All Forum Posts by: Anson Young

 
Focus on finding deals, anything you do WITH those deals can come second.  If you want to flip, build, buy apartments, whatever, get good at finding deals and you will succeed in all of those areas!

Andy, it was most likely Upwork.com that he used.

Tony, I go with the first option, ONLY because at that point I'm not sure if I will buy it to flip it, or buy it to wholesale it.  Also, since I always double close, I'm ALWAYS the buyer on the property, so there is never confusion.  I might sell it 30 minutes after buying it, but thats my business, right?  :-)

Alice, just be aware of who you are partnering with, and make very clear who is doing what.  Strong expectations up front can save a TON of headache later, clearly drafted partnership agreement is a must as well.

As far as split?  Well, thats 100% up to you and your partner.  Typically it would be a 50/50 split on work and funding, but everything is negotiable!

Austin, Welcome!!  You should absolutely be taking action now, doing anything you can to hone your skills while you wait to make your next move.  Whether is analyzing deals, walking properties, getting ideas on repair costs, networking, reading, listening to podcasts...  @Craig Curelop's book on house hacking is awesome, if thats going to be your starting point!  

Kristi,

This is a great method for sure!  As a wholesaler, I always think of my deals in three categories:

1. Deep discount - fix and flipper
2. OK discount - landlord / wholetail
3. Not good enough discount for fix and flip or landlord - wholetail

So, the value to flippers or wholesalers for a buyer like you is to capitalize on more leads that come through, by wholesaling to you at a price that works for you but might not work for them, they still help the seller and make some money in the process.

Merry, definitely a partnership agreement.  Preferably one that was drafted with a lawyer or looked over by a lawyer to make sure everyone is protected.

I JUST opened this, and Dan and AJ beat me...  

Zach, 

It can be tough to break in to a hot market, for sure!!

To answer your direct question, there are SOME wholesalers who allow different financing types, BUT its very uncommon.  Maybe a wholesaler who is wholetailing the property, buying it and selling to a private owner like yourself, they are more geared towards your situation for sure.

Buying directly off of MLS can be tricky, there are some tricks you or your agent can try. I'd start by pulling properties that are under contract that match your property criteria, dont be afraid to reach out to those listing agents and ask them to let you know if the deals fall apart for any reason. It can be a way to get a look at a property BEFORE it goes back on MLS. The agent does NOT want to lose the deal, so they are more willing to work with someone who will pick up the ball and carry it for a touchdown.

Tyler, across most of CO, we are in a seller's market.  Inventory is low, prices are going up, etc.  This typically means deal scarcity for most investors.  This also means a ton of people want to get into real estate, jumping in.  I'd say its a pretty normal split, wholesalers trying to wholesale, and flippers trying to flip.  Nobody would know the actual percentage split, but its been this same way since the market turned and tightened up.  Competition is high right now for sure. No matter the market conditions, there will ALWAYS be people trying to get into real estate by wholesaling...

That said, if you stick with getting good at finding deals, it does not matter what you do with them, as long as you can find them.