All Forum Posts by: Blake Reynolds

@Dezel Jones

Welcome to BP! I am a new member as well from the Twin Cities area.

A good idea for connecting with other investors in the area would be to attend local REI meetings. They are free to attend as long as you register and I believe they are held on the first Tuesday of each month. Just Google search it and you should be able to find a few meetings or organizations.

@Darrie W. Bennett

Thank you for the advice! 

I am planning to attend one of my local RI meetings soon. I hope that will be a big step towards making some connections with investors in the area. 

@Elliot Smith

Thank you, that makes a little more sense now. 

So does the earnest money go to the current homeowner once the contract is signed or does it go to the closing company?

OK. So I have been doing a lot of research and reading on wholesaling. I have not yet done any sales or assigned any contracts. I have been trying to get as much information as I can before I actually get into it. 

So my question is this:

What happens after you get a property under contract. I understand that you need to then find an investor buyer to assign the contract to but I have noticed some mention of having to send the contract to a Title agent or having it in escrow.

What is that process and what is the meaning of escrow?

Also what happens if you get a property under contract but you cannot find an investor buyer for the property? are you then liable for having to purchase the property or is there a clause in the contract to avoid such an issue?

Well initially I have always had an interest in the concept of owning real estate as an investment. So that's what initially drew me towards the topic but I think for myself, the overall end game I am looking for is a means of financial security. I want to be able to retire early so I can spend more time doing the things that I like to do and not have to worry about where I am going to get the money to pay my next set of bills and so on.

Hello Everyone.

My name is Blake and I am a newcomer to the site and into the real estate market.

I recently graduated from college with a Bachelors degree in Biomedical Science and I am really interested in getting more involved in real estate investing. From what I have read from some of the research I have done it seems that Wholesaling would be a good entry point into the market to help build some capital and gain some experience in the market.

I guess my main question / concern is where to start? I would like to mentor with someone in the area who knows the business but I am not quite sure on who to contact or what avenues to explore to find someone willing to be a mentor.

Does anyone have any experience or suggestions or Ideas on where to start?

Thanks!!

Blake