All Forum Posts by: Joshua Berube

so I am going to put an offer down on a property on Tuesday, and it will be a creative one. and I am nervous as all hell. I am using money lent to me and while I truly believe it is a good property with great potential, if I screw it up.. well.... I'm nervous.

 I realize that everyone here has had the same anxiety, and I am preaching to the largest choir there is, and while I'm not exactly looking for a pat on the head and a 'you can do it' I really feel I need to get this out. but I have on one in my life that is the least bit sympatric and they all figure I should be committed for taking this risk. not exactly motivational...   

I know that the worst thing that could happen is that the seller says no. but that isnt what I'm worried about. I'm worried he will say yes.

If the seller accepts, it will be my first deal. and there will be a lot riding on me. there is something in me (no idea if its my head or my heart) that is telling me that I can do this and that it is just another challenge to over come.

I keep telling myself not to look at the whole picture at once because i will get overwhelmed.  i have to think in steps, because if step one falls through, then there is no point of worrying about step two. but then I start to think that if i dont worry about step two, then the success in the first step might turn into a failure.

I know I can do what i am setting out to do. there is a nagging thought though, a persistent little bastard, that keeps repeating "if you screw this up, no one will trust you again" its a jerk thought, i know. but its there. its the unknown, i guess,

any way, this may seem a little boohooish, and i apologize for that ( being Canadian, we apologize for almost everything) but like i said, i need to vent.

Enjoy your day! Long Live Bigger Pockets!! 

Bob, I don't have a flawless agreement. I really don't think that ANY argument can be called flawless. I just want to know where you are coming from. I understand that the proper use of leverage can be a huge advantage, but there has to be risks in using it. you SEEM to be arguing that leverage is the cats meow and works every time. I want to believe you, because if you are right, then it is another tool in my tool box, and I will freely admit my current tool box is unfortunately rather slim and consists of Sears specials...  

I guess I was bang on

Hi Tanya. Welcome

 I second Jon's idea of the podcast marathon. they are basically all I listen to at work..

great information and it helps to keep the motivation up

Good luck.

Your friendly neighborhood Canuck

Joshua

hi @Anthony Pormilli Welcome!

 As a newer investor myself, I have to say I believe you joined the right site. this place is amazing.  Im not a wholesaler myself, but there are LOADS of forums posts from experienced investors and newbies alike. im sure if you search for your questions you will find your answers.

 Best of luck man.

your friendly neighborhood Canuck

Joshua. 

Hi @Craig Smith . I believe that you have a couple of choices.

1) If you can get the property under contract at a discounted rate, you could wholesale it to another investor for a fee.

2) You could talk with the vendor and see it they are willing to do a seller finance with a smaller down payment, using whatever you have left over to try and repair. or even talk with the vendor and see if they want to partner with you.

3) find some one you trust who has what you are missing and partner up.

4) pass this by, knowing that you will find another deal, and gear yourself up (fix credit/no money issues) with the goal to fix and flip

some basic ideas. you can search the site for more forums on what you need.

Good luck! keep the forum up to date on how this works out for you.

Joshua

 this is an exaggeration to prove a point, correct?

I understand that with leverage you can control more property, but isn't the argument about negative leverage? Is it wrong to say the amount of property you own is immaterial if the leverage is eating your total return?

@Account Closed 

off the top of my head, I can't. I don't know enough about leverage to do that. which is why i have repeatedly asked you to explain your position. i get the feeling that you are trying to point out my ignorance. go nuts. that's why I'm here. To learn. Its possible that I missed something when i read J Scotts post. but at least he tried to explain where he stood. all you did was criticize him for doing so.  

Hi @Tom Stromar 

 I might take you up on that. I have a property in mind, we should see if they match. I will be in Nanaimo next weekend. I will have to drop you a line.

@Dave Visaya Thanks for the welcome! believe me I will jump in head first. I LOVE this type of thing and when i talk real estate with my current friends and what my plans are, I can literally see their eyes glaze over.... not very motivating.. Im glad i found a like minded community!