All Forum Posts by: Scotland Ray Smith

Aloha BP community,

I'm interested  in investing in MFH and wanted to ask you folks a kind of vague question to gain some insight on this topic. This may have been discussed in another forum post and or podcast so I apologize in advance.

My question to (seasoned or fairly new) investors is, what is your criterion for what you consider an ideal investment and at what point do you decide that it isn't worth the time and effort?

I understand that there are many variables that come into play and dependent on the specific property at hand and a one size fits all approach isn't what I'm getting at. I'd just like hear other peoples thought process and the various strategies being used by other REI.

-SIDENOTE- If anyone could share a link to discussions or information like this it'd be greatly appreciated.

Mahalo,

Scotland Ray Smith

Aloha BP community , I'm interested in investing in commercial real estate and wanted to ask a kind of vague question. I should add that this may have been discussed before in other posts and or podcasts so

@Marcus Auerbach Thank you for your insight! I completely agree with you. Thinking back to some of the guests featured on the podcast, I do see that many of them did in fact have to work with what they had. I've actually figured out my strategy, I'm just working on planning and mapping everything out.

@Grant Rothenburger your right, I guess because learning the systems until mastered, ultimately to become more efficient became second nature (In the manufacturing business). I guess because my intent was to separate both worlds (manufacturing & REI) I never sat down and thought about how my job now could impact my REI future.

Aloha @Grant Rothenburger 

I totally agree,  I do remember a few of them saying that they learned by trial and error or learned the hard way.

Well primarily, I am fairly experienced in operating heavy equipment but found myself in the manufacturing business thereafter.

Aloha @Ben Wilkins Thanks for chiming in! I myself happen to be on the other side of the spectrum In which I operate what you engineer, not a bad day job but not necessarily my favorite place in the world.

I'm happy to hear you were able to team up and push through that first deal, ever more so that it proved to be a good investment! Best of luck on your quad deal, I'm positive it will snowball into much more profitable investments.

Yes, it may be redundant but I believe that that's one of the most important steps to take. I'm also starting to put myself out there and make more connections with other REI in my area. My work schedule is proving to be a bit of a hassle in that I can't make the REI meet up due to conflicting schedules. (Not to make excuses) or sound as if I'm doing so, just that I won't be able to attend the most recent ones.

Again mahalo for your kind words

Scotland Ray Smith

Thank You @Matthew Baltzell for your kind words. I do tend to be kind of hard on myself sometimes but I'm slowly working towards changing that.

I second that! I find that a lot of the times I need to create opportunities rather than wait for the universe to decide its my "lucky day".

Mahalo  Nui,

Scotland Ray Smith

Aloha BP community,

If you couldn't tell by my lengthy nonexistent list of deals listed on my profile I am a newbie trying to make my way into REI. All jokes aside, I am an avid podcast listener and I've been reading the forums quite often and I'm beginning to notice something. This realization becomes more apparent when I'm listening to the podcasts specifically. Like many of my fellow newbie investors I scoured the internet trying to find whatever information I could on REI and I just so happened to see a link to a BP podcast on YouTube. After watching that episode, I was hooked and subscribed so I could be notified of any new videos being uploaded. On my spare time I would sift through the uploads and time after time I watched and heard new information..

As I sat and listened to all of these savvy investors I realized that many of them had the odds in their favor. Now this may not have been the case for all of them but I felt like each of them had something going for them or something that I never had; an edge. For example they may have been an expert in marketing or negotiating, a top performer, an accountant, a broker, a professor, very analytical (which always came natural), expert flippers, I could go on and on.. To be honest this kinda messed with my psyche a bit (admittedly). Coming into this industry completely green, thinking "how the heck am I suppose to do that?" or thinking "pshh.. 400 deals in 5 years.. relax Scot lets not get ahead of yourself here". Am I wrong for having these thoughts? Is there anyone who can relate?

Now I'm not saying that I'm not capable of accomplishing some of these things, I'm just saying that going into REI with any kind of skill-set pertinent is definitely a plus! I should add that being able to kind of get into the minds of these investors had been extremely eye opening and very inspiring. I find myself setting bigger goals and creating better habits every day, trying to educate myself without overwhelming myself at the same time. Doubling back I can't omit the fact that every single one of the investors featured worked their buts off to get to where they are now and I need to do the same for the sake of my "why"! Hopefully along the journey I can develop my own so called edge, until then ALOHA!

-Scotland Ray Smith

Aloha @Andrew Cannon Welcome to BP! I myself am new to the bigger pockets community and this is definitely a great place for new investors. So much FREE information! Hope to see you at one of the REI meet ups, if not I'm always up for connecting and networking with likeminded investors.

Best of luck! Scotland Ray Smith

Aloha Duc! Right now I'm looking to do some buy and hold investing mainly in small multifamily units then move on to bigger projects in the future. Because I'm still fairly new I plan on investing in multifamily units after my first few deals so I can get a feel for how everything works. To start I was looking into SFs and or Condos, typically in the Metro Area.