All Forum Posts by: Chris M.

I just looked at Roofstock and am also interested to hear from those who are experienced with it. My general feeling about websites like this however is that since the deals are so readily available and there's an organization between you and the property, that means you won't be getting an optimal deal most likely. However, that is my normal feeling and I know nothing about Roofstock.

However, I understand the appeal of just finding a turnkey property on here with a good rental rate and calling it a day. Sometimes making things easier is worth it... hope that others pitch in on this thread that have tried Roofstock!

Thanks guys for the thoughts and comments. I'll address each one individually once again:

@David Zheng First off: well done on the 7 units at 25 years-old-man, rock on... that is awesome! Secondly, I appreciate your thoughts here and think you're right: why should I spend a big portion of my life, time and energy trying to make someone else change? It's incredibly difficult to change others, in fact, it usually ends up being a waste of time. Life is too short... I must focus on my own path!

@David Dachtera I agree with the sentiment, but preemptively know he will decline. It's honestly pointless to even extend the invitation. Yeah, kinda depressing, I know...

@JD Martin Yeah man I wish he would join, but I know he won't. This might be a case of friends just drifting apart in later years. It happens, but it does make me kind of sad. But there are definitely other childhood friends that I've drifted from, it's not an unknown phenomena.

@Sarah D. Thank you for the thoughts, Sarah, and it sounds like you and your husband are on the right path yourselves. Yes, frugality, minimalism or focusing on things that actually matter in life unlike material things are the signs of someone bound to be successful. My attitude has always been this way... I wear sweatpants and a t-shirt pretty much every day of my life, could care less about driving a fancy car. I'm more concerned about financial freedom and complete life freedom in the sense of mobility and time off when I want it. Best wishes to you and your husband on your journey to financial freedom, Sarah!

@Jeffrey Waicak it's fun, there's no doubt... but man, I have so little free time these days that I don't know I want to fill it with weed and video games. Everyone needs leisure time, I know, but for me that's watching a few episodes of a comedy I enjoy late at night when I finally get home to get some laughs/blow off some steam. Playing video games for five hours just doesn't do it for me anymore. With my non-tired free time I really enjoy learning new things (like real estate investing) or being productive in a way that doesn't relate to my business (like my own creative pursuits).

Thanks again everyone for the thoughts this has truly helped clear the picture for me. I'm pretty certain on a path forward now, but I will reply to this thread when something happens/how things progress. Really appreciate this... I didn't know who else to speak with about this and you guys really stepped in and gave me some good advice and thoughts.

I've ordered E-Myth Revisited, @Brandon Turner. But I've got a different book with me today: The Book on Estimating Rehab Costs by J Scott! Excited to dive into this one.

Hey guys, I just wanted to give BiggerPockets a shoutout and am not sure if this is the right forum to do it. But anyway, last night I watched BP Podcast 125 featuring the author of E-Myth, Michael Gerber. Wow! This was the most inspirational and motivational BP podcast I've watched yet. I had heard of E-Myth in the past but didn't know exactly what it was about. Now I'm ordering the book! 

I really love Michael's oldschool cut and dry style... and his motivational words make me strive for world domination (kidding, but this guy is great).

If you guys haven't watched BP Podcast 125 yet, I strongly recommend it... especially if you need a nice big dose of motivation: https://www.youtube.com/watch?v=fPXtqaXq95A

Talk about a diverse set of perspectives! I really appreciate the replies folks. This might take a minute, but I'm going to address each one:

@Sarah Lorenz sorry if I misportrayed the situation in my post: I'm fully grown up, he's not. I'm a local business owner of a company that I turned profitable after the first year running it (the family biz). This year is our third profitable year in a row with double the profit margin of 2014. I'm a full-grown man... it's my friend that's the problem.

@Ellie Hanson This makes a lot of sense to me. It doesn't have to be a big confrontation... it doesn't have to be some dramatic talk... I'll tell him what I'm doing with my life and the things I want to do and he'll know I'm at least being honest with him and just busy as hell. To be honest, I already am pretty freaking busy... but when I do hang out with friends, he's one of the main two that I've got. That's the issue.

@Charlie John Agree with you here, but he is a heavy user. I'm talking 3-10 bong rips a day... a six pack of beer or more every night. It's unhealthy, but you can't change him, can't tell him to do anything. The thing is: he has so many other fantastic qualities... but it's a bummer because the intoxicants really do inhibit his potential.

@John P. I think this plays into the point that Ellie had... it doesn't have to be anything dramatic... I can just be honest with him and get busier and busier.

@Ryan Cameron what saddens me is that I know it's psychological issues... but he's so damn stubborn there's nothing you can do to change him. He's definitely not happy with his life overall, I can tell you that. He's capable of so much more and he knows it.

@David Dachtera I like that a lot man... and agree with it. If I hang out with successful people, they'll make me want to push myself to keep up with them. When I hang out with my friend whom I am talking about in this thread, I feel as if I'm sinking lower. I mean, how could I not when all we end up doing is playing video games or shooting pool? Man... I'd love to have someone to talk business with!

Thanks again for the replies, really appreciate this and it has helped me think about the situation more clearly.

Hey guys, I'm in a tough spot here and would really love to hear from others who may have been in similar situations.

One of my oldest friends is having a hard time growing up. He's a stoner and plays a lot of video games and doesn't seem to ever be following through with any plans to become something greater. He's pretty much like a brother to me and is one of the friends I spend a lot of time with... but I don't want to be a video game playing stoner.

Something that Josh and Brandon often emphasize here on BiggerPockets is to associate with the kind of people you strive to be like. It makes a lot of sense and I am now actively trying to connect to other business owners and investors to form new friendships.

My question is: have any of you been in a similar situation? How did you handle it and what happened to the relationship? 

I've known this guy since I was five years old and this is a really tough spot. We still have fun times... but for the past year I've been getting a little burnt on weed and video games (I'm completely sober now). I'm determined to become successful and financially free, but feel as though if I keep hanging out with him it'll be like an anchor or at least extra weight that'll slow me down on the path I want to take in life. Am I being selfish? Is this wrong? Like I said, he's one of my main friends and someone I spend a decent amount of time with.

Thanks guys and I sincerely look forward to your thoughts here. This is a tough place for me and I want to handle it in the best way that I can.

@Chris Mason well first off, thank you for your service to our country. 

I'm having a little trouble understanding the example you gave me. You're saying that a veteran who is about to buy a home using a VA loan could somehow make a profit when it's time to close on the house? That sounds amazing. Is this because he doesn't have to put any money down on the house? Any clarifications here would be great.

From what you've told me, it sounds like my best bet would be to perhaps look for a real estate agent that is also a veteran? That might be kind of hard to find. So, if you don't mind, I'm going to send you a colleague request. I really want to help my mom retire in dignity and you clearly know what you're talking about. Of course, I don't expect you to spend a bunch of time helping me for free, but maybe we could figure out a way to work together.

From the way you're phrasing it, it sounds like there are a lot of smart things we can do for my mom to maximize profits and/or minimize expenses... and that's exactly the kind of wisdom we need. I'll definitely be researching VA loans myself more independently of course... but sometimes research can only tell you so much and you have to chat with the serious players to learn the real tricks of the game :)

Thanks again for your help here, Chris, it is much appreciated!

Thanks again for the information guys! I'll be attending the BP Meetup here in Portland on October 11th! Hope to see some of you there.

@Curt Davis you're probably right man. A better solution would just be to get my mom her own house and then get rental properties to manage myself and use the profit from those units to help her out. I don't want my mom to have to deal with tenant BS. Thanks for the heads up.

@Chris Mason this is why this community is so amazing! This information was very valuable to me... thank you! It's good to know that VA loan providers frown on multi-unit properties, I had no idea. I'm wondering if there's a certain agency or place that you would recommend getting a VA loan from, or if they're all basically the same? I've also checked out the link you provided and found some other potential veteran's benefits that my mom might be entitled to! Thanks again.

Hey guys, my mom served in the army for three years during the Vietnam war (but was not deployed overseas). I'd like to help her get qualified for a VA loan so that she can finally get a house of her own (she's still renting at the moment). To be honest with you guys: I have no idea where to start! Is the government the only provider of VA loans? Are there certain requirements based on her service?

If anyone can shed some light on the process of getting a VA loan for my mom, preferably with little or no money down, it would be sincerely appreciated. I'm guessing there are some things I should watch out for and that you guys have some wisdom to impart on things to avoid, things to pursue etc.

Ideally, I'd like to get her set up with a multi-family or duplex so that we can get a tenant or two and do house hacking as you guys call it. However, we would definitely need to use property management (another area that I have to research!). I just want my mom to be able to retire and live in peace.

Thanks to anyone who can point me in the right direction on VA loans for Vietnam veterans.