The value of CASH!!!!!

[Hoosier4life2005]

Im a saver. lol

[fdjake]

Javipa,

I wasn't implying that you don't support people who purchase your coarse....and I do understand completely your point about using leverage in real estate investing.

I enjoy reading your posts and I think you offer valuable insights.

I just didn't think calling savers LOSERS sent the right message to people that want to get started in this business.

But in the end....I'm glad you are here and look forward to reading more of your posts.

[furnishedowner]

Someone who CAN'T save money or manage their own finances would have zero credibility in recruiting investors to fund their deals, in my opinion.

Someone who has never even done a personal deal, with their own money, also has only book-learning, no practical knowledge.

I am concerned when I read "If you don't have money, do lease-options, use hard money, partner, use other people's money."

Maybe I am a wuss, but I wouldn't even have been able to talk the right talk with an investor if I hadn't ever done anything myself.

fdjake's advice is right for 95% of beginning investors--save your money so you can do a deal and make more money.  Money makes you money.

Javipa's advice is right for you incipient mini-Trumps who are ready to jump in the pool without waterwings.

My advice is the same--first figure out how to get a tenant to pay for the roof over your head so that you are not.  If you are an investor, invest in yourself, not in your landlord's property. This is EXACTLY the right time to make that first purchase.  Make it count.  And save your money.

Furnishedowner

[Hoosier4life2005]

What investor would possibly put up 30K on a investment property that I wanted to buy.  I just turned 20, have no financial history of doing anything, but yet, they are going to put their money on me?  I doubt that, and it wouldnt matter how good my "talk" is.   I could get a note on a house or something then quickly sell that note for money, yeah, but as far as a investor putting money down for any costs, I dont see that happening,until I would have proven myself.

[REIER]

Well, javipa has STILL not answered my question on HOW some "loser" will allow someone with a poorly thought out business plan (yes, lease option is a poorly thought out business plan, along with buying a rental with 100-200 dollars a month cash flow and no cash reserves also a poorly thought out business plans) will allow a new investor to just go out and blow their money? Let me guess, you take over the home owner's payments and you lease option it out to a sucker, I mean a lease option tenant who will just keep paying every single month and take care of every repair that comes along. Then, they will just magically qualify for a loan and cash you out. GENIUS!! Or, go out and buy 10 rentals in vegas, AZ or florida, using OPM and wait for that appreciation (not anytime soon)while you rake in the big bucks, while ignoring the fact that there are thousands of other properties for rent on the market.

I bet it's all in your "coaching", "training" "book" or what ever else you are pushing to noobs who want "push" button easy cacca. 

I'll say this again, YOU NEED YOUR OWN CASH TO INVEST ESPECIALLY AS A NEWBIE!! There are NO shortcuts.

Written by someone who purchased his first property in 1998, Investing since 2003, made many mistakes by owning "leveraged properties"and has no signature line pushing newbies to a squeeze page promoting coaching, and I guess a loser and a flamer. 




P.S. You may want to check up on the latest FTC guidelines about income claims on sales pages. Wouldn't want those guys knocking on your door and slapping you on the hand with a hefty fine (yes you will need CASH!!!) I hear it's no fun. 

[javipa]

Well, javipa has STILL not answered my question on HOW some "loser" will allow someone with a poorly thought out business plan (yes, lease option is a poorly thought out business plan, along with buying a rental with 100-200 dollars a month cash flow and no cash reserves also a poorly thought out business plans) will allow a new investor to just go out and blow their money? Let me guess, you take over the home owner's payments and you lease option it out to a sucker, I mean a lease option tenant who will just keep paying every single month and take care of every repair that comes along. Then, they will just magically qualify for a loan and cash you out. GENIUS!! Or, go out and buy 10 rentals in vegas, AZ or florida, using OPM and wait for that appreciation (not anytime soon)while you rake in the big bucks, while ignoring the fact that there are thousands of other properties for rent on the market.

I bet it's all in your "coaching", "training" "book" or what ever else you are pushing to noobs who want "push" button easy cacca. 

I'll say this again, YOU NEED YOUR OWN CASH TO INVEST ESPECIALLY AS A NEWBIE!! There are NO shortcuts.

Written by someone who purchased his first property in 1998, Investing since 2003, made many mistakes by owning "leveraged properties"and has no signature line pushing newbies to a squeeze page promoting coaching, and I guess a loser and a flamer. 

P.S. You may want to check up on the latest FTC guidelines about income claims on sales pages. Wouldn't want those guys knocking on your door and slapping you on the hand with a hefty fine (yes you will need CASH!!!) I hear it's no fun. 

I have no idea how a "loser," as you've put it, "with a bad business plan" can accomplish anything. much less do a lease option. 

I don't sell lease/option information, much less teach "losers" and would have no clue where to start.

You would guess wrong that I "take over payments and lease option to a sucker."  

The remaining portion of your post is off topic and I might be happy to respond on a new, dedicated thread, but not here.

Meanwhile, I wish you well at whatever you're trying to accomplish, and would look forward to hearing of both your progress and successes at saving lots of money, doing lots of deals, and making lots of money.  

  

  

[REIER]

I don't sell lease/option information, much teach "losers" and would have no clue where to start.

You would guess wrong that I "take over payments and lease option to a sucker."   

I suppose the "sub2" portion in your domain name, you redirect to, is no indication you are involved with lease options and taking over an existing note?

Come on man!! 

Meanwhile, I wish you well at whatever you're trying to accomplish, and would look forward to hearing of both your progress and successes at saving lots of money, doing lots of deals, and making lots of money.

And I'd like to hear more about all the money you are making with OPM and not having to worry about the consequences when deals go bad.

[javipa]

I'm happy to consider responding to a new thread, unless you have the intention of continuing to make it an attack or something personal. 

Meantime, why not follow your own advice and then show us how it's done, since you believe you offer a better way?   

Frankly, I'm not an expert debater, and don't pretend to be one here.  So, if that's your deal, I'm gonna be an easy kill. 

That all said, tell us what you've been doing.  I've already shot my wad here with my examples.  I'm open to have my mind changed.

[REIER]

Still no answer to the question I asked twice. Again, how do you suggest people with a poor thought out business plan use OPM and not have to worry about the consequences? You are the one that went on a rant about people who save cash are losers and are living behind the times.  Forget?

Saving cash and using it to purchase RE (and other tangible goods) at a low price and then selling it at a higher price to someone else allows me to get bottom dollar pricing (as long as the seller is in a desperate enough situation and mindset forcing them to take my bottom dollar offer). My cash allows me quickness and the ability to obtain below market value RE and just about any other tangible items by having it available. By putting MY money on the line, I make much more rational and careful decisions. 


My initial reaction to your post was due to you making blank statements about people saving cash being “losers” along with your underlying notion that people who don’t have a penny to their name come out all rosy and peachy. That’s fantasy island talk! The truth of the matter is, that island was destroyed and tattoo hopped on the first plane out! The danger in your advice, to less experienced people reading your opinions, can be financially disastrous.