All Forum Posts by: Adam Mitchell

@Clayton W McGehee

Your plan is great for you. Buy a house for cash and then buy another one in 10 years...fast forward 40 years and you will have 4-6 rent houses free and clear. Not bad.

However anyone reading this Not want to be an average investor like Clayton learn how to leverage Real Estate debt. It is the only debt you should have and I agree with Joe....it is how you become wealthy in real estate.

@Cesar Mundaca

Dude just release them and move on. Focus on your marketing and don’t waste time with people like this. You will spend more time figuring this out and get no where rather than focusing on your MARKETING that will bring you deals. Im not 100% sure about Florida but what you are doing is not a felony in Texas. You are buying and selling the CONTRACT for the house (not the actual house). THATS HOW YOU KEEP IT LEGAL.

@Andrei Asorocean

I just saw your response to my first question. Do Not Buy a condo for your first investment. Everyone who responded is right the condo HOA will screw you at some point. Take a step back and look for a single family house in a modest working class neighborhood. Why this neighborhood? Because you can rent it regardless of the economy or current real estate market trend.

@Andrei Asorocean

2 questions. Is this your first investment property? Why are you considering a condo instead of a SFH?

@Hieu Bui

I agree with most of the comments but your rehab will be different depending on your plan to either rent it or sell it. If your selling it then by all means everything needs to be done, if your renting it you you may not need to update everything. For example if we are remodeling for a rental we paint all interiors one color...white. If we are remodeling for resale we usually do the trim and doors white and the walls something else. Either way take a contractor with you to look at properties before you buy. If you don’t have a contractor yet...put the brakes on your whole operation until you have a great contractor and a backup as well. Having your contractor in line is Hugely important to your success.

Hey Nik Id be happy to meet with you and see what we can do. @Jerryll Noorden is my SEO advisor and he is the best but wholesaling has more parts to it than just SEO. You need to learn a little bit about the whole process and others are right. The best way to learn is to Start! How do you start? Drive around an area you know well and find the worst house on the block. Those are the houses investors want. Shoot me your email and we can chat. 

@Dane Kania

I would not do this deal and continue to look for better sources for deals.

@Patrick Menefee

We see 1% rentals available in the Dallas area but they are generally off-market deals. 2% rentals are hard to come by and if you do find one it usually makes sense to flip it and take the profit.

We see 1% rentals in the Dallas area but generally they are off market properties. 2% rentals are pretty hard to come by and if you find one it generally makes more sense to flip it with the profit potential in it.