All Forum Posts by: Nicholas Preston

Thanks Raj!!

That was brilliant!! I typed in LLC in my local GIS and boom! All of them

Searching my local GIS for owners who have multiple single family homes or multifamily houses. This is taking forever, does anyone know of a better way to search or how to get a list of owners with multiple properties in a particular town? Anything to make this easier would be great and I appreciate it!! Want to try to locate a portfolio of properties and make them an offer.

Network with other local investors!!!! I am part of a group of 6 buy and hold investors in Danville, VA who each have their own portfolios but act and keep everyone else involved like it was a partnership! We all became best friends and share ideas and leads with each other. No way can we buy everything available so we pass deals on to each other and grow everyone else's portfolios. We work for ourselves and each other, makes for a competitive yet encouraging atmosphere where we celebrate the other's accomplishments. We have over 150 units between us, far far more deals than doing everything alone.

If I wanted to make passive income... definitely move out of California first! 

Have done over 10 owner finance deals in my area and love it!! They tend to be homes that need some work done that shuts out most retail buyers who want move in ready. Also mine are typically under 50k where a bank wouldn’t lend on that low amount anyway. It’s a home where more than likely only an investor would be interested. The seller still needs to get rid of it and I can help solve a problem. Usually I can give them closer to their asking price at 6% interest over 8-12 years. Most banks cap people off at 4 to 10 loans so this is another way to keep going! Do it!!

Negative rates will happen in conjunction with continued quantitative easing until there is a reset in how our currency system works. Since we left the gold standard  it’s no longer money, just currency and that currency has to expand and debt continue to grow to keep the game going. You will have to pay the bank to hold your money and they will pay you to take out loans. That’s how negative rates work, central banks are inventing and creating tools to prolong financial markets as long as they can.

If the numbers make sense and the property cash flows then pull the trigger. If it’s not a pandemic then it will be something else, you can always find a reason to wait if your not confident or scared. Government just created trillions of dollars, money can be produced and is plentiful. It rewards those with guts and courage. If you can get a cash flowing property then don’t short change future you and get it!!!

38 years old with 46 doors. The plan was 10-15 year loans to have me retired by 50. Cash flow is nice but my wife wants the beach house and no debt by the age of 50. It’s not get rich fast but get rich for sure, I love real estate!

I’ll look into that, could I use the whole thing to buy real estate without paying taxes, deferring them for awhile? I have around 80k now with my current employer and they match. I wouldn’t be able to do that until I leave the company, is that correct?