. And what unexpected expenses should I even look for?

Thanks for the welcome everyone. Sorry for the late response but I'm  still trying to navigate through this site a little at a time.  

What's up, BP?

New guy here from the Chicagoland area ready to take the plunge into real estate investing. I have no experience with real estate so here I am, ready to absorb everything I can in order to embark on a successful real estate investment career. While I have no direct real estate experience I do come with certain other qualities. A strong work ethic in general and a realistic outlook and expectations. I don't expect to get rich quick. In fact I asked myself, ' If I had a choice between a quick yet unreliable system to generate wealth or a system to generate wealth slowly that is virtually guaranteed, which would I choose?'. Well, in this case I'd rather be the tortoise than the hare. Also, I'm old enough to stay focused while still being young enough to accept some potential risk.

I'm very excited to start this journey, ( currently in the process of purchasing my first property), and also to become part of the Bigger Pockets family.