All Forum Posts by: Dustin P.

@NIcholas Hamel Here's a fun exercise:

Set your MLS criteria to show every property in your city that has been purchased cash within the last year

Go through those properties and see which ones were purchased by LLCs (Aka it's an investor who bought it)

If there were no deals on the MLS then every one of those investors just made a mistake

The MLS is a tool just like direct to seller marketing, pocket listings, foreclosures, etc. You can find deals there just like everywhere else. You may just have to offer less than asking (or more than asking) to get it at a price where it makes sense.

All cash

$5k non-refundable earnest money released directly to the seller as soon as it hits title

No inspection period

7 day close

3 hour response time for the seller

Assuming the seller has the equity to sell at where you are offering, check in with the agent every week. If it goes under contract, call and ask what their inspection period looks like. Call as soon as it falls out "Dang I saw that went back Active. Would the seller be willing to reconsider my offer?" As a last ditch effort, see if the listing agent is willing to lower their commission to get the deal done.

At least you have the other two coming. It sounds like this guy wouldn't have been a good fit for you anyway

@Lydia R. I agree it's not free but it is less than $2,000 at least in my state

I also agree, you shouldn't get into it until you have money, but I think getting your license is the first logical step because it's something that you'll be able to earn money with right away, which can then lead to the ability to do wholesale transactions

Plus there are plenty of wholesalers that are licensed and wholesale properties off the MLS as well, so it's another deal source

I wouldn't venture into wholesaling if you don't have $2k to your name - Not to be rude but money is definitely necessary to do it successfully

Why not look into getting your license? You can earn some commissions working with buyers / sellers and save up to cover the costs necessary to get into wholesaling effectively

Hey @Justin Ellis

I can take a look at it for you if you want to send me a PM

I didn't even get one on my primary purchase, they are fairly worthless IMO

@Charlie Helo I just wanted to clarify, I know nothing of Norada Real Estate Investments, so they may be a great turn-key provider. I was speaking more in general terms of looking at the trade off of finding properties yourself vs. going through a turn-key operator for rentals (Or going through a wholesaler for fix/flip properties would be a similar scenario). 

I think you just have to see them for what they are. You typically won't get as good of returns compared to finding the property yourself. But then again, do you have the time/energy/skillset/money to find the properties yourself? That's the question

You'll get marginal returns, but better than no returns

@Wislem Leger

I may have an interested buyer if you want to shoot me a PM