Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Jerry Stanford

Jerry Stanford has started 21 posts and replied 447 times.

Post: 1st Rehab

Jerry StanfordPosted
  • Chicago, IL
  • Posts 469
  • Votes 81

Post: 1st Rehab

Jerry StanfordPosted
  • Chicago, IL
  • Posts 469
  • Votes 81

@Zach Mitchell...are they nationwide??

Post: To Guru or Not to Guru...

Jerry StanfordPosted
  • Chicago, IL
  • Posts 469
  • Votes 81

@Scott Steffek...I agree that there are too many people that over analyze before making a move but remember that there are many who do not. I hadn't gotten past wholesaling because that's what you do as a new person in investing when you have no money and no credit right?? All the books and articles and such tell you it's not a good idea to do a rehab out the gate, right?? Yeah, wholesaling didn't go well for me. Didn't know about BP then, didn't know about REIA's, didn't have a cash buyer's list, didn't have anything but the mentorship I had bought and paid for that when I lost my job, I couldn't pay for any more. What do I do?? I kept plugging away. I kept researching the only way I knew how. You don't know what you don't know. I think I still have a few sellers that are PO'd at me but apparently I haven't given up or I wouldn't be here right now, would I?? I get you Scott, and I'm far from oblivious to the stumbling blocks and mistakes that are going to be encountered and made along the way but not everyone is exposed to or aware of what is truly out there. How many new people come onto BP and say they didn't know this site existed and how long has it been in existence?? Don't take it for granted that everyone has all the info sitting right in front of them just for the taking. They don't. You'd be surprised, even as a realtor, how many people realize what they don't know about real estate when I tell them things but as a realtor they come to me and ask me about. It may seem simple to you and me but it's not simple or cut and dry for them. Your experience Scott was one that showed it can be done, which is a great inspiration, but a person should not be discouraged if they cannot brave the wild like Scott did and they should not be told they are not doing something right if it does not happen for them like that. Sure anyone can go to meetings and forums but it won't magically put a big "I" on their chest where they can take the real estate world by storm just by doing these things. Tutoring exists for a reason. Not because everyone doesn't have access to the same type of information and learning but because it still may not be clear to them and they may need a bit of extra help. Sometimes simply asking a question here or there doesn't make it clear for every person no matter how many forums you go to, post in, look up, etc...and no one should be made to feel that they are not doing all they can because it's not crystal clear to them after doing all of that and after "just doing it". I've gotten plenty of information, but for me, it didn't fit all together until I sat with another investor and put all those pieces out of the table and he helped me put them together and I could see a better picture. All the forums, REIA's, internet searches and books didn't do that...my time with him did....I got back up on the saddle but I got tired of having a sore behind...he helped me to see why I kept falling off the saddle. Every person in a gym will not get the same results doing the same workout...each person needs the workout that will help them for where they are and for what they need. Doing the same workout that someone has gotten great results from doesn't mean that you will too and it doesn't mean that you are not trying if that workout doesn't make it happen for you. It means you need something different for your success. A new person should not be made to think that are not serious because they are not following someone else's thoughts or ideas of what they should be doing to be successful but there are folks out there who do just that and I've encountered them. LOL...I asked one question about mobile homes and I was told "if you have to ask that question then you shouldn't be trying to invest in real estate". I've never done real estate before and I'm trying to learn. I looked up everything I could and didn't see it so I asked a question and that was the response I got. Wasn't a guru either. Was a referral from someone else. Didn't stop me from getting into real estate but when you consistently run across people like that, you wonder why the gurus become attractive to a new person. I appreciate your offer of assistance Scott and I plan to take you up on it. I just hear and see a lot of guru bashing and instead of doing that, I would like to see and hear of more JV's with neophytes and pros and vets where both get something beneficial from the partnership that proves how much better it is to have BP and REIA's to network and JV with than to follow the guru train.

Post: 1st Rehab

Jerry StanfordPosted
  • Chicago, IL
  • Posts 469
  • Votes 81

@Zach Mitchell...Thank you for that.  One of the REIAs I attend has a vendor that issues vacant insurance and I have been meaning to check into it. 

Post: Newbie in San Antonio TX

Jerry StanfordPosted
  • Chicago, IL
  • Posts 469
  • Votes 81

Welcome to BP @Lisa Lu!!!

Post: To Guru or Not to Guru...

Jerry StanfordPosted
  • Chicago, IL
  • Posts 469
  • Votes 81

Some kids learned to drive by watching their friends, other adults, watching Dad fix the car on the weekends, took the drivers' ed course in high school and then got the guts to sneak the keys one night and take a joy ride for that first drive and brought the car back in pristine order.  Some kids hit the curb, bent the rim, backed into the light post, got grounded and then Dad took 'em to the empty lot at night to drive around slowly teaching them the difference between the break and the accelerator. Everyone is different. Everyone learns differently. In my other life, I work as a medical coding auditor.  This is someone who takes the details of a doctor's or hospital visit and turns them into numerical codes for insurance companies and researchers to use to simplify the story of what happened during the visit as far as the patient's illness/injury and the treatments received. I am certified by a national board and must take continuing education every two years. I've had many people come to me who have seen what I have done in my 10 year career as a medical coder and auditor who have asked for my guidance in helping them not only pass their certification test but to help them in their various locations whether it was at a hospital or at a doctor's office.  I've often been told that I should teach others as I seem to know more and make it much simpler than many of the schools who charge hundreds even thousands of dollars for the education.  It is still something I am considering doing.  I have not hesitated to help those in need even though there are numerous resources online and a multitude of forums that can be used to ask questions.  I even have a facebook group for that reason.  I'm sure there are some people out there who don't need all of that and can read the guidelines and handbook and can follow every piece of information there is and do exceedingly well without any outside input at all. There are some that have read all the books, have done the examples, even have classes and courses at big name universities and it still does not make sense to them despite studying it over and over again.  I was and am that guy.  Sometimes that one-on-one just make the light bulb come on in a way that nothing else does and I have seen over and over again not only for myself but for others that I have helped to mentor in my own field. I believe the same can be said and is true for real estate investing.  

Post: 1st Rehab

Jerry StanfordPosted
  • Chicago, IL
  • Posts 469
  • Votes 81

Thanx @Jesus Minier...will do

Post: 1st Rehab

Jerry StanfordPosted
  • Chicago, IL
  • Posts 469
  • Votes 81

Same to you @Jarvis Smith!!

Post: To Guru or Not to Guru...

Jerry StanfordPosted
  • Chicago, IL
  • Posts 469
  • Votes 81

@Scott Steffek...Many people are afraid to do it. Many more are not. Many can pull the trigger and it will still not be effective. You made an assumption and it was incorrect. I do not want someone to carry me or place me into an RE business. Would never ask anyone to. Will always give whatever I have and can to make any partnership work. Never have asked for handouts. I did just go and do it and I failed....three times. I apologize if I gave the impression that I would want a handout for myself or anyone else. I mentioned that instead of giving $20K or so to a guru, it could be given to a pro or vet or used to JV on a deal. I know a contractor that JV's on deals where he does the work if the investor acquires the property and they split 50-50. There can be all kinds of agreements so that it can be made worthwhile for the seasoned investor. There's nothing in anything that I've posted that would suggest I would want any investor to spend their hard earned money on anyone for anything other than what would be profitable to both the investor and the neophyte. BP and REIA's can be a great start and offer a wealth of information, but once again, that's not always enough for everyone and the reason is not pure laziness or fear. You had one type of experience that worked great for you. Excellent!!! That's not always the way for everyone and what is successful for you, will not be successful for everyone. Know that kid in class that always knew the answers and was the first to put his/her hand up?? Know the kid that always sat in the back of the room and never answered any questions at all?? Everyone is different and learns differently. Not every avenue will work for everyone no matter how well paved it is. For me, I learn better with a little one-one-one for a minute. I know many others that are like me. I know many others learn differently than I do. I'm speaking for myself and those that learn as I do. I can read every bit of info but that one-on-one mentoring and follow up has always been priceless for me and had allowed me to be successful in any endeavor I have undertaken, real estate or otherwise.