All Forum Posts by: Account Closed

Yes ma'am, if you have something to offer your mentor, you can be mentored for free in some cases. 

Financial independence from passive cash flow is the ultimate way to earn money, in my view. So that's a big motivator. 

But I don't do what I do just for myself. I buy affordable homes in my city and then owner finance them to hardworking people with zero credit history. We help hundreds of families in our city become homeowners, people who usually rent forever. I have seen the proof on the ground of how neighborhoods improve when many people own their houses and stop renting. 

It's actually a Christian ministry, and it is something I am very proud to be a part of.

[SELF PROMOTION REMOVED BY MOD]

I bought this house for $51,000 cash in November 2013. A year later it has been mostly rehabbed by the owner finance buyer and is worth 120k or so. Landlords can enjoy their rehabs and repairs - I leave it to the end buyer :). 

after

I invest in a city with steady appreciation, nothing crazy, but it doesn't dive that much in a crash. More important to me is CASH FLOW - I want 12%+ cap rates and no maintenance on my houses, and I generally get that. I buy 50-60k houses cash or with cheap opm and owner finance. 

I also will add this - any new investor should find a good FREE mentor to help them in their niche and market. It's possible, I did it. My mentor sends me great deals that make me money, and he teaches me his niche of distressed properties with owner financing. he makes money off me when I buy deals, so it works for both sides. I also help him with various administrative and gofer type tasks. 

I've also been criticized for not doing what others do on this board.  Whatever. I love what I do and it helps my community. 

I use a solo 401k to invest my money in 50-60k distressed houses, which I then owner finance for a cap of 12-14% in the current market. I also do flips for 5-10k to build cash to buy more houses. 

Finding cheap deals is key. Most new investors are indeed chasing a lot of bad deals that have had the price driven up. 

My partner finds the deals 30% under market value and I buy when I can with my many or OPM. That's my advice to rookies - team up with a good partner in your area to feed you good deals. You can find them if you offer that person something in return. 

My first deal I got in my city was 51k cash, 16% cap rate, no repairs (I owner financed) and it's worth well over 100k now after the buyer rehabbed it. That deal my partner found for me. He got paid when he sold it to me sure, but I've made that commission over 10 times already.

Looks like a fair deal Jim. Care to share your TK contact? I might be interested. 

Class C in my city every day of the week 50-60k cash, owner financed. Unlike many on this board, I never do repairs. It's the only way to invest in residential, as far as I am concerned. Good luck, ma'am.