All Forum Posts by: Rich Vogel

Hi Steven,

The first thing I did ( and didn't realize I was doing it then) was find a mentor. Luckily my Uncle mentioned real estate at a Christmas party of ours and I was hooked. I bought my first property with him at 16 had my mom sign the mortgage docs to get started. ( I also borrowed all the money from my mom. I didn't make any money on that deal for years but it was the best thing that ever happen to me. So I guess the main purpose is be creative!

Hey Nick,

I would suggest going to real estate meetings and surround yourself with people that believe in real estate and understand where you are coming from.  A lot of people that bad mouthed real estate to me in the beginning came around once they saw me be successful in it and some people haven't come around and probably will never. Use it as motivation and not a negative.

HI James,

The first thing is real estate can definitely be for you.  One of the biggest assets (and mine is the same thing) is my why. For my kids and in your case your son.  That is what drives me to work hard everyday.  I would find a Real Estate group by you whether it is through meetup(that is were I found my group).  This will help you network with people that are doing real estate and they can let you know what are realistic cash flow expectations.  I don't know what your real estate market is like but I wouldn't go out there and buy a ton of property at once.  Take it slow and get your processes in place.  Good Luck and don't be afraid to reach out.

Thanks

Rich

I agree with everyone popcorn ceilings are old.  If I was doing a flip I would go smooth ceilings it just looks cleaner and sleek .

Hi Pavlos,

I believe the first thing you need to do is make a decision on your partner.  I was in the same situation and I sat down with my partner and casually asked him what his goals are and what his expectations are with real estate in the next 5 years.  This gave me a good idea were he was after I measured his level of passion.  I then showed him what my business plan was and if he wants in I need him 100% in.  If not no hard feelings I am just trying to figure out were I am going and to make a plan. So I think you need to decide what your ultimate goal is.  I personally would try and get as many buy and holds as I could and keep on building my portfolio but that is just me. 

Good Luck and keep us posted.

Hi Scott,

I have a really good relationship with my agent and I pick her brain on every house I buy.  My first question is always what do you think is the least amount of earnest money I can put down.  Cause this is real estate and you don't always no everything I like to always shrink down my risk.  For me some other factors that can influence my amount is how much I want the house and how much it costs.

Hey great topic.

Mine is SHOCK THE WORLD...I come from a middle class family that preaches work the 9-5 with benefits. Live below your means and sace for retirement. So my family thought i was crazy. So i always told them i was going to shock them.and then i it turned to i am going to shock the world. 

I have had banks counter my offer and I have also had them just say no.  Its a crap shoot.  I would definitely make an offer especially if the house has been on the market for awhile and if they decline it put a new offer in alittle higher. 

Hi David,

Welcome to BP!!! This site is a great resource to learn anything about real estate.  I currently live in New Jersey right now but do all my investing in PA.  Give me a shout if you have any questions. 

Thanks

Rich

Hi Mark i do work a full time job usually leave my house at 730am and work in my door at around 6pm. I also have a four year old and and a two year old but my wife is very supportive. I do alot of work when the kids go to sleep and i wake up early on the weekend while everyone is sleeping to do paperwork or work on my plans and goals. I am closing on two more properties this month which will put me at 10. I am thinking at around 15 i will quit my day job.