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All Forum Posts by: Sean Winfield

Sean Winfield has started 4 posts and replied 19 times.

Post: New Member from Cincinnati

Sean WinfieldPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 19
  • Votes 7
Originally posted by @Dave Visaya:

Hey @Sean Winfield welcome to the site! It's great to have you and feel free to jump in the community here. Check out the resources here and also share your stories through the blog section or the success stories section in the forums. See ya!

 I've jumped in head first!  Thanks Dave!

Post: New Member from Cincinnati

Sean WinfieldPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 19
  • Votes 7
Originally posted by @Maureen Hannan:
Originally posted by @Sean Winfield:

I've been through foreclosure and it was not fun at all.  I've seen first hand what the mortgage companies can do to you financially...(along with bad choices on my part)...  But I want to now educate myself and prevent others from going through the terrible times I went through.  

Hi Sean!

Welcome to the community. What a powerful thing, to have gone through a foreclosure and have that experience to bring to your investing. I wish you well. I wonder if you might consider writing some more (maybe on a blog here?) about what your foreclosure experience taught you. I'll bet that alone would be a great way to connect with others here. (And the number one tip, I've learned, is to network at every opportunity. That's the only way to learn first about deals and all the backstory behind them.)

Cheers!

Maureen

 Maureen, 

Thank you for your response!!!  That's a great idea.  Those newbie thought start going through my mind...."I'm not ready to share my story..." ... "I know they all know more than I do...how could they learn from me?"..."who wants to read my crappy sad story anyway?".  

But the more I think about it..the more it makes sense to document my journey and share with others...I learned A LOT...  I've been through all the horrible financial situations...Divorce, Foreclosure, Bankruptcy....uuugh.  

Thanks again for your response and I'll let you know when I start blogging!

Post: New Member from Cincinnati

Sean WinfieldPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 19
  • Votes 7
Originally posted by @Darrin Carey:

Welcome to BP @Sean Winfield 

I know some of the buyers at your local REIA. Bring them a great deal, and they'll buy it. Make sure you have the numbers right. Having the numbers wrong is the #1 mistake I see a new wholesaler make on their first few properties.

To your success!

 Darrin, 

It's so funny you mention that...of course being a newbie, one of the things going through my head is, "Sooooo...I find a motivated seller....I get the house under contract.....then someone...maybe someone will buy it???"  Since your post, I've read a few books that address this question as well... Seeing your reply and reading those books give me great confidence.   

I think now if I find a good deal, solve the seller's problem, make sure the numbers make sense that someone will look my way.  My only concern is doing it right.   The more I educate myself, the better I feel.  I think being active in the BP community will contribute to my success!

Thanks again.

Post: New Member from Cincinnati

Sean WinfieldPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 19
  • Votes 7
Originally posted by @Paul Timmins:

@Sean Winfield 

Welcome. Time to build the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere - DONE!!

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing. - DONE!!

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on. - GETTING THROUGH THEM!!  HAD A PODCAST MARATHON LAST WEEKEND!!

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook - STILL NEED TO CHECK THESE OUT

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need. - ABSOLUTELY...ALREADY BEEN AND ATTENDING THE SUB-GROUPS!

Consider checking out HUD homes for small multi's owner occupied gets first crack. - NOT QUITE FOLLOWING YOU ON THIS... I'M NOT SURE WHERE TO LOOK FOR THE HUD HOMES...I TOOK A QUICK LOOK ON www.hudhomestore.com...FOUND A FEW PROPERTIES IN THE AREA...ANY BETTER RESOURCES FOR HUD HOMES?

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.  - NOTED.  

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over - READ IT!!  ONE OF MY BEST READS SO FAR!!

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good luck

Paul

 Paul, great advice!!  Thanks for all this info.  My responses are above in all caps since I didn't see an easy way to color my responses!  

Thanks again!

Post: New Member from Cincinnati

Sean WinfieldPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 19
  • Votes 7
Originally posted by @Brett Synicky:

Hi @Sean Winfield 

Welcome to the best real estate website on the net!

If you haven’t already check this out:

http://www.biggerpockets.com/real-estate-investing

Happy investing!

Brett, I read through the entire guide...extremely helpful.  I think it helped me focus even more on the tasks I need to complete to get to my first deal.  I'm working through it...each day, doing something to keep my momentum going and my proverbial pedal to the metal!! 

Thanks!

Post: New Member from Cincinnati

Sean WinfieldPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 19
  • Votes 7

Elizabeth, 

Thank you for your reply as well!  Pinging the BP Community is great advice.   As a newbie, we (newbies) tend to be confused and scared...even to ask a question!  It's comforting to see that so many in the BP community are here to help others succeed.  

I hope you and your family enjoy your Thanksgiving!!

Post: New Member from Cincinnati

Sean WinfieldPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 19
  • Votes 7

Jon, 

Thank you for your reply!  I found a great book written by the BP community - "Rewind".  I've told my kids time and time again, it's so much easier to learn from others in many situations.  You can take their advice, then determine the best way to go.  I woke up this morning and read the book in a couple hours.  What great advice.  

So now, I'm going to take a look at the podcasts as you suggested.   As I read/listen, I get ideas and since I've been taking action towards my first deal, more things are making sense to me as I apply the knowledge.   

My goal is to make my first deal before Christmas!

Thanks again and Happy Thanksgiving!

Post: New Member from Cincinnati

Sean WinfieldPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 19
  • Votes 7

Oh sidenote...I plan to start as a wholesaler...!!! That's probably a good piece of information I could give...  :-)

Post: New Member from Cincinnati

Sean WinfieldPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 19
  • Votes 7

Hello Biggerpockets Members!

I'm excited to be a member of the Biggerpockets community!  Long ago, I called myself trying to start working as a real estate investor, but was not successful.   The reason was commitment...I just "tried".   Now, about a decade later, I've learned a lot...I've learned that a "try" is nothing but a prolonged failure!  

I've been working in my career field (IT) for quite some time.  In fact, it seems I'm one of the few in my generation that have a job in the same filed in which I studied!  I love my career because it's more than a J.O.B. ...only in the sense that I love what I do.  I have fun at it.  But now, I believe it's time to secure a more solid financial future, and more importantly help others in the process.  

I've been through foreclosure and it was not fun at all.  I've seen first hand what the mortgage companies can do to you financially...(along with bad choices on my part)...  But I want to now educate myself and prevent others from going through the terrible times I went through.  

In regards to what I've done so far as a real estate investor...I'm a part of my local REIA and attending any sub-group meetings, I'm reading a LOT of material and working to find my first deal. It was unclear to me if I should build a buyer's list, find a mentor, or educate myself more. I'm like a sponge right now, so any and all feedback is appreciated. I plan on finding a buyer or two, finding out what they want, and then going out and finding the deal that they want. I'm thinking I'll educate myself as I go, while also building my team.

If you have any tips on getting to my first deal within the next 30 days, let me know.  I've read some articles, but I'd like to know your thoughts as well.