All Forum Posts by: Christian Kenworthy

@Elizabeth Martinez It depends on what their situation is. Wholesales really only work when there is a decent amount of equity in the deal, which I doubt if they're going under a foreclosure. Do you plan on performing a sub 2? I wouldn't suggest door knocking, it's kind of tacky and not to mention pretty time consuming. If you want to get into wholesaling, your money is gonna be made from advertising and half of that is from following up with people who deny you. Here are some deals you could do depending on different situations

pretty house little equity ----- > buy on land contract-cfd, wrap, sub2, lease option and assign.

pretty house and alot of equity

----- > sub2 and note-mortgage, land contract-cfd, wrap, lease option and assign.

ugly house and alot of equity ----- > wholesale - straight option, buy w private funds and resell, buy with hard money and resell

@Aquila Oliveira Have you considered paying her off? Sparing $500 for her to get out by the end of the week would put you on a hell of a lot better terms than after another 3 months of eviction waiting, I know you're a little far in the game, but then you can focus on getting a better tenant in pronto. 

Welcome!

Originally posted by @Cody May:

Thank you @Account Closed for your advice! I think you misunderstood a little bit of the post. I work out of a distribution I don't work at just 1 certain I deliver to many Dollar General stores around the Indiana, Illinois, Wisconsin, and Michigan area. I really want to get out of the trucking industry asap. I don't like never being home and ALWAYS being by your self kind of sucks after awhile. So once i quit my current truck driving job i do not think I will be getting another one. Then that brings me to the financing part of what I want to do. It would be very hard to find a lender willing to lend to me. I would defiantly need all my financing taken care of before I was to move. I haven't been to big on getting my RE licences. I just don't feel its necessary. I think I would be able build a strong relationship with a RE Agent. I have been learning quite a bit while i have been driving. I been religiously listening to Josh and Brandon's podcast they are great I'm always able to get a ton of information from there interviews. Do you know of any other good RE podcast you could recommend to me?

 episode 48 is pretty good, and Sue is just saying you might be able to stay with the company or a neighbor company if you decide to move which would keep your monthly income. Maybe your boss can recommend you somewhere out that direction? That way you wouldn't sacrifice time on your mortgage although you might have to settle lower paying job like their freight crew for a bit.

@Cody May Hey if the numbers make sense, it shouldn't be a problem on a renter's perspective ESPECIALLY if they're getting a good deal. So just make sure when the time comes to do your due diligence and buy right in an area that works. 

And if it's change your looking for, I agree with @David Faulkner in his aspect of getting roommates. I just moved from living with my parents in Arlington, Texas to living with a boatload of roommates in Salt Lake City, Utah.. and you wouldn't believe the amount of connections you can make just by surrounding yourself with people everyday, especially new people (Go to REIA's). I pay like $100 a month.. that being said, I was able to land a part time job where I only have to work 2 nights a week.. I'm able to work on my business 5 days a week without sacrificing my "crutch" for income.

My bottom line is I can't stress enough about surrounding yourself with people who invest on the daily. You don't necessarily have to change locations, but if you want to, who do you know? Who can you meet out there?

Hope this helps!

Can someone explain the term "seasoning the deal," when it comes to double closing on a wholesale?

My mom and I recently attended the rich dad introductory 3 day seminar, their pitch to begin training under their ultimate elite pack is about 50k.. Has anyone here been through that program? We think we want to do it but with my mother's credit, we don't qualify for financing. We're talking about liquidating her stocks (about 12k), and other things like applying for title loans on our vehicles... What can we do for creative financing? Is this a good idea?

Hey what are your opinions on Zillo? Is that something a lot of you use, or what are some of the best ways to find great listings?

So a lot of people are telling me that a great way to start investing and practice land lording is to own a duplex and rent the other half out but people are making it seem like you can get free rent out of doing so... I don't understand how this works or why someone would agree to pay under those conditions, can someone spell it out for me? 

Thanks! @Paul Timmins I appreciate you all for taking time out of your day to help a newbie! I look forward to hearing more from you guys!