All Forum Posts by: Cameron Ellis

Can I list a property on the MLS before the deal is fully closed? I'm purchasing a property from a private seller from my direct mail campaign, everything is ready to close but we are waiting until after the holidays to close so my team and start work immediately. But in the mean time can I would like to list the property as-is to see if I recieve any offers before I start work...

Can this be done? But more importantly is it legal, I fully disclose in my contract that I am an investor and my intentions are to either flip, hold, or lease the property for profit 

@Account Closed sure shoot me a Pm with your email

@Eric Baum I spoke with a VP of acquisitions at one of the largest REITS currently buying, and they are moving to start acquiring in Birmingham at the beginning of 2015, and I'm sure they will bring more players along with them. Maybe a good time to get in and start buying before prices sore like MemphisMemphis

Thanks @Curt Davis I will try to get over this this week..

I took a couple to craig with your company, never heard back from him on the ones I sent over so just limited the list to the guys I've closed deals with before.

@Jade Davis staying consistent in your marketing, you ability to recognize deals, and not being greedy some deals I cut 1k checks, some I made up to 15k. Having good buyers, is also a key... But staying consistent in marketing is key, I send out 20-30 letters at a time appx 80 pcs/mo which usually gets me 1-4 deals if not more. I slowed down on mailing in July to focus on another niche which had a effect on my wholesaling business

I've been looking online getting ready for tax season, and I'm having trouble identifying if I will be taxed under a real estate dealer. I've wholesaled 30+ transactions this year using assignment contract, wholesale-flipped 4-5(brought and resold as-is) and have 3 under holding currently that I will rent out, one that may be owner financed. will the IRS identify me as a real estate dealer?  

I deed everything under my personal name, and a partner. I've done a couple deals within a property trust. 

I see the taxes would be a lot higher under a real estate dealing my reason for asking.

I did 34-38 wholesale deals my first year in business, way more than I anticipated.  I slowed down from wholesaling in July and August but I have plans to do at least 60 next year in Memphis and the Houston market. 

I would have to agree with dean here, I would call 230 tops here. After you figure in holding cost, closing cost, renovation, and taxes your paying retail. 

@Sam H.  A lot of properties never make it to the market they are simply sold via text message & email now. Germantown isn't discounted as much because it's know to wholesalers and investors as a retail area. As for Cordova, those deals are still out there. Feel free to PM me, and tell me exactly what your looking for and I will help you out.

@Erica R. My IG name is [REMOVED], all the good real estate names were takin lol! 

@Kerry Baird not to many sellers, but I hooked up with some buyers in other markets. AZ, CA, TX, FL markets seems to have a lot of investors on their. 

@Account Closed  I didn't think of it until I posted a photo with a hashtag with real estate on IG and things started to flock my way.