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All Forum Posts by: Account Closed

Account Closed has started 141 posts and replied 4068 times.

Post: Buying a Property with Negative Cashflow

Account ClosedPosted
  • Investor
  • Scottsdale Austin Tuktoyaktuk
  • Posts 4,205
  • Votes 4,153
Quote from @Kalp Mehta:

Hello BP

Should I buy a property that generates negative monthly cashflow including vacancy reserves, management reserves, CapEx, and property management fee? When I remove vacancy reserves, management reserves, CapEx, and property management fee from the calculation the property is generating $200 positive monthly cashflow.

There are too many better deals out there.  

Post: Starting Out.... Is a mentor really worth it?

Account ClosedPosted
  • Investor
  • Scottsdale Austin Tuktoyaktuk
  • Posts 4,205
  • Votes 4,153
Quote from @John Brown:

Hello All, My partner (business not life) and I have decided to get into CRE. After months of research hours of talking, planning, scheming forming the LLC pulling our hair out etc... We have both independently come to ask ourselves the same thing. Do we really need a mentor? We know all the gurus tell us that we do, right before they pitch us their course or services, but is that just them diversifying their income? With the whole world of information at our fingertips and groups like this is the absolute need for a mentor necessary?

No, there is need for a mentor. Time heals all wounds :-) Ya pay for it now or ya pay for it later, but gravity works and real estate is all about how gravity works. What goes up must come down. I do wish you well. Be prepared.

Post: Did I hear David Greene correctly this morning? Cash out 1.5MM retirement fund?

Account ClosedPosted
  • Investor
  • Scottsdale Austin Tuktoyaktuk
  • Posts 4,205
  • Votes 4,153
Quote from @James Wise:
Quote from @Account Closed:
Quote from @James Wise:
Quote from @Mike Terry:

I love Bigger Pockets. The site and the podcasts have been responsible for my success, be it limited, in my real estate endeavors.  The recent podcast advice stopped me in my tracks as I have started to really question the judgement and advice that is given to very inexperienced investors.  I think it is a good example what the podcast has become.  Not seeing Greene! Now I may have misheard, but I believe the advice was to cash out 1.5MM retirement fund (type unkown) and invest it in two short term rentals.  No consideration of tax implications, the investors experience or aptitude for operating this strategy. I am not sure how someone who is no where near retirement nor having any retirement planning qualifications can suggest such a thing.  I am in the middle of planning my own exit from W2 employment and I am agonizing over finding qualified and unbiased counsel on planning.  It is hard because the financial industry has been so distorted by compensation models.  I feel Bigger Pockets and in particular the real estate podcast has become the same. I know David Greene is smart and he has accomplished things I can only dream of, but The podcast has become his own personal advertising platform frought with self-promotion.  Very few episode don't include plugs for his brokerage business and his mortgage company.  I feel the same way about this as I do financial advisors.  Good advice is secondary to marketing and questionable opinions. 

I wonder if the listener took that advice and sought out David Greene's company to help her buy these assest,as he suggested? As always please consider the source.  Bigger Pockets needs to re-evaluate what they are about.  

 I was on the Bigger Pockets Podcast years ago, but admittedly, I don't really listen to it much. I've probably only listened to a handful of episodes in their entirety. Having said that, it's not all that surprising to hear this. The real question is though, what did you expect? It's a free Podcast. It's free content. There is a lot of time, effort and cost that goes into producing all that stuff. Why in the world would a listener have an expectation that the content producer is not going to try to earn a return on the work and cost of producing it?

Yep. It's the American way. Wally Amos of "Famous Amos Cookies" got hs start by handing out freshbaked cookies. Ended up that the company sold for $61,000,000. All from giving away something for free. But, it wasn't free forever.

 Anyone upset by Bigger Pockets trying to sell them stuff needs to stop asking their Barber if they need a haircut.

Loud Gufaw - Brilliant!

Post: Did I hear David Greene correctly this morning? Cash out 1.5MM retirement fund?

Account ClosedPosted
  • Investor
  • Scottsdale Austin Tuktoyaktuk
  • Posts 4,205
  • Votes 4,153
Quote from @Jay Hinrichs:
Quote from @Account Closed:
Quote from @Jay Hinrichs

@Chris Seveney:

Quote from @Account Closed:
Quote from @Jay Hinrichs:
Quote from @Mike Terry:
Quote from @V.G Jason:

It's just advertising at it's core. It's a REI site and it's going to be pushed at any expense.

I mean ****, you don't see much better on the forums. There's threads daily about the nonsensical things people do to be a "REI" at the expense of their actual stress, daily lives, and families well being. There's turnkey providers with predatory 2-year balloon options on houses, one's with 50 1-3 post people show up to support them. Have you dealt with agents on this forum? Horrible and slimy, for the most part. It's just the core of this place, you need to filter through the ******** to really see the best of it. There are great people here and great sources, though.

 Thank you for your response.  I know there is lots of good on this site and in the various podcasts.  I am just disappointed in the tone of the site.  Like everything, the degree of sales vs good advice is nuance.  It is clear to me that it has swung too far and the overall platform is only a shadow of its' former self.


There is no question that the reins have been taken off the mods when it comes to self Promotion
Just look at the Sub to guys virtually every post now is a picture of a spread sheet of one of their deals and of course you to could have a deal like that if you pay them 15k to teach you :)  Not saying the training is not worth 15k very well could be.. but that kind of posts one after another would have never flown a few years back.
Cool huh. Think of it this way, some people learn by hearing, some people learn by reading, some people learn by visual, spreadsheets. I think you understand Subject To but the other 2,000,000 people on this site do not. They need help to understand.

Do people read the loooonnnnggggg posts that people write? Not often.

If you can sum it up in a picture, a spreadsheet and communicate all of that information, why not do it?

And if someone can spend $15k one time and thereby save $80k mutiple times, why is that a problem?  If the savings aren't there, the spreadsheet shows it, Just for an example. ;-)

I get what your saying my point is post like you guys do over and over again in years past would never have been tolerated you would have been admonished by the mods. I know when I first started and did not realize you could not self promote I got my hand slapped a few times. Thats why you dont see me posting on the open forums about my deals were we double our money in a year cash on cash.. or the one I did in Washington state this week were we turned 60k into 115k in 25 days . And its not wholesaling :)   And the point of the original post was how the podcasts have changed and for sure the folks running it back then promoted BP not their personal agendas. But yet again you are able to do a nice self promote off of my mention so your welcome LOL

@Jay Hinrichs: @Chris Seveney:

I am not disputing either of you, but you both make it very clear that you lend money or have funds for investment, which presumably you charge points and interest and are self serving. You don't lend money for free. You do large projects they may be interested in investing in and you welcome people to talk to you about it. I have no problem with that. In fact I think it's a good thing.

In fact, shouldn't a place like Bigger Pockets offer resources to investors and the only practical way is to mention what you've done and what you do.

A forum that talks only about analysis paralysis gets boring pretty quickly. People come here for inspiration, help and new ideas. And Bigger Pockets is wise to loosen the reins a little bit.

Frankly, I think because of the previous restrictions, a lot of users simply left for Facebook where I find at least 23 active sites promoting real estate investing with deals included. I like Bigger Pockets and am loyal to it. But to keep the interest of those coming here, it's important to grow with the times.

Most visitors and lurkers are new to real estate, that means they don't have the experience and confidence you and I have. You lend to experienced, sophisticated investors, you make that abundantly clear, I train the new. Everybody that is experienced was once new. It's just really easy for some to forget what it took to get here.

The best tax advice, 1031 exchange, estate planning and asset protection I've encountered is right here on Bigger Pockets. Many talented professionals that answer questions. It's obvious what they do for a living, but I welcome them and I've learned a lot from them. They charge for their services, imagine that. Would you prefer to join a "communty" to learn about real estate taxes and get half of what you need and pay half price or would you take a complicated tax return to a professional and get proper advice?


One minor difference and maybe its a major difference with Chris and I  we give information freely we dont charge 15k to teach people how to invest in our deals or our note fund .. So most on this site that are lenders or whatever are not trainers charging you guys are one of the few..
Now I maybe should reconsider.. you know like the guy who charges 10k and you have split first 500k with him and he will finance your deals.  WE finance peoples deals and dont charge anything and just get paid for the Use of the money like any other investor.. thats the difference that I see as it relates to sharing information on BP>

I agree though this hiding around the fact and the subliminal messaging that was really prevalent in years past.. Lets just get on with it..  I do deals flippers and foreclosure buyers.. I build new homes and sometimes will have investor in my deals etc etc.. But when talking on the threads and trying to give back its hard to weave that into every post.

@Jay Hinrichs: Your Comment: "I do deals flippers and foreclosure buyers.. I build new homes and sometimes will have investor in my deals etc etc."

And we are glad you do, it improves America and it gives newbies a vision that maybe they can do that too. It's all good.

We need more success stories. That's what people are looking for "How'd he do that?" "Maybe I can too".

Post: Did I hear David Greene correctly this morning? Cash out 1.5MM retirement fund?

Account ClosedPosted
  • Investor
  • Scottsdale Austin Tuktoyaktuk
  • Posts 4,205
  • Votes 4,153
Quote from @James Wise:
Quote from @Mike Terry:

I love Bigger Pockets. The site and the podcasts have been responsible for my success, be it limited, in my real estate endeavors.  The recent podcast advice stopped me in my tracks as I have started to really question the judgement and advice that is given to very inexperienced investors.  I think it is a good example what the podcast has become.  Not seeing Greene! Now I may have misheard, but I believe the advice was to cash out 1.5MM retirement fund (type unkown) and invest it in two short term rentals.  No consideration of tax implications, the investors experience or aptitude for operating this strategy. I am not sure how someone who is no where near retirement nor having any retirement planning qualifications can suggest such a thing.  I am in the middle of planning my own exit from W2 employment and I am agonizing over finding qualified and unbiased counsel on planning.  It is hard because the financial industry has been so distorted by compensation models.  I feel Bigger Pockets and in particular the real estate podcast has become the same. I know David Greene is smart and he has accomplished things I can only dream of, but The podcast has become his own personal advertising platform frought with self-promotion.  Very few episode don't include plugs for his brokerage business and his mortgage company.  I feel the same way about this as I do financial advisors.  Good advice is secondary to marketing and questionable opinions. 

I wonder if the listener took that advice and sought out David Greene's company to help her buy these assest,as he suggested? As always please consider the source.  Bigger Pockets needs to re-evaluate what they are about.  

 I was on the Bigger Pockets Podcast years ago, but admittedly, I don't really listen to it much. I've probably only listened to a handful of episodes in their entirety. Having said that, it's not all that surprising to hear this. The real question is though, what did you expect? It's a free Podcast. It's free content. There is a lot of time, effort and cost that goes into producing all that stuff. Why in the world would a listener have an expectation that the content producer is not going to try to earn a return on the work and cost of producing it?

Yep. It's the American way. Wally Amos of "Famous Amos Cookies" got hs start by handing out freshbaked cookies. Ended up that the company sold for $61,000,000. All from giving away something for free. But, it wasn't free forever.

Post: Did I hear David Greene correctly this morning? Cash out 1.5MM retirement fund?

Account ClosedPosted
  • Investor
  • Scottsdale Austin Tuktoyaktuk
  • Posts 4,205
  • Votes 4,153
Quote from @Jay Hinrichs

@Chris Seveney:

Quote from @Account Closed:
Quote from @Jay Hinrichs:
Quote from @Mike Terry:
Quote from @V.G Jason:

It's just advertising at it's core. It's a REI site and it's going to be pushed at any expense.

I mean ****, you don't see much better on the forums. There's threads daily about the nonsensical things people do to be a "REI" at the expense of their actual stress, daily lives, and families well being. There's turnkey providers with predatory 2-year balloon options on houses, one's with 50 1-3 post people show up to support them. Have you dealt with agents on this forum? Horrible and slimy, for the most part. It's just the core of this place, you need to filter through the ******** to really see the best of it. There are great people here and great sources, though.

 Thank you for your response.  I know there is lots of good on this site and in the various podcasts.  I am just disappointed in the tone of the site.  Like everything, the degree of sales vs good advice is nuance.  It is clear to me that it has swung too far and the overall platform is only a shadow of its' former self.


There is no question that the reins have been taken off the mods when it comes to self Promotion
Just look at the Sub to guys virtually every post now is a picture of a spread sheet of one of their deals and of course you to could have a deal like that if you pay them 15k to teach you :)  Not saying the training is not worth 15k very well could be.. but that kind of posts one after another would have never flown a few years back.
Cool huh. Think of it this way, some people learn by hearing, some people learn by reading, some people learn by visual, spreadsheets. I think you understand Subject To but the other 2,000,000 people on this site do not. They need help to understand.

Do people read the loooonnnnggggg posts that people write? Not often.

If you can sum it up in a picture, a spreadsheet and communicate all of that information, why not do it?

And if someone can spend $15k one time and thereby save $80k mutiple times, why is that a problem?  If the savings aren't there, the spreadsheet shows it, Just for an example. ;-)

I get what your saying my point is post like you guys do over and over again in years past would never have been tolerated you would have been admonished by the mods. I know when I first started and did not realize you could not self promote I got my hand slapped a few times. Thats why you dont see me posting on the open forums about my deals were we double our money in a year cash on cash.. or the one I did in Washington state this week were we turned 60k into 115k in 25 days . And its not wholesaling :)   And the point of the original post was how the podcasts have changed and for sure the folks running it back then promoted BP not their personal agendas. But yet again you are able to do a nice self promote off of my mention so your welcome LOL

@Jay Hinrichs: @Chris Seveney:

I am not disputing either of you, but you both make it very clear that you lend money or have funds for investment, which presumably you charge points and interest and are self serving. You don't lend money for free. You do large projects they may be interested in investing in and you welcome people to talk to you about it. I have no problem with that. In fact I think it's a good thing.

In fact, shouldn't a place like Bigger Pockets offer resources to investors and the only practical way is to mention what you've done and what you do.

A forum that talks only about analysis paralysis gets boring pretty quickly. People come here for inspiration, help and new ideas. And Bigger Pockets is wise to loosen the reins a little bit.

Frankly, I think because of the previous restrictions, a lot of users simply left for Facebook where I find at least 23 active sites promoting real estate investing with deals included. I like Bigger Pockets and am loyal to it. But to keep the interest of those coming here, it's important to grow with the times.

Most visitors and lurkers are new to real estate, that means they don't have the experience and confidence you and I have. You lend to experienced, sophisticated investors, you make that abundantly clear, I train the new. Everybody that is experienced was once new. It's just really easy for some to forget what it took to get here.

The best tax advice, 1031 exchange, estate planning and asset protection I've encountered is right here on Bigger Pockets. Many talented professionals that answer questions. It's obvious what they do for a living, but I welcome them and I've learned a lot from them. They charge for their services, imagine that. Would you prefer to join a "communty" to learn about real estate taxes and get half of what you need and pay half price or would you take a complicated tax return to a professional and get proper advice?

Post: Starting Out.... Is a mentor really worth it?

Account ClosedPosted
  • Investor
  • Scottsdale Austin Tuktoyaktuk
  • Posts 4,205
  • Votes 4,153
Quote from @Bruce Woodruff:

I agree that  you don't need a mentor, but that they can be very helpful and get you in the game much faster.

I also think like @John Brown that a mentor is not someone who charges for their services......

Which term do you prefer for someone who charges for their experise?

Post: Pace Morby Mentorship

Account ClosedPosted
  • Investor
  • Scottsdale Austin Tuktoyaktuk
  • Posts 4,205
  • Votes 4,153
Quote from @Cody L.:
Quote from @Taylor Nelson:

Pace Morby's mentorship is a transformative experience that transcends traditional mentor-student dynamics. It feels like joining a close-knit family where collaboration and support are paramount. The wealth of information shared is nothing short of mind-expanding, covering diverse aspects of the subject matter.

What sets this mentorship apart is not just the depth of knowledge but the genuine camaraderie among members. It creates an environment where everyone is invested in each other's success. The mentorship provides practical insights, actionable strategies, and a roadmap to navigate the complexities of the field.

Every session feels like an invaluable masterclass, with Pace Morby's wealth of experience shining through. The mentorship doesn't just meet expectations; it exceeds them, making the investment not only worth every penny but also an indispensable part of one's professional growth. If you're seeking a mentorship that goes beyond conventional boundaries and offers a holistic, supportive community, Pace Morby's program is undoubtedly a game-changer.

Taylor Nelson


 LOL this reads like a hostage video.   Blink twice if you need someone to help you.

(always comes from new accounts / first post)

"LOL this reads like a hostage video. Blink twice if you need someone to help you."

@Cody L.: Good one.  Lol

Post: My name is Chelsey Pratt

Account ClosedPosted
  • Investor
  • Scottsdale Austin Tuktoyaktuk
  • Posts 4,205
  • Votes 4,153
Quote from @Chelsey Pratt:

Hi I'm totally new here , been trying to connect with Lee Arnold and pace morby but just can't get one on one assistance on where I'm going wrong or right with my leads. I try sharing something with them and not a single response how am I expected to grow like that, that's one of my biggest downfall's as of right now, but I'm hoping joining this site that things will change for me in the future. 

You can join this site for free. Pace Morby clearly says he does not do "one on one" training. For "one on one" training you need to look for someone that does "one on one" training specifically and that doesn't come cheaply. But, to some, it's worth doing. It depends how what you want, if you will put in the work and if you will still have money left over to invest.

Post: I've been targeted by a postcard mailer. I won't sell. Thoughts on engaging anyway?

Account ClosedPosted
  • Investor
  • Scottsdale Austin Tuktoyaktuk
  • Posts 4,205
  • Votes 4,153
Quote from @Kenneth Westervelt:

Update:

I got another postcard from the same guy. I called the number to be removed from the mailing list. The person who sent the postcard answered the phone, and accepted my request with no interest in engagement.

I certainly overthought this particular interaction. Hasn't been the first time, probably won't be the last. I appreciate all the commenters who tried to empathise with my situation. Hopefully these habits serve you well in business.

@Jim K. Of everyone who tried, you get it the most. Good on you.

At one of my properties I'm receiving 5 post cards a week from the same person. A glitch in the matrix? I don't even like the post card. No pictures of me on the beach enjoying life.