All Forum Posts by: Nikolas Ferreira

so far Nothing but i think REI is like riding a motorcycle "ITS NOT IF YOU WILL CRASH ITS WHEN"

I believe that everyone that is serious about real estate will at one point or another LOSE money, not because of BP but because its the nature of REI...

and as Adam Meier mentioned above, if YOU NEVER lost money/crashed/lost, etc. at all in anything is because you haven't gone at it hard enough, and haven't even gotten close to the true potential. 

and this is from limited experience on my own here in Texas but I've done more in 3 months than a lot have done 3 months 4 wholesales 2 bought properties (1 flip / 1 hold) so yeah i will eventually lose some money i can only hope that all the made I've made will cover what i will lose. 

just my thoughts! 

Nick  

i thought lifestyles was a paid thing? and never heard of the one with Andy Davies do you have more details on this one? such as dates, times, etc? @Richard Copeland

SO pretty much as the title says, I'm looking for any kind of meet up groups or events that will be geared more towards the MF / Apartment side of things. (bigger than 4 units) 

I'm looking to connect with people involved with those as its something that I'm starting to consider as part of my REI plans!

any suggestions, tips, advice will be greatly appreciated. 

TIA,
Nick 

@Flavio Beato interesting info @Aquila Oliveira

Best of luck! 

@mark 

@Mark Nolan Amazing answer, which brought up a few questions for me. 

1 - would the UBIT also apply if you are acting as a PML for others to do the flipping? 

2 - would a C-corp be needed to perform the above ? money lending, or is that covered on the IRA LLC?

also from you message it seems that a if you are self-employed would be a better move to go with a Solo 401K at least for what i plan on doing. thanks again for the great response. and thanks @Aquila Oliveira for the question 

As Cameron mentioned above, since you are new you always want to be a value add to whomever you will work with.. and yeah the 50/50 split is great as long as you are going to bring something to the table that is worth or at least close to 50% of the whole thing. 

Happy hunting!
and Happy New Year!!

Nick

Well what Kevin said is true, unless you are doing a wholesale deal. those get done by regular folks without a license. 

@Antonio Foster do you have this property under contract? are you a wholesaler? a little more detail will go a long way! 

following this as well!

Hello Jason,

thats great that you want to take the first steps. couple things to consider and maybe post up here so you can get even more from this amazing community. 

Where you want to buy your properties?

what kind of properties are you looking for ? (condos, SFR, MF, etc) also are you looking for fixer uppers, turnkey?

what are you looking for in your properties? (cash flow, appreciation, value add, etc)

how are you planning on finding them? wholesaler, MLS listing, doing your own marketing.

also one thing that i didnt pay much attention too was how are you going to acquire these? are you doing conventional loans, hard money, private money, cash? and that might help you consider how and which properties you can/should pick up. 

cash = anything 

HML/PML = just about anything as long as they agree with you

conventional = normally just MLS listings.

hope this helps 

Happy Hunting 
Nick