All Forum Posts by: Troy Whitney

Why would anyone invest with this guy?  He burned a lot of people and split.  

Hello Robert.  I've been in touch with Velocity since I posted this and they actually may be willing to work with me on the issue at hand.  From my initial recent discussions with them, this is not something I expected but I may have spoken too soon.  I won't go into significant detail now.  I am feeling better now but I'll send over final word if the issue is resolved.   I appreciate you reaching out.      

Robert - are/were you a lender with Velocity Mortgage Capital?  Of all the alternative lenders I've dealt with, Velocity was BY
FAR the worst I've ever dealt with - I will be steering as many people as possible away from them.   Completely unethical, honestly horrible, horrible, horrible, and that's saying a lot when you are talking about the cesspool that is the hard-money lending industry.  

It's a legitimate hard money lender, but is the worst of the worst when it comes to how they treat their customers.   I know from personal experience

Chris, so now you're calling for a "huge correction" in the stock market and suggesting that people buy mining stocks?  I agree that all of these things could happen, but you are all over the place here.  You aren't offering any sort of actionable thought here.   Right now it sounds like you think it's a good idea to sell your real estate, sell stock market holdings, and buy mining stocks.   Think about what you are saying here.  Mining stocks are NOT a safe-haven.  They are extremely volatile.  Will the overall stock market go down?  Absolutely.  When and how far?  Nobody knows. There are some things you are saying that I agree with, but man, try to keep to a coherent message please. 

Chris,  you are putting yourself out there, telling the world what you think is going to happen.  You think we are going to experience a crash in real estate prices.   You may be right, you may be wrong.   Is there a pandemic?  Yep.  Is it coming it coming to an end?  Yeah, at some point. When?   How much will the Fed help people that need it?  The 2008 crash happened due to many things, one of them being a ton of bad paper held by the banks.   Banks are not in the same position now that they were in 2008.   You can draw all the parallels to the last crisis but the truth is as they quote in the following article, "history doesn't repeat, it stutters":

https://www.atlanticcouncil.org/blogs/new-atlanticist/can-we-compare-the-covid-19-and-2008-crises/

We have a tech economy that is firing on all cylinders.  We also have massive numbers of people out of work, so that the government may print another $10 trillion to keep them afloat.   If that happens, would it be bad to own a bunch of real estate?  Come back in a year and let's see where inflation is.   If you think re is gonna crash, are you also making the same prediction for hard assets and equities? If you are bearish stocks then you should probably short the stock market.  I dare you to short Tesla.   What about the bond market?  What's your stand on that?   All of these things move independently but impact each other.   I can tell you this:  There's an awful lot of money floating (more than ever before) and it has to go somewhere.   

Thanks Brock - I'll check it out.  Looks like several companies have stopped doing modular in this area.  Champion moved out of here.  Factory labor is too expensive.  I'll call Katerra.

Thanks Megay - I think I've heard of Champion. I'll check those two companies out thanks.

That's very interesting feedback Bjorn.  If you could send me the name of the manufacturer that'd be great, so I make sure the same thing doesn't happen on any of my projects.   I am interested if you can send me any info.  TY.  

As someone with a Master's degree, I strongly believe that education is both a wonderful thing and often overrated.  In my experience a college degree is good for two things:  1.  a job which requires a degree or a specific skillset, and 2.  some softer skills, namely how to study, how to communicate effectively in writing, some critical thinking skills, and it may help you build a network (but you can do this in many ways, obviously).  For many people the most important thing is that they get in to, not what they learned there.  Most people that go to Harvard Business School will tell you that it's all about the connections and more importantly, what you do with them. In reality, there are plenty of people who never went to college (or dropped out) who do just fine.     You might consider taking a few classes in subjects that you think will help you.  You will probably want to do some sort of course in real estate math, marketing and communication,  and consider getting a mentor, but don't fall into the trap of paying someone like GC $10,000 to go to a seminar - just don't do it. I will put in a plug here for Michael Blank's Dealmaker Mastermind here.  It's like $50/month, and if you join, watch the podcasts and run your own numbers on those deals presented, you'll learn how analyze multifamily properties. Also check out this podcast if you haven't.  It blew my mind:  https://themichaelblank.com/podcasts/session192/ It's a story about a guy that went from living on a friend's couch to owning over 500 units in ten years, all the while, his brother went to prison. I have had so many advantages over this guy and I don't own a fraction of what he does.    The truth is, unless you are entering a technical profession, it's unlikely anyone you sell a property to would care at all about whether or not you went to college.  If you can hustle, find deals and add value, then the money will find its way to you. If you want to be an investor, then figure out a way to save up some money and then leverage it.    I would also suggest that if you want to start out as an agent, and you want to work in the commercial space, then figure out what requirements there are to work in that space.  There is no one way to be successful.  An easier route might be to get your license and join a team (like Keller Williams has) and hustle like crazy.