All Forum Posts by: Douglas Christian

Totally agree with previous comments and to add they can foreclose in many states if you do not pay or fall behind on your HOA. So basically if you have an unforseen situation and can not pay the HOA, they can foreclose on your property that you are paying the mortgage on every month.

Most investors want to have control of the situation especially if they have a mortgage on the property. Now if you can pay CASH and get it free and clear then I would say go for it.

Curt I would say that 90 percent of my business comes from relationship and repeat customers and them telling someone else about how I conduct my business.

If you have been following the MADOFF SCANDAL they said that there was only an elite group that was allowed in to invest with MADOOFF. But, how that elite group was established was through the wealthy telling his wealthy friend and that is how they got in. This is what the MAYOR or EX MAYOR of Fort Lee, NJ was saying that he was referred by his wealthy colleague and that is how he got in.

SO RELATIONSHIP IS THE KEY.

I do not mine helping. The only problem that I see is that you are in Raleigh and I am in Charlotte.

But, you can call me and I will give you as much info as I can.

Douglas

I am a wholesaler in Charlotte. The best way to determine if a property is to be torn down is to pay for a home inspection. This way you everything that is wrong with the property and you can pass that on to your buyer.

If it is not structual then just estimate the value with contractors and put a package together for your investor.

Many wholesalers will not pay for a home inspection, but I do so that I know what I am getting and what my investors are getting.

It is money will spent. It costs between $250-$350.

I agree Richard because reading all of this lets me know that he does not know what he is doing. First if he has it under contract for 30-60 days which is my normal contract with sellers, why is he concerned about giving out the address. He is going to have to let people know where to go and see it so that they can do there due diligence.

You never sign anything stating that you are going to pay someone before you see and examine the product.

This individual needs guidance on how to wholesale truly. No pictures and no info on the property says to me.

NO DEAL.

Congratulations Andrew

Where is the property? Give us more details on your first purchase. Great job and are you going to rent it or what?

I would go by my property and let him know via letter that we are doing a annual inspection!!!

Then I would evaluate the property and take notes. See what you have to do is create a relationship and not a hands off type of atmosphere. If the neighborhood was so bad you should not have purchased the properties.

Also I would alert the police (annonymously) as stated previously. Have them be more of a presence in and around the house.

I would also redo my lease and make sure that all the pertinent info like if the police have to be called to the residence then you will be evicted. Drugs or any harmful activity on the property will be grounds for eviction.

Listen this is your property, but what I am hearing is that you are afraid to go to your own property.

I would take my money somewhere else where my risk is less and my gains are greater.

See it is not about the high end properties or the higher end markets. It is about making the most that you can from your investment.

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Douglas
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Amen, Mike I am one of the fortunate ones that have been doing this for over 6yrs and it has not been easy, but it truly as been FUN. The good out ways the bad, but for all of you who paint the picture of GET RICH QUICK, you are barking up the wrong tree.

I encourage each and everyone of you to take your time and build up your wealth and increase your knowledge. I am in the field and on the phone and traveling, but my life is what I have always wanted it to be, but I am comfortable, whatever that means.

I am living the American dream the way I envisioned it to be. Start by buying a buy and hold and learning how to manage that property. Learn all the laws and learn your area.

I tell people all the time I do not know everything, but that that I do know I know it WELL.

Congratulations on pulling the trigger.

Now, fix the property and rent it out. Then after about three months go to a small bank in your and and get a equity line of credit on the property and do it all over again.

This gets to be fun if you buy properties right and stop trying to flip. This is not the market for that. Right now is a buy and hold market.