Been Away From Investing For a While...Any Pointers On Coming Back?!?!

Pick Your niche in REI (wholesale, fix/flip etc)

Get organized and stay organized

Set goals and a plan to reach them

Network - attend REI clubs- build buyers list- PML

Get serious and don't let Anything or Anyone get in your way

KILL YOUR TV...TOO many HOURS are Wasted that could be used for REI

Get All forms and contracts together and copies

Get busy and don't stop

Best

Thanks, Mike! Will make sure that I do get myself organized and focused on the one specific thing that I want to do(Wholesaling). Never been a tv person(spend too much time outdoors and hate the boob-tube. Starting up my LLC within the next couple of weeks and have just been preparing my buyers list.

Good to see you back! Don't quit again!!! Just think where you might be if you had kept pushing!

You don't need an LLC to wholesale. Use the $$ instead to market your business! Start now! Don't use ANYTHING as an excuse to delay! If you find a good deal, you will find a buyer! Yes, build your buyers list but start looking for properties NOW!

Go do it!!! NO EXCUSES!

Karen

Good to see you're still around! I'm not waiting for the LLC to start, been on the hunt for the past week for FSBO's and have been especially keen on a property that had been under contract for the past month and then finally sold, a few days ago. Drove past it everyday afterwards, to catch the new buyer(s)at it and just this past Friday, did. I'm starting things off on the right foot, this time around. Yes, I do regret all of the time and effort that I had put into this in the past and just let everything else distract and get in the way of becoming financially independent, especially when I look back and see quite a few of the REI investors that started around the same time that I did and today they've become financially successful!

Bryant, I have a feeling this is gonna be your year man !

Hello. My name is Rance Brown. I live in Southern California and I'm just getting started in RE. My goal is to fix and flip properties. I'm currently working on getting my RE license and I have formed an LLC. The problem(s) I'm having is the fact that I don't have great credit and I have zero money to invest in purchasing a property. Through all the research I've been doing I'm discovering that having a private lender be the best way to go. The problem with that is that I don't know anybody with that kind of money they are willing to invest. I'm a 47 year old veteran and I've been in the rat race for far too long. My heart wants to be in RE and I know that once I can get my first deal under my belt my business will take off! Any advice would be greatly appreciated!!

$10,000 IRS Penalty - It'll cost you big time - http://bit.ly/1T3xRV4

WALT

I wil echo w/karen said stick with it but your buyers list is paramount! it all begins with that dont even make offers untl you have 20 for sure buyers on your list that you have talked to ok. whatever the buyers want, flips or rentals, depending on your market-if both types there get both-rental buyers rock!

theyre not looking for too much equity just cashflow. anyway go to the reia's the real estate invesment assoc or clubs that is the best place to find them, go up to the have's n wants & pitch yourself as a wholesaler that needs deals! say you need buyers too! then go look for deals, read the 30 days to real estate given free here, do the homework. buy bandit signs! they work!

you can make them to attract buyers also! put 3/2 ranch fixer cash! and whateer price range is normal for your area, the average price minus 40% on that put that on, if 40k then that or like san diego where im' at average hm 400k so I put 300k or 280k man the ph rings off the hook that is w/you need for your ph to ring to get you momentum, don't let that die this time as youve seen it is soooooo hard to get it going again, some never do!

glad to see you back stay back this time & in 5 yrs you will look back & say this day was a momentous decision & be glad you made it. God bless.

same advice I gave max- go to the real estate investment clubs in your area there are tons of them, just to meetup.com & type real estate investment clubs, go to all of them or as many as you can, go up to the have's n wants pitch yourself & that yoiu want private money believe me they will all approach you & you will have private money.

I would if I were you wholesale also to have monthly cashflow, it's like having rentals without the headaches read the 30 days to re cash like I said, also I am building my team in LA & inland empire & OC(i am in san diego) so if you want to work with me maybe we can do that ok. just pm me.

PS I would be careful fixing n flipping, hopefully you have some experience because there is risk in flipping you have to know what you are doing, how to comp out props, have contractors, manage them etc mistake happen & it can be costly, that is why I recommend wholesaling bc there is no risk with that-only cashflow! God bless.

Bryant,

I'm right with you. I've aloud myself to drift away from REI. I let life get in the way and being involved in other things take me off track. I have a wedding coming up and need a few extra $$$ to help pay for it. Working extra hours at work isn't cutting it. I've been beating myself up thinking about where I could be right now if I had stuck with it. I don't have a choice anymore. My advice, push forward with everything you got. That's what I'm doing. Wish you nothing but the best.

Josh

The key to avoid IRS problems with an LLC is to register it as a SINGLE MEMBER LLC. This is what we do with the LLCs that we create specifically to wholesale properties within. This will be reflected in the Articles of Incorporation for the LLC These docs are a matter of public record. The Operating Agreement for the LLC is NOT a matter of public record. Other members/managers(read partners)can be added in the Operating Agreement for the LLC. The IRS will still treat the LLC as a single member LLC.

Now for our actual Business LLC we have an EIN # and file our taxes as an LLC filing as an S corp. We may be changing to a C corp in the future.

The person in the article formed a multi member LLC and did not file with the IRS, this would be the same thing as us not filing a tax return for our actual Business LLC.

Hope that helps,

Michael

I don't know what happen to Robert. looks like he got the "shiny object syndrome disease"

Just saw Robert at my club meeting Wednesday night. Got a text from him this morning that we got another property under contract. He has been submitting at least 2 offers a day. He has moved from the theory/training into taking action.

My daughter has 4 properties under contract in Grand Junction. Did you connect with any investor buyers there through your Craigs List ads? Bring a buyer, earn 1/2 our fee!

Michael

too much BS. I wish y'all well. Robert told me he had given it up. I thought it very strange he would waste that money......

No! thought you were committed! theres a diff in being interested in real estate & being committed my friend, if your just int you will only do it when it is convenient for us.

When we are committed we do it even if it isn't convenient. Life is a choice my friend I hope someday you will take massive action, all you have to do is build your buyers list correctly & you will gain momentum & start making offers. I would restart where you live or the nearest biggest town. IT's easier to do that instead of far away, i am focusing on southern calif now

No! thought you were committed! theres a diff in being interested in real estate & being committed my friend, if your just int you will only do it when it is convenient for you.

When we are committed we do it even if it isn't convenient. Life is a choice my friend I hope you will take massive action, all you have to do is build your buyers list correctly & you will gain momentum & start making offers. I would restart where you live or the nearest biggest town. IT's easier to do that instead of far away, i am focusing on southern calif now

Sorry to hear that you have moved on to something else! You can always come back!!!

Michael

Welcome back Bryant,

I too have been away from Real Estate for awhile and am back in for good. Remember to stay connected to our DG group for encouragement support,and post OFTEN! it's been a lifesaver for so many here!

Best success to you always,

Lawrence Shine