All Forum Posts by: Account Closed

Newbie investor here. No deals under my belt yet. However, even though I intend to wholesale a few of my first, I have intentions to buy several properties with intentions of leasing them out while they build equity. The ones I buy for myself I intend to be much more selective. Ok, so I hear lots of talk about similar intentions, especially in my local REIO. Now, I have never been a landlord, but that is basically what you become when you lease a property, correct? How does one handle tenants and the problems they sometimes bring? Do you get someone to service the properties, or do it all yourself?

Can someone point me to some reading material/links/books etc?

I suppose what im wondering, is how is leasing any different than renting? If so, then how? Or is it just a different name for the same thing? At the end of the day, you are becoming a landlord. If you still have a day job, like myself, how in the heck do you respond to issues with your properties? Take calls from tenants?

If anyone is in the Fort Worth area, and wants to brainstorm and share ideas, please contact me. Im mainly interested in wholesaling at the moment, but also looking for small fixer-uppers that I can buy myself. Im pretty new at this, so if you are too, then lets share ideas and help grow each others business! You can email me directly at [EMAIL REMOVED]

If so, what are some things that might trip up a newbie? What if I have found a REO and have a buyer in mind that is intending to use a hard money lender. Do those work too?

Im looking for info in my local area on past sales. What sold, for how much, time on market etc. Where would I start looking?

Before you got started wholesaling, how many buyers did you have on your list? At first, I want to wholesale only, then buy the properties myself for rehab and selling to the retail customer or those looking for a property to live in.

Im a newb, but ive been doing my homework. Ive done the following:
- researched my area, learned the streets etc
- joined a local REI / network group
- added 3 investors to my buyers list
- got my signs ready
- researched the good places to place the signs.
- got my website up and going.
- made contacts with a local title company

Am I ready ?

Now that's probably more accurate. I'm a wholesaling newbie, but I suspect that is what generates a lot of this opinion-based comments from realtors.

I plan on trying to have some good realtor contacts that I can send clients and have them send some my way as well. If someone is wanting near retail price for their place, then I will send them to a realtor, and homefully the realtor will send their seller my way when they exhaust their options instead of just letting the bank have it. I fully expect however, to run into the occasional relator that is hostile to what Im (starting) to do.

If a potential seller calls you can is desperate to get out from under their house, but has already listed it with an agent, what are you options? The seller really wants to move fast, and maybe a few weeks or months have gone by, but the listing agent still has the property in mls etc. What has to happen for you to put the house under contract?

Im wondering about the same sort of thing, form an investors point of view. I mean, what are the odds that a deal can be profitable on a short sale when you have to deal with a 2nd mortgage?

Ok, so what do you suggest ?