Books/Programs?

Question

Can anyone recommend a good, legitimate book and/or program on wholesaling?

Thanks!

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Account Closed · Answer

Are you saying she only has a course and not just a book?

My view is wholesaling is not all that complex so I would spend less and focus on a book.

Vena hosts a radio show on a public broadcasting station in the Cincinnati area. I pick up the broadcasts as podcasts. Use iTunes to find the podcast. Some shows are really dull or very specific to her market while others are very educational. You can almost guess by the title for the specific broadcast. She comes across as being very down to earth.

John Corey

Ryan Urban · Answer

Excellent John, thanks.

I've not seen a "regular" book from Vena, she has a program that can be picked up on Ebay at +/- $125.

I must admit the wholesaling process seems fairly basic. What interests me about the program is that it seems to cover my biggest issue - getting in front of motivated sellers.

I know there are several critical elements to this business, but it seems to me that the most critical element is getting any given property at absolutely the lowest possible price.  Assuming we can do this with any regularity, we'd keep some and sell others.

My biggest reservation is the flood of local competition we see, from ads in TV, radio and print.  That kind of thing doesn't scare me away, but it reminds me that we have to do this carefully and intelligently.

As always, thanks for your valuable advice.  I'll check in with my 12-year old to figure out the iTunes system!!

Ryan

N/A N/A · Answer

Ryan,

I think you are being a little to cautious and careful.  I think all highly successful people will tell you to take action and then correct.  There is very little legally you need to be concerned with with the wholesaling technique.  Most of the sellers you are going to work with don't even have a lawyer.  Also you will want to make small deposits and make your contract such that the only remedy in the case of default by you is your small deposit.  Get out there and take action!

Ryan Urban · Answer

Thanks Josh.

Agreed, paralysis by analysis is wasteful.  My only concern is legality, and I just want to be sure that the mechanics of what I'm doing are correct, whether it's wholesaling or subject to.

I understand the principles behind each technique, but the last thing I want to do is mess the whole thing up with ignorance.  If I go to a prospective wholesale/subject to buyer and I'm not sure about how to handle the process, I'll look like an idiot and the deal is toast.

I also don't want phone calls from lawyers simply because I handled the paperwork wrong and left myself legally/financially vulnerable.

Ryan

Anne * · Answer

I bought Vena's course and think it's great. Sure, the concept of wholesaling is not hard to grasp, but Vena offers some interesting tidbits about pitfalls from personal experiences. For the price, I think it's worth it, especially with new books in the $20 range these days.

Ryan --You should get Bill's course(s), if nothing else, just for the legal forms. We use his forms and have had no problem with them. You can probably imagine that Bill's a pretty busy guy, and I'm not surprised he hasn't returned your call. That being said, he is extremely helpful and personable.

Bill runs the CAREI group (www.carei.com). The main meeting is in Aurora, but they've had COS meetings for a while now. You just missed the monthly one in COS this past Tuesday. If you're willing to drive, there are two more coming up this month. Check the calendar on the CAREI site for details.

Best of luck with your new venture!

Ryan Urban · Answer

Thanks guys.

John:

I emailed Bill a couple of days ago and haven't received a response.  I plan on calling him today to see (1) if he can do Subject To closings or can recommend someone here in Colorado Springs, and (2) if he can refer me to a good local insurance rep who handles Subject To.

We're ready to get started, first thing is to get the team in place.

On the Wholesaling side, it looks like Vena Jones-Cox is the way to go.  I'll pick up her program.

Ryan

Account Closed · Answer

William Bronchick has a book out. As he is a RE investor and CO licensed/practicing lawyer it could be a great book for you.

Use Amazon to search for his name. You will find his books there.

John Corey

N/A N/A · Answer

there's an entire forum section on books/gurus/programs.  you should check it out.

N/A N/A · Answer

Check out Vena Jones-Cox and Steve Cook. Occassionally you can find deals on their stuff on Ebay. I got Vena's package there for $100.

Joshua D. · Answer

http://forums.biggerpockets.com/viewforum.php?f=79