All Forum Posts by: Lisa Phillips

True, charitable giving is a great part of the culture in obtaining wealth, I practice it myself. I hope that 95% do find their way in real estate investing, please dont think by my comment I dont. Sometimes one strategy doesnt work, its okay and encouraged for them to find one that does.

@Llewelyn A. So this course has a 95% failure rate? 

Honestly, I got a little lost in the discussion. I teach people as well what I know (check out my youtube if you want to check me out), but was this discussion about your partnering program?

So, partnering - that's fine, I guess. What I was getting at, like I always have to on BP, is that telling people in my community especially, need to start at a lower priced home. And, a new investor i think should always start at a lower priced investment as well so they dont waste a lot of money to make $200 a month in cash flow (you can make more side hustling mystery shopping). Now, you are saying partnering after 9 months of intense associations with experienced people learning the ropes together - well, yeah, thats pretty much the only way I would suggest partnering.  

But, i've helped too many people invest for their first in times in urban/low income areas, and seen it WORK, so will always let people know despite the advice of the "successful investors" to avoid these areas - they are missing out on a low cost entry to real estate investing. Also, your advice for new investors to ONLY listen to people who are extremely successful - that's that "sound good advice" that has held people back. I have done the sub30k thing with only 4 homes from out of state, but was able to translate and communicate it so that I've helped 100s of people do it themselves all over the country (You can look at my youtube channels, my webpages, for emails, linked in messages, youtube comments, my newsletter, and video testimonials on how many homes they were able to get because I helped them). If those people would have waited until I had 20 homes, there are a couple of things wrong with that 1.) I would have had to wait to share and start explaining how others like me could do this with my strategies and how long would that have been? 2.) People that are THAT successful dont generally have time for new investors - I know there are a lot of highly successful investors here on BP that i've sent a couple of emails too that have been ignored (I get it, they are busy, but that's the real life obstacle that make that good advice worthless without the steps on how to make it a reality. Again, that's good sounding advice, but the reality is if it was that easy to get someone's time, we would all be successful investors - that's the missing link.   Sorry this took so long to respond, I have a 14 week old daughter that takes a lot of my time. So, to everyone reading this  - just question, read between the line, and just because someone positions themselves as a "very successful investor" in their own way of investing does not mean they are authorities on others. I keep seeing "Dont invest in a sub30k pig" from people who have never done it...its laughable, really, but that's what the old guard and typical successful real estate investors would say who dont know anything about these neighborhoods, dont come from these neighborhoods, and cant relate that maybe we do relate and understand them better than they ever will. What we can agree on - yes, educate your self on that subject, just make sure its thorough education that shows the how to do, not just the what to do.

At least your offering more than empty advice, you give people a chance to go through your coaching to gain those skills - If you're going to give advice, it should be followed up with the exact steps for people to get there.

I think we hi-jacked the post. Sorry! @Justin Burgos!

@Llewelyn A.

Well, that's the million dollar statement, isnt it? If it was that easy, it would be happening everything. I live in the south, and the majority of people in this area will barely allow me in their living room (not the same as up north), but let alone to get to the segment of the population that are experienced, AND willing to bring me on - that's a major problem, and its a disservice to overlook that this can be downright impossible if we just go with the regular go to church, REIA meetings. Not everyone has access to that social capital.

Now, the investors I work with simply don't want to partner, and this strategy makes that possible. Not everyone wants to dilute their profits and invite other people's opinions and inputs in their legacy building, and this possibility makes it possible. 

But, we seem to be talking at each other, not too each other. I never mentioned Partnerships - although like I mentioned, that's a whole can of worms depending on what part of the country you live in. Also, cash flow is one of many metrics, but yes, If someone pays 25k for a property and makes $500 a month, that's still better than paying 250,000 for $500 a month - some people don't get that. And some people dont want to "bet on appreciation," as that's speculating and they don't want to play the house - they want to know exactly what their return on investment is each month, not hope that there is a 100% roi in a year - that only happens to very few people, and isnt the norm. 

But yes, partnerships on larger items CAN be a method, but not everyone prefers that if that means investing in NYC. I am working with a client in NYC who is partnering now - its a complete mess if you dont have someone experienced working with them. You like to say,"Whats wrong with him that he can't find an experienced, well placed investor" Whats wrong with everyone??? Because those people are hard to come by, adn I know as hard as I work for others, they STILL aren't giving me and others a chance. That's cookie cutter advice that sounds good, but is the reason people have gone 10 years without investing, and I helped them get their first property in 8 weeks. Because instead of hoping things are perfect (and an experienced investor is finally going to let us in on the good deals), I help people get to work now. 

I wish the people who used to be the authorities on this realize that this talk without real help to back it up isn't helpful. It's not just that simple.

I have a huge platform and know 1000s of investors - Im still not invited to any deals regardless, so sometimes its accessible to some, but myself and my working class routes, No, even I havent been invited to participate with an experienced investor in a sweet deal - And that's true of the majority of not having access to those people. 

Ah yes, and many of our NYC investors are doing just fine investing out of state, that's no problem at all, since they dont have 100k as a down payment to purchase a brooklyn brownstone. Anyways, good luck, just wanted you to know there is another way! 

That gets a little lost on BP sometimes. 

@Llewelyn A.  Hi there, Glad you had the opportunity to take advantage of the market at that time. As I speak to new investors every day, they don't/didnt have the opportunity. OF COURSE everyone wants an easy, high cash flowing, high valued property - where the tenants have 800 credit scores, and  where the tenants are never late and treat your property like gold.

BUT reality is, for many new investors, they dont have the capital to put 20% down on a half a million dollar home (especially for their first property when they are learning the game), nor do they want to if there isnt significant cashflow. I know alot of people will say with a straight face to wait 20-30 years for when something is paid off, but that's not what everyone is going for or want. That doesn't mean they dont deserve to be in the game waiting for them to have as money as you do. 

So, $500 rents? I mean, not in our sub30k markets. And 800 credit score with a 100k in the bank? That's not even guaranteed in A neighborhoods, and even if it is, MOST NEW INVESTORS SHOULDNT/ CANT invest those high amounts to get that new york brooklyn property. Thats what people with good, but not necessarily helpful, advice don't get.

And as i mentioned, the people really doing well in the sub30k property market grew up in lower income/working class neighborhoods like myself, and do quite well with the selection, tenants, etc.

Just like the sub30k market may not be for everyone, and high quality, high barrier to entry, and high costs rentals aren't necessarily where a new investor should attempt to do on their first investment without someone serious mentorship or coaching, and I think its a bit irresponsible to insist that's the only way to go if you are someone who is putting themselves forward as a thought leader (being the very successful investor you are that you greeted your comments with puts you there) without any of the underlying support is asking for someone to be severely burnt and disillusioned. I speak to people everyday who were burnt by that advice everyday. I've others EVERY DAY and get them to buy their first cash flowing rentals (I can link to it if you want to read their success stories using me and my strategies in this area). 

But, I would ask you to speak to people like me in the sub30k community, who STILL have family and cousins who live in these areas you overlook, who are doing great there. Probably because they do come from these places, and the majority of investors up to this point, may have never set foot there and don't relate to the culture. 

So, if you're saying ALL strategies can be learned and considered to see if its right for them and their pocket book, then great - we agree. If you're insisting this can't work and you know best, I hope everyone who takes your word as gospel isn't disappointed that they didnt give it a second look.

Justin Burgos

- I'm not telling you to be a sub30k investor or no, but understand - we have answers, solutions, and investors who have figured out the solutions to these questions, but you can see the response they get by posting on here, vs in our mastermind community, are light years away from each other. Its a completely different discussion.

For someone's first real estate investing purchase, it should be a crawl before you walk, not half a million dollar and 100k down payment to find out you calculated things very improperly (the renovation, the total acquisition costs, rents, tenant laws) due to first timers inexperience. That's something to think about for new investors when deciding on their strategy.

Once they learn the ropes, the uncompetitive (although, aren't they competing by how much money they have on hand vs those who dont?) market is something that may be more appropriate for their skill level and pocket book. 

@Justin Burgos Sub30k market is the same amount of work as any other niche, you just need to knwo what to do. Some people are so far removed from these neighborhoods its hard to adapt, but  most of the people in my sub30k mastermind community come from these neighborhoods like I did, are very comfortable in these neighborhoods, and are making new york city work just fine for them. Also, they all mostly invest out of state - not hard at all once you have a good, solid system in place to ensure success. You may want to check that out, as these questions and others have been answered there. Good luck!

Yes! We are now starting to do GREAT things in these (our) communities and its great we can have an entire subclass who can go into them and invest with respect and strategy :-) 

@John LaMedica Hi, I am not familiar with your term DRIVE - where did you see this? Im not sure what its referencing, but there is alot of different checklists to go through if you're using this strategy.

FYI  - I do coach people who are interested, and 100% of them invest out of state, so its extremely doable.