All Forum Posts by: Account Closed

Jonathan ,

As Josh states a branding that people remember and associate with you is the way to go.

I see in your intro that you had a business with your brother. In your profile you indicated that you are running your RE investment business you are running it with your girlfriend. Keeping it in the family seems to be the theme. That and you are a team player.

Good luck and a late:

:welcome: to BP.

Eric,

3nd generation? That is impressive.

One guy I know (2nd generation investors) butted heads with his dad and went off to do his own things. After hitting some landmines he realized that his father was someone he could learn a few things from.

Another investors who is also 2nd generation had a different experience. He smoothly worked with his dad and has done very well.

Care to share more about what it is like to be 3nd generation?

Thanks in advance.

Well done.

The above correction does imply a local issue or confusion between the site and your specific computer. Likely you should restart when ever you see speed issues as it will clear out the cache and other buffers plus clean up the virtual memory on your machine.

Ryan,

Why dress it up as a courier fee?

You can pay a researcher hourly or pay them a salary.

No judge cares what you call something. They look at what is going on and not the term attached.

Are you paying for the research only if you successfully complete a deal (purchase, etc)? If the fee contingent on the outcome rather than paying for services already delivered even if you never do a deal?

Having a system that lets people input the info is great. It also lets a criminal investigator identify a pattern and who engaged in the activities plus the sums involved.

You want to make fast cash, take no risk with your capital and otherwise not waste time.

Sounds like most new investors who will move on to something else when they realize that RE does not work that way. Even the ones that do a few quick deals tend to blow up later as they rush into bad deals at some point along the way.

If you want fast cash, get a job.

If you want to be wealthy realize that very few people become wealthy rushing forward. Most make significant investments in time and energy even if that means years of education before creating a start up that takes off.

Crash and burn is normal for fast cash ideas. It tend to lead to better deals for investors who are not so quick as we get to pick over the charred remains.

Good luck.

Listen to Mike.

The seller is being a pain and I have seen nothing that implies this is a deal worth fighting for.

If the deal is really good (using Mike's criteria) then a $5K bill might not be a deal breaker. If the deal is marginal or worse a $5K credit will never be enough.

I would a notice about the disclosure issues and otherwise make it easy for any future buyer to know there is a defect. If the property is listed the listing agent should care about disclosure once they have been formally notified that there is a pre-existing defect that has been glossed over. Beyond that I would step back and stop all legal costs until I know the deal is worth fighting for.

If someone else wants a bad deal that is one less investor you will need to compete with once they take this one down.

Paul,

A few comments and I have not read all of the replies to the post. I am focusing more on your story.

1. A friend's wife is from Australia. She happens to be featured in a text book for child abuse in Australia. A case study. Rough stuff.

Stuff happens but it only your starting point. You do have some control over the future. Some starting points are really difficult but they do not have to be the end point.

2. She lives in London now. She returned to university after working for a number of years. As she ended up with a degree and then worked hard at a job with an international firm she one day met someone who worked in London but was visiting the office in Sydney.

3. Later she obtained a paid transfer to the UK. The company valued her skills and wanted to cover the costs of her relocation. It also let her maintain her relationship that later turned into a marriage.

She is not perfect and not everything from the past has been sorted. It is a work in progress and will likely be one for life. Granted most people are a work in progress. The only exceptions are the folks who give up before they actually die. They are frozen in time.

As to your move to the US. If you are serious about this I would not worry about the money. I would focus on your education. The US does not really wanted people with few skills and low educational standards. If you train up in a specialized skill that is in demand in the US you have many more options than just the annual lottery.

My limited exposure to Australia is the place is very much like the US. As the US is a big place some parts are more like Australia than others (west coast vs. east coast). Rather than think your world will be better when you get to the US make your world better and then you can go to the US at any time. If having money makes it easy consider that as an option in addition to the educational aspects.

You can spend a lot of time in the US even if you do not legally live there full time.

Good luck.

Note that the best way to change your future is to change the people you hang with. Focus on people who can help you advance and listen to what they sale. Watch out for the folks who offer simple solutions and other cons. Some of the speakers you mentioned will suggest building a team of positive minded folks who are getting on with their life. That is one key. The other is for you to make progress and not slip back. The nice thing about a degree is they can not take it back once you have it. Getting a degree also teaches you how to focus on a goal and stay on track until you get the job done.

Got it? Questions? Get in touch or post more. Folks will help if you are doing your bit. Rough days are expected.

That which does not kill you makes you stronger. Some of the time it pays to rest a bit rather than get yourself beat up too quickly. Hang in there. The future is bright if you know how and where to look.

Legally the term does not make a lot of sense.

On a practical level investors use it to mean a property that has not gone to auction yet. It will be in foreclosure in most cases as most investors find properties after the Notice Of Default (or other legal notices) have been filed.

More or less the period after the borrower has started having problems with the payments but during the period when the loan can be re-instated.

Not the most precise definition but close enough to how most people use it.

Age is what you make of it and how you respond to others.

1. You need to be 18 or older to sign contracts. There are exceptions if the court has approved you doing so at a younger age.

2. After you reach 18 it is all about how the other people react. People who feel you are too young to have the needed experience could be correct. Hence you have to deal with their perceptions. Maybe they should not view you the way they do but that is still where you are starting from.

If you can get past assumptions you will will have improved your game than someone who is assumed to be competent just because they look older.

Remember there are groups who have issues even when they are older. There can also be language issues if the seller speaks a different language or is not a native to the US.

Trust and creditability is what matters. As you build success collect references so that you can let others speak for you. If you had a good deal and the seller was happy let them write it up and then share that view with others. Even better if you have a picture or something that shows the other person. The more like the prospect they look the more you will be taken serious.

I know one guy who focuses on doing around 100 deals a year. He focuses on what he calls Walmart neighborhoods. He dresses like the people he deals with. He shops at Walmart and otherwise fits in with the people. They take him more serious. None of them know that he is a big, successful RE investor worth millions. They know he speaks like them, he dresses like them and he has an offer that seems to deal with their problem

Oh, when talking with bankers look, speak and dress more like the banker. It puts them at ease and you need their approval

Mike,

You wrote:

What are you defining as being 33% of the US economy? Housing?

Can you show how something is 1/3 of the US economy? Definition or some other indication that shows where the lines are between the 1/3 and the other 2/3s.

You might be right. I am just trying to understand where you are drawing the lines.