All Forum Posts by: Tim Ryan

@Kyle Deboer Love your eagerness. Who's asking for the down payment? Just you?

Hmm, that means you haven't built your team yet. Other team members can fill your gaps of experience, lack of credit, etc.

Be ok taking a smaller percentage of "something" rather than chasing all of nothing.

@Kaylee Walterbach that is a really great spreadsheet I had not seen before.

I just sent it to a couple of people I am helping in real estate and I said: Ask yourself how would Warren Buffett read this spreadsheet?

Find the mediocre cities that you believe could have a future growth spurt. Research online can show jobs coming in and government adding assets to the area, etc.

Go in early to the market and buy cheap. Hold and ride the wave up...

So, realize that the big number cities may have already had their day, and you missed it. Be careful investors.

Hey Stuart,

I don't know much about Vegas other than it just seems to keep growing. Not sure if price wise it's too late though.

I also one who invests in the midwest and previously in the south. Lots of factors to take in when picking a market. My advice is to bear down on One Market at time. We can jump all around the country as this is usually our secondary focus after our day jobs.

Hello Elisha,

Welcome to the BP family. Being in SoCal I see you already understand the need to buy a rental out of state. I've been doing this for years now.  Lot's to learn. Let's see how we can connect and hopefully can provide benefit to both of us especially since we are local.

I have bought On-Market, and Off-Market.  I agree with @Joe S. that its not necessarily good advice for newbies to go after that market.

But I will tell you how I found all my off-market deals, and actually anyone can do it. I did not use wholesalers (only once on a flip).

It's all about Networking in the town you are farming. It's imperative to get to know brokers, agents, other business people. The other key is to come to town and buy something quickly. It'll give you so much clout.

When you are seen as a player and someone who closes on deals, that's when the calls come. So it's more organic than a process. And it works.

@Theresa Harris. I think you are smart to see your real estate investments as long term. And having the tenants pay off your mortgage! ;)

Right on!

Failure is not the opposite of success, it's part of success.

@Theresa HarrisThen hang on and ride this out. Of course I am talking about the coming economy, not what it's been.  You must know business as usual is now gone!

I had a conversation with one of my investors yesterday and he was asking where is all the positive cash flow and the equity appreciation on our deals? 

I told him that if we can hang on and break even right now, then that's a win.  We had Covid, high interest rates, inflation, bad politics...  

Businesses, even good ones, have some bad years during their lifetime.  Oh, by they way, owning investment real estate is a business.

Here's my not meant to be a political statement, statement:  We are entering a new Golden Age of Opportunity for Business.  Get excited!  Of course, the only way to prove this (for or against) is reply to this post in a years time.

Wholesaling is a very difficult business.  I know, that's opposite of what people say...

@Rick Albert is right on and gives good advice.

I'm actually wholesaling a property this week, but this just happens because I am in the game doing flips, developments, and rentals. i would never try to make a business out of it. 

So, to counter a lot of advice I hear to beginners: do wholesaling last, not first ;)

The economy hasn't been great (the past 4 years), now we expect it to get better.  If you can hang on into next spring/summer I bet you'll get better rents or be able to sell.

How about asking your lender to push a monthly payment to the end of your term for the purpose of fixing the asset? I have done this successfully in the past.