All Forum Posts by: Peter Shafik

@Benny Morfas good job looking up help. It will save you headaches down the road.

Blessings

@Robert Tinker Hi, I’ve heard and followed Mark Furgeson on Insta and in one of the bp podcasts. He mentions paying 25% up front (assuming you trust the contractor) 50% half way (or 75% of the way) then the remaining 25% once they finish. Hope this helps.

@Jay Hinrichs I got a call from ************* last night--automated phone call-- saying that the downturn in our economy has come and it's official. Now I didn't do any research behind this, but I tend to think Dean is an honest guy; but he was trying to promote his course.

Anyway, I would suspect millennials and the such became home owners because their confidence increased dive the last recession. But what would happen if this next down turn happens and their confidence levels drop like Humpty Dumpty? IDK, what are your thoughts?

@Roger Steciak I'm actually pretty close with most of the staff and faculty. I already told them about my interest in REI. I could subtly nugde them by saying something like, "I like to help people retire early" but most of them love what they do.

@Chris Mason I'll b definitely talk to some friends whom have already been accepted to medical school. Great thought! I typically think that students here won't get the full grasp of investing in real estate (because otherwise they would do that instead. After all, I switched from premed to REI hahaha).

@Heath Ryans thanks for that. I just needed some ones perspective. Much appreciated!

Hello. I am currently in my last semester at a private christian school in Nashville. I've always known I should network with people there, but I never actually considered it until someone told me they could be potential private money lenders. My questions is: How would I approach them, and what are somethings I should say? If anyone knows a specific faculty member of a school that is the most busy and has the most money, that would help! I'm not a shy guy, but I do want to go about it the right way. Thanks in advance!

I'm actually in a similar position, with around 100k-200k credit line. Some expert on here is going to give you way better advise, but something to think about would be to keep a good portion of it as reserves and use a good amount on a large multifamily/hotel with the help of professional investors, of course. I had an experienced investor told me he would rather spend 100k as a 20% downpayment on a large multi than use several 20k's as down payments for quad, tri, or duplexes. Hope it helps!

@Grant Rothenburger I was going to, but it seems plans have changed. For now the plan is to continue living with my family in our primary, and letting a family member either live in one unit, or just getting the multi to cashflow, while potentially getting a single family with a furnished basement for the family member. 

@Elyse Wiser I don't have an answer for you yet. I would need to explore more options just to find out. I will message you soon. Thanks so much for looking out!