All Forum Posts by: John Gillum

I definitely agree with the enjoyment aspect. I work 2 jobs throughout HS and I enjoyed the work but I gave up sports and time with friends to do it. Not always the best move.

A big thing I wish I had done different was reading self improvement and financial books. Developing a strong financial understanding while you're young is huge. I'm 28 just starting this journey but my entire life would be different had I started in HS.

Richest man in Babylon

Rich Dad Poor Dad

Never Split the Difference

These are some of the first books i recommend to read!

Awesome job though, Keep up the good work!

Thank you for that, I'll check it out.

Ok so I joined BP about 3 years ago. The first 2 years I was on here was really just me trying to educate myself more about investing in general. About a year ago I decided to just jump in and get started. It was a struggle. I really didn't know what to do to get started or even how I wanted to invest.

I decided my first goal was to discover what forms of investing i want to do. I made a goal, in January, that this year i would complete 1 wholesale, 1 flip, and purchase at least 1 rental. Over the course of the year i started a part time job working for a wholesaler as his acquisitions specialist. Fancy title I know. But it has been a great way for me to learn more about walking properties, inspecting, and negotiating contracts. I also decided to become an agent and am now a realtor with eXp Realty.

The main thing is I met that goal this year. My first and only solo wholesale was pure education. it took 3 months and was a lot of fun. I completed a flip, made good profit and put most of the return into my first rental. I'm now finishing up my second flip and am closing on a duplex on Friday. Now I'm looking ahead to expanding my means and build new goals for next year.

I am still active duty Navy, and I'm still working for the wholesaler. We are working on systems to keep more properties and flip them in house. This is where the new conundrum comes in. We have a lot of resources and contacts. We have worked hard to find good contractors. Our leads keep flowing. We have more properties than we can handle right now. Our main concern is Private money funds. As we are building more of the inhouse flipping side of the company, capital to move these deals is all we seem to be missing.

BP has completely change my life and my outlook. I am grateful for what I have learned through this organization. So when we hit this snag, i knew where to turn. I need help understanding how to attract more private money to our business. If anyone has suggestions for this please respond.

I appreciate any advise you have.

Thank you all!

Ok, do you know if the new package includes similar benefits? I would put this particular property as a B, though most of the neighbors are seniors, I do expect a younger generation to want to rent it. Thank you for the info and stats. Oh and what specifically do you look out for while screening tenants during this pandemic. 

While I do appreciate the advice, and I am constantly reading about real estate and listening to the podcast, I haven't found much information on how Covid has affected these areas. That is what I am interested in learning about. I am really curious about other landlords experiences with the changes from this past year, and how it has affected their decision making.

Hello everyone,

So I am just starting out in the Tri-cities area of TN. I am looking at a SFH property in Kingsport as a potential rental. I am confident in my numbers, but as this is my first rental, I am a little concerned about the Covid situation as it comes to rentals. I'd love to here from anyone out there about this topic. How do I insure against a situation where a tenant is able to not pay rent. How do I screen potential tenants properly? Are any of the landlords on here struggling from these same issues?

Any advice would be great!

Thank you.

Wow, I'm ashamed to admit this but I hadn't even thought about that as I'm going through plans to flip my first property. Thank you all for your responses.

Hey Mark,

I'm glad to see a new face in the Tri-cities area. I live in Bristol and am also very new to real estate. There's an REI meetup that takes place in Johnson City about once a month. It might be a bit of a drive and i know Knoxville has one too. Heath Ryans is the man to talk to about it. Look him up and come out and join us. We've been hosting via Zoom lately.

Justin, I love all of that, and appreciate the advise for my situation as well. I am currently working on my first Flip. I would also like to add, what really helped me get started, try to find an investing group in your area. Most hold events that are free and educational. It was also how I met an investor that is helping to fund this deal!

Best of luck!

Hey Ben, 

So as of right now, I don't have a property like that in my leads. But i will keep my eye out for you. I love the plan, and that is a great way to get started!

Best of luck, I'll be in touch!