Is it a good thing to be in Debt 11.9 million dollars on just at 60 homes at the ripe age of 29?
My rents cover all the mortgages and I make just over 11,000 per month in cash flow!!!
Holy moly, you are awesome bro!
Now that’s the case, you should give me $1 with an autograph on it. PM me for my address. ;D
I own nothing,I buy and sell in an S-corp and hold title in a land trust… That is my legal disclaimer… And will swear that till the end. Even my own personal house is owned by The People of Guam LLC…Which in its self is a bit un-easy for me I don’t even really know where Guam is!!!
that sucks for your amount of debt. I don’t take title anymore to property and I make 3x that a month and more!!
experince is the real key…
Well Chalange this.
I dont even touch a deal unless I walk away with 30-40k at closing and still have 20% equity in the property!!! I will forget more about real estate then most will ever know!!! Call me when you can do 20 a month lets compare bank statments thats where the proof is anyway!
REOConsultants
If what you say is true then my hats off to you. You have reached hero status.
You must have a system other than buying and flipping?
Do you believe that Anyone can reach financial security in 2 years?
How about financial FREEDOM in 5?
Those are my goals.
To be where you are at this age tells me that either you started out ahead of the game (family money…trust fund or lotsa help),
or you had a very non-traditional upbringing…or you suffered greatly early on?
Actually these questions are for ANYONE who would comment.
reo please give me some pointers souns like youre rolling congrats
No more 925,
Yeah I had a nice trust fund!! That was quickly spent for me when my family hit hard times! So before I ever touched it there was nothing left to touch! I droped out of high school at 15 and went to college! So I started with $20.00 in my pocket working thru college! Got a Job as a loan officer at 19! got a call from a guy that held a private second mortgage for a couple! they in turn did not pay the first I then got him $117,000.00 from a HML (hard Money lender) who loved the way I did business he taught me a good bit of the industry was learning alot from him he then passed away 4 months later! I lost almost 200k and of course his line of credit due to greedy family members in his family! Then over the next two years became homeless! living on the streets! at 20! Preaching investing to everyone well everyone that was in my click (all homeless) I turned it all around after sneeking into my friends back yard to take showers under his ice cold hose and changing clothes! I found work again and at 21 bought 4 houses all with cash back at closing at 22 bought more!! Anyway long story short at 30 I now cash flow at least 15k per month without working and triple that when I do! My advice is To all you newbes it can be done just keep looking reading and asking questions! I now am at a position in life where I have honestly moved homeless people into houses that I own and have taught them what I do! I have one gentleman that is now on his way to major success after serving 10 years at the local Department of corrections and becoming homeless after! This is not a easy task but it can be done! If you have good to decent credit it can be done in 2 years! if you have bad credit Like I did it took me about 6! so yes It can be done and NO I did not come from Money! If you want it bad enough I will help! You can’t help those that dont want it!
REOC,
You said you are set up as an S-corp, named “The people of Guam, LLC”. Is it an S-corp or an LLC? What state is it established in? Where do you currently reside?
Your story doesn’t sound very realistic at all. Provide some information to validate the claims you make before leading new investors in directions they should not be going.
buckeyes58,
Every house is in a different trust!! I currently live and work out of Colorado.
I would be glad upon request to supply you with addresses phone numbers photo copies of checks, Copies of closing docs. the number to my title company, my mortgage broker, My best friends number… as a matter in fact I will e-mail you all of the phone numbers right now!! call them please!! But keep in mind I really have nothing to prove to you! I will do it so you can get over the attitude!
Everybody please be advised the ball is in his court I did supply the numbers
REO
I would like to see those copies of one or two filled out contracts if you would. Please include the trust and assignment forms copies if you would. I believe there would be about 3 forms or so total?
I have yet to see any that have been filled out and decided that this is the are i willl concentrate for the first 2 years.
Thanks so much. I already have a broker - agent looking for properties that met my criteria which i developed by reading this site.
Hit me with a copy REO. Thanks in advance.
Steve
Re0-
I’d really like to believe everything that I read, but with the amount of fraudulent people out there it’s highly difficult. By no means am I saying that you havent accomplished such things…actually I hope that you have.
The real test is can you turn someone else into something…?? And boy do I have a great Canidate…lol! I’m looking for guidance and I’m exceptionally GREEN…! If you told me to sell…I would if you said hold I would…!..Actually…I’d like info and input on anything and everything…I’m a virtualy spounge…lol!
Good Hunting Guys,
Everybody please note Buckeye58 never called I will let you know the outcome!! If in fact he does!!
Hey Guys…I’ve spoke with REO on several different occasions…and the guy is legit…! Everything that he’s written and all the advice thta he’s given me and have actually worked…! He is very much a non-traditional invester…but he has ideas that can really set you apart from typical investors. Its so important to make your niche and your style of purchasing different from the next guys…being that the market is becoming highly over saturated with “R.E. Investors…”
Buckeye…in my opinion I’d really consider, making an effort to speak with REO, and see if you guys can feel each other out and learn…! The reason why I joined this club wasnt, merely to make money, but to meet people that can teach me things that I didnt already know…!
I’m not on the same level by no means as REO, however with his guidance and the knowledge of all you seasoned investors…I’ll be on my way…
Thanks REO…
Sam Williams…1hustleaway
Thank you for the kind words 1hustleaway I hope to talk again soon and help you get started!
Hello REO,
The forum really impresses me about your unique skills.
Thanks
J.D.
Hello, I saw where you are in debt over 11 million. I don’t have a problem with debt but how much debt can you have when you are investing in mult-family unit and single family. When do lenders stop lending you money when you start aquiring a lot of debt. Thank you, Patrick
REO,
Sound very interesting. I too would like to see some of those contracts and statements.
Thanks, Joe.