All Forum Posts by: Jeff Berry

I know of a property that is a foreclosure that I am trying to submit an offer to. The seller is requiring proof of funds to be submitted with the offer. In order to get funding I have to have the property under contract but in order to get the property under contract I have to have proof of funds. 

$190k ARV - $30K repairs - $130k offer but have to have proof of funds. Looking for advice on how to move forward to see if the offer will be accepted.

Good morning BP family,

I am coming into a small inheritance. My parents were simple folks. Did not need much, didn’t have many earthly possessions, but saved enough to give their children a small inheritance. They lived a long and happy life. Unfortunately this year was the end of life on earth for my father who spent the last 18 months of his life mourning the loss of our mother.

Being the youngest sibling of nine children, I know it is my duty to grow this small amount into a fortune in which I can pay it forward to those who are in need. I have been able to provide a comfortable life for my wife and daughters who I am indebted to greatly. I owe them even more in this life as I am not a perfect man by any accounts. I am looking at real estate investing because of the many opportunities for wealth building it provides.

I am unsure where to turn as I have yet to find the right people to be around. I have attended many REIA's in the area but haven't been able to connect fully yet with the right people. I will continue to do this until I can connect with those who enjoy building lasting relationships. Until then my question is ....

What would you do with an extra $10,000 as to not lose it to dumb decisions?

@Bruce Lynn @Ingrid Chavez

Thank you for the advice! I will check them out. I appreciate your help today. If there is anything I can do in return, it would be a pleasure to see if I can help.

Hello BP family and friends,

Could you use another set of eyes looking for your next deal? Do you have a need for investing in New Braunfels, San Marcos, Seguin, Cibolo or anywhere between Austin and San Antonio?

If so, I want to help y’all search for the right deals to grow your investment business in this area. What areas are you interested in and what are you looking for? Let’s connect and see what we can find together. I am not soliciting for your time, talent, or treasure. Just truly wanting to help as many people as I can become as successful as they can.

Reply to the post, send a PM, or request a connection.

Be Great,

Jeff

@Ethan G. 

Not really. I do like the idea of a face to face meeting. 

If we can get on the same page that is all that matter ultimately. Team building and advice undefined

I will give them a call, do you know if the do Self Directed IRA's?

Good Morning BP friends! 

Can anyone direct me to a reputable attorney in the San Antonio or Austin areas that can help me understand more about the Self Directed IRA's and establishing one? Preferably an attorney that also specializes in real estate transactions as well.

In advance, thank you all for you input!

Jeff

@Jesse Robert Zamarripa III - I hear it all the time. Someone asks for help to get started and as investors we are here to help in anyway we can.

It is true you have to know what cards you are playing with. 

1). Figure out you WHY. Why do you want to invest in real estate? Not because of the money but something much bigger, what is that to you?

2). Make a budget and a personal financial statement, its probably going to be ugly in the beginning more like showing you how much debt you truly have, IF, you take a hard look at yourself. - There are examples in the file section of BP or message me for some examples.

3). Read as much as you can on the topic of Millionaire mindset. You have to think big to achieve big. - Pretty good selection on BP website or local library.

4). Listen to podcasts instead of the radio or watching the game. (This was the most difficult for me in the beginning as football is life). - There is a pretty good selection on BP

5). Browse through the information on BP, you will be amazed at the amount of information available for free. And when you get your finances in order to spend a little extra there is a ton more information as a Pro member.

6). Attend local REIA's in your area. Get around people doing what you want to do. Most first meetings are free to attend. - You can find them on BP website or a meetup like website.

7). Get educated in what it means to invest in real estate, first! - A ton of material on BP website.

It is true that you cannot invest in real estate without knowing where you are financially and correcting any of the discrepancies that are in need of attention. How can you get your finances in order if you were never taught what that means. Do some basic math to figure out what you are working with and develop a plan to get you to your why.

But that is what is truly great about investing in real estate, if everyone would just educate themselves on the topic, it really is that simple. Simple, but not easy!

My recommendation, follow Uncle G., Grant Cardone everywhere you can find him. Tune into BP podcasts and the free Webinars that are given weekly. You will begin to realize what you have to do in order to invest in real estate. 

Good luck! Stay positive!

Jeff

BP friends, I hope this makes sense in the description of the situation but in need of some guidance of whether I can help with this situation or not.

The situation is, an acquaintance has a SFH with a mother in law quarter in back that is rented. The property is in step-dads name only. Step-dad has passed away. The acquaintances mom has been married to step-dad for over thirty years. Step-dad has a son from a previous marriage who has now become the heir to the estate as step-dad did not have a will. The acquaintance helped mom and step-dad get a re-finance loan and has been making payments on the loan and taking the rent payments from the tenants. Mom is elderly as well and is currently not living in the main house. The heir is trying to evict the current renters and are trying to market on Zillow the property is for rent.

Is there any way to help the acquaintance out with getting the property into his name now that step-dad has passed away?

Jeff

@Justin M. thanks for the information. I will be in attendance tomorrow evening at the Hilton airport meetup for Multi family investing. Looking forward to making lifelong friends and changes. Be great!