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All Forum Posts by: Quang Tran

Quang Tran has started 11 posts and replied 38 times.

Post: Investing In College

Quang TranPosted
  • Sacramento, CA
  • Posts 40
  • Votes 9

@Rick Versace Thanks for the advice, I appreciate it! I am currently considering to partner up with my roommate who Ive known for a year now. We've become good friends during our time spent together in college and hes actually the reason why i even put thought into real estate investing. However, he is on the same boat as me with little to no experience and knowledge in Real estate. Would it be a bad idea to partner with someone on the same boat as me?

Post: Investing In College

Quang TranPosted
  • Sacramento, CA
  • Posts 40
  • Votes 9

@Jason Chen @Carl Pickens Ill definitely take student loans into consideration when trying to seal a deal. I think its a pretty good idea and could see why one would do it. But first I still want to learn the ropes on everything I dont know. Thank you guys for your advice and input! 

@Jonathan R. What you said about "You can defer the payments, forbearance, income based repayment, etc as you continue to build up your business" is all vocabulary i still want to know. Not just know but I want to apply it as well. Sure I can learn the simple definition but I also want ways to be able to explain what it is and why its there. Thats how little knowledge about real estate just to give you an idea. I appreciate your input though and ill definitely try to learn the terms in real estate and broaden my knowledge.

Post: Investing In College

Quang TranPosted
  • Sacramento, CA
  • Posts 40
  • Votes 9
Originally posted by @Jason Chen:
Originally posted by @Mateusz Prawdzik:

@Jason Chen@Quang Tran I am also 19, about to be 20 and I couldn't take another second of that ******** that they were teaching in College. It was my 3rd semester and I was sitting in calc 3 class (majoring in Engineering) and it was a 4 1/2 hour class and I remember literally getting up during our 10 minute break and telling the teacher that all this stuff that she was teaching was absolutely pointless and that it wouldn't help anyone in the real world. I went home dropped my classes and decided to do something else. At the time I was still working at a 5 star restaurant for 70 hours a week, I was saving every penny I had and investing a lot into the stock market and trading. I made a good chunk of money trading a couple of stocks I got lucky on finding but I also lost a lot. I decided to start wholesaling in September of last year and I wholesaled 3 properties in the course of 2 months. I quickly figured out that wholesaling was also not too fun because you can work a lead for quite sometime and it can lead to nothing. (though I was only doing it for 2 months, it sometimes felt like I was working a lead for years...) So then I started to flip. I had maybe a couple thousand dollars in the bank account, most of it I always park into the Stock market and I never pull out now because I don't want to get capital gains taxed, and I started to look for someone to partner with on my first deal.

This was all about a year ago... Since that time, I have done 5 wholesale deals, and completed 8 flips in collaboration with my partner. I am still 19. I am turning 20 in 3 days.... It was one of the riskiest decisions I made in my life and I had to put my everything on the line, if I didn't perform on my first flip and didn't stand up to my work for the people that vouched for me to the lenders and investors, that would of been the end of my real estate career. But now, everyone that at first didn't trust me, now are coming back to me to do business because of the volume that I am doing. All my guys that work for me (framer, siding, roofer, tile, kitchen, hvac, plumber.. Etc..) they all give me excellent prices on the labor for my jobs. I get better prices than most of the guys that have been doing this for years. 

With that being said, I am very lucky, I can't say I am not because I am that God chose me to be in the position I am in now. I am starting to market my company and advertise and brand my name, to start something new that will be built into a huge corporation one day doing millions in revenue a year. I have a big picture in the my mind, and that is the one thing that a lot of people don't have. They are afraid to take the risk that I took, they don't like to be outside of their comfort zone. Trust me, you will work, I work 18-19 hours a day. I wake up at 6, get to the sites, go to meetings, come home at 5 go to the gym, come back at 630, shower, eat, and by the time I sit down to do emails, marketing, instagram, mailers, BP, it's 2 am and it's time to sleep for a little bit. But that's part of the thing if you are trying to get to the scale that I am at. I mean its 10:15 now and I still have so much to get thru today before I go to sleep. 

Growing a company is no BS, you will work like a dog, but it will be worth at the end. I first hand experienced people screwing me and learned to deal with people like that. If you have ANY questions at all. please reach out to me. I will answer anything that you have to ask, I will let you know how I overcame problems you are facing.. I will lead in the right direction, I will make sure that you don't make the same mistakes I did throughout my process that will hold you back. Please connect with me, I am always hear for anyone. 

This is what I've been trying to say. Your goals and perspective and mine are geared towards highest possible success, whereas most of the people on this site just want to flip a few properties here and there, or get cash flow units to achieve a more financially stable life. Neither one of these choices are "better" or "worse" than the other. The bottom line is that if you want to get WELATHY and RICH while still somewhat YOUNG, you gotta put your safety on the line and tack on a HUGE amount of risk. Staying in college tells me that this person isn't willing to risk 99%-100%. Its one of those things that people consider a "safe bet", but we all know that can't be true since almost everyone thinks that way. And you know what the saying is - if everyone is doing it, there's no more money to he made there.

Just LOL @ competing with millions of other college graduates all looking for the same jobs in 2017, when people are on youtube literally lighting their law and business degrees from HARVARD on fire. College is most definitely a scam and its the most effective one because they brainwash you into thinking youre a loser if you dont go. Most parents themselves were brainwashed too. 

Now how many successful real estate investors look back and say "man, real estate investing was dumb, and if it were a piece of paper, i would light it on fire".  That's right, zero.

List of super successful people who didnt have a college degree

Mark Zuckerberg

Bill Gates

Steve Jobs

Michael Dell

my granddad (no high school)

The richest man in China (no middle school i believe)

this one dude i know who everyone said was dumb, but he has 2 successful stores selling used appliances and just bought his wife a new benz suv at the age of 26. hes got more money than any college grad i personally know.

And millions more

One of the biggest things i've learned in life is that having anti-college beliefs is one of the TOP indicators for financial success, and being pro-college is a TOP indicator for financial mediocrity or worse in the future. Yes, I know there are doctors and graduates like my uncle who successfully do solid real estate deals in his free time acquiring cash flow units and do quite well, but guess what? Hes old. I dont care about being wealthy by the time Im old. I care about being wealthy while Im still relatively young.

Just something to consider Quang

 Thanks for the thought Jason. I do actually believe college may not be for some people, and that college can be a scam as well. But i was raised in a society and family where college is a must if you want to succeed. Now dont get me wrong, I dont absolutely believe that, but what I do believe is that college can be a back up plan for anything. If real estate is a complete failure for me, I can always fall back on the degree ive made. But i doubt real estate is a failure for most who put their time and effort into it. 

With that being said, Ill stick in college but continue to work on my first deal. My goal is to have at least one or two deals before i graduate college. Just to touch the waters. After college though is when I will begin full time investing if all goes well. Maybe ill have a job on the side. I cant predict the future, but I can always try to make the future something.

Post: Investing In College

Quang TranPosted
  • Sacramento, CA
  • Posts 40
  • Votes 9

@Carl Pickens Are you saying to use my student loans for investing in properties?

Post: Investing In College

Quang TranPosted
  • Sacramento, CA
  • Posts 40
  • Votes 9

@Jonathan R. Ive gotten a credit card not too long ago to start building up credit. (Honestly was not expecting to use the credit for real estate until i read the book on rental property investing) What I really need to learn is everything that happens before during and after a deal. Or at least thats what I really want to learn.

Post: Looking for More Connections Sacramento, California

Quang TranPosted
  • Sacramento, CA
  • Posts 40
  • Votes 9

@Derek Jones So is it impossible to get a loan without a steady job?

Post: Investing In College

Quang TranPosted
  • Sacramento, CA
  • Posts 40
  • Votes 9

@Jason ChenThanks for the comment and advice. But i think college is a must for me. Definitely something to fall back on in case of real estate failure. Dont get me wrong, the thought of not having to go to college anymore excites me when i think of the things i could potentially do in real estate, but Im still a child. I have no idea how to support myself financially.

@Jonathan R. Are you using real estate to pay off your debt? What i dont really understand is in real estate, you often purchase a property with a loan the size of more than you'd probably have sitting in your bank (especially if youre starting from the ground up). So how do you end up paying a loan after purchasing a property? I know in a rental, you have the tenant pay off the loan slowly but surely, but what about when wholesaling?

Post: Investing In College

Quang TranPosted
  • Sacramento, CA
  • Posts 40
  • Votes 9

@Antonio Coleman Thanks for your comment on this thread, I appreciate it! Why would an investor want to sell someone his or her property that he or she can profit off of?

@Jonathan 

@Jonathan Makovsky Thank you for the comment! Any pointers, tips or tricks to how I can start learning new things rather than just reading book after book (although I dont mind reading and will continue to read). Im looking for a mentor at the moment but seem to be having troubles.

Post: Investing In College

Quang TranPosted
  • Sacramento, CA
  • Posts 40
  • Votes 9

Hello all at BP! 

Currently I am nineteen years old unemployed and attending college for the second year. I do have money saved up but all that is going to rent to keep a roof above my head. I am so eager to invest, but I worry that if I started investing now (keep in mind I have little knowledge in real estate and have no money to put down) I will run into problems and I don't think I can afford that. 

My first step to answering my question "how can I make a deal and succeed without having to worry about financial issues?" is to get Brandon Turner's book on investing with low to no money down. But with my financial burdens right now, would it be a bad idea to invest anytime soon? Should I wait until i've a stable job and income?

I am definitely going to continue to to branch my knowledge on investing in real estate, but should i be a little more patient before i start investing?

If anyone could point me out to someone or something who could help, feel free to message me, I would appreciate all the help i could get! 

Thank you,

Quang Tran

Post: Looking for More Connections Sacramento, California

Quang TranPosted
  • Sacramento, CA
  • Posts 40
  • Votes 9
@Gordon Cuffe I wish I could say I knew what all those things meant and how to do all those things butbim clueless.