All Forum Posts by: Michael M.

Thank you for the advice. I have a background in computer graphics (prepress), and class B CDL (bus driver license). Currently I earn 1/2 the living expenses I need to live in Los Angeles County. Los Angeles is saturated with cheap labor.

One of the books I read or guests I heared on a podcast mentioned that most people that change their life almost always changed their location from adverse environment to conducive atmosphere

If I move to Montana, I might like shoveling snow ;), I might like the lack of gang members in town, at work, the lack of graffiti, or feeling like the odd white guy out.

Will I be able to earn enough income to support my living expenses while I work at creating a sustainable income stream?

I'm not afraid of doing my due dilignce and then taking taking a leap of faith towards my goal. I am concerned I'll settle for less and have to live with my poor choice to be poor.

Thanks. I'lI look into Montana. If Jesse Ventura can make it there, maybe I can too.

If you want to make it in real estate, become financially independent, escape the crappy rat race, you know that will give way to automation, outsourcing, you know the static existence universities, colleges, and politicians have conditioned us to believe will continue to exist forever? No one is going to hold your hand and help you make it in real estate or life. You will struggle on your own. I have taken a crappy job just to avoid the social stigma of being unemployed, no thrive, not even to financially tread water, just to earn 1/2 of the money I need to survive.

I promise myself before I die, I will succeed, no matter  what. Good luck to us both.

Your description of the exact problem is vague. I can't give you advice unless I know what happened.

As a former HOA president of eight years, I'll do my best to help you. In California we have the Davis Sterling Act that superceeds HOA CCR (bylaws). I'm not sure about your property location or state laws. HOA Board of Directors (BOD) tend to be clannish. When renters live in an HOA, BOD see renters as invaders. HOA BOD tend to look down on renters in the same way most "landlords" look down on tenants and treat them accordingly. Landlords getting a taste of their own medicine, lmao.

Here are a few solutions depending on your available time v money:

1: Request a hearing. Any infraction can be challenged by a hearing. The BOD must have at least a quorum (majority) just to meet and BOD are not always available. BOD will hate the hassle. Then meet with your tenant, at the BOD hearing and bring your attorney if you like. Find out out what the issue is, have it resolved. That's what the BOD wants. The fine is just a tool and hardly a way to raise money for operating expenses.

2. Call the HOA management company, they are obligated to answer your questions. FYI, Anything you say to the management company will travel to the BOD ears.

It sounds to me that the renter is not informed about the CCRs. They didn't sign for them like you did when you bought the property. You can't buy HOA property unless you agree to the CCR. Your tenants are obligated to follow the CCR just like you would. Include the CCR in your lease and have the tenant sign that if fines are incured due to the tenant behavior, the tenant will be in breach of the lease.

99% of the time the tenant is doing one of a few things: parking in a red zone, having loud parties, bringing to many guests to the pool, unsightly belongings visible, unsupervised pets, not leashed, defacate in the common area, unsupervised children (that make noise and break stuff), speeding in the deiveway, bringing food, glass, beer or marijuana (legal in CO but not CA) into the pool area, indecent or illegal activities in the common area.

I've seen it all. HOA rental property is not for everyone. Its restrictive and a burden to manage, but generally the BOD will look out for the common good. Investigate and be tactful. Good luck.

I accepted a menial job today. My hearts not in it. I feel guilty I'm not doing real estate.

Thank you all for the emotional support. Letting go of my childhood home wasn't easy or pleasant. But the less I look back and the more I look forward, the better off I'll be.

In southern California, most metro apartments are renting for a range $1,250 - $1,600. I could go farther out and save a few hundred a month, but then I spend that money in gas commutting to a metro city for employment. That's urban spral at work. In metro areas tenants are screened for earning 3x the rent. This means I need to earn $3,750 a month ($45k/yr), preferably in real estate, just to rent an apartment.

The $45,000 question is:

What job in a real estate has a base pay of $45,000 a year to start with only a high school diploma? I'm willing to get training or certification, but taking a commission only job won't put a roof over my head at age 41

After digging around payscale.com, none of the jobs I mentioned have a base pay of $45,000 a year. I would appreciate any suggestions.

Nothing is free in this world. So why read this post and chime in? Benevolence? I lost all my faith in "friends", society and politicians. But just in case, I offer to BP something in return just for reading my post. A fun fact:

Which real estate job listed in my post has the highest base pay and longest tenure?

If you said Escrow officer you'd be right.

Escrow officer has a base pay of $31k a year, is 91% female occupied with 39% of the workforce employed for 10-19 years. - payscale.com

I like digging and researching, it's fun and I get to do it alone. I just have to figure out how to make money from it...

So escrow officers, do you own, or rent? Are ya scraping by? Do ya eat everyday or not? Wait, hold on, I know "don't flood my industry, were doing fine now, but after the bubble pops, it will get slow and well be letting people go"...and now we wait...

BP is great place. The world in general is not. Over the last year I have listened to all the BP podcasts, those guests who succeed are showered with praise and emulation. That's why we are here, we want to be like that success story, we want to learn, network and grow. While an investor may strive for the most profitable deal, it comes at an expense to the seller.

As I write this post a women has lost her wallet. It's a Coach wallet and looks full. I lost my wallet as a kid walking to school. I had $43 dollars to my name. Two weeks went by, I got a call from a house wife asking if I was Michael. Turns out she lived, ten minutes away from my childhood home and told me my wallet was ready to be picked up. I'm 41 now and never forgot the honesty displayed when my wallet, ID, and all my money was still intact. I offered the lady a $20 reward. She declined, so we agreed on two Peach pies her husband liked.

As soon as I discovered the Coach wallet from a window, another woman walked by, picked it up and started to walk away from the store with it. Not so fast riff raff. I notified the store manager about the wallet. It's safe and so that women's identity, credit cards, and cash. Hopefully she comes back to the store and inquires about it. She'll never know it was me, but hopefully good karma will never let her forget to pay it forward. Back to my confession.

I used to be a motivated seller. I had a low paying job, that didn't pay my mounting credit card debt. The typical motivated seller isn't savvy about real estate, doesn't value property correctly, spends too much and earns to little.

I made a few mistakes that led to my losing six figures off my list price.

1. Not selling in 2007 when the market was up. I sold in a down market instead.

2. Poor budgeting. I spent too much, earned to little, deep in credit card debt. I didn't earn enough to qualify for a loan.

3. I made the mistake of becoming HOA president and remaining so for 8 years.

4. I didn't educate myself about real estate. How banks low ball LTV when no recent comps exist.

5. Financially illiterate. I didn't educate myself about loans and DTI ratios, credit hard pull vs soft pull.

6. My list price was too high. Lower list prices attract bidding wars.

I'm homeless now, loosely living out of my car, and back to spending too much. In two years I'll be broke. Robert Kyosaki was also homeless for one week along with his wife, but he managed to get through it and come out ahead. Phil Pustejovsky was also homeless at one point in his life and got through it. I endeavour to do the same.

I most likely would benefit from having a mentor to guide me in real estate. I've setup a website in hopes of having something to show for my efforts toward gaining financial freedom from poverty and homelessness. While most "mentors" or "gurus" will be more than happy to take my money, I'm offering myself freely in exchange for free guidance. Perhaps that guidance is here on BP and technology can transcend the traditional barriers I've been conditioned to accept as gospel.

I already reached out to a guest on BP. He said I have nothing of value to offer him on his marketing for deals. He's right; why should he spend his marketing dollars on my training wheels? So I've assembled a few options for myself along with an about me. I'm interested in the vicinity of Walnut, CA, the Inland Empire to the Antelope Valley.

I've been listening to several real estate podcasts for several years without taking action nor getting my real estate license. Before me are various paths and I could use advice on.

First I need the lowest barrier to entry. A very high chance I'll get traction and make an income right away.

I've considered several career paths to give me an immediate stable income without a four year degree including:

Escrow assistant, agent or officer

Title officer

Real estate note investing

Buying and selling raw land

Wholesaling

Certified Apartment Manger (CAM)

That's my initial plan. Eventually I want to leverage time and interest, contracts and processes to become wealthy. I believe in myself, but I lack a good guide and an immediate living wage.

I could just get a real estate sales person license, pay the the expense and seeming futility of not earning enough money with listings, promoting the brokerage, while I network with title, escrow, home inspectors, real estate attorneys, brokers, REIA, and self help books until I stumble upon success or fail.

Podcasts are great but don't provide income unless I start my own podcast and promote my own products or affiliate links. No affiliate links are posted below. Here's what I've listened too so far.

http://realestateguysradio.com (generic real estate podcast)

http://www.richdad.com (rich dad poor dad, cashflow quadrant, 2 other audio books)

http://www.thenorrisgroup.com (real estate notes)

http://michaelquarles.com/author/michael/ (http://www.yellowletters.com (Whole tailing)

http://www.biggerpockets.com (real estate podcast with niche guests)

http://www.thelandgeek.com (buy and sell raw land, finance land notes for passive income)

http://www.amazon.com/Think-Grow-Rich-Napoleon-Hil... (personal growth, a positive worldview attracts other to you)

http://www.grantcardone.com/the-10x-rule/(Inspirat... speaker with no specific guidance)

http://www.amazon.com/ONE-Thing-Surprisingly-Extra... (success is sequential)

http://www.amazon.com/gp/aw/d/031623673X (personality types)

http://www.smartpassiveincome.com

Recognizing real estate is the best industry to succeed without a college degree, which may not be worth incurring student loan debt, looking for entry points into real estate, how quickly I can enter the industry and network, and weighing the return on value with various real estate pathways and strategies.

I need traction, income and advice. It could be worse, I could be a cripple or a junkie. I am neither, just a former motivated seller trying to get a fresh start in life, to learn to be the hunter rather than the hunted, and never again be a desperate motivated seller.

Before anyone gets teary eyed on me I'm sure the world is full of selfish don't give damns who are out for themselves. I have no illusions of finding gold here. Just reaching out just in case I'm off.

Respectfully,

Michael