All Forum Posts by: Raheem Jamaal

Hey, BP Family!

Quick questions for people that are doing 100+ deals a year, but of course anybody can chime in. I'm just curious about the people doing volume in single family rentals and people that are doing large multifamily especially:

What is your typical net cash in pocket cash flow on your average single family rental?

&

What is your typical net cash in pocket cash flow on your average large multifamily unit?

Thanks guys!

From what I understand, yes, there is a lot that goes into virtual wholesaling, but somehow people manage to do it in other markets. I think that's the point of going virtual because you can wholesale in other markets, but I completely understand your concerns with it. I may just go the traditional route of acquiring SFRs and house hack.

What's up, BP Family! I know this is not a new concept, but it is fairly new to the overall 30,000 foot view of wholesaling. What I want to know from the people that are experienced in running a virtual wholesaling business, is it actually doable for someone just starting out? Is it more cost effective and worth the time and effort to structure a business like this as opposed to just trying to wholesale in your local market? I know a lot of you will probably ask "Well, what are your goals? Well, based on your answers, my goals will look like this. My Short Term Goal (pertaining to virtual wholesaling based on you guys opinion if it's doable for someone starting out): 1. Do 5 virtual wholesale deals a month that profit me at least 50,000 dollars a month after overhead. 2. Put that money into a house hack. 3. Continue scaling the wholesaling business while working a full time job. My Long Term Goal (pertaining to virtual wholesaling based on you guys opinion if it's doable for someone starting out): Now that the virtual wholesaling business has scaled and I have a solid team; now I want to put that money into income properties. 1. 10 virtual wholesale deals a month that profit me at least 100,000 dollars a month after overhead 2. Roll that money into a SFR every two months so 6 SFRs a year divided into 3 different states and 1 local market each state so for example 2 SFRs in Orlando, Florida, 2 SFRs in Clayton, Georgia, and 2 SFRs in Somewhere, Michigan...you get the point... (possibly leveraging conventional loans or private money as well) 3. Rinse, Repeat until I feel like I'm ready to scale that business and do commercial multifamily. (don't know too much about commercial so those goals are blurry) All in all the big end of the road goal is to have 250,000 dollars a month in net rental income long after I've retired from my 9 to 5. (maybe late 30s-early 40s) OR... If you guys think that newbies should stay away from trying to virtual wholesale, I can do it the somewhat traditional way of building a long time rental portfolio. Maybe house hacking a few times, network with people and find private lenders to do other rental deals with, and just do buy and hold until I'm where I want to be. Anyway guys, I'd like to hear what you guys think of the whole concept of virtual wholesaling, can it be done by newbie investors or not? Should newbies stay away from it? Any feedback or advice helps guys. I really want to start my journey into real estate investing. I'm just not sure where to sow my seeds. Thanks BP Family!

begins with a single step... Hi, BP Family! It's Raheem back again with another post.

I'm writing this post today because I feel really down on my luck and I wanted to ask the BP Family for guidance and advice and maybe my story and everybody else's advice and guidance will help someone else in a similar situation as I that doesn't want to be as transparent with what they're currently going through.

If you haven't read my other post. I am 24 years old (I'll be 25 in August). I live at home with my mom. I have no credit. I have no degree. I'm unemployed, and I have no car. It's something that really gets me down and I just feel like a complete burden on my family. I'm a fairly optimistic person luckily so I do bounce back from it sometimes when I'm learning about real estate investing and thinking about the potential I do have when it comes to my financial destiny, but sometimes I feel like there is no way out of this hole that I'm in.

So I come to you guys for guidance.

The reason why I want to become a real estate investor is because I want to be able to travel the world whenever, wherever, and however I want and start a family one day so I can pass down what I've learned to my posterity so they can continue my legacy once I'm long gone. That is my why.

Everyday I try to tell myself it is achievable, but the process is unbearably slow considering I have no means to network (besides BP) because the lack of transportation and the first thing anybody tells you about real estate investing is that it is a game of people.

So I'm going to ask these questions not just for myself, but for all the aspiring investors just like me that want to change their lives.

1. What is the best niche and strategy for someone that is just beginning the real estate investors journey to rapidly start building wealth with no money and no credit or low credit score?
2. Once you've identified the niche and strategy, how would you go about finding credit partners, money partners, and the deals themselves without any sort of skin in the game or transportation to network with people?
3. Once you have a solid team established, how would you structure these partnerships?
4. How would you setup systems to automate finding great markets and getting leads?

I think that covers a lot of questions most some what knowledgable inexperienced investors would want to know; especially for the people in a similar situation as mine.

Thanks again BP Family!

Hope to hear from you smart people soon!

Raheem

What's up, BP Family!

I have a question for all the experts out there.

If you were to start from scratch entering into REI and your goal was to have enough money or passive income to travel comfortably all over the world whenever you wanted, what would the process be from A to Z?

Thanks, BP Family!

@Bryan O. Sorry if the title sounds click-batey. You have all the right to be skeptical, but I'm geniunely trying to help. This has nothing to do with being a guru. It's more of a survey. 

@Sharad M. Well, I'd like to get opinions individual for this particular project with other peoples influence. For this little experiment to work, it has to be one on one. (:

What's goin on, BP Family, it's Raheem back again from my controversial post you can read here. 

So right now I'm currently working on a project and I would like to involve the entire BP Family in this project. Let me ask you guys a question. How many of you have trouble finding deals? Whether it's because you can't find an investor-friendly realtor or the MLS and craigslist just isn't cutting it. I know I do. Do you think that it could make your life easier if you could find good deals without sifting through tons trash properties? Are tired of competing with tons of other investors for deals? This project that I'm currently doing could potentially solve this problem!

So I really need you guy's help on this. All I ask is that I have a bit of your time on a call with the people that are interested. What I want to do is ask you guys a few questions and get your opinion. That's it! If things go well on the calls, I'll follow up with you guys with another call to really get down to the nitty gritty. I'm super excited to see what kind of response I get from this post and how many people are willing to be guinea pigs for my little experiment! If you are interested though leave a comment and PM me and I will get back to you immediately!

SERIOUS INQUIRIES ONLY!

I thank all of you for the words of encouragement and thank you @Account Closed for making a guest appearance on my post and enlightening people with your own knowledge and experience. I just know it sparked something in me when I watched your passive income video and it will continue to spark something in many other people for years to come. For anybody that lacks faith in my abilities here, I understand where you're coming from. For some this would be like doing the impossible. I have a lot to learn and maybe I am a bit naive with my numbers, but WHO CARES? This will all be a learning experience for me and so what if I don't hit it out of the park. I'm going to give it my all and that's what I'm going to do regardless.

Cheers once again!

@Account Closed I appreciate your brutal honesty, my friend. Haha!

Cheers! :D