All Forum Posts by: Jason Caputo

Thanks Tom, I just bought my first deal at Auction; it is a foreclosure due to a tax lien. The previous owner removed the kitchen in entirety and some of the landscaping, among some other small items. My mentor and I split the deal, and we bought it for 11,700. ARV is 79,440 right now. The total renovations will cost us $15K. Rental income is 820-900 per month for the house size in this area. My mentor wants to rent it for a year then sell.

We are in discussions on which avenue to take after the repair. He does buy and holds often and owns of 200 properties in this area. He also discussed wanting to get into flipping. We are having lunch today; hopefully we can talk about his plans, and why he wants to wait a year. Either way, not a bad deal for my first one. He already has a construction team he utilizes. It will be interesting to oversee the renovations myself. I can't say that I am not nervous. But, also excited I stepped over the "fear" factor. 

Thank you both for the advice! I would have to agree that learning from people who have over 10 years of experience is definitely worthwhile. I think many new investors live in the paralysis of fear, of doing something wrong. Perhaps that is not everyone's experience but it has been my experience. The biggest thing for me is getting over that fear!

Regards,

Jason

Tommy,

Thanks for the advice. I am actually a very positive person and in retrospect I do agree with your statement. I look forward to adding value to Bigger Pockets in the future, as well as, gaining value. I am learning that as investors we have to be careful where we invest our money. That was the whole point in my post. There is so much to learn here on Bigger Pockets. I hope that in the future I will also be able to provide value to new investors.  

Be well,

Jason

Hello Todd,

Yes, I did go to college. I became an RN. After many years in the field (I want to forget what I learned due to the horrible things you see in the medical field) from abuse and beyond. I did invest money in a course and I did take a lot out of it. That was my stepping stone to learning more. The problem I had is that every time I turned around they wanted more money. I learned many facets and even had a 1 on 1 coaching program. Turned out the coach did not seem to know much more than I do. While I do not want to mention the name of the the program I bought because I don't want to bash anyone the information was good but not enough to avoid possible legal issues in real estate. 

I think the bottom line of it is that the courses can be valuable but the claims of experienced investors helping you along the way is not valuable. I am using some of the information I learned from that course to take the steps to take action. Although, I have found that reading real estate books and real estate broker course books has taught me a lot about local laws and regulations and investing. Although, even with the books I ask my mentor questions. I am definitely not here to "bash" anyone at all. 

I definitely do not pretend to know it all. I hope that helps clarify for you. I am definitely not a course hopper. 

Jay

Steve,

Thank you for your post. I agree with you about "respecting the business." Of which, I honestly do. My point was merely that some of those "gurus" specifically want your money and do not teach all aspects of real estate. I do not pretend to know it all about real estate, because I don't. With each day, I learn more and that is important to me. I have attended local REIA meetings, and actually have attending seminars on real estate investing. My problem with some of them is that the points you take away are awesome but in the end it is just another way to delve into the pockets of a new investor.

The mentor I have has been in Real Estate for almost 25 years; albeit he does mostly buy and holds but we have agreed that if I find deals we split the profit with him teaching me the value of what he knows. He has done flips but wants to do more. I have no problem whatsoever paying someone for their knowledge. I believe that real estate does not make one a millionaire over night like some say but in the future it does aid some financial security that many do not have nowadays. 

When I first started this I thought I must be crazy. The more I learn the more intrigued I become. I am by far not young. But, I truly thank you for your insights. Any insight that I receive is very valuable to me. Be well!

Jay

Thank you Michael! I am definitely getting closer. I have been doing a lot of networking and building a buyers list. Sometimes networking can be exhausting! Although, definitely worth it. It is very similar to building relationships over a period of time. It seems difficult sometimes because when you are new they know it. Definitely a great learning experience as well.

Hello Everyone!

There are many things I would like to say to "new investors" that I have learned on my own. First off, don't waste your time on all the so-called "gurus" what they are selling is motivational talk and then they give you nothing once you are in. These people were not good enough to continue investing in real estate so they had to "re-brand" their desperation to take "other people's money. I will get off that soap box. 

I am still in the learning stage and have not done my first deal because of still being in the learning phase. What I have done is read a lot and not off the Internet entirely. I actually did go to the old fashioned library and started reading any Real Estate Book I could get my hands on. I even bought a real estate broker book and read that. I think as new investors we see the dollar signs and walk a dangerous path that could put us in legal trouble when following the so-called real estate gurus. It may take more time; but the best advice I can say is invest that time and money in yourself. When you feel as if you have enough knowledge in your bag, consider a mentor. Someone in your area who can and will give you sound advice. I have a gentleman who is a real estate investor in my area and has agreed to "show me the ropes." Network with people as much as you can in person!

The biggest question you have to ask of those gurus is if they made so much money in real estate? Why are they "selling" you a course on how to invest in real estate? They should be out there investing in real estate. What many new investors do not realize is that real estate investments do require money.  I would love to get to know some of the experienced investors here! Would also be great to hear how you got started? I look forward to meeting people in my local area!

Regards,

Jay