All Forum Posts by: John Hamilton

Hi @Justin Green Thanks for sharing and congrats on your grit and determination.

Time with your family will return much more than any property.

I am at that point (in between contracts as an IT Project Mgr) of being in business for a little less than 3 months. However, I've gained some momentum and have continued to grow my business and starting to see the benefits. I still have yet to complete a deal in my many partnerships. However, I am on the brink of at least 1 deal and see the potential of many more closing over the next couple of months.

Without a job and any savings to speak of, it's hard for me to give up the J O B for hopes. However, I feel I could make as much or much more in just several months doing real estate. Determination, a level-head, a creative mindset, good resources and networks/partnerships, and a plan 6 years in the making should get me to a better point a year from now without a job. 

Congrats and much success in the future. You should be worlds away a year out from where you're at now.

John

@Account Closed do what @Joel Owens said. The best way for you to make the most of your free time and hopefully the quickest way to getting some income...

Hello @Josh Romero

My thinking is a Property management company and an attorney (or a legalize friend in the business) would do wonders for your situation.

You need contracts. Look in resources in BP, if you can. I think you need to be a pro member. Ask property management company for suggestions or maybe they have general contracts. They can market for tenants.

Look on Craigslist for some free material like carpet, cubes, paint, ceiling tiles. Then, throw a cosmetic update party with your school mates and you all do the work. You supply the pizza and keg for their help.

Maybe get a small equity loan from a small local bank against the property. Something that you can manage payments on your small budget.

Divide the spaces as much as possible to maximize the amount of tenants. Or you'll have to charge market rents based on square footage for the area.

Much success

@Account ClosedI just read from @David Dey about something similar. Read his latest post and it might give you some inspiration on how to navigate through your situation...How do you eat an elephant? One bite at a time.

Deal with the biggest lien and work your way through each one subordinate.

Much success,

John

Exactly! How do you think I came up with mine :)

@David DeyThanks for the scenario and the actual progress through this very lucrative deal.

It was easy to see how real estate investors have to be good at chess, develop a plan of attack, know how to play poker, and make the most of a situation. All while minimizing the liability and maximizing the benefit. 97.9% of investors would have walked from the deal with the amount of hurdles to overcome. So, I guess an REI has to be a track star, too.

You know, I'm thinking that there may be an opportunity missed here. Then again, it may be a waste of time because of the sheer volume of wholesalers who market in your area.

Aren't we supposed to mentor on this site?

If someone who claims to be a wholesaler presents a "deal" to you, and you know differently from just a quick surface check, a little correction or expectation of criteria, might be just enough to do 1 of 2 things: 1) Absolutely nothing (no love lost and you tell them never to contact you if that's what they're going to be presenting, OR 2) have someone working for you to bring you exactly what you need.

Now, of course, the mentoring may go deeper. If they show interest in learning reality, at least from your perspective, that contact may be the best free investment you've ever had. Wouldn't you have wanted that when you started as a wholesaler, investor, or RE professional?

Peace Out!

I would print off the sex offender website information and send it to all your tenants as a PSA. Don't mention the renter by name or identify. However, stress that due to the nature of these type of criminals, their children are at risk.

I would follow someone else's advice and call the PD to see if he is indeed registered.

This guy being so friendly with little girls is a sure sign he will do it again. Make their life extremely difficult to rent from you. Constant inspections, have police cruise through the apartments every now and then, warn the neighbors with little girls that someone in the neighborhood is a convicted child molester. 

Hopefully, he will be so frustrated that he will move on. Tell him you'd be willing to break the lease at any time. No questions, no money, just go.

To protect yourself and your tenants and their children, consult an atty and the PD.

 North Highlands can be a rough area. Sometimes rural. Depends on where. Here's to making a successful deal.

 Agreed...most "investors" and the reason behind it. I always thought if I could just get 1 deal done, I would have enough to keep the train rollin'...maybe I was naive.

I wasn't necessarily thinking of credit reporting, but just circles of lenders, especially in a small world like BP, word can get around. However, true that there are lots of lenders out there that probably wouldn't get the memo.