All Forum Posts by: Jess White

@Charles S. I wouldnt. Very rarely would someone pass on a property if you dont have one. IMO its just more liability and not worth it. However Im speaking from my side of the country where it rarely gets below freezing. It may depend on your location, If you are in the arctic Midwest, it might be a decent idea. Good question!

@Cassi Justiz very true. No need to kill the golden goose too soon. Thanks for the insight

I have been building a new construction single family, and will be done in March. The plan was to rent it out for 1650$ once completed. All in costs are around 160-170K. Appraisal is 208k. However, I’m now getting interests in buyers asking if I’d like to sell, etc. It’s not even on the market yet, or complete and the interest is strong. My question is this, would you sell or would you rent it? Part of my strategy is reducing my taxable income by getting the great write offs that real estate produces, but the allure of quick cash is tempting. If I do decide to sell, are there any ways to prevent/delay the gains from being taxed, if rolled into another property, or something. Help me out folks!

@Terrell Garren love this, Terrell. Im at the tolerating stage.. I think proof of concept over time is everything.

@Joe Splitrock and then and the end of the date, tell her the real reason you are there and pull out your brochure of Herbalife. Sounds great in theory, but whatever you do dont put pressure on her to read it. Or else it will not happen, make her want it without pushing her to do it.

@Nathan G. 100% raise the rent.

@Joe Splitrock , I really respect you replying. However, I wholeheartedly disagree. You bring up statistics. Statistics are what everyone brings up when you mention not going to college. "Statistically you will make more money if you get a degree" etc. If we as real estate investors want to base our life decisions on mass statistics, we wouldn't be in real estate. We wouldn't start businesses. Why? Statistically speaking its foolish. Statistics say you should invest in your 401k and get a good stable job and never take chances. 

I always laugh at the alternative that people mention if you don't go, or drop out. As if the alternative will be sitting around your house eating donuts and playing video games. If you go do that instead of college, then absolutely, yes college is a great idea. 

However, if you're a forward thinker and you decide instead of college, to take four years of your life and go work for the best real estate investors in town - for free. Don't ask for a dime. Work your tail off, sweep floors, send their mailers, take out the trash, learn how to sell, learn the process, read 50 books in a year, listen to every last one of the BP podcasts, get tons of No's, knock on doors, get stressed, frustrated, and fail. Go do that, and tell me that was a terrible idea while your college friends get their PolySci majors and crippling debt. 

Think outside of the masses. Challenge the unchallenged. 

@Karen Margrave crushing college debt, delayed adult decision making, chronic alcohol abuse, pushed political agendas. Yep, no one has ever gotten hurt from going:)

@Jack B. Very Industrial Age advice.

@Caleb Heimsoth degree has nothing to do with correlation of success. If you are great at what you do, people hiring you could give a flip what kind of Alma Mater you have. When I hire anyone, the last thing on my mind is where they went to school. All I care about is are they great at what they do. I would argue he made the smarter move to swim upstream and not follow the bologna advice that college is the only answer, and only failures drop out. You clearly value your time, and realize there is much better out there. To anyone telling him he made a bad move, or go back to school, evaluate that advice. The world is changing. The mindless consumption of formal education, will keep you on target with the masses. Get stupid good at something, or things, and no one will care about your 4 year left handed puppetry degree. They care that you deliver, that you have work ethic, that youre a hard worker, and that you can provide value. Remember the quote, Formal Education will make you a living, self education will make you a fortune.