All Forum Posts by: Sebastian Bennett

Adrian where's the property located? Doesn't sound like you can complete a BRRRR, perhaps get some money out but not all through a refinance.

@Lucas Thomas Ah so it comes out now. After singing D class real estate's praises repeatedly and refusing to answer how you cover the expenses now you say you've made clients and friends wealthy off D class real estate and you are looking to coach up others now....why not just be honest about your motives from the start. 

@Alan Asriants Since Temple hired the former Drexel president who was known for being very focused on developing real estate relationships around campus doesn't that provide greater optimism? I assume he will try to implement the same strategy?

@Lucas Thomas Lol Jay is prob the foremost expert on these boards with credentials that can actually be corroborated. You on the other hand must've posted 10+ times on this forum topic alone and haven't been able to answer how you manage to keep fixed costs of owning real estate lower in your properties. So why don't you share with us how you spend less? We've been waiting for an answer and you haven't been able to supply a coherent explanation. Also as Jay noted (good recon!) you play the card of someone with no money and had to scratch and claw his way owning D properties but are investing significant amounts of cash into your projects. IN fact millions of dollars as downpayments.  Far more cash than almost everyone on these forums so something is off

I almost spent money on a coaching program and then got turned onto BP. If you take the time to go through these forums you will find a ton of information to build a knowledge foundation. I completely shifted my investment strategy since immersing myself in these forums. Its actually a complete shift from what I thought I wanted  to do real estate wise (which happened to align with the coaching program I considered).  From there align with great service providers like brokers,  insurance agents, attorneys, accountants and they will serve as your trusted advisors. 

I would imagine Alan's assumptions are statistically the norm. Most clinical psychologists are not living in MHP's. It seems those who are in favor of these lower cost property types are going to argue their positions no matter what just as those who are opposed to it whether it be using the anomaly tenant as an example or refusing to acknowledge that certain property expenses cost the same whether it's a **** box or more expensive property. Those who appear to be successful haven't been able to explain away how they actually cope with costs. Reminds me of that guy Bob in Cleveland who posted daily about how he was making money hand over fist settling on new properties almost daily from some vacation compound and turned out to be a fake 

Ok Jonathan and Ginis, thank you for making us aware of your coaching progra,

Hi Michael, just a hypothetical. Lets say I buy a property and I intend on renovating it and then I choose to flip the home. Can I take a rental loss during the period I own the home or does the intent matter?

Can I take rental loss on a property during the year of ownership if my intent is to flip the property?  What if the intent was to flip but it then does not sell and becomes a rental?

@Joe S. I will agree with you, getting multiple perspectives leads to better forums. More thoughts are shared which is such good free knowledge. I will admit I read rich dad poor dad, was about ready to sign up for a coaching program that guaranteed me a section 8 house and was about ready to dive in until I began reading these forums. Now I made a modest passive investment really intended to give me a look under the hood of another investors operations and I am now saving up for another year to buy an investment property I hope to own for a very long time.