All Forum Posts by: Brian Orr

I'm trying to convert my Roth to a self directed to get out of the market... I've poked around a few online resources, but I'm wondering if anyone has experience? 

Any tips or recommendations on custodians? I'm in Florida if that matters.

I've seen a few post of people transferring tickets, of course after purchasing mine... But I'm trying to convince my sister to go with me now and would rather not spend another $800. SO, if anyone has a ticket at bargain prices, message me.

Alright BP fam... I've been battling through some personal stuff, some of y'all know. But I decided what's best is to spend some time with my lifeblood brothers and sisters in the investing world. So I will see you all in San Diego next month for my birthday party that BP is hosting for me yet again!! Honestly guys, you really didn't have to but I appreciate it.

Ok so seriously, who's going to the conference? Let's connect!

This is our 2nd meetup which we will now continue the first Wednesday of the month! 

The first one went great. It was about a dozen people and felt like a bunch of old friends getting together. 

As we move forward, my hope is to create an environment where we can all learn through the experiences of others. Each week we will share a rookie experience and/or an advanced one. Our purpose here is develop a learning opportunity for all levels by sharing stories and answering questions. My desire is to educate all on the benefits of real estate investing, in any capacity.

There will be ZERO pitches! I have nothing at all to sell you. The bar does though... so drink and food specials will be exclusive to our group.

Sept 7 Agenda: What do I need to know about underwriting a deal? What will a lender expect me to bring to the table?

Investment Info:

Townhouse buy & hold investment in Mount Holly.

Purchase price: $120,000
Cash invested: $15,000
Sale price: $159,000

I bought this property because it was one of the few in the neighborhood with an unfinished basement. It cost about $5000 to acquire and about $10000 to finish the basement conversion.
I rented it with a small cashflow, about $140/mth for two years and sold for about a $22,000 gain.
I was new to self managing at this time and I was nervous about putting another tenant in. And at the time $20,000 gain was massive.
I then used that (I also didn't know what a 1031 was) to purchase a 4plex.

How did you add value to the deal?

By completed the unfinished rec room.

What was the outcome?

+/- $20,000 gain.

Lessons learned? Challenges?

I exited the deal out of fear of self managing the property with low margins. Today it's trading at $257,000. $100,000 more than I sold it for 5 years ago. Had I had the confidence, or knowledge about a property manager, I may still own it.

Hey all prospective investors, welcome to the forums! If you want engagement from experienced investors, I have one MAJOR tip nobody will tell you:

BUY A PRO MEMBERSHIP.

I'm not affiliated with BP in any way, but this is the greatest investing network, probably in the world! If you want to leverage the free input from experienced investors who actually want to help you, prove to them you're committed by investing in yourself and adding that subtitle to your bio pic. 

1. Be persistent in finding deals. It's the hardest part of the job. If you want to build long relationships with investors, find us deals. This does not mean to setup an MLS search and tell them to "call me if you find something you like."

2. If you find a 20-30 unit value-add outside of Philly, feel free to send it my way.

and GOOD LUCK!

 Mo come on down too. 5:30 at The Avenue in DTSP

We are establishing this meetup to spread some investment education into St Pete, and for professionals to interact and share ideas:

Purpose: To establish a local group of people interested in investing or currently doing so

Theme: This week we will be focused on answering questions I received in our public "Meetup" group 

Attendance: 14 RSVP on Meetup and Facebook... If there are any local Tampa / St Pete members I would love to get a chance to meet you all!

Ok, this is my 6th and largest deal so far (10 units), and the 2.5 year refinance strategy is finally closing tomorrow!! My investors are making a killer return on this deal and I'm already working on repositioning my capital to acquire 20+ on the next one!!

I can't express enough about how this platform and all of its content, personalities, forums and media has given me the tools to reach the opportunity to do incredible things for my family and to contribute wealth, education and charity to others.

Please accept this post as a glorious THANK YOU to all of you here in the forums and all the BP staff for all you do for investors of every level.

@Scott Trench Mindy, Brandon, David, Josh, J Scott, Matt and everyone else involved behind the scenes.