All Forum Posts by: Skylar Simpson

 Hey Bruce,

So a lot of people get caught up on all the little things. They think they need websites and business cards and all this stuff before they start implementing their marketing. If you are serious about investing then you should definitely get an LLC to protect you and your assets BUT do that in conjunction with implementing all your marketing.

You have nothing to protect if you never get a deal. What other questions do you have I'll help as much as I can.

 No doubt. Well keep asking questions and making sure you do things the right way. There is a lot of bad information out there so always make sure you get the best info you can. :)

 Oh gotcha. Ya I know what you mean about the negativity when you start talking about real estate. I had close family members look me in the face and ask when I was going to get a real job even though I was making 3 or 4 times their yearly income. It's pretty silly but it's just how it is. 

As for being screwed because of tenants - That happens for sure but if that's whats going to deter you from becoming financially free then maybe Real Estate isn't for you. There is a reason things like insurance and proper deal structure exists :)

So I specialize in creative financing types of deals (Lease/Option, Sub2, Contract for Deed/Land Sale Contract etc...). There is 100% a market for Rent to Owns (R2O's). One of my R2O's had over 1000 people contact me wanting it. As far as legally it stands up just as well as any other type of normal contracted agreement. Why did you think it might not? R2O's and Contract for Deeds are some of the most profitable deals you can do -- if you set them up right.

 Good stuff man - so what's your primary goal as an investor? Buy and hold for passive income? Are you looking to sell all these properties soon?

 There are a few different ways. Many find them in their own markets. Another investor who is doing what you want to do and learning from them. Many investors have a scarcity mindset though and won't teach someone in their own market. You can also find them online in facebook groups, on biggerpockets etc... BUT be very very careful.

Many are not good and are just trying to get as much money out of you as possible. Those "Give me $5000 up front and I'll teach you for 3 months" garbage is not what you're looking for. Vet everyone - see what they post about, what their facebook page looks like. If they post about getting wasted last night, flashing cash all the time and doesn't seem very professional -- then they probably aren't and isn't what you're lookin for.

 Haha you got it bud. If you ever have more questions always feel free. Best of luck man.

 Everyone is different but I can promise if you have a good mentor (not guru) you'll learn a lot quicker and make less mistakes.

A good mentor is available to you every single day, answers your questions in a timely manner (within the same hour you ask them at minimum) because this could mean you lose a deal or not, is able to teach you how to properly use the technique of investing you are seeking and provide you with the documents necessary AND doesn't cost you an arm and a leg. They also don't have 1000 students because there is NO WAY a good mentor has the time to teach that many people properly.

If you do not have DIRECT ACCESS to your mentor but one of his/her helpers - you don't have a mentor... you have a guru.

I personally have a mentor and I can attribute a big part of my success to their teachings and guidance. I also know I'm doing it right and not just hoping I am. Keeps me out of trouble both legally and financially.

Do they help? Absolutely. Do you NEED one? No - but it sure does help.

Oh gotcha. Ya man, you do what you think will work best for you. There is no single path to success in real estate investing. I know plenty of investors who have their license and plenty that don't but they both are making millions of dollars a year. Just know what the pitfalls of having a license vs not and then choose the path that looks best for you :)

Hey Michael. So creative financing is my specialty but I have a few questions for you. The first thing you should find out is how much of that $80k does he really NEED and WHY he needs that specific amount.  

This is probably the most important question right now so we know what kind of deal structure would work in his and your best interest.

So find out that answer and I can help you with the rest if you'd like.