All Forum Posts by: Ryan K.

Hi Edgar,

If I could restart everything over, yes I would have still gone to college, but I would have done it on my terms, (see below).

1. I would have gone to school at a cheap community college for two years to get an Associate Degree (in some field that could help the real estate career I was trying to build).

2. I probably would have gone to finish my Bachelor's for the remaining 2 years but it would have been at a discounted rate at a localized campus for an in-state college (for example, the local Penn State near my home). I would have lived at home this entire time to keep expenses at a minimum. During this time I would have been running wholesale deals to offset tuition.

3. I would use the 2 or 4 year degree I obtained to feed the real estate business I was building.

If I was age 17 now or back in 1999 when I was actually 17, the path would probably have remained the same for schooling. I still find value in schooling. When you are young, 4 years seems like forever. When you get to the middle of your life, 4 years goes by in the blink of an eye.

Schooling basically comes down to 3 things for me.

1. How much money is it going to cost to obtain the degree?

2. Will the degree actually help me get started in my real estate career?

3. If the degree helps to land a good paying job, then how long do I have to stay working before I can break away and become financially free and/or transition into a real estate career full time?

Best wishes!

Aden, 

I wish I had a son with your level of enthusiasm! It's a breath of fresh air seeing someone at your age thinking about the future and planning ahead. You sound like you are already on the path of success by having acquired mentors you can trust. My advice to you is to "market yourself". Establish a plan of what you want to do in real estate, whether it's buy and hold, wholesale, flip, etc. Whatever it is, aim to be "the guy" people think about locally for your niche. Maybe create a real estate website and start marketing yourself. Continue networkiing. Continue reading. Your most powerful asset is your mind. Challenge yourself. It will keep you on your toes and always thinking outside the box. You'll close the deals that others can't and you will be highly successful. Best wishes!

RE investing is like football. Why? Because we sometimes find ourselves down in the trenches, trying to maneuver our way through trouble...(by avoiding hits and crushing blows), while trying to make some progress forward...(yards) every day.

Many of us even attempt the occasional Hail Mary...(like swooping in to purchase a property at tax sale).

Hi Hunter,

I encourage you to stay positive. It's easy to lose heart after getting turned down for financing. The deals will come, with or without the bank. In the meantime, I recommend reading Buy and Sell Real Estate Without Using a Bank. It's from 2009 and has become dated, but it's an excellent read. It might help create some outside the box thinking. If you can network, hustle, and seek out motivated sellers, you'll find that you are able to close some deals without a bank. There's a bright side to everything. In these trying times of COVID, your current financial situation actually is pretty decent compared to a lot of others. 

Best wishes my friend.

Hi Robert,

Marlen (above) makes an excellent point regarding impressive personal traits. But having been in your situation once before, I would take it a few steps further. #1). This might be said far too often in life, but just "be yourself" around your mentor. Show him you have real fire and passion and are willing to dive right in. Mentors often love to see newbie zeal. Sometimes, it makes them think back to when they had a mentor and reminds them of the passion and enthusiasm they initially had when they started out. #2). When I first met my mentor, I was just his student. I wanted to "impress him" so I created a website along with a brand new business. That really impressed him.  As luck would have it, he had been trying to start a similar business for years. My mentor finally ended up asking me to go into business with him. The rest is history. I hope this provides you with inspiration starting your career. Best wishes.

Since BP only allowes (1) company in your forum signature, which is practically unbelieveable, does anyone know how I can edit my forum signature information? After registering 2 companies, I'm totally locked out from updating my contact inofrmation in my forum signature. This appears to be a site bug???

BP Support Team,

I own two companies and have them both set up for my forum signature. When I toggle back and forth between the companies in my forum signature, I cannot get the URL or the phone number to update on one of the ompanies, even though I have the correct information on the company page. The forum signature seems "stuck" showing info. for one company and I can't figure out why. Can someone please help? I've included a screenshot to show the problem. I pasted two signatures showing the duplicate information that is incorrectly being displayed. How do I get fixed?

is what I want to do considered legal?

The terms I draw up with the seller would spread out the additional 25K over X amount of years on more favorable terms. Also, if I got a 100K mortgage on a 100K proprty, there's no equity to draw from to make updates ot the house. I'm mostly concerned about having a property I can live in (primary residence) and use equity to update/fix up.

I'm looking to buy  a home that appraised 1 year ago for 100K. The seller owes 65K on the mortgage. I want to get a conventional mortgage for the 65K, and wipe out the sellers mortgage. If I did this, would I have instant equity in the property? 

Then I plan privately draw up paperwork with the seller and RE attorney for the remaining amount (we've privately discussed the actual amount, (90K), so I don't have to get a higher mortgage. 

If I follow this plan, would I have instant equity, or would the bank not allow that? Also, would the bank allow me to buy a home so far below the appraised value?