All Forum Posts by: Kenneth Picha

Same here on Fortune Builders.  I saved my money by not giving it to Fortune Builders and found out what fortune builders uses is in the books that I have been reading. 

if you want to save money avoid Fortune Builders.  Use the money to get your own investments going.  In a year if you still feel Fortune Builders is for you join them. 

I sent my real estate documents to the lawyer.  The CPA I used for tax/estate planning.  I also used this time to ask them questions.  Still much cheaper than fortune builders.

Hi and welcome.

Use the Bigger Pockets calculator.

Don't do it.   I went to the three-day course and it is motivating.  I did not join the Mastery program but did find out the actual costs.  This will be in the realm of $30,000 just to get the Mastery then another $40,000 just to get in.  The best part is they tell you to get your credit card limits raised to join.  In the end they will say it is up to you to make the decision while they take your money.  They will take your money and use it for their commercial investments.  They also use the money for their internet group to keep the positive comments about them at the forefront-google them and see.  

Bigger Pockets is the perfect start.  Read the books, listen to the Podcasts, research the forums, consult a CPA & Lawyer.  Doing this has cost me about $2,000, I just picked up the phone to talk to other storage unit owners about their operations-at no cost!  The money that I did not give and yes I said give to fortune builders I have bought a rental home and now I am buying storage units.  You will find everything that you need in these books, talking to people, etc.  You will find out that what is Inside these books is fortune builders uses as well.  

The decision is yours but get educated.  If you fell that in a year from now that fortune builders is your route than pursue it.  I am willing to bet because you asked fortune builders is not your route. If you must go that route I would recommend Rich Dad Poor Dad because he does gives the money to those who need it and does not talk about it.  In the end it is your decision no one else's.

Thanks all.  I will post more in a few but I learned a heck of a lot.  It is a bit of a deviation from houses or mutli-family, but storage units are still real estate investment.

On another note we are now with a lead to multi-family and working in that direction.  Hopefully this will amount to another investment with the closure of the storage units.

For $25,000 you will get into the door.  For another $35.000 you will get into a meeting with him.  Not worth it.  Save the money and buy your own investment properties.  Consult a CPA, Lawyer, buy books, learn from others and use Bigger Pockets.  Everything that Than Merrill uses was written about by Gary Keller (Millionaire Real Estate Agent) and Robert Kyosoki (Rich Dad Poor Dad). 

Thanks for the inputs.  It does help.

Thank you for your inputs.

Anyone else?

Wayne thanks for the input and.

Current Sales price is $100K

What she owes=$80K

Comps in the area for that house=$110K

Repairs need=$20K (for example, I have to remodel/repair both bathrooms as a sink is missing in one and the toilet does not work, roof has a leak etc)

Based on the zoning I can rent to two non-family members.  Current rent for a house like this one is $400 a person.  It is a 2 bedroom 1.5 bathroom house. 

The owner has contacted her bank.  I have already told her that I will offer below what she wants which amounts to a short-sale with the bank.  I explained to her in order to make an income the price I would pay is well below what she owes.  I told her to think about it overnight because a short-sale is what I will have to pursue. I first saw her house in July and she has started calling me back this month. 

I ran the numbers off of the BP analyzer and I would have to buy the house at $55K or below.