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Wealth Building with Real Estate

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Wealth Building with Real Estate

This is a group for those who are interested in creating wealth through cash flowing real estate and equity building

Website: http://www.catalystcoachnation.com
Location: Chicago
Members: 130
Latest Activity: 13 minutes ago

Discussion Forum

$100,000 profit using none of my own money.

Started by Michael Galvan. Last reply by Michael Galvan 13 minutes ago. 10 Replies

In some of my past posts I have shared about the different forms of money. Knowledge, credibility, partnerships, to name a few.  I know that when it comes to real estate investing funding is always…Continue

Tags: plan, action, deals, knowledge, profits

You have to believe it to see it.

Started by Michael Galvan May 27. 0 Replies

The renowned American photographer, Dewitt Jones once said " The banquet of life is always spread even though at times there are none to receive it."   Hence the title of this blog.  You will note…Continue

Tags: work, life, real, estate, hard

The Thief of Opportunity

Started by Michael Galvan May 15. 0 Replies

In a recent webinar I attended we discussed real estate cycles.  As a matter of information real estate cycles are slow moving and typically take 5-7 years to move from one cycle to the next.  We…Continue

Tags: real, estate, steal, procrastination, thief

Can you see the end at the beginning?

Started by Michael Galvan Mar 26. 0 Replies

I wonder how many of us give up on a dream or pursuit of a worthwhile cause due to adverse or difficult circumstances.  Seemingly unending frustrations or discouraging results as we work toward that…Continue

Tags: dreams, see, vision, training, goal

Comment Wall

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Comment by Dan Lacine on September 9, 2013 at 12:20pm

How to market & get good residents?

Seven years ago we decided to try the "buy-renovate & resell" idea (flipping?). By the time we fixed places, the economy turned & we ended up renting instead.

I own 2 properties in town - a house and a duplex (2-2 bedroom units) for rent.  I have 2 vacancies now (out of 3) and it seems that it takes months to get a good tenant (let alone an applicant).  I get a lot of responses to my Craigslist ads and some from the world-known major hospital's online ads. One house is walking distance to the clinic.
I continue to get a lot of "unqualified" callers, meaning - they cannot afford it or they have pets or smoke. I am NOT on a mission to provide free housing.   My application process includes obtaining a credit report (which I do online), verifying income & bank balances & references. Perhaps I am afraid of getting a bad resident so the process is there to avoid that. I have heard too many stories of renters not paying and the property manager having to get a court eviction and then spend more $$ fixing up damages.
I follow the legal requirements of the Fair Credit reporting act and non-discrimination, etc.  I screen my callers before I show the place, but screening callers is a process I don't enjoy.  Eventually I'd like to sell both places, but at this time, it would be nice to have them fully rented so I can get in the black.
I still spend too much time showing my places and good prospects not applying. Perhaps I should encourage them to fill the application at the time they view the property?
Your ideas are welcome.

Dan
Comment by Jonathan Casillas on March 2, 2013 at 5:06pm

 I am a Commercial Real Estate Loan Originator. I am able to close loans in all 50 states. If I can be of assistance please feel free to contact me.

Comment by Jini Charley on February 19, 2013 at 6:23pm

Thanks for the info Thomas. Will take some time this week and look it over and get in touch with you about it.

Comment by Thomas H. Riche on February 19, 2013 at 4:15pm

Jini, I havet't posted on this board in several months and decided to catch up on posts today.  After reading your post regarding RE Development & PM, it reminded me of myself several month ago.  I came to to the realization that I did not know the first thing about real estate, but after retiring from my Job and going to a local real estate meeting with a friend, I thought I might get educated.  That meeting was just enough to whet my appetite.  I wanted to learn as much as possible because my mother, who is now 85 and in a nursing home, has property which is being rented, and neither my sister nor brother have any interest in managing this property and none of us have been educated in this field.  To make a long story short, I found a real estate education company that teaches everything I needed to know, and much much more about the entire field of real estate.  I purchased this education and joined the company.   If you or anyone on this board is interested in this basic to graduate level education, just leave me a post or go to www.getrichewiththomas.com

Comment by Jini Charley on November 24, 2012 at 7:37pm

Hi everyone,

I don't know if this has been addressed before as I am just studying the information in this group.

My question: Is Real Estate Development & Property Management the same thing? If not, what's the difference?

Yours in Success...

God bless..

Ms Ranjini "Jini" Charley
jinicharley.business@gmail.com
http://jinicharley.blogspot.com/p/about-jini-charley.html

"Together with Jesus is better than separate and alone" - Sarah Bowling

Comment by Jini Charley on November 14, 2012 at 10:37am

Hi everyone,


I am interesting in starting up a company here in Belize that buys residential and commercial properties, develops them and then rents/least/resells them, but I have no idea how to go about doing any of this.

If anyone could help me I would sure appreciate it.

Yours in Success...

God bless..

Ms Ranjini "Jini" Charley
jinicharley.business@gmail.com
http://jinicharley.blogspot.com/p/about-jini-charley.html

"Together with Jesus is better than separate and alone" - Sarah Bowling


Group Leader
Comment by Jeremy Cockrum on August 10, 2012 at 11:08am

I invite you all to join a new group I started named Real Estate Agents.

The Real Estate Agents group is intended to provide a forum for licensed Real Estate Agents to exchange ideas, discuss trends, ask/answer questions, refer clients to one another, and provide info to the public.  The Real Estate Agents group is also for members of the general public for them to ask questions and keep in tune with the real estate market.

Comment by Henry Matlock on July 20, 2012 at 10:40am

If you want to expand your reach and gain more followers and customers, then you may want to take advantage of this little nugget I just blogged about:

http://bit.ly/OxGFjW


Group Leader
Comment by Michael Galvan on July 17, 2012 at 11:03pm

Mary, now is the best time to enter the real estate market.  I say go for it.  Don't wait for all the lights to be green because in life there is always a reason not to act on your dream or goal.  You also have the added bonus that your husband is supportive.  Embrace his support and utilize him as a sounding board and a partner in your business.  And yes I mean business.  Please treat your real estate endeavors as a business and your chance for success go way up.  See my discussion about running your real estate like a business.  The finance degree you have will only add to your ability to develop multiple streams of income.  Once you get started your success will become contagious.  Take some time to cast a vision for your work and business, develop a plan and write it down.  Then begin to make small steps and decisions based on facts not fears.  Now is the time to get started.  Best wishes

Mike 

Comment by Patrick Anderson on July 17, 2012 at 10:21pm
If your on this site you are probably looking for something more than the average person. Our friends and family at times can't understand our passion to do someone more in life. Like me when I drive down the street I see houses for sale and find the entire process very interesting.  I call myself an investor and have income properties in Indianpolis, Georgia and California.  With a business partner I also have interests in three additional properties in Indianplois and Arizona. I currently have a great job (not in real estate) and looking towards retirement and doing real estate full time beciuse I find it interesting and want to help people. I completed all the glasses to take my brokers licence last year and been stuck on studying for the exam (not making it a priority and should be). 

So suggestions for you. If we currently look at the real estate market we should always assume that we can't look at the national numbers as they don't tell the local story. You may live a in a great market, where do you live? If you talk to an uneducated person on the street they say the market is bad (because the news said so) but even though prices are down many transactions are taking place. Investors are buying. Sell the same house ten times.  You can sell a house to an investor and then help him/her sell it after the rehab. Friends may tell you there are two many real estate agents, but are they good or great like you aspire to be?  If your passionate about real estate give it a try if it doesn't work you gave it a shot. I know for a fact that when I get my license I will do a great job because I am passionate about it. Have you ever met an uneducated agent, just doing it because they thought it would be fun? There lack of passion shows and if you get educated about the product and process it will show. Rememberer the expert knows a little more than the average person. The most important person (your husband) believes in you and you should go back and renew your license and start part time at first and then see where it goes. 

Our friends in a way want to protect us and employ logic. From the outside they see stability or material things and say your lucky. If you have a crappy job and they doubled the pay it's still crappy. I have many friends that think I am crazy buying properties out of state (some I have never seen). Most investors buy local but where I live the cash flow doesn't work. The easy thing is to do nothing and in my case I have made mistakes, but you learn and move on. I have serval friends that said they were going to buy in 2008 when the market was tanking but didnt and they over analyzed and played it safe holding their cash. I bought and told my friend I am all in. Now when I have an issue (expensive rehab or broken AC unit) their there to remind me of the risk and tell me what I shouldn't have done. These are my friends and they should be supportive but there not at times and this is why you need to surround yourself with like minded people that believe you can. 

I am probably rambling by now and will leave you with this. 

If you think you can, you can. If you think you can't your right.

Please let me know if you have more questions and best of luck in the future.
 
 
 

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