All Forum Posts by: Michael Giamanco

Just so those that are curious know, I put up 100 signs in about 4 hours. I was by myself so if you have help you can probably get this doen in half the time. I was lugging a ladder around and fumbling with roofing nails and hammers. But it was fun and a good work out at the same time. I felt like a bandit at 3:30 AM running around hammering up sings! lol

Well haven’t got a motivated seller yet but I did generate a cash buyer!!! Called and said he will be buying multiple properties this winter and to give him a call if interested in flipping him some deals. Nice to have on my buyers list. :D

Hahaha...thanks Peter that's what I was looking for. I will be getting out there this Saturday morning so I can find me a deal. Short term goal is to get a deal done in the next 30 days so I can prove to myself it can be done.

Thanks for the motivation.

Hello BP experts. I finally received my bandit signs and I am planning on getting them out there this weekend. I got a standard purchase and sale agreement after joining Steph Davis' blog the other day. Thanks Steph.

I guess my only concern at this point is whether I should get out there and hang these signs before talking to a lawyer about this contract. I have heard of purchase agreements written on napkins holding up in local court here so not sure if my fear is warranted.

Does anyone know of any specific requirements in California that I need to worry about, or is the contract I have good enough? I can PM the contract to anyone willing to look at it and comment.

Thanks, :idea:

Thanks everyone for the words of encouragement and the links to the other threads. Everthing discussed here is part of my burning desire. Each step is an intermediate action related to attaining that desire.

Update...

Bandit Signs...Check
Business Cards...Check
Website....Still looking to this but will probably set up a wordpress site until I figure it out.

Anyone have a P&S agreement legal in California? :) Chris, yes I will be focusing on the San Diego area for now but OC/Riverside Counties are only footsteps away so I may look around up there.

Thanks

I will earn $25,000 a month wholesaling real estate deals. I will allow myself one year from my birthday to achieve this goal. I will give my children a home of their own and something to inherit when I pass on. I will give my wife a sense of financial security and well being. I will put in the hard work and persistence to achieve this goal. When I achieve this goal I will dedicate myself to investing in real estate full time as my livelihood. I will repay all of my debts public or private with this money.

I plan on doing a number of things to achieve this goal including Attending local Real Estate Investment Club meetings. The first thing I will gain from these meetings is to attain a valid purchase and sale agreement that includes an assignment clause and a 30 day inspection period. I will make sure that this contract is legal in California by retaining a local real estate attorney to review this contract. My other aim in attending these meetings is to find and meet like minded people who are doing what I want to do. I will learn from these people how to complete my first wholesale deal. While I am there I will also look for buyers who would be interested in attaining properties below market values with a reasonable assignment fee to be paid to me.

This Friday I will purchase my business cards stating that I buy houses and I buy them fast. I will hand these cards out wherever I go and place them in any business that allows me to put them there. I will also place my order for bandit signs this Friday. Once I receive the signs I will hang all of them the Saturday of when I receive them.

I will build a quick website this weekend that promotes my business. Once I secure some signed contracts I will also promote my deals on my website. I will carry a pad and paper everywhere I go. I will get a mileage log so that I can write of my REI mileage at tax time.

Other things I plan on doing to attain this goal is to post ads weekly on such websites as CL or BP stating that I sell properties below market value. I will consistently post these ads to generate more leads in attaining my goal. I will call “we buy houses†signs whenever I find them to determine if these are other wholesalers or rehabbers looking for deals. Rehabbers will be added to my buyers list, wholesalers will be asked if they can pass deals on to me if they are not interested in them. I will contact “for rent†ads and find more investors to add to my buyers list.

I will earn $25,000 a month wholesaling real estate deals!

Thanks everyone for the warm welcomes. I have been driving around for about an hour a day writing down the numbers of the "we buy houses" signs. I am going to call all these guys and find out who's a rehabber and who's a wholesaler. Hopefully I can start building some sort of buyers list over the next couple of weeks before I place some signs.

I did post an add looking for people who want to buy "properties below market value" and have gotten a few hits on that including a Realtor who says he "works with investors," kinda curious about this guys intentions. :) So I have put some wheels in motion and will continue to do so until I reach my initial goal of closing my first wholesale deal in the next month.

Thanks for the encouragement and ideas. If anyone has a P&S agreement they would like to share it would be greatly appreciated.

Thanks Again,

Mike

Hello Everyone,

Wow...this website is amazing. It is full of so much information it is hard for a person like me to digest it all. i just want to keep reading.

I have been studying rehabbing, and wholesaling for about the last six months and now I believe I am ready to at least go out and start finding deals. I am a firm believer that if I find good deals there will be no shortage of buyers looking for such deals.

However, I do have one investor willing to bankroll a rehab if I find a good deal. I was raised in the constuction business so there is no shortage of qualified people in my circle willing to do some rehab projects.

My biggest problem right now is finding a legal document that is legal and binding in California. I have read that paying a RE Lawyer to create my contracts is the way to go. Can anyone recommend a good one here in San Diego that wont break the bank?

I plan on utilizing Bandit signs in the unincorporated areas of San Diego so I shouldn't run into too many issues with the sign police (maybe some PO'd homeowners in the area with shotguns--->I'll take my chances). I have read that most of the beginners out there are having success with the signs.

So, here I am. Jumping into it. nothing like hands on learning! Thanks everyone in these forums for all of the wonderful information you have all posted. I look forward to posting details of my first deal in the next few weeks.

Wishing all wealth and prosperity,

Mike