@William Bentley Just put "Entrepreneur" in big bold letters

We also have investors (sometimes myself) that fund land development projects which can also include large residential or commercial development projects including, but not limited to casinos, hotels, stadiums, golf courses, etc...I have been a very successful entrepreneur who started from meager beginnings and enjoy teaching and helping both newbies and seasoned veterans to achieve their real estate investment dreams.I look forward to getting to know the other members of the group.

If you want to develop massive condominiums as an employee of a big company, sure, get your degree and apply for your dream job.If you want to develop massive condominiums as an entrepreneur, your path will be different.

Te hardest part of being a successful  entrepreneur and a real estate investor is knowing when to say no and which deals to strike.

We ALL should be not landlords but real estate investors and entrepreneurs and provide clean, safe and affordable housing. 

A few thoughts come to mind.First, reminds me of the quote that goes something like  "An entrepreneur is somebody who will work 100 hrs a week in order to avoid working 40 hours a week" The humor with that comes with a thread of truth.Second, I was in a similar situation.

I kept going to school and paying for college, picking up real estate law and entrepreneur courses as my optional classes.

Entrepreneurs seem to think quite differently about wealth than the general population does and the media has a distorted view from what I read.What is your definition of wealth?

I was only familiar with collateralized debt.So when I was lamenting the fact that I could not get money for more homes an entrepreneur friend said, “call the bank and get a signature loan”.Having never heard of this before, I called, and sure enough, IF you have good credit and income, a bank will give you $25-150K just for your signature…to go buy cars, pools and pay for stuff you don’t need.Or, you can use it to buydistressed real-estate.So, here’s where it could go bad.Don’t be stupid.Have your exit strategies.Then execute.My typical deals look like this:HUD/Homepath/VA forclosure wants $41K for a home with an ARV of $65-75K.Let’s assume it needs $10K.I start my bidding ridiculously low, so $24K, but eventually get it for $28.5K.I use “cash” and close fast and get it rehabbed in 2 months…could be faster, but that’s the average.Immediately after I close, I am looking for ways to collateralize the debt…ie REFI.Because right now, I own the home OUTRIGHT, w/ no liens.I do have this other debt not associated with the home and I want to pay it off ASAP before I have to make my first payment.I can 1) use a portfolio lender (typically 80% of receipts, then I retire the rest of the loan w/ my cash).2) Wait 6 months and use traditional financing where I have the possibility to getting all of my money out of the deal since they go off of appraisals, not receipts, typically 75% LTV.While I wait 6 months, my payments on $35K are around $500/mo.Home rents for $850, so I can do this and still pay the bills.3) flip the property to a new home owner and make 7-10K after expenses or 4) do nothing and pay the house off in 7 yrs w/ the 9% signature loan.I hear of people using hard money and the expenses associated, but for the smaller deals like these, IF you have good credit, they don’t make sense.Thoughts?

Entrepreneur:  is living a few years of your life like most people won't so that you can spend the rest of your like most people can't.