All Forum Posts by: Brad Cook

I am looking at doing my first wholesaling deal I understand the process for the most part but have a few things that put me in a bit of a paralysis. I see wholesaling gurus say you can put anywhere from $100-$250 as the earnest money deposit, so my question is with earnest money typically being at minimum 1% of the price you get it under contract for, how can I negotiate the earnest money deposit with the seller to get it down to a $200 deposit?

And I ask because I do not have the capital to put 1% of the price down for the deposit and to be completely honest I'm afraid to try to put a property under contract if I don't have the  earnest money deposit to send to the title company.

-TIA to any tips, info and/or advice given on this.

I am out of Houston and the surrounding areas

I understand it might be cliché, but I am looking for anyone to help me learn the ins and outs of wholesaling, I have watched tons of videos and read articles and I don't have anyone who doing or even knows what wholesaling is. Any advice, tips or DM's are greatly appreciated and TIA.

That is one thing I am learning as I do more research and ask more questions. I know it's pretty rough right now for the most part, and if I can make it happen when it's rough times, I should be able to do well when things look up.

I have been looking into a career change, and unfortunately with my financial situation I am unable to jump into REI. I have been doing research into becoming a loan officer to learn the financial/loan side of REI while also having a stable income to start my investing journey, but don't have the loan/banking experience that most banks or mortgage companies look for when hiring either an assistant or LO, if there's any info or advice as how I can get started or what to look for when searching for a job in this particular field.

I appreciate you ensight and will look more into what you have mentioned. My main focus for right now is getting my first deal and creating enough cash flow to quit my W2 job, because this is what I'm passionate about and interested in. I just don't want to dive in head first without the proper knowledge and plan.

That makes sense. I do plan on having rental properties, but I've been trying to come up with other strategies that can turn a profit in a shorter time frame.

I've been doing as much reading, listening and educating myself on real-estate investing and one of the strategies I really lean towards is house flipping. So, my question is should you rent the property after rehabbing and then flip after the time frame so you will not be taxed extra?

With interest rates being as high as they are is it better to find an investor with the money upfront who won't charge an interest rate and collect a quarterly dividend from the cashflow? I am still learning so if my understanding or terminology is wrong please feel free to correct me.

Just recently found BP while watching videos on YouTube, I am just starting out and want to make sure I get the right education and knowledge before trying to jump into any deals. Any help or information is much appreciated.