All Forum Posts by: David P.

1. @Adrian Lee asking for a mentor is half the battle, and like @Erik Hitzelberger indicated it also important to know your goals, however I will add personal experience here as well.  Don't wait for the right mentor to come along; it may take a long time, and it doesn't hurt to have more than a few mentors.  These mentors will teach you different things, and help you through the process; even if it is just a thought.  Finding your passion and your niche - this takes time, but don't limit your options!  
2. Knowing the goal(s) helps define the road, but having the exact vehicle isn't always clear, so start small and work your way up. BP is a great source, but not the only source. Start attending local REIA groups and be active on the forums as well, and if you dedicate a few hours per week, you will become more knowledgeable and confident to make the deal happen.
3. Best of luck and hope you have an excellent future!

Has anyone done business with http://www.guaranteedprivatecapital.org?  On the forums, individual indicates to send email to [email protected] and I received a reply back from a gmail account asking for some personal information.  Prior to moving forward, I want to ensure that this is a valid company and that others have done business with them.

Any information would be greatly appreciated,

- Dave

Welcome to BP @Dave Iadarola I am in the Denver metro area and can recommend a great Real Estate Agent.  She has done a few deals here for me and trust her greatly as she has become a good friend over the years.  

As you may know the market is pretty hot here in this area.  I am not saying that their isn't any deals to be had, and it sounds as if you have an eye on a potential candidate which is fantastic but there are many other investors in the area that tend to snatch these properties up very quickly.  

Additionally, I have contact with several lenders in the area that can do these types of loans; the harder type loans that normal banks will not touch.  Just PM me and I am more than happy to share these contact.  

Best of luck and hope you have a successful future!

@James Williams  I am looking at expanding my network to Austin area; any helpful advice or guidance you can provide in this area would be greatly appreciated. As we expand our network outside our home market, we try and and network with other individuals from surrounding cities to help us understand the dynamics of the cities we are going into. These perspectives along with other research give us a great view into these areas. Last night we met this guy who lived in Austin for over 3 years and made some great recommendations for and against certain areas. And as we peel back the layers to making us fee comfortable with different areas, the we will start investing.

@Edward Synicky you are so right: "Some say that your net-worth equals your network" Since joining BiggerPockets and my local REIA group over a year a go, I have have more opportunities come my way it is incredible. Specifically the relationship I have made (even virtually) helps me grow both as an individual and my business. I am also mentoring 4 other individuals which I don't think would have done prior to joining BiggerPockets.

Welcome @James Williams there is a lot of great advice and material to get you started. I have found that the Podcast very helpful in getting started, but also the many blog post from individuals and their experiences.

I noticed in your response, you are trying to tag a few people; but it is not highlighting the name like others. This is not real clear of how to properly tag someone but I hope I can easily explain. Once you type the "@" and the first few letters of the person's name you should see a small box at the bottom of the Text box you are typing the message in; here you will see the person you wish to tag, so then you can just click their name, and if highlighted then you did it correctly.

What this does is notify (email) the people you tagged that you responded with some additional information.  I don't often monitor the conversation as this becomes overwhelming with notification unless I have a real interest in knowing what is happening within the specific post. 

Hope this helps and that you have an excellent investing future!

@Lauren Apicella welcome to BiggerPockets.  I have read a few of your post, and I realize it can be overwhelming just getting started, however keep your head in the game. Reputation is key when getting started because it is a new process and the more you read and learn the easier it becomes.  The deals can sometimes be the hardest to find, but if you know your strategy and have a plan - not just goals will be important.  

Often beginner investors (including myself) had lofty goals, but never defined the steps - I didn't have a clear path to achieving my goals.  Take an hour; write down 10 goals no matter how lofty they are, and then start defining the steps to get there.  

Trust me - its hard to do but well worth the hour or more you spend doing the initial through process, but then things become clearer and you may have to revise along the way.

I wish you great success!

@Andrew Martel this is great advice!  Being organized is probably one of the hardest things to do when you work a full-time J O B and time management.  Your 4 cents are well worth the read even if it was free;-)

Welcome @Dan B. to BiggerPockets.  You are on the right track but being in CA, you may need a bit more $ to get going.  When talking multi-units, I assume you mean something like a duplex right?  If so do an owner occupy property which will require lower down and you live in one side for two+ years while you accumulate the money for your next property.  

Keep reading the forums and do key word searches and you will most likely find the answers to your questions. If not keep asking and you will find the answer. Also, it would be a good idea to become a member of your local REIA group where you can network with locals and maybe even ask someone to help mentor you in your niche area.

Hope that helps, and hope you have an excellent future!

Thank you @Curt Davis and @Account Closed for your input.  I have to say that the line on my personal residence is not an issue, but like you Sydney I want to keep it out of my investment mix as well. 

As I grow my portfolio, I want to continue to keep some equity in the property but also don't want to limit my potential of leveraging.  I think my initial goal is to get as much "Cash Ready" to be able to purchase the next investment(s) - preferably 8+ units.

As I move forward - different money tactics are becoming more apparent to me and opening my mind to other strategies of creative financing. 

Good morning @Stacey Olson you have a lot of things going for you... 1) you are motivated 2) You are not a Real Estate agent and 3) you do have access to MLS - for active properties. Let me explain why I put these positive points here for you. As you will read in many forum post, many investors may have some combination of or even none of these items you identified as hurdles. These hurdles are self imposed and limitations you are setting for yourself. You do have a lot of great things going for you and best of all your partner/husband is on board!

Now taking a step back; many markets are difficult to find good/great deals, but don't rush it. Keep digging and look at other approaches to doing business - which you are... here on BP! Connect with wholesalers and let them find you the properties, you may get a better deal than you would off the MLS and that is their strength and maybe your weakness. The key here is to know your strengths and weaknesses (and I get it, being new you don't know what these are yet) and build relationships with people that can help you succeed. When "they" talk about building a team, you network with other investors and as you feel comfortable doing business with them you "Add" them to your go to people to do more business.

A Realtor wants to focus on listing and selling properties - this is how they feed their families. So don't waste their time, if you are searching MLS - look to RedFin.com, if RedFin is not in your area, try finding your local MLS or use realtor.com. Here you can search the active listings and as you go through find older or new RE professionals that are eager to do sales... these are the ones that send you stuff in the mail. They are marketing and are hungry for the sales... and they will often work with you especially as you network more.

All that said, it is also important to get to other REI groups in your area. BP is good, but not the only tool available for networking. REI groups add value and you will meet other investors (mentors), Real Estate Agents/Brokers, Private/Hard Money and even a Wholesalers. So please don't "shut up" get out there and talk to people, not just here on BP, but at REI groups and tell your friends - hence where you may find great deals!

Hope you have an excellent future!

- Dave