All Forum Posts by: Willie Kate

@Carlos Aquino you’ll need to build your lead sources.  Driving for dollars is good start and the most economical.  Build relationships with real estate agents in your market.  Talk to them about off market lastings and how you can help them on both ends of the transaction. 

Take a look at some of the education material on BiggerPockets.  There’s a lot of good stuff. 

@Sheila Campbell It looks like to you’ve got some good advice and info from 

@Lydia R.   Wholesaling can be a good way to learn all the aspects of active real estate investing. There’s a lot of good info on Bigger Pockets.  Keep doing your researching and understand all the different aspects of wholesaling.  This will help you build your investment strategy and determine where wholesaling fits in for you.

@Noah Norton Just to add a broader perspective, wholesaling/rehabbing is a way to create revenue (cash) is a relatively short period of time.  Buy and hold is the long term play.  Either way, you're creating your own business (the key is remembering that you are building a business). There are a lot of good resources here on BIgger Pockets and few other reputable resources as well that go in depth in all these areas.

As you pursue the path of a real estate investor, ask yourself questions like do you want to be an active investor or passive investor?  Or do both?  What is your ultimate goal? How do you plan to finance your properties and/or transactions?  How much time do you have to invest in your business?  Picking the path and getting started is probably the biggest challenge but, as they say, "your mileage may vary".  It is possible to be a real estate investor part-time even while attending college (don't miss out on that experience).  

As I saw posted previously, attend your local real estate investor meetings.  It's a great place to network, develop relationships and find mentors.  You can ask questions there and be with like minded individuals who can share their experiences and provide invaluable insight into real estate investing.  

Good Luck and happy hunting!

Wayne Brooks 

Thanks for the response.  

It was already in the unit.  We wanted to actually use them as is. 

Hello,

We recently rented a warehouse space for storage purposes.  There is a loft in the property.  We requested to keep the loft.  However, the owner of the warehouse space says that the loft needs to be demoed and they wants us to pay for it.  They are concerned that the loft is not up to code and it would be a liability issue.  My question is, who's responsibility is it to pay for the demo? Can we request for the owner to bring it up to code?  Any insight is appreciated.

@Victoria Winters 

Thanks for your post.  I'll look into the contents here on BP as you mentioned.  I'll keep in touch as I seek further advice.

@Brandon Turner 

Thanks Brandon!  And, yes, I've downloaded the guide AND listened to the podcasts!  

@Larry Fried 

Thanks!  I'll check it out.

First and foremost, thank you for your support and advice.  (Hopefully, it's proper etiquette to respond in the following fashion)

@Larry Fried ;  thanks for the tip.  Do you happen to have a link to the online material?

@Paul Timmins Great advice.  As they say," Grab mitt and get in the game!".  

Kyle,

Thank you for your response. I Recently started to research using a solo 401(k). Is that one type of self-directed IRA? Are there others?

Hello!

In  an effort get past my "analysis paralysis", I'm taking the plunge and getting more engaged in my real estate activities. The only properties that I have invested in are the homes that I've owned.  I've spent many years doing research, learning and working the math but, I haven't actually bought an investment property.

My goals are to provide a means to a college education for my two kids (4th and 5th grade, respectively) and to augment my retirement.  If I create that foundation, I'll have the fundamentals to potentially take things to another level. (My situation is very similar to that of Karen Rittenhouse from Podcast 002; Starting out with Karen Rittenhouse).  

I currently work in the hi-tech industry on the sales side.  I want to be able to translate those skills and talents into this new venture.  I'm pretty savvy around the computer (Apple based devices; home networking, making data sharing from device to computer, etc,) and would be willing to offer help to those who need it.  

I seek advice and encouragement to keep me focused and plot a sound course of action.  Some of the strategies I'm looking into are wholesaling and Subject-to.  Eventually, I'd like to try and flip properties. My financial situation is such that I have decent retirement funds but, not a lot of cash.  Any and all insight is appreciated.

Regards,

-Willie