All Forum Posts by: Matthew Von Dwingelo

Welcome to the Dark side Rusty. Given you're an agent my best recommendation for finding some good deals is to work the mess out of the FMLS / GaMLS & Talk to Every Agent in Your Office & Let Them Know You're Looking to Buy Some Deals. 

I've bought probably 90% of my deals through 2 sources... 
MLS & Pocket listings. If you dig into those 2 things & work them correctly you'll buy deals.

In my experience / my opinion the best financing source will be to bring on capital from a private lender. A friend or family member. Typically that's gonna allow you to get the most favorable terms in regards to loan terms like LTV, Loan term, etc.

If that's not a great route for you then I'd look into getting some Hard money. If you're looking for your next deal I'd love to connect & see if we can get you that next deal. We've got deals, hard money, and we can re-list for you for a 1% list commission. 

 And also, I think it’s wrong to be telling people of color that they’re not gonna be successful without going to college due to the color of their skin. 

I don’t know about you, but to me that seems like you’re putting them down due to the color of their skin. That’s not gonna help their confidence or help them achieve their goals. 

I hear you and I understand the sales pitch that colleges push to make sure people keep giving them money. Just don’t forget colleges are for profit. 

They’re just some of the best marketers & sales people around. They have so many people convinced they have to go to college to be successful. That’s why they make so much money. 

Nothing wrong with it, but there’s not a single person that can’t be successful without college. Regardless of their background. Only thing someone needs to be successful is Drive and a will to be successful. 

The knowledge on how to get there will come through relentless pursuit. Regardless of if that someone went to college or not. 

 I think the point I was trying to make was overlooked a little bit. Understood timing was rough - but what I’m saying is the people I know who came from comfy lifestyles are the ones who seem to be lost. The people I know who came from lifestyles where they had to struggle a little bit are the ones that are pushing forward and pursuing their goals. If someone made the decision to go to college - that’s their choice. But if you can’t afford to go, you don’t have to go. Many people are extremely successful without it. Now If someone can’t afford it, they go anyways and take a loan out to do it that’s their decision. It’s taking a risk, it’s betting on yourself and the value a college education brings you. 

But if you go to school and major in “transgender studies” you aren’t really giving yourself much of a chance. 

That said… no way I or anyone else should have to pay for that person to go to college. Regardless of their major. 

 Oh I agree 100%

Todd... I Apologize that this has nothing to do with the blog post - but How did you get your RE Brokerage to show up at the bottom of your reply? 

 I know this is a very contrary belief here - but I think the best thing you can do is go ahead and find yourself a good deal. Sounds like you've been doing a lot of research into the business already so you likely have a pretty good understanding on what a good deal is. Once you find that deal, get it under contract with a nice financing contingency and then go and figure out where to get the money. 

That said... this is assuming you have the time to dedicate to really hunting a good deal down. If you go to the MLS and you're working with an agent between you and the seller any good agent is going to want to see Proof of funds or a preapproval. That means you need to get creative with finding that deal. Market direct to owners, get a deal from a wholesaler (but not one of the big ones, they likely won't allow you to contract a property till you have financing secured).

Reason I say get the deal first is because it sounds like you've been researching for a really long time. You don't want to get stuck in the analysis paralysis phase that stops so many people from buying their first deal. If you get a deal Under Contract, that will be the push you need to get the ball rolling on financing etc. Also... if it's a good enough deal there's a ton of quality people here on BP that may be interested in financing the deal for you. 

Man, I can appreciate your post - but I don't know if I can agree with it. That age bracket you gave actually cuts my generation out - born in 1998 - but I know for a fact the opportunities that our generation has been given with technology, software, direct access to so many successful people have made current times the greatest opportunity for individuals to truly build wealth. I look at most of the people in my age range and see the things they do on their day-to-day and it seems to me like the reason my generation isn't truly succeeding is because they don't have the will to. A lot of people in my generation grew up in very "comfy" life situations with wealthy families and those people are the same ones that I see are struggling now that we're trying to make progress in the real world. 

That said, I think the only thing making my generation's net worth drop like in the chart... is an unwillingness to put in the extra effort.