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All Forum Posts by: James Vermillion

James Vermillion has started 17 posts and replied 2680 times.

Post: Greetings from Milwaukee, Wisco

James VermillionPosted
  • Lexington, KY
  • Posts 2,920
  • Votes 1,190

Welcome to BP Matt. I would love to hear about how you ended up with 7 free and clear properties.

Post: Hello and thank you

James VermillionPosted
  • Lexington, KY
  • Posts 2,920
  • Votes 1,190

Welcome to BP and congrats on the upcoming marriage. It sounds like you are taking the right steps in correcting your credit issues and taking time to learn what you need to know to get started (BP is certainly a great resource for that). Good luck!

Post: Software Uses for Investors

James VermillionPosted
  • Lexington, KY
  • Posts 2,920
  • Votes 1,190

@Account Closed , I think QB is a little much for personal use. I think something like Mint is much more user friendly and simple to use.

Post: Rich Investor

James VermillionPosted
  • Lexington, KY
  • Posts 2,920
  • Votes 1,190

People have risen up out of some very tough situations to be successful...but it is not easy.

The word "investor" also could be part of the problem. This has been argued many times on BP, so for the sake of this thread I will assume investing means all forms of real estate investing discussed on BP (wholesaling, rehabbing, holding property, etc).

As Jeff was alluding to, there are many factors involved, money being one of them, although an important one. You do not necessarily have to have money, but you need access to it, whether through banks, lenders, private loans, investors, etc. Without cash, or access to it, it is hard to invest in anything. People often point to wholesaling as the method of choice for people low on starting capital. Wholesaling though is very difficult and requires and understand of real estate basics, property analysis, marketing, etc. If you do not understand those things, you cannot be a successful wholesaler.

Basically, I am trying to say it is not impossible, but will be very difficult and will require a lot of work, a plan of action, and some real estate knowedge.

Post: Software Uses for Investors

James VermillionPosted
  • Lexington, KY
  • Posts 2,920
  • Votes 1,190

I keep it pretty simple as well with Quickbooks, Google Drive / Dropbox and Excel. Also, I am looking at integrating Teambox with my business partner to split and track tasks.

Post: What is your MOTIVATING FACTOR to continue in REI?

James VermillionPosted
  • Lexington, KY
  • Posts 2,920
  • Votes 1,190

Everyone I know in real estate has had some ups and downs. I am not necessarily talking huge swings, just some times are smoother than others. When those swings happen to me I take some time to evaluate what we are doing. I try to identify what we are doing well, where we need to improve, and start implementing those changes. I have similar motivations to many of those that have already posted, but that great feeling of completing a deal, knowing I am doing something for myself (and my family) is a major driving force.

Post: New from the Netherlands

James VermillionPosted
  • Lexington, KY
  • Posts 2,920
  • Votes 1,190

Welcome to BP. I love the Netherlands. I have spent a little time in Rotterdam and Amsterdam and had a great time, I am hoping to go back again next year. Good luck!

Post: I WANT TO BE A ROCK STAR, BUT I CAN'T SING

James VermillionPosted
  • Lexington, KY
  • Posts 2,920
  • Votes 1,190
Originally posted by Bill Gulley:
Cool Jon, I like Mellencamp's music! I am a rocker, an older rocker! LOL

I played in a garage band like many kids in the 60s. Kids from our high school band mostly, Bill Jones played sax and we called ourselves the Dare Devils (how original for high school kids, LOL). I wasn't allowed to have long hair really, a couple of us wore wigs on stage, the kids never knew. We played down at the lake and were pretty good, no big bucks, more like covering expenses and minimum wage. The band broke up, Viet Nam and all, Bill Jones stayed at it and started a band called the Ozark Mountain Dare Devils, I was in Germany when I heard them on the radio! So, there ya go, stick with it, determination, practice, education and hard work pays off! :)

Sounds like you just needed a little more cow bell!

Post: Hello from Lexington, Kentucky

James VermillionPosted
  • Lexington, KY
  • Posts 2,920
  • Votes 1,190

Hi Steve, welcome to BiggerPockets. I love seeing people from KY, especially Lexington. I think you will find BP is a great place to network, learn, and pass on knowledge. We flip and hold properties in Lex and the surrounding area (Georgetown, Versailles, Nicholasville, Paris, etc).

If you haven't yet, check out the podcasts...they are awesome.

Post: Hello from S. Texas!

James VermillionPosted
  • Lexington, KY
  • Posts 2,920
  • Votes 1,190

Welcome to BP Fred. Please tell us a little about your background and real estate goals. Also, please consider adding a profile picture, it really helps enhance the sense of community on BiggerPockets.