Rehabber, Landlord, Marketing, Wholesaling

[jon.a]

Fancy to see you here, Ryan

Good to see you over here, Ben

 

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[MJ DeMarco]

Are you guys from BiggerPockets? Nice to see some RE guys here, usually this forum is the one exporting users over there due to their RE focus.

 

[Ryan D.]

Are you guys from BiggerPockets? Nice to see some RE guys here, usually this forum is the one exporting users over there due to their RE focus.

Yes sir! Really like the site/book by the way.

 

[jon.a]

Are you guys from BiggerPockets? Nice to see some RE guys here, usually this forum is the one exporting users over there due to their RE focus.

A couple of RE guys that are actually qualified to do an AMA.

 

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[JustAskBenWhy]

Fancy to see you here, Ryan

Just came across this platform. Trying it on for size. Not sure if I can be of any use to anyone here... Look me up; we'll hook up and I'll let you buy me lunch...since you're rich, and all...

 

[JustAskBenWhy]

A couple of RE guys that are actually qualified to do an AMA.

Yes, not sure about Ryan, but BP is definitely home base for me. Glad to be here, MJ. As to qualifications, Ryan knows stuff...I'm just a dumb landlord

 

[jon.a]

...I'm just a dumb landlord

Bullshit!

 

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[JustAskBenWhy]

Bullshit!

Haha - well, two things are clear:

1. Any forum which permits "bullshit" as a statement of expression - is my kind of forum. Feel cozy already...just need to figure out how to work this thing.
2. Looks like my reputation may have preceded me. All good things are true - the rest are lies!

 

[jon.a]

Yes, not sure about Ryan, but BP is definitely home base for me. Glad to be here, MJ. As to qualifications, Ryan knows stuff...I'm just a dumb landlord

Do a 30k pig thread. It would be valuable.

 

[JustAskBenWhy]

Do a 30k pig thread. It would be valuable.

Haha - funny you should mention. Just did a T8 cash flow analysis across my portfolio yesterday. Freaking ridiculous - while there's nothing loosing money, the damn SFRs are at bare minimum...barely. Apartments are doing well, even in spite of some serious CapEx having been deployed.

How's the real estate presence here?

 

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[SteveO]

Fancy to see you here, Ryan

Hey Ben. Not a lot of real estate over this way but a very different overall outlook to investing than over at BP.

 

[Ryan D.]

Hey Ben. Not a lot of real estate over this way but a very different overall outlook to investing than over at BP.

This guy just bought a damn golf course. How badass is that?

 

[Ryan D.]

Just came across this platform. Trying it on for size. Not sure if I can be of any use to anyone here... Look me up; we'll hook up and I'll let you buy me lunch...since you're rich, and all...

hahahah you're hilarious. Yeah BP is home for me. I've been here a few weeks.

 

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[JustAskBenWhy]

Hey Ben. Not a lot of real estate over this way but a very different overall outlook to investing than over at BP.

Wow - all of a sudden it's raining BP people Thanks Steve!

Can you give me a 3 sentence synopsis - what are people about? And what's the best way to integrate and introduce myself?

 

[JustAskBenWhy]

hahahah you're hilarious. Yeah BP is home for me. I've been here a few weeks.

Ryan - if you spent half as much time studying CFFU as you do on social networks, you might be able to actually afford to pay for my lunch... Thoughts on that...lol

 

[Ryan D.]

Ryan - if you spent half as much time studying CFFU as you do on social networks, you might be able to actually afford to pay for my lunch... Thoughts on that...lol

Man that was low! I've actually read it front to back a few times! Thank you very much. Pretty sure I gave you an absolutely glowing review on BP a week or so ago as well! Actually looking at a few triplex properties as we speak.

 

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[Ryan D.]

And... I can afford lunch! Come on now. Lol. I probably will have to make a second trip up there to meet you though. I think we're making it a day trip.

 

[SteveO]

Can you give me a 3 sentence synopsis - what are people about? And what's the best way to integrate and introduce myself?

This world is about Fastlane thinking. Making real money is the name of the game. Although some are working to get something started as boot-strappers, there are many that have some incredible things going on.

I learn a lot here from people and their different views of the world. This place is my world of comfort. I have many close friends here that I can discuss money and business with. We all "understand" each other.

I know from your posts at BP that you are not thinking as a "buy a property and rent it for 100 cashflow" type of person. We know where that will take you. That is what bored me away from BP. Acceleration is the name of the game for me.

 

[JustAskBenWhy]

Man that was low! I've actually read it front to back a few times! Thank you very much. Pretty sure I gave you an absolutely glowing review on BP a week or so ago as well! Actually looking at a few triplex properties as we speak.

Nice!!! On both -triplex and the glowing review (shoot me a link, I don't know that I saw Thanks, Ryan!

 

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[JustAskBenWhy]

This world is about Fastlane thinking. Making real money is the name of the game. Although some are working to get something started as boot-strappers, there are many that have some incredible things going on.

I learn a lot here from people and their different views of the world. This place is my world of comfort. I have many close friends here that I can discuss money and business with. We all "understand" each other.

I know from your posts at BP that you are not thinking as a "buy a property and rent it for 100 cashflow" type of person. We know where that will take you. That is what bored me away from BP. Acceleration is the name of the game for me.

Real Estate is not the way to necessarily make money - it is to build wealth. In my case, I am more fortunate than most in that I have both to a certain extent. But, IM and other businesses are a much more efficient way to create CF...

 

[jon.a]

Wow - all of a sudden it's raining BP people Thanks Steve!

Can you give me a 3 sentence synopsis - what are people about? And what's the best way to integrate and introduce myself?

Just introduce yourself. We're not formal. Start an intro thread. The biggest thing here is everyone who is anyone has read MJ's book. You can download the first 3 chapters via the link on the right-hand side of the header. In one sentence, life is good for those that provide value, it sucks for those that don't.

 

[SteveO]

This guy just bought a damn golf course. How badass is that?

Thanks Ryan. The golf course is not that big of an investment by comparison. It is smaller than each of the last three real estate transactions that have been done. The purpose is more for a "retirement" type of a setting.

The apartment real estate game seems to be played out for now.

 

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[jon.a]

Thanks Ryan. The golf course is not that big of an investment by comparison. It is smaller than each of the last three real estate transactions that have been done. The purpose is more for a "retirement" type of a setting.

The apartment real estate game seems to be played out for now.

Funny Marcia was just asking me why, over breakfast.

 

[SteveO]

Real Estate is not the way to necessarily make money - it is to build wealth. In my case, I am more fortunate than most in that I have both to a certain extent. But, IM and other businesses are a much more efficient way to create CF...

Agree!!!

Build the net worth to the point that you can buy something that will really cashflow. I stated that many times. Most of the properties that I had purchased during the past 5 years were negative cashflow at the start. Zero cap rates were typical.

Once they were turned around, there was cashflow but 5-10%... Who gives a shit? I want the big payday from the sale. Rinse and repeat...

When the money builds to the point that you can purchase something with 100K passive/year, then you are talking.

 

[SteveO]

Marcia was just asking me why

Have heard that question a lot recently.

 

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[JustAskBenWhy]

Agree!!!

Build the net worth to the point that you can buy something that will really cashflow. I stated that many times. Most of the properties that I had purchased during the past 5 years were negative cashflow at the start. Zero cap rates were typical.

Once they were turned around, there was cashflow but 5-10%... Who gives a shit? I want the big payday from the sale. Rinse and repeat...

When the money builds to the point that you can purchase something with 100K passive/year, then you are talking.

There are issues with what you're describing though, Steve...

1. In the big space you are forever competing with money whose agenda is very different from yours - this is very much a limiting factor. In the small space it is easier to find deals.
2. Also, to get to a pint where you can take down $100,000 passive requires an uncommon amount of intellectual worth. And the only way to develop it is by doing smaller deals. This is why most people loose money on apartments, and the only saving grace is that via leverage we can drive the IRR...

 

[JustAskBenWhy]

Have heard that question a lot recently.

Haha - would you like the long or the short of it?! lol

 

[MJ DeMarco]

life is good for those that provide value, it sucks for those that don't.

Gonna steal this... love this as a TMF synopsis in 15 words or less... ha ha.

 

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[SteveO]

1. In the big space you are forever competing with money whose agenda is very different from yours - this is very much a limiting factor. In the small space it is easier to find deals.
2. Also, to get to a pint where you can take down $100,000 passive requires an uncommon amount of intellectual worth. And the only way to develop it is by doing smaller deals. This is why most people loose money on apartments, and the only saving grace is that via leverage we can drive the IRR...

You should have that intellectual worth by the time you build the money.

I have dealt in the big space before. There is a way to play that game but you must have the resolve to be willing to go counter the market cycles. Buy when the reits are selling and vice versa. But I do agree with you that it is easier to play the mid-size apartment game. I like the 20-80 unit range.

 

[BrandonS85]

There are issues with what you're describing though, Steve...

1. In the big space you are forever competing with money whose agenda is very different from yours - this is very much a limiting factor. In the small space it is easier to find deals.
2. Also, to get to a pint where you can take down $100,000 passive requires an uncommon amount of intellectual worth. And the only way to develop it is by doing smaller deals. This is why most people loose money on apartments, and the only saving grace is that via leverage we can drive the IRR...

There are issues with what you're describing though, Steve...

I agree in the sense that $100k/yr net deals are few and far between and do take a good deal of skill level to complete, however there's plenty of deals I've run across in my local area that were $40k-$50k/yr NOI deals that would have worked out pretty well for a semi-seasoned investor as long as you paid attention to all the nuances of the local area.