Posted 11/14/2010 3:08 pm
It all started a few years ago when he started posting on www.7summits.com (username trunl) claiming he was 15 and was going to:
- climb the 7 summits
- reach both north and south pole
- and climb all 14 8000meter peaks
...by age 20. He's 21 now, and has never climbed ANY mountain.
Posted 11/14/2010 3:41 pm
first the BS about becoming a world record breaking adventurer, now he wants to:
"In my own words...
I am a 20 year old who is just getting into the Real Estate game. My office title is Assistant Real Estate Agent. I work at a real estate office with 5 other real estate agents and a broker and basically upload/edit pictures, input data in MLS, execute property searches, do advertising, etc.
I am looking to get started investing in real estate, as I would like that to become my full time job. I am always looking for a mentor if you know any!
Real Estate Experience
Work in a real estate office dealing with multiple listings and closings.
Real Estate Goals
2009: Buy a duplex, rent out a side and live for free in the other side
3 years: Buy another duplex for cashflow
5 years: Sell both to buy a small apartment building
Currently Seeking
A mentor and/or good deal on a duplex in Austin, Tx"
Posted 11/14/2010 7:08 pm
Sounds like Jeff Wittliff (austin, texas) is showing a little hustle and making a life for himself. Why are you bringing this here?
Posted 11/14/2010 7:20 pm
sounds more like:
a) he is full of shit
b) he's looking for a fag sugar daddy (calling it a "mentor") to fund his gay condo plan
Hustle? sure, bet he's not achieved any of the goals he's set for himself.
Credibility doesn't come from making promises or setting goals, but from actually delivering on them
Look at some of his posts: he wants to buy a condo, have the bank fund 80% and the seller fund 20%... and he's left wondering why he can't get funding!!
Posted 11/14/2010 7:24 pm
"I am a 20 year old who is just getting into the Real Estate game. I am looking to get started investing in real estate, as I would like that to become my full time job.
Real Estate Goals
2009: Buy a duplex, rent out a side and live for free in the other side
3 years: Buy another duplex for cashflow
5 years: Sell both to buy a small apartment building"
This is insane! 5 years ago this would have worked, now, it is suicide!
That is the description of the first job I ever had, at age 13.
Except they gave me more responsibility than that. I typed up listing agreements, offers, contracts, etc. also (on a typewriter! whee!). I got paid $8 an hour cash under the table since I wasn't of age to legally work yet, which was pretty good in 1988.
If I were doing that shit at age 20 I'd fucking kill myself.
"Hi everyone, I would like to start by thanking everyone for participating in this forum full of knowledge. I have been lurking here for the past few months, and finally decided to start an account.
Some background: I work as an Assistant Real Estate Agent, which basically means I need some classes, and a certification from our local board of realtors, but can't really help clients all that much. I am basically stuck to uploading/editing photos and listing that our agents at the office bring in, and inputting them in MLS and our various other websites. The great part about this is I have MLS access and can search anytime I want! I am only 20 years old so I am reasonably happy with where I'm at for the job part, but I really want to move forward to a full time investing career and I know that it can happen!
The problem: My short term plan is to buy a duplex in my area, rent out one side, have a roomate or two on my side and live rent free for a few years, sell it (or refi) and do it again. I am planning on doing this FHA and do have about $8000 saved up, and plan on doing it before this December (so the government will pay my closing costs with the $8K tax credit). There are plenty of affordable (my range is about $150-175K) duplexs in the North Austin area (where I am located) and most of them even have the other side rented out at market rate. My only setback is getting the loan. I have a good credit score (722), but my income is only about $1900 per month, so obviously my DTI will not work, even though I have only about $700 revolving debt as my only other debt (which is paid in full every month). Any suggestions please?
Sorry this was so long! I am an eager learner and looking for a mentor, so let me know if you know of any good ones. I fully expect to be a full time real estate investor within 7-10 years and would appreciate the help getting started."
Posted 11/14/2010 8:47 pm
"I have found a commercial property where the owner is willing to finance 20%. My question, as I am unfamiliar with commercial properties, is whether a bank will accept this, or will they require the money down to be directly from me?
Just to be clear, I'm trying to get the bank to finance 80% and the owner the other 20% (or 75% and 25%)."
