All Forum Posts by: Samuel McCart

@Salvatore Lentini your response essentially answers the question that a great deal is most important. I’ve also thought about wholesaling until I have enough cash for a down payment as well but I may end up doing that along with learning about the options you mentioned.

@Michael Dumler I am totally open to that but the Mrs. Is not unfortunately.

@Greg Scott what about a MF? Same concept?

Hello all,

I’ve been doing some research into creative financing and I have a couple questions.

My story is my wife and I are saving up for our first house but I’m also wanting to get my first rental property so I can start generating cash flow to fund more rentals and build a solid portfolio.

For my first rental, I’m open to bringing on an investor (and probably need to for my first one) but I’m not sure what’s going to be the best course of action. Is it better to bring some cash to a deal or is a great deal the most important item when approaching investors for funding? Essentially I don’t want to waste an investors time.

The other question is do I just buy the primary residence with my wife and then use the equity from that to fund my first rental? Obviously this would take more time and this option isn’t ideal as l for me time wise.

Hello all,

I will attend my first REI meetup in Sarasota, FL, tomorrow night. However, I wonder if any investors in the area don't go to the meetups but would still like to grab a coffee/beer and chat about how we can help each other with their goals.

I appreciate all your feedback and advice/tips!

I am well aware that REI is not a get rich quick or that it is a "work 2 hours a day" type of business. The main goal of my post was to seek out investors in my area to network with through this wonderful community. @Scott Wolf that is a fantastic idea of the meetup type app and utilize that. 

The nice part is that I'm definitely not going to be quitting my job until I get to a place where I feel comfortable doing so and jumping into REI full time. I don't like my job, however, I can still perform it enough to pay the bills and use that extra cash to start investing.

@Nick C. I definitely have not quit my job. I want to but I'm not going to handicap myself like that. 

@Joe Villeneuve I've mainly been reading and listening to the BP Podcast. The paralysis I am referring to is the "what if" scenario. 

Hello fellow BP members. I currently live in Sarasota, FL area and have really had enough. 

I've been working a J.O.B. for long enough. I read RDPD a couple years ago and it definitely piqued my interest into REI. I've tried starting a few times but keep getting held up by either paralysis by analysis or that fear of failure. I've decided that it's time to stop letting those two roadblocks keep me from the financial freedom I want for my wife's and my future and I have simply had enough of working a J.O.B.

I live in Sarasota, FL and am wanting to start by either wholesaling or flipping (I don't want to BRRRR yet simply because I want to get at least 15 deals under my belt before I even look at that). I want to connect with other investors in the area (Bradenton, Sarasota, Lakewood Ranch, Venice, North Port, etc.) and start learning and growing. So if you are in the area and do wholesaling or flips, I want to connect with you and see how I can best help YOU (and in turn help myself). I'm ready to learn and grow!

@Jonathan Greene - I would be interested in attending this. I recently moved to Sarasota and am highly motivated to start my RE portfolio!

I agree with Jonathan. It's tough for buyers to want to build a relationship with you if you haven't shown you can benefit their business.