All Forum Posts by: Robert Walter

Doing a cross-check on that gives you more room to relatively negotiate. Although 6% doesn’t come off easy if they are buyers ready, and if not that’s heck of a ball. And that’s when cross-checking comes in. You can get more insights from other brokers that way you have more open spaces and still hold on to the power.
Goodluck!!!

1 Vote

Quote from @Don Konipol:

What works -

1. Investing in well built properties that are able to generate positive cash flow with current rental rates

2. Becoming knowledgeable about a sector or sectors or geographical area (s) and limiting your investment to those sectors or areas

3. Developing a track record of successful investments and leveraging your track record by syndications or creating an investment fund

4. Judicious use of leverage (debt) when the property will still cash flow positive after debt service; when there’s enough equity left in the property to refinance if advantageous, and when sufficient reserves are held to cover vacancies, recessions, and unexpected repairs

5. Understanding that SPECULATIVE investments should be only a PORTION of your total portfolio, and should only be money you can afford to lose.

And what DOESN’T work

1. Investing in sectors you know nothing about - even if you think your “partner” has expertise

2. Paying $40,000 for “mentorship’s” which teach you nothing about real estate principles, real estate finance, or real estate law

3. Having no experience, capital or expertise and thinking your going to be successful setting up a “wholesaling” business

4. Chasing the latest “hot” real estate market, trend or location to invest in

5. Investing 100% of your liquid assets as a down payment and having no reserves to carry you through the rough patches.

6. Expecting other people to solve your problems

7. Expecting inexpensive (cheap) property management to be competent

8. Expecting brokers to inform you of the best purchase opportunities when you have no proof of funds, or pre qualification for funding

9. Expecting to get accurate answers to complex legal questions on a public forum so you can safe the $275 consulting fee of experienced legal counsel

10. Expecting real estate prices to continually rise with no periods of decline.

Now that’s what am talking bout right here Don……

You’ve said it all, and as far as I can agree these steps alone impacted my Journey triumphantly 30 years ago… Thanks 🙏

2 Votes

Quote from @Scott Eadie:

Good Morning,

I have reached out to a wonderful investors real estate agent and have read the book " The Millionaire Real Estate Investor " which has given me a good introduction including Mindset, Charts, an Understanding of Generalized Topics and so much more. However, this book talks about getting a margin of $20,000 to $30,000 off a property off rip and from what my understanding is, the current housing market wont allow for that I will lose that deal most times. Furthermore, I don't know in what direction I should go for decent liquidity as well as profit margin. For instance, an apartment complex would provide good cashflow however, it would be quite difficult to sell in a timely manner if I needed the money. Single family would be easy to sell providing its kept in good living condition but isn't nearly as lucrative as an apartment complex. Then I begin to think multifamily homes and I am unsure of how well they sell either. Do they sell decently well enough to where if I needed the money for healthcare reasons it wouldn't be a long time of me trying to sell it? Let me know what category you think that I should take a look at! I thank you for your time!

Thanks

-Scott Eadie

Hello 👋 Scott Eadie…….

It’s great to have you here on BP…….

And to everyone whose shared there bits and for not judging nor undermining his abilities to survive the ocean waves of RE….

Good thing is everyone believes you can achieve it if you can dream it…

But do ask yourself, are you ready, are you willing to take up the journey?

You’ve mentioned that your medical needs is as crucial as snapping your fingers and getting capitals to sort it out. So ask yourself do you want to start from the scratch learn the fundamentals and basics with a 10-15% cap or would you rather go all in and don’t forget your medical needs in between your decision making. Am sure with the books you’ve read and the information you’ve received you’d already know RE isn’t for the faint heart.

So making the final decisions all comes down to you Scott.
Lastly with that said amount I’d say you put most into liquidity for your health reasons and start out with something you can be able to afford when your health needs best part of so you don’t start worrying much on what to do further causing you higher health risks because RE isn’t a get rich quick…..

That been said, the ball still in your court….!!!
And to me it favors you……….

0 Votes

Charlotte, North Carolina

@Christina Baliva

Columbus, Bay Area

Sacramento

Indianapolis

Eastside Texas

Do your research more on those, got a few more to go but wouldn’t want to bore you out DM is always open for further discussions.

Thank me later. cheers 🥂
Robert Walter

1 Vote

Quote from @V.G Jason:

Quote from @James Hamling:

Quote from @Robert Walter:

....The idea of turning Texas to CA or NJ and NY I don’t see that happening.......

Let me add a counter-point to ponder.
AND, please all know I PREFACE this with: I LOVE TX, the ethos's of TX, so much of TX INCLUDING the people of TX I have ran into there and the culture, really REALLY like/love so much about TX.

Texas and Texan's have a CA/NJ/NY SERIOUS issue at hand, and coming to bear, that it's a bit of a wild-card as to how it will go. And with that TX "could" become a whole lot more CA/NJ/NY.
In a word: POPULATION.

TX has grown at a rate COMPLETELY off the chart's.
That kind of growth brings serious issues with it. CA/NY issues. The infrastructure to support such massive populations AND such massive populations density, is no minor nor easy chore.

How does a land, founded on individuality, act in a collective? Because fact is, that kind of MASSIVE population and population density, that's what made CA/NY the way they are today.

How TX consolidates this growth, how TX stabilizes, IF it stabilizes this new population basis, is the big question. CA went through this, and became "CA". NY/NJ, well that's what made it what it is today.

Even FL which so many are holding as a "Gold-Star" example of conservative large populous region, is far FAR more "socialist" in it's operations than a TN, and fact is it HAS TO be because, population and population density.

Roads cost $, waste water treatment cost's $, drinking water, parks, sidewalks, street lights/signs, on and on the list is VERY long of the services NEEDED to support population and, at BIG population, those expenses get BIG.

People ran to TX from an impression of what it was. What Tx WILL-BE, we will have to see how it tackles these issues going forward. Does it become more CA/NY which is SUPER easy to do because it has so much more CA/NY influence/voices in it now who, when asked how to deal with these issues, will regurgitate what they know, CA/NY "solutions".

Will TX stay TX, demand CA/NY thought's die at the state line and forge a NEW solution path forward? A TX path forward? IDk.......

Texas will be the strongest of the strong. Austin, San Antonio, Dallas, Texas, Houston and more!

Word buddy!!!

1 Vote

Quote from @Aaron Gordy:

Quote from @Robert Walter:

@Carlos Ptriawan Thanks for sharing and if I might address this then, Just so you’d know companies people and small businesses tends to follow trends and that’s significantly how they keep up with demands…. Firsthand Texas has emerge as a prime destination over the years for companies looking to relocate, thanks to its attractive tax police’s, affordable living and working costs, also we should not forget the growing tech pool. So it’s safe to say there’s a cow and now everyone else wants to milk it. The idea of turning Texas to CA or NJ and NY I don’t see that happening because Texas on its own has every bit of those in it waiting to be tapped into. The state’s diverse economy, driven by diverse, high-end paying industries is gaining ground, and also it offers a fertile ground for businesses, communities, individuals and companies to thrive and grow.

Texas economy is super diverse and its very welcoming for businesses with many tax benefits and ease of doing business. There are multiple industries that drive the state's economy such as Tech, Oil and Gas, Aerospace, Medical and Biomedical, Agriculture, Military, Manufacturing, etc. The days of labeling Texas as a one industry economy went out during the 1970-1980's painful economic oil industry collapse. The diversification has allowed Texans to not only survive but thrive. We need folks to come here to fill the jobs from this economic job creating juggernaut. But to be very real, we are a victim of our own success and the immigrant crisis on the southern border is an example.

I couldn’t agree more, and at the pace things are moving right now there’s a lot coming up from every corner every sectors too….

Right on point!!!

0 Votes

Have done a 1-8 condominium here in SoCal, self managed and different properties across many states. Usually before going out of state I tend to tell newbies to figure out how to take on their states by the balls first once that is done I can recommend other places because why not home is the footprint in RE…. So going across state you are market ready….
cheers 🥂

0 Votes

Both are investments the questions is which one would you rather take on…. It all comes to experience these ain’t no handout the more experience you get in both investments the better you become so choose your kill….

0 Votes

2 Votes

All Forum Posts by: Robert Walter

Robert Walter has started 0 posts and replied 9 times.

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