All Forum Posts by: Jon Penton

I checked them out - Beautiful! Do you happen to remember who the photographer was?

@Ola Dantis I remember Grant’s podcast abt that! Buy the apartment complex and move into a unit!

As for me, my current situation is renting a 1/1 for $600/mo after a divorce and needing to live off of cc for a few months ruined my credit.

Next step is a $400/mo loft rental above an office of real estate investors (very excited abt this opportunity coming up in a couple months.

Next step after that is househack a MFR, which will probably be my first deal. I'll need some time to rebuild my credit, build relationships with lenders/re investors, grow financial iq, and increase my income through other ventures.

I’d like to end up living in a tiny home on a few acres that I own, growing my groceries and possibly hemp!

@Malik Berry Hey Malik! I came across this post from you while searching BP for Grayson County (Sherman/Denison) RE investors. I would love to connect, meet up, hear your story and what you’re up to in RE!

@Conan Humphrey I just had a phone call with Josh Holland - young wholesaler in Sherman/Denison, Tx (Grayson Co). I can send you his contact info if you (now a year later) would like it!

I came across this while searching BP for other members in the Grayson County area - if you’re still active in the area, I’d love to connect and hear what you have going on!

@John K. Nice! I know this is a year later - curious if you have the before and/or after photos posted somewhere?

@Adam Serdula After I’d read a few books, to learn the language, I’d be starting a podcast interviewing local investors and landlords, & other folks in the industry.

Connecting with people and developing professional/productive relationships will be huge, could even save me from needing to use my own money on my first deal.

@Cody L. That’s what I keep thinking every time I see someone say that owning real estate isn’t financial freedom - build into your “Financial Freedom #” the cost of growing your business, so that you can work on it AND in it as little as possible. Heck - sell your business and then invest in it. Isn’t that Robert Kiyosaki’s 4th quadrant?

Same concept applies when determining the magic number to offer for a property: if you don’t have contractor skills or just hate it (I personally enjoy it, but I’m slooooow), that’s not an excuse to not invest in RE, it’s a reason to make sure you build in the cost of hiring out the contract work or prop management during the analysis process. Present your magic number offer, and if it’s not accepted, see where you can make adjustments or move on to the next deal.

Copy that, Frank!

@Frank Patalano

Great question and discussion, Frank, thank you! I’ve enjoyed reading other folks challenges and hang ups, and reading responses/advice.

I think my hangup is I haven’t nailed down how to analyze a multi family deal with confidence. It would seem that that would be my first actionable step. I am apprehensive because I personally don’t have great credit at the moment, and have zero personal capital (I’m open abt the state of my personal finances in my bio), so everything would be leveraged with OP$ and it would be mostly a learning experience. With all that in mind, I think I’ve been too passive in educating myself, and need to practice analyzing deals. Thoughts?

@Rob B. Thank you!