I used to enjoy being a computer programmer. For the first 5 years of my working life I never once said “I don’t feel like going to work.” Even on Sunday night I would get excited about going to work Monday morning because I thought of a great way to implement user restrictions for one of my applications. Being patient with the users of my programs was easy and I would routinely walk by their cubical to see how they …
Gaining Experience with No Risk
This article was going to be about how to wholesale real estate with no money and/or bad credit but I quickly realized that there are hundreds of such articles out there on the interwebs. What I am going to write about is my plan for getting started with little to no risk. I myself am getting into wholesaling with money in my bank account and a credit score nearing 800 so I wouldn’t have a problem getting a loan. But …
Feeling a Bit Lost
The past week or two I’ve been feeling myself slipping a bit, or maybe it’s that I haven’t made any progress recently. When I feel in the action, is when I get a lead come in and I’m trying to find another wholesaler to bird dog it to. When I have no one calling I feel useless and don’t know what to do in order to get my phone ringing more. Recently I’ve been doing research on probate investing and …
Welcome To My New Blog
For those of you who have been following my old blog and participating regularly I thank you very much and I hope you find my new blog a welcome change. The reason for the change to a wordpress blog was because I wanted to offer more and the ability to have tabs (Home, About Me, My Blog, etc..) made the choice a no brainer. It also gave me more control over the look and design of the page as I …
Wholesaling Real Estate – Double Close
Part two of “Wholesaling Real Estate” will focus on the art of Double Closing. In the past double closing has been used interchangeably with the term simultaneous close, but over the past few years the two have taken on slightly different meanings. Even some others might use “Double Escrow” to mean the same thing. Who uses what and when all usually depends on the generation the investor grew up in, but it’s a good idea to be up on the …
I Choose…
I’m not sure why exactly I picked this house, but I’m going to be making an offer on the Mt Pleasant property. As you may recall it’s an Estate property (ties in nicely with the whole probate thing I’m going after). Has been on the market for 45 days, not long but they have already dropped the price 30k from the original asking price of 369k. So that is a sign of motivation I would say. The property is a …
Building Your Buyers List
Building a buyers list Your buyers list is you black book that you shouldn’t let others read. You NEED a good buyers list in order to be successful at wholesaling real estate. Think of it this way, how much easier is it to pick up the correct groceries when your wife gives you a list as opposed to trying to “think” of what she wants? Try the latter and it is a quick way to getting into a fight…haha You …
New Investor Guide to Success
Getting into real estate investing is a dream of many because of the financial rewards it can bring. In this article I hope to be able to point you in the right direction. A good base and support system are key to wholesaling/investing and below you will read about what I think are the keys to success. Lets get started… Like Minded, Positive people Surround yourself with like minded people. I want to say that first as it is truly …
Which House?
This week is going to be a busy one! My main goal is to pick out 1 or more of these 4 houses to make an offer on. Take a look. 3 Bedrooms 2 Bathrooms Asking 360k SOLD AS IS. LARGE HOME. SOLID MASONRY AND FRAME CONSTRUCTED. HW FLOORS. FRESHLY PAINTED THROUGHOUT. OVERSIZED 2 CAR GARAGE. PROPANE GAS FOR COOKING ONLY. GREAT INVESTMENT FOR HANDYMAN. REPLACEMENT WINDOWS THROUGHOUT EXCEPT LR. 1ST FLOOR DEN OR 5TH BEDROOM. DO NOT USE REAR …
Top 5 Questions About Wholesaling REOs
[ad#Banner1] Of all the questions I get from readers about the mechanics of structuring and completing an REO wholesale deal, the one I get asked most frequently is how to handle the closings. I thought I would post a few of the most frequently asked questions, in hopes that it would clarify the process for you….. Here we go… * Can you assign an REO? 99% of the time- NO. Most banks will have a clause in their addenda that …
Goals for week 6/8 to 6/14
Let’s review last weeks goals. Create Facebook Page – DONEI managed to pull this feet off. I did catch some flack from my friends because I’ve told them many times over that I will not ever create a facebook page because I’m not in high school. Well they will soon find out why I created it when it’s full of Real Estate Investing stuff. Not sure how it all works just yet but If anyone wants to send me a …
What Are Your Real Estate Exit Strategy Options?
[ad#Banner1] Before you ever think of buying a property for an investment you should know what your exist strategies are. If your plan is to wholesale real estate, then know who you are going to wholesale to. If you are going to fix and flip or rent then you should know that going in. So the first question you need to ask yourself is…”What are the exit strategies?” Here is a list of the five most popular exit strategies with …
What is The After Repair Value?
[ad#Banner1] A sticking point for many new investors trying to wholesale real estate is having to figure out after repair value (ARV). With out getting a good sense for what the house is worth in good condition, we will not know what to offer in order for us to make money. This is arguably the KEY to being a successful wholesaler. So how do you figure the value of a property? The first place you should go is your local …
What to work on?
I was reading through my daily blogs and came by a post by Scott Carson that listed the 10 traits a successful investor has as opposed to the 10 traits and bad investor has. Have a read… 10 Characteristics That Make Up Good And Bad Investors The one major characterisic that I must continue to work on is “to talk with other people”. I’m a shy and quiet person by nature and it has always bugged me that the simple …
Trick to Assigning a Bank Owned Property
In simple terms, you can not assign a bank owned property unless you get the permission of the seller and buyer. This is because banks put this into their contracts… “This Contract may not be assigned without the written consent of Buyer and Seller. If Buyer and Seller agree in writing to an assignment of this Contract, the original parties to this Contract remain obligated hereunder until settlement.” This doesn’t mean that they will not allow an assignment. On rare …