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All Forum Posts by: Wave Taylor

Wave Taylor has started 38 posts and replied 74 times.

Post: Turn key-Vs-Added Value

Wave TaylorPosted
  • Baltimore, MD
  • Posts 75
  • Votes 11

You guys were great. I kinda sorta knew what the answer was. Guess I just needed to hear it from experts. 

Post: Turn key-Vs-Added Value

Wave TaylorPosted
  • Baltimore, MD
  • Posts 75
  • Votes 11

Which is the better purchase, in terms of the most bank(g) for your buck, Turn Key or Added Value?

Post: Class C Properties Investment

Wave TaylorPosted
  • Baltimore, MD
  • Posts 75
  • Votes 11

Regaring the "No living space", it is an upstairs unit. It was a 2-STORY row home. The upstairs was converted to a apartment.  It has a kitchen,  bathroom and 2 bedrooms.  There is no living space.  The kitchen is large enough for a small table and 2 chairs. The front bedroom could be used as a living area, which now makes it a 1 bedroom. 

Post: Class C Properties Investment

Wave TaylorPosted
  • Baltimore, MD
  • Posts 75
  • Votes 11

I am looking at a 2 unit building in a class C+ neighborhood for $79,000 One unit has 2 bedrooms but no living space. Any one every purchase a building like this? How well would that unit rent?

Also, can anyone speak on purchasing property from a Bankruptcy trustee auction? How does that work? This would be a different property from one above.

Thanks!

Post: Purchase from a wholesaler

Wave TaylorPosted
  • Baltimore, MD
  • Posts 75
  • Votes 11

Thanks!!!

Post: Purchase from a wholesaler

Wave TaylorPosted
  • Baltimore, MD
  • Posts 75
  • Votes 11

Anyone ever purchase from a wholesaler? How did that work out?

Post: Multi units brought at auction

Wave TaylorPosted
  • Baltimore, MD
  • Posts 75
  • Votes 11

Thanks everyone. Great advice. I will attend one to get a feel of the environment.

Post: Multi units brought at auction

Wave TaylorPosted
  • Baltimore, MD
  • Posts 75
  • Votes 11

There is an auction house in my area and they have a lot of small multi-units up for action. Anyone ever buy a property from an action? Does anyone have any insight on that process?

Originally posted by @Calvin Watson:

Well @Sebastian Taylor funny story actually. The part about the event being about 50 bucks for non members is true. I'd be lying if I said the event wasn't supposed to be a paid event. I did a bit of reading on what was going to be offered at the event and thought I'd sign up. Upon just taking that extra step, I got registered for free. When I arrived there, everyone else had gotten the same. There was one gentlemen who had somehow paid for his registration and he was promptly reimbursed.

As for the part about you discrediting Mr. Goins and the REIA - well that just isn't fair. Even if a person paid to attend the workshop, the price would be more than appropriate. I am well aware that there are some people in the real estate game claiming to be the gurus that will help a person achieve the "get rich quick" level of success that might seem unrealistic and slightly unethical, however I can assure you that Mr. Goins and this REIA don't fall into that category. 

As for new investors, I can even offer some advice that could help remedy the "naïvety" - something that will even help you in your endeavor to invest in regardless of your vehicle of choice! 

Do your due diligence - Do your part and look at the facts of the situation. Realize that with any type of investing there is risk involved, but do your best to mitigate those risks. You'll never be free and clear of the risk, but you can take countermeasures to reduce it! Yes, there's a possibility that it might not work out, but what if it does?! There's beauty in investing, I'd challenge you to seek it out so that you can see it with your own eyes!

Listen to what others have to say - You can levy the expertise and experience of others if you are able to do this one thing. They can tell you about things that from their personal experience that range from not working at all to work almost 100% of the time. They can tell you about mistakes that are likely to be made by a newbie and how best to avoid them. People who are already doing what it is you are wanting to do are an invaluable resource. Cherish their input and opinion, but at the end of the day, the choice of how to use it or use it all is up to you. Use it all, take a piece, whatever - just make an intelligent, well-though-out decision because you are an intelligent person! Trust me :) 

Have an open mind - Just because something hasn't been done yet doesn't neccessarily mean that it can't be. That's how innovation happens! If you think that something can be done faster, better, or any of those comparative words that mean to be "gooder" - then try it out. It could work, it might not, but the experience and wisdom gained coupled with the possibility of coming out way ahead make the efforts more than worth it. (Just make sure you're abiding by the law as you're doing your innovating though! lol) Anything is possible as long as you're willing to put the effort forth and have an open mind!

Take action - Probably the most important piece, taking action is what will allow you to bring anything into fruition. I think that Derek Sivers said it best. "If information was the answer, then we'd all be billionaires with perfect abs." If you never take action on what you know, then of course it doesn't work. I'd like to challenge all of you to learn, but don't just stop there. Go out and do. If you happened to pay for your investing education, take action on it! Don't allow yourself to label that investment as a waste if you never even attempted to use it!

Well, that's about it, folks! I hope that at least one person can find some use in this. I pray that many blessings come your way as you work toward your dreams of financial freedom!

 Good points Calvin!! Especially on raking action. That is the area I really need to work on 

Post: Class C Properties Investment

Wave TaylorPosted
  • Baltimore, MD
  • Posts 75
  • Votes 11

I am loving these stories. Clay, since this will be my first foray into investing, that might be a little bit large for me. I guess I should not say that, Huh? Eventually, I would love to do something like that. It doesn't seem difficult. Just have to find the right property. I know I can do it though. Just need to get one under my control for the experience.