All Forum Posts by: Tim Puffer

 Michael - This piece from Gino will be the best piece of advice you get - and it's not even close. Too many people are looking to take first. GIVE my man! Help others achieve their goals and you'll look up one day and see that you also achieved yours. 

@Kelly Gilson - Could we get a little more context of where you are - by that I mean do you currently have a possible opportunity and have you completed a real estate deal before?

 Kim - Seriously awesome! You have no idea the amount of people that get on here wanting everyone to tell them how to get a mentor. You are doing exactly the thing that will help you find a great mentor. You're not looking to just take someone's knowledge, but to add value to them. In return you will learn a ton.

Keep hustling! Good things will happen! 

@Olivia Umoren - Welcome! It's awesome that you're thinking about your future early - a lot of our peers don't!

I bought my hose hack duplex while still having student loans to pay off, car payment, credit cards. It just made too much sense not to. I actually refinanced my vehicle and pulled cash out and got a 0% interest credit card to fund my rehab of the rented unit. :). 

I think that either - buying a duplex and living in one side and renting out the other, or buying a single family house and renting rooms out is a great way for you to get started. 

You may do it and decide that you don't want to do anymore rentals and venture into something else like I did! But taking the action will help lead you to where you want to be.

@David Santore - I underwrite property for various areas in Michigan - you sometimes have where the Market Value of the home may be more or less than the replacement cost of the home. Depends on the market. 

I have $1 million liability on my duplex that I house hack. Raising your limits and getting an Umbrella would be relatively cheap compared to the overall cost. 

@Anirudh Goel - So is your plan to rent the first home out when you move into the second home? 

Why are you buying a second home?

 Nice work! Taking action is the big thing and you are doing that! Definitely remember that this game is a marathon. Every now and then you will feel like you're running on a treadmill not getting anywhere. Keep working and things will fall into place. 

@Elizabeth D. - @Joe Villeneuve is laying out great perspective. I've done a few courses myself - all have been less than $2,000. One of the courses I got through, tried it, and didn't like it - but I still learned something from it! 

Do you need to spend $25,000 for a course? I don't know - maybe, maybe not - likely not. I think it depends on what type of person you are. If you need someone to hold your hand and give you all the systems then you might. But, if you like to figure things out a bit and have a little guidance then a few of the lower cost courses may be for you.

Another thing - Are there some programs that are not what they are touted to be? Yes! But there are also some great programs out there that give awesome content and can really make a difference between you moving forward and not. 

Maybe you go and work for someone who is crushing it doing what you want to do in real estate FOR FREE. This will allow you to gain knowledge that you can apply yourself on your own projects in the future.

@Chad Bilstein - Nice working getting your education started! Also good work not paying for that "Masters Program". haha.

A few notes - 

Why are you worried about setting up a business plan, LLC, etc right now? Go out there and do! It's ok to do a few deals before you have that stuff completed. All the other stuff will fall into place - I promise!

Passive Income does not exist. Real estate can definitely provide an income where you can do it from anywhere, but it's far from passive if you want to get to the level you want to be at.

One last thing - Real estate is a contact sport and you will get punched in the mouth - can you take a few punches and keep going?! :)

@Ricardo Velazquez - How old are you my man? How long have you been studying real estate? And did I read correctly that you've done a few wholesale deals?