All Forum Posts by: Paul Crowson

Hey there Sean, my two experiences with trying to partner for the profits with a good GC have been challenging, even here in Houston, with endless deals, and lots of REI clubs with networking for GC's...I was very cautious and took my time checking out GC's before settling with one for two deals....he has done 300 deals so quality of work was great with all the people i talked to and some of his work I inspected.....breaking down the numbers to get him to agree to 50% of the profits, and not get paid anything for the rehab is something he has agreed to only on the third deal which we are close to doing....he partners with several others ....but I had to prove myself to him also....I have now found in the last 2 years of getting to this point that there are shady characters on both sides of this equation you are talking about....I have been trying to work with other private investors that have some $$$$ like 100k up to 500 k and want to do deals....but most I have met haven't been willing to bring anything else to the table....and want 50% of the deals....and they can't provide any kind of referals or are willing to do anything else....so I would say that it just takes a lot of give and take to make it work....at least for me being a newbie in REI, but I have construction experience and can fund the deals....

Yes, the yellow billboards work for we buy ugly houses...it is one source of buying properties at a pretty good discount usually, but with anything else, due diligence is your job to be comfortable with...

For me at least, I couldn't do it with an out of area mentor or coach, I wanted good access to the person and the deals, put my eyes on it, but I'm in Houston, which has a lot of inventory, I don't know where you live, if the inventory of coach mentor and deals will support it , or your risk tolerance for something that isn't local to where you live. As to the costs being worth it, I would say for me I checked them out thoroughly by references from others before I moved on spending any money being mentored and coached, and I then paid handsomely to 2 different and very successful individuals, and a local club as well....it was well worth it because I was held accountable for taking action as the deals were coming in to make it happen....I made the people hold me more accountable than I think they even wanted to be....they kept telling me most people won't do what we tell them they must do to be successful in REI....so that is what I did to get going and be successful in the REI....took action along the way....it costed me 5 figures in coaching and mentoring and costed me sleepless nights to change my mindset about what it was going to take to get the job done...some people say it takes 10,000 hours to perfect a new skill...it didn't take me that long and I'm not perfect but I am doing well in it and I really love it as well...and I was 50 yrs old when I started so had a lot of preconcieved ideas and mindset to change....but REI is a great thing...worth it for new friends, $$$$$$$, time and freedom....focus...etc....hope this helps you!

I'm on the north side, the woodlands, other than being BP and active REI are there any other requirements to join this event?

For me its strictly a local issue for the best real time comps,,,,several of my local rei clubs have subscription based websites that do it well. It costs a little money but it is very well worth it. im in houston ,,,texas

Very little REI background until about a year ago. 1 good cash flow rental property, eventually pursuing more of those after I build up more reserves from the flipping I'm doing now. Enough construction and remodeling background to know houses pretty good. Left construction to now Working a full time job as an RN in the Operating Room (20yr)...love it but no retirement, so pursuing REI to eventually have 10k monthly cash flow...

If it were me as an investor in this deal Maryann, I wouldn't do it, I would want 1st lien position, or at least to know of a lot of success you have already that is verifiable with references...