All Forum Posts by: Paul Stone

@Nick Britton. Plow and my other contracts are interior work. So, winter is covered.

@Paul Stone I did ask her and we talked extensively on it. I had a plan years ago and been studying on this site and a couple other last on investing. I will end up having my companies do all the work on the properties that I own. That’s the plan and I will get there. Thanks for all the comments.

Let’s start by saying, holy cow! I came home from work a couple months ago, I had to tell my wife that I had just spent $600 on lawn equipment and didn’t talk to her first. Man, do you want to see someone get super angry? Do that! We had a talk about it and I assured her it was going to be fine. My plan was to pick up a couple lawns a week and pay back what I took from the account. You can insert Facebook here! I then turned to Facebook and the surrounding communities to look for lawns to mow. The replies were unrelenting and I quickly paid back the money I took without asking the wife first. These lawns that I picked up turned into building decks and remodeling homes. Now in the short timeframe this has gone, I have two companies, one landscaping and one construction. I have landed a couple of pretty big contracts for multiple buildings to remodel and I just put in my notice at my full time job. I plan on within a year to begin investing in properties with my own capital and growing even bigger. I just wanted to let everyone know that with a little extra work and a solid plan you can accomplish your goals! I already have solid income and a future plan that will help my family be more stable and I can show others how I did it!

Good morning, I found a deal in the southern New Hampshire area. And I am going to flip this property for a great profit. Working with a hard money lender, found a partner that’s willing to go In On it with me! Now I just need to hold up my side and get the cash together that my partner is expecting! Super nervous but I love the grind and don’t think I’ll ever stop! Wish me luck and I’ll update as I go along! Good luck everyone on your ventures..

How about helping them achieve what you have?

Have you looked into New Hampshire for a rental market?

  If not, you should!!

In this fantastic state we offer everything for the year round our doors enthusiast.  During the warm months we have hiking, fishing, boating everything...And during the winter months we offer ice fishing, snow shoeing, skiing, snow boarding, snow mobile trails and MORE!  These attractions are not the only ways to get great rental incomes, you can also take advantage of Air BnB or just weekly rentals during bike week, NASCAR and a variety of other great events that only new england will offer.

  I am currently in contact with motivated sellers that want to move their properties and get them in the hands of investors like you.   I have list of single family, multi family and land ready for you to build on.  When you send your contact information be sure to leave information on what type of property you are looking for and what you would like to spend in an untapped market like this.

  I look forward to hearing from you and starting a very profitable partnership.

Paul

So, the multi family (3 unit) did not pan out.  We could not agree on a price, but that is part of this process.  you win some and you lose some.  But, on the 20 unit: this owner will not budge on the price.  I threw a couple insane terms his way and he has bit on a few of them.

  So, negotiations are open!  He is willing to owner finance at 2%, I offered $15,000 down payment (laughable) and he laughed.  And he will cover closing cost.  

  The issues:  Need collateral, credit worthiness.

  Now, I just have to figure out how to get a down payment that would suit their needs and maybe a partner that has collateral/credit worthiness.    This is a fun dance and hopefully I can figure out the moves to get this property in the portfolio!!

the 20 unit just kind of fell into my lap.  I took the advice of BP and started running numbers on one building a day.  The properties I am finding are because of that.  I am excited because it is starting.  Would it be nice to get these properties?  Absolutely!  But, even if I don’t; I’ll gain the experience and over come my fear of doing this.  I know I can and will be successful.  It’s just that first step of the journey that is the hardest.

I will matt, thanks.

 I started my journey in investing to work towards generating a great amount of income.  When I dreamed about gaining my freedom from working for someone and moving into the realm of becoming an owner.  My dreams were HUGE.

  As I started working towards finding investments and building a reputation, I found it hard to bring in motivated sellers and cash buyers.  I found this to be a problem!  I needed to find a solution and this came in the form of a podcast (I will post a link when I remember where I heard it) and through various books/ blogs that I have read.

  I realized that if I took my big dream and downsized it, I would have a more obtainable goal.  Meaning this, I wanted a big house and five cars.  For this, I needed to generate a substantial amount of income (which I haven't even had contact with sellers/buyers at this point).  If I took that giant dream and put it into a smaller perspective of figuring out how to afford 1 car.  I would have much better luck in my endeavor and most likely start moving forward in my progression to self sustainable income.

   This worked out to be true.  Even though I have not landed a deal, I have had much more success in finding buyers and sellers.  Because, my goals are much, much general and simplified.   I am not saying do not have your great goal of a giant house and 5 cars.  What I am saying is life will probably work with you more when you work one at a time.

  At this point (while I am writing this), I am ready to meet a motivated seller tomorrow that will bring me a nice income to cover my car payments and insurance, while putting a few extra dollars in the bank.  This IS a start.  And will bring future earnings.

While I am working that income property, I also have began working a deal on a 20 unit apartment building that will be flipped.  I am excited because this will bring me my house that will create a safe environment for my family to prosper.

  Instead of telling yourself, I can't afford something or I can't do this.  Ask yourself how you can afford something and how you CAN do this.  Your brain will start bringing answers for you and you will see that the smaller picture IS the bigger picture!