I have watched what a new investor can go through. My friends bought a small apartment building in a lower income area. The headaches - druggies with guns, kids that ruined brand new carpet & appliances, single moms not paying rent & you see three small children & feel awful evicting them after six months not paying. I watched them really going through a lot with their ‘investment’. After 4 years they sold it...made 10k but it wasn’t worth the hassles.
Great conversation! So glad JL shared his story. My first real estate venture I got mixed up with a group that did a similar thing in Indianapolis - sold D/F class properties to naïve investors, never rehabbed them or did so sparingly, then took that money and paid investors “rent” to keep them buying more (most of my houses never had tenants, plenty of squatters)Set myself back for years but recently crawled out of it. I have been so embarrassed to admit the mistakes I made, but JL wasn’t ruined by it. He still turned out to be really successful and I will be too.
Being forced to close escrow is a joke if the seller ends up selling for more to the next buyer. Ask your lawyer but if they are not damaged, they have a problem suing you.
I really enjoyed the 1st 20 minutes of this guy's story this guy's story and think it's important that people realize thatt real estate is not just a short term or a 2 or 3 year investment but one that might last 10 or 15 years. What I don't think is a fair representation is why he complains about having to pay for a property whose accelerated depreciation gave him benefits then complains later...
Mention to the boss back there what funding you have on the table and I match it. I will need that first item picked maxed. 1guy will pay. Paid card no limit. Watch by the business of the card I choose. I look for future involvement for my involvement with this web location. Hopefully no trouble was cause. Thanks for the time that you will spend behind scenes. Thanks.
I have watched what a new investor can go through. My friends bought a small apartment building in a lower income area. The headaches - druggies with guns, kids that ruined brand new carpet & appliances, single moms not paying rent & you see three small children & feel awful evicting them after six months not paying. I watched them really going through a lot with their ‘investment’. After 4 years they sold it...made 10k but it wasn’t worth the hassles.
Great conversation! So glad JL shared his story. My first real estate venture I got mixed up with a group that did a similar thing in Indianapolis - sold D/F class properties to naïve investors, never rehabbed them or did so sparingly, then took that money and paid investors “rent” to keep them buying more (most of my houses never had tenants, plenty of squatters)Set myself back for years but recently crawled out of it. I have been so embarrassed to admit the mistakes I made, but JL wasn’t ruined by it. He still turned out to be really successful and I will be too.
You will be alright in the end prudence
You will be alright in the end prudence
It sounds like Jim lost money to a scam. Not to real estate.
Just love when JL is on! Great convo guys!! 🤩😍
Part of real estate research should def be reading your First Time Home Buyer The Complete Playbook to Avoiding Rookie Mistakes book!!!
Where do we get the book?
Being forced to close escrow is a joke if the seller ends up selling for more to the next buyer. Ask your lawyer but if they are not damaged, they have a problem suing you.
I really enjoyed the 1st 20 minutes of this guy's story this guy's story and think it's important that people realize thatt real estate is not just a short term or a 2 or 3 year investment but one that might last 10 or 15 years. What I don't think is a fair representation is why he complains about having to pay for a property whose accelerated depreciation gave him benefits then complains later...
Mention to the boss back there what funding you have on the table and I match it. I will need that first item picked maxed. 1guy will pay. Paid card no limit. Watch by the business of the card I choose. I look for future involvement for my involvement with this web location. Hopefully no trouble was cause. Thanks for the time that you will spend behind scenes. Thanks.
The noise stud has to go! Can’t watch, gives me the creeps.
Interview to long. Get to the points would be nice.
Always enjoy J. L. Collins. Very good information.