All Forum Posts by: Jason James

@Matt Miller This is a tough one..... I have a daughter who I have tried to get into the business for years! I tried many different paths to get her involved but she wouldn't bite. That said her fiancé is hooked and I have been mentoring him for a little over a year. He has purchased 6 rentals with none of his own money and flipped a property since we started about a year ago. He is doing great! We are now working on a property he bought to rehab and move into.

My point is this. You can try to get your children involved in your business (real estate) or any other business but in the end you must let them find their own passion and happiness. It seems logical that if your children see you living a successful life in business that they would want the same. Not true. Everyone has different wants, needs and desires. I know this doesn’t really help you to get your children involved but maybe it will save you the pain of feeling like they don't respect you, believe in you or want to be involved with you. I felt a sense of loss when my daughter wasn’t interested but later realized she is her own person and is now doing great! Hell I didn't know what I wanted growing up and still change directions it seems daily! I like it that way now as it allows me to be flexible and helps me to grow. I learn something new every day!

In short if your kids love real estate or your business and get involved great! If not great! Just love them and support them on "their” journey.

Rambling complete… LOL 

@Bryan Gay Great info. If nothing else the convo gives others some insight. 

@Bryan Gay I say post

@Bryan Gay

 Good info. It caught my eye but is a little out of the areas I like. Maybe someone can get a deal on it. 

Renovated Apartment Building with 28 Units (Radcliff KY)

I just ran across this doing my daily Craigslist searches. I don't work in this area or know anything about the area. Just thought I would pass the info along. 

@Randy E. You are welcome. Helped me as well. Good luck building your portfolio.

Since I passed on this deal I have closed many "better" deals. Sometimes it just works out better than you think. Point being to all others keep pushing and you will land GREAT deals. 

** UPDATE **

This deal is gone. It was purchased by another investor per public record for $329k. Good luck to the buyer. 

@Joe Bertolino The building was owned by a guy who left it to his girlfriend upon his death. She had issues to say the least and the building was neglected in turn all the tenants moved out slowly. She had the building leveraged and lost it. An investor friend of mine purchased the building but decided he did not want to take on such a large project. He then reached out to me and we began negotiations. 

We could not come to terms as he felt the building was worth much more than I did. This guy has MUCHO cash and properties so he was in no rush to move the property. After many months of back and forth I decided to move on. I may reach out to him again to see if he is ready to let it go at this time.

This building needs a complete rehab top to bottom! I think there is money to be made but again I would have to buy it right. The area is "OK" (C properties) and there is limited upside for this building. I will reach out to him again and give you guys an update. 

@Kelly Bankes

I have been to many of these. I have had some luck there but I will tell you that 98% of the properties are purchased back by the bank. The remainder of the properties I find people overpay for. In other words I think it is very hard to get a deal there on a regular basis. I have been hundreds of times and I think I have purchased a total of 4 plus deals there. If you want to get deals there you must go all the time. I only go when there are properties I am really interested in on the list as I am very picky about my deals and I wont buy just to get an OK deal. I wait for what I consider GREAT deals. My thoughts are real estate will always be available so why push it and buy something that isn't really a GREAT deal. Also 99% of the time you can't get in the properties to see them before purchase, although I do look at them in some fashion. It's a little more risky than other ways of getting deals. All that said the 4 plus properties I have purchased there have been great deals. It's really luck of the draw. 

I would suggest you go and at least get the experience. It is a good place to network and to learn from others. Also it helps you to understand the market even more. I always say if you aren't learning your losing. Never hurts to have another tool on the tool belt.

Hope that helps. 

I haven't been in a while so I will review the list and if there are any properties I like I may go. If so I will let you know.

@Brandon Turner Happy "BRRRR" thday