All Forum Posts by: Account Closed

Please feel free to come and talk to me directly and those who have worked with me for years. The important thing here is that no one is perfect and when you begin to take market share there will be naysayers. Real Estate investing is not easy. Working with Contractors in real estate investing is one of the toughest parts. You are welcome to come to one of my meetups and ask me the tough questions. I wont sugar coat things or tell you there is a pot of gold at the end of the Rainbow. What you get from me is the truth about the business and where the pot holes are. Then I will tell you what can go right. If you would like references of people who have worked with me in the past, I can give you the ones who were not happy and the ones who were happy. Plain and simple. Thanks

Justin, What is you are planning on doing? 

Is your goal to live in one and rent the other 3? 

I am going to say something here that everyone will disagree with. I have been in the business for 35 Years. I have made tens of millions of dollars in real estate and lost 10s of millions of dollars in real estate when the market crashed in 2007 in Las Vegas. One of the things I learned through that extremely painful experience is that buy and hold investing is a high risk strategy. If you do not believe me ask those who bought to hold in Vegas back in 2005 and 2006.

The reason I mention this is that I am a big fan of two strategies. Flipping and Lending. In all of my 35+/- years of experience, I have seen the up and down cycles to real estate investing. If a market collapses. You DO NOT want to be holding assets. 

My two cents. I work with exclusive lenders all day long and we have many clients that are heavily involved in real estate. Let me know if you need any more adverse advice. LOL.

Hey Lamont, 

We have meetups each week and we have Exclusive lenders in our system. The funds deals all the time. The key is that they are relationship based. They get 20% of the deal or Points and interest, whichever is greater. Give me a shout out and I can introduce you to the network.

Thanks

We do 10 meetups a week. 3 are in Charlotte Physically on Wednesdays, and the rest can be heard and seen online etc. There are exclusive buyers lenders and real estate professionals there to meet as well. Look me up if any of you need more networking opertunities.

We have Exclusive lenders in our system and they fund deals all the time. Their funds are higher so it depends on what you want to use the money for. In our system the money that can be made by purchasing more properties out weighs the higher interest and points. So it definitely makes a difference on what you are planning on using the funds for.

Joel we are currently in Harris County and the 9 surrounding counties. So right now in the Houston area. We will be in Dallas/Dallas Fort Worth, San Antonio/Austin Areas very soon. We will also cover all 254 Counties in Texas within the next year. I have lenders and clients that are willing to buy and lend in any area in Texas. Feel Free to send me and email and I will put you in touch with David Ginn.

HI Joel,

My meetup group has exclusive private money lenders that do deals like this all the time. You just need to get in the group and show your face with a name and network with everyone. We are doing deals all of the time constantly. If it makes sense we can normally get it funded. Also it is Peer to Peer based lending so the more they get to know you and you get to know them, the better. 

Thanks

HI Jim,

We have many private money lenders in our group. They are a part of the group and attend the weekly meetups. They are active in getting to know you and can fund up to 100% of your properties as long as the margins are there. Often times a credit union or a local bank can lend you the money, however if you are looking to invest, the value to the private lenders is that their lending is asset based. They do charge interest and points and they make money off of you for sure. The value is if  you can make your lenders money on deals they will give you more money to do more deals. So it depends what your goals are. Let me know if you have more questions.

Hi Deano,

We have a full team of Lenders, Flippers, and Construction Crews. What is you have explained is what I refer to as a HIGH RISK RENOVATION. The normal thing that happens on these types of jobs is that they end up costing way more and you end up losing money and having a bad experience. In my system we do what is called renovating from the crawl space up. We go in and clean out the crawl space set new lighting in the full crawl space, normally 6 to 18 lights. Then we identify all areas that are problem areas, electrical, plumbing, termites, HVAC, Wood Rot etc. We do the same thing in the attic and on the roof FIRST. Most people do not pay attention to the crawl space or the attic and they focus on making the the home look nice, only to have the retail buyer hire a home inspector who beats you up on all the important things you did not pay attention to in the first place. I STRONGLY recommend that have someone give you a solid estimate of repairs that will be truthful about what  you need.

Justin, 

First of all it is very common for people to want to buy and hold. It is taught in all the forums here and 99% of the people out there who say they are Gurus tell  you to buy and hold. I have made tens of millions of dollars in real estate only to lose it when the market turned down in Vegas back in 2007. We had the worst recession on record. I had one property drop from $30 Million down to $3 million. I saw condos that sold of for $150K that would rent for $1,300 a month drop down to $50K. What most people do not understand is that  Buying and Holding is a deadly strategy and is high risk. Not to mention when a tenant does not pay and damages the home on the way out. It works when the market is headed up but not when it is headed down. Take it from one who has over 35 years of experience. I have see the up and down cycles in the market. 

As far as your personal home. Renovate it and sell it and pull the case out. Then because you can buy another home at wholesale pricing. This allows you to get into a cash position with money to invest and to have equity in your next home. Do this asap because you are coming into the best time of the market to sell. 

There are only two strategies I recommend contrary to what everyone else will tell you. You flip to build your wealth and the when you are wealthy you can lend to cash flow and reduce risk. 

You need a team around you. You need a good attorney, a good Mentor, a good Real Estate Broker. You need people all around you who are buying and flipping and lending so that you have a network of individuals who are doing the same thing you are doing.