All Forum Posts by: Kenneth Picha

Hi All

I wanted to findout what type of concerns others have encountered regarding owner financing on a property when the owner is able to carry the note. 

I understand the number of benefits involved and this type of loan in my view keeps things simple. One of the Podcasts mentions an owner financing note may be sold but what other concerns exist? For example can i expect points, ballons etc. 

My intentions would be a buy and hold. I would pursue a conventional mortgage after the rehab-BRRR technique.

Thanks 

Ken

I was investing in Real Estate before I joined and if I could say the answer to the question you ask is that it depends. 

What I can genuinely say is that Bigger Pockets has saved me at least $6,000.  I take the information from the Podcasts and Forums to formulate into my own business plan.  If I have any further questions I ask  or just does not make sense I ask my CPA, lawyer, bank business branch, someone in my network or a good friend. 

Going back to my earlier response of it depends.  I believe Bigger Pockets appeals and impacts all levels of the investor. For the beginning investor or someone like me who was strongly considering paying to became part of a very well marketed/oiled Education company it can save a lot.  For the intermediate or advanced investor I can only imagine what Bigger Pockets can save. 

My thoughts.

Ken

Hello All,

I just wanted to take  a moment to say that I have learned a heck of a lot from the Pod casts.  They area great resource to grow your education on the Real Estate Investing.  I introduced myself about two-months ago in Bigger Pockets (BP) and believe this is the best thing I have done next to the couple of rental properties I purchased prior to joining.

The Podcasts are very informative to me because the discussions range from personal experiences, business/long-range plans, dealing with renters/sales agents/banks etc., books to read and so-on.  Another item is that these Podcasts are filled by people who are up-front and genuinely want to help.  I say this because I have been to a number of Real Estate type meetings and workshops where a statement is always made along the lines "if you want this it will cost you".

Another item is the "quick riches" crap is not preached.  I have yet to hear a Podcast that does not discuss the hardwork needed, the learning experiences these people have had to encounter, etc.  It is the grit and hard work that is needed to succeed not a feel good $6,000 to $50,000 course.  I went back to Podcast #25 (I think) and the comment made regarding grow someone out from under you and to not view them as competition is great to hear.

I know a couple of other BP forums have pointed out to hold off on spending this money and try out BP.  If I could further suggest that you can learn a lot from talking to the business side of banks, CPA's who are versed in Real Estate, a good lawyer, and the Real Estate Investment where you talk to people.  Everyone has a vested interest and going this route is a lot more cost effective. 

Anyway my two-cents and I look forward to reading and posting more as I grow not only in my experience but retire from my day-time job in a year.

Ken

thank you

So after going through many of these investor emails, how long does it take until I find an actual private equity investor.  I am in the St. Louis area and it is funny how many scammers there are.  I managed to find a few legit ones but for every 1 legit it seems there are 3 false ones.  I save myself by asking them questions, references and google them.  I am still looking for private equity investors but nothing that cannot be worked through.

Any other thoughts on how to keep myself from falling into their trap?

Hi,

I grew up in and have returned to the St. Louis area. I am a military pilot who is retiring by the end of next year.  I will be a full-time real estate investor so my retirement will seamlessly transition to full-time real estate investment. 

I have rehabbed various homes that I have lived in throughout my military career. Additionally, I have acquired rental properties through-out my military career. I am now concentrating on the wholesale and rehab of properties which is where I would like my company to develop. 

My areas of concentration are based on my experiences and having lived in these areas. The primary area of concentration for me is in the St. Louis area of Missouri and Illinois with an emphasis on the Tacoma area of Washington and the Milwaukee area of Wisconsin. 

My website is TheDEGGroup.net and I am registered/approved in Missouri and Illinois under "The DEG Group LLC" with a dba Glide Path Properties.

Ken