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All Forum Posts by: Zachary Foust

Zachary Foust has started 25 posts and replied 83 times.

Post: Young and newly licensed. Where do I begin?

Zachary FoustPosted
  • Dover, DE
  • Posts 86
  • Votes 32

Hey Johnathan! 

Great to see a young investor out here with me. I would personally begin by bettering your knowledge of investing and business overall. You can always better your mindset. (I'll list some books below that are great to start with) 

Joining your local REIA is a GREAT way to get into the world of investing for your specific area. A simple google search should show you where that is and who runs it.

Other than that, simply being on BP can lead to great knowledge of the business and how it works n your field. 

Good luck!

Not to familiar with the NJ area, so I am not familiar with a specific business for Flooring. 

I would personally check liquidators and wholesaling floor an tile marts in the area.

For cabinets though, look up your local Habitat for Humanity Restore. They sell refurbished products from homes that were either redone or foreclosed. They sometimes have cabinets that have the tag still on the back that are marked down 60%. 

Post: Understanding your market.

Zachary FoustPosted
  • Dover, DE
  • Posts 86
  • Votes 32

Getting your license and having MLS access is a great way to gain access to all comparables for any and all zip codes and RE options.

Zillow does offer ways to compare homes to get a good gauge on your area but they are not always to accurate. 

My advice would be to link up with your local REIA group in St Louis and learn there. Many investors attend those groups that are looking to impart knowledge to new investors.

Post: Newbee

Zachary FoustPosted
  • Dover, DE
  • Posts 86
  • Votes 32

Any questions you have on rentals, feel free to ask. 

If I don't know the answer, I know someone that does.

Post: Newbee

Zachary FoustPosted
  • Dover, DE
  • Posts 86
  • Votes 32

That is fantastic to here!

Welcome to BP!

Post: Delaware Knowledge (Beach Homes)

Zachary FoustPosted
  • Dover, DE
  • Posts 86
  • Votes 32

Every REI knows the 1% rule and 2% rule when it comes to rentals (making 1% of the mortgage monthly with rent)

Does this same apply to beach homes? 

Especially beach homes that you rent Bi-Weekly, Weekly, or even Daily.

What are the differences and how have you fared in that area of REI?

Post: Wholesaling as a whole....is fake

Zachary FoustPosted
  • Dover, DE
  • Posts 86
  • Votes 32

@James Danchus

I Do not intend to judge, belittle, or look down upon anyone for choosing a different path in life. 

If that is how I come off, I apologize. What I mean to portray is the lack of motivation in our field. 

Deciding something is not for you and pursuing another venture, is fine and should be respected.

I only mean to say that those that claim the title of "investor" and have hardly even "invested" time into learning about what they are doing. 

Post: Wholesaling as a whole....is fake

Zachary FoustPosted
  • Dover, DE
  • Posts 86
  • Votes 32

@Steve Vaughan and @Chris Mason

I agree that Steve's "Mental Capital" is a fantastic way of approaching it. Having some skin in the game and proving motivation not just at the beginning, but showing true drive for what you are going after is a good idea.

Post: Wholesaling as a whole....is fake

Zachary FoustPosted
  • Dover, DE
  • Posts 86
  • Votes 32

@Account Closed it is just a matter or motivation. Everyone knows what they have to do but almost nobody does.

Post: Wholesaling as a whole....is fake

Zachary FoustPosted
  • Dover, DE
  • Posts 86
  • Votes 32

As a business owner already, I have seen many say, "You are so young, how did you start?" "Where did you get the funds to do it?" or "Where did you learn what you know about business?"

I answer all the questions as honestly as possible, give them the path to do something similar if they want to, and then help them along their way when they ask for it.

Yet as emails eventually begin to go un-answered, loaned out books tend to stop getting read, and invitations to seminars or groups seem to be forgotten, I have found that people simply are not motivated. They catch a glimer in their eyes when they see success and want to know how to do it to. But it only takes one tough day, one early morning, or a simple realization that what they are doing may be tough, to make them quit all together.

That leads me to "wholesalers".  

The flakes of the Real Estate world.

I say this with a grain of salt, being that I myself have wholesaled deals, and I have met some of the hardest working, truly motivated individuals who are wholesalers themselves.

But I would generously say that out of the 10 people who say they are wholesalers that only 1 has ever done, or ever will do, a deal. 

Why is this?

How do people see the light and turn away?

They want to be financially free, but can't accept a challenge?

Is it only my generation, the millennials, that feel everything will be easy?

They say they want to be millionaires one day, but only have the mindset of an average man. 

Average minds don't make millions.

Average minds do not chase their dreams, make it to where they wanted to be, and then keep going.

Why is it that when someone is given a blue print to success (List of Books, Unlimited RE knowledge of BP, etc.) that they think "one day" there will be a better opportunity to start?

I do not understand. 

I say this all in light of losing my job, and continuing.

Of cutting ties with people that were dragging me down.

Rising at 5 each morning to better myself. 

Of doing what SUCCESSFUL people say to do.

Why NOT follow the path that has proven time and time again to work?

I do not understand.

I am simply tired of talking to people that want me "to join a buyer's list for great deals" and then not hear from them again. 

I am also sad, to see that this generation thinks this world is going to hand itself over to them. 

Not just wholesalers, but lack of motivation in general.

Whether or not you wanna be rich, simply get by, or have some other goal. Why not chase it with everything you have?

I simply want to be financially free. Not rich. Just comfortable. And to MOST of all, do what I love.

Because if you do not love what you do, you won't succeed, 

Why would you have the gift of life, and not try to embrace it?

That is my vent. 

So what do you think?

Does this subject frustrate anyone else?

What is your opinion?