All Forum Posts by: Tony Stephenson

Oh wow, this is awesome. I'll be there

 Amit, 

Try out your local REIA club and ask around to see who's an investor agent. Then just have a brief conversation with them about their firm to see if they fit what you're looking to do.

Personally, im staying away from the big firms and looking at going with more of a local firm who's Owner/Broker is also an investor themselves, that way we're all speaking the same language. 

I've found it challenging trying to talk to an agent who isnt an investor nor works with investors. 

Awesome, what market are you in?  

Hey BP, im going to be completely transparent with you and hopefully this helps someone. 

Two things I want to highlight 

1. Be careful who you take advice from 

2. Ego is your enemy 

A few years ago when I was introduced to Biggerpockets I met an investor who advised me against getting my license because of the laws when it came to doing certain deals and because I knew the size of his portfolio I took his advice. Well, just because something works for one person doesn't mean it'll work for you too, still do your due diligence just like anything else in life. 

Where my ego started becoming my enemy is when I was meeting other people at real estate meet ups and they were talking about getting their license and I guess you can say I looked down on them in a sense because I had gotten advice from this big, bag investor who advised me against it. 

Well 4 years later, a few of them have done multiple deals because they weren't just official meet up attendees with no real money or resources, they were actually in the game because they emerged themselves in the world of real estate at the most entry level possible. People think wholesaling is the easiest way and they could be right, but if you ask me, getting your license and finding a investor friendly firm to work for has to be the easiest of them all. 

You don't have to bug people to take them to coffee when they have no idea who you are or if you're a real player or not because you're right there in the same fight as them, you're now just where they were when they first started and now they'll be more open to helping you because now you're also a resource to them, especially once you find your first deal, more than likely they're going to be the person you JV with.

I believe those 4 years did me some good in the grand scheme of things because now im more mature and educated. So i'll be taking my exam next month and getting heavily emerged into the real estate industry.

I'll keep everyone updated on my progress. 

Gotcha, thank you @Taylor L.

Awesome write up @Joseph Ball thank you

Hello BP family, 

Outside of the Navy, Im currently working with an insurance and investment firm and I sit down with a lot clients who have money sitting in their IRA's that they could be using to invest in real estate. My question to other advisors here is this, is it illegal for your clients to become your private money investors by educating them on how they can use a Self Directed IRA to invest in Real Estate?

 Awesome, thanks Trevor

Hello BP,

When working with a realtor and the seller decides to owner finance, how would you compensate the realtor for sending you comps, submitting offers, etc etc without feeling like their time was wasted?

I ask because I like doing good business and I would never want the agent I work with to be cut out of the deal after providing me the information I needed to acquire the property

Hello BP,

I've found a private lender who would like to partner with me on the duplex I have under contract.

I've asked him are there any pre payment penalties, can the loan be with my company name and do I have to put any money down?

Are there any other important questions I'm forgetting here?