All Forum Posts by: Orlando Paz

@Steve Vaughan - Awesome advice!... There are two guru's who have mentioned only renting to nurses. It makes sense to me, but the legalities behind it, left me scratching my head. Somehow, it would be like painting a bulls eye on my back. Your feedback makes total sense.

@Thomas S. - Much like Steve's response, it makes total sense. The screening process, and parameters used, should help in the screening process. As Steve mentioned, It certainly would not hurt to target certain places that employ the type of professionals you hope to have.

Thanks guys. 

With all the laws pertaining to tenant selection, can I legally focus on marketing to certain professionals? In other words… if I would like to rent to nurses only, would I be putting myself in potential legal danger? Any feedback is appreciated.

I tried doing a search on Joe McNamee here on BP, but failed to get any results. He offers a training/mentor program, with a possibility of future JV's. The opportunity to do a JV is considered, once you have become proficient with the training portion of his program. After doing some research, I feel comfortable with what he has to offer. He seems to be legit, and open about his business. His program seems reasonably priced, for the value offered. In trying to learn as much as I can about someone, I would like to know if anyone has gone through his program and what the experience has been.

Also, I am already aware of the advantage of getting free info on BP. I am personally looking for help with the added bonus of mentorship and JV potential. Right now just doing my due diligence, before jumping into any program. As always, any feedback is appreciated.

This is a rare response, as I am a believer in getting knowledge from diversified resources. I would say that BP is probably the best place to start. There are other books and great resources, but a good place to start is right here. Also check out some videos online, those are helpful but tend to lead to a website with a sales pitch (just a heads up). Good Luck!

Great post! and well thought out. We are both new at this, so I can relate to everything you have said. Only comment I have on local REIA's, is to join without any expectations of finding a mentor or partner. Many of the real players at these meetings, seem to politely steer clear of newbies. They will answer any question you may have, but I think they prefer to chat with other players that offer more opportunities. Anyway, just my observations. I totally agree with @Jay Hinrichs. Wholesaling, does involve lots of sales and marketing. Let me also add that it involves some "know how" in estimating accurate rehab and holding costs. This is what will determine if you have a true deal, through the eyes of an investor. A common complaint with many investors, is the lack of true deals that wholesalers offer.  Without taking the numbers into account, you can easily set yourself up for failure. If you choose to use real estate as a source of building your funds, I would suggest looking into doing lease option deals. Once you understand the basics, it can be an even cheaper way to get started. You will still have to do some marketing, but the excessive marketing expense and fishing for distressed properties will be greatly reduced. You will also be dealing with "pretty houses", as opposed to broken down shacks in war zones. 

The "guru's" can offer great mentor ship programs. Unfortunately, they can be pretty expensive. Often times you hear that finding a mentor, is simply a matter of networking and finding friends. It can be true, if you are fortunate enough to find someone who is willing to help and has the heart of a teacher. Unfortunately, many active investors have very busy schedules and simply cannot offer their undivided attention. Many don't want to take on the commitment and possible responsibilities that may come from being a mentor. Other's come from the school of hard knocks, and feel that anyone who is "hungry enough" should figure things out for themselves. I have also met some awesome people on here, and through my local REIA's. Many will always offer advice and opinions. Although I can't say that I have a mentor-student relation with most, I do have one person that comes pretty close. Like yourself though, I am always looking for a mentor who will almost consider me his "partner in crime!"... not an easy task, but not impossible. I guess as relationships grow, so does the opportunity to develop such a relationship. I would also advise that if you do choose to pay for a mentor, then go with a local one who knows your market.

I stumbled upon his name on here, as he happens to be a BP member. As many educator's (or "guru's" out there), he offers training in wholesaling and lease options. What I find intriguing about him, is that his training is affordable and he also offers to partner up. For me, that is huge!... it would be better if such a mentor were local to me of course.  Unfortunately, I have yet to hear of one that is affordable (anywhere) and offers an option to partner up. I know that many will say that BP offers free info. I understand that, but I also need some "hand holding" in the process. Just want to make sure I get my first few deals with some level of confidence and reassurance. Any feedback (good or bad) on Joe Bodek's training would be appreciated. 

@Joe Escoe- Although I am not looking to be a wholesaler, his course on Wholesaling seems like pretty standard information. The basic ideas behind wholesaling don't seem to change much. The only things that change are the methods used to find sellers and buyers. Also the methods used to market to those two parties. I am personally looking at his lease option courses. I am only doing the trail for now, and quite frankly may not be able to continue with it. Nothing against the course, I'm just personally unable to pay an extra $59 per month at the moment. Obviously, I'm not pushing his course if it's not affordable to me. I also have no connection as a student or employee. In other words, I continue to recommend that you make your own choices on this decision. I'm only giving you my opinion on my own personal journey. I would recommend you check check out his videos online (that's free), and perhaps take up the dollar deal and cancel before the payments kick in. You could also do as Mr. Gulley recommends... "run" without looking back. The point is you need to find what works for you. I happen to prefer learning for free, but I keep an open mind and feel that I need the extra support, accountability, and local market knowledge. As I had mentioned, BP is an awesome place to learn. From my personal observations though, the forums give you lot's of opposing views. It's a great way to pick and choose who's advice makes sense, but it can also get confusing at times. Sometimes the well intention advice may be straight out inaccurate, and based strictly on opinions and pre-judgements. This post has offered lots of info and entertainment (I'm sure! lol!)... Just do your homework, look at the pros and cons, and decide what works best for you.

@Valerie Hiscoe- No offense taken. You are right on several things... I have not gone through his course, and I have not made a single deal. I am only doing the 30 day trial, so I won't be able to squeeze in all the material offered in the site. Obviously, I won't be able to give a personal accurate evaluation on the effectiveness of his training. On the other hand, I do know of some local people who are part of his training, and have done some pretty impressive deals. Although they are devout Ron LeGrand students, they don't push me into anything. As I told Joe, it's a personal decision. 

@Joe Escoe... Hey Joe, I happen to know of Ron LeGrand. He happens to be a local "Guru", "Instructor", or whatever label there could be put on someone. Although I am not a part of his more expensive programs, I am currently doing the dollar deal that you mentioned. It's actually due to expire in about a week. I have to say that I am considering maintaining my subscription for a little while. I live in Central Florida, and he happens to reside in Northern Florida (Jacksonville). BP is certainly a great learning resource and a great way to network across the board with many people across the country. However in my opinion, I like the idea of learning from someone who is local, and familiar with the local real estate market. His Goldclub membership, also happens to have a wealth of documents that are specific to my market. His teaching's focus around Wholesaling, and various lease option techniques. Many of these techniques are taught by other's on here, but again... I like the idea of working with someone who is in my market. I have also gotten to meet with several people who have done very, very well by being a part of his more expensive programs. Would I ever spend so much money on an education?... Well, certainly not now and possibly not anytime in the near future. I will say that I personally do see value in what he has to offer on a month by month basis. With time and success, I would probably consider buying into the more expensive stuff. As I see it... many go to college with a dream of becoming some sort of professional with a false dream of guaranteed success and entitled fortune. If you find a legit local educator, you will be paying for an education as well, that could actually make a huge impact in your life. The HUGE factor here, is that you TAKE ACTION, and actually apply what you learn.  College diplomas offer knowledge, but you are basically taught to be an employee (for the most part), and basically seek out a job and join the rat race and all the drama that goes with it. When it comes to an education in real estate, no amount of schooling or hanging out on BP will yield success, unless you do what exactly what you are being taught. If you choose to pay for an education in real estate investing, it should be an educated choice and an investment in and of itself. Choose wisely and preferably pick a reputable and proven educator ("guru") who is close to you and offers value for the money spent. Also, don't go crazy buying into the expensive programs. Start off with something that is affordable, then decide if you see enough value for yourself and/or your business. Then maybe consider taking the plunge. What I have come to learn since being a member on BP is that there are many who teach real estate investing, who in turn call other educators "guru's", with the implication that they are shady. In turn those who are being called "guru's, are doing the same thing. They are also calling other educator's "guru's" in a derogatory way. So pretty much everyone who teaches real estate investing, is pointing fingers at each other in disrespect. Again, make sure to do your own homework on this. Good Luck!

I'm looking into the possibility of doing some bird dogging. Not sure how a bird dog can protect against not getting paid. Any thoughts or advice would be appreciated.