All Forum Posts by: Dustin P.

What % of your investors do you see actually taking this method and applying it to their own purchases? It seems like the model requires you to have a steady flow of newbies willing to come in with cash

0.7% is more likely

Sourcing distressed deals either by yourself or through a wholesaler is another good way

Auctions are pretty packed, get bid up pretty far and a lot of times you aren't able to view the property beforehand

I would keep saving, 10k isn't really enough to get a meaningful start IMO unless you plan on wholesaling

In my opinion, I wouldn't look to get into flipping without having stable income first. There are too many things that can go wrong.

I would work on making as much as you can with your current skill set and save as much as possible. Use your free time to learn and look for deals. See if you can "bird dog" for a few investors / wholesalers. You won't have the knowledge right now to understand what a good deal is, and you don't want to lock a seller up with a contract that you don't plan on closing or know for a fact that an investor will close for you.

As you learn more and as you save, you can look to get into a deal on your own down the road.

Congrats guys! Sounds like a great deal

Builderz warehouse is good, desert liquidators, sale sumo, stardust 

Lots of good information here already. As said the 1% rule is way too arbitrary to be used. I don't see the point of even using it as a rule of thumb. You're going to analyze every deal individually so why would you use the 1% rule to shortcut anything? In Phoenix your chances of buying a house that meets the 1% rule is almost non-existent, yet many investors are still buying here.

I would suggest looking into Scottsdale and Tempe, AZ.

Low property taxes, values have been steadily rising, lots of events with high demand for short term rentals (Spring Training, Waste Open), lots of snow birds, ASU students, etc.

There are some HOAs here that can be a pain would be the only negative IMO, but there are also plenty of properties in non-HOA areas

Great job!

Is the realtor just forwarding you properties that have had their listings cancelled and you are going through and calling all of them? If so the work they are putting in is pretty minimal (Basically just setting up a search/subscription and the MLS does the rest) so the compensation should be pretty minimal.

If it's a property that has just been listed awhile but hasn't been cancelled/expired yet then they would just be compensated from the seller via the buyer's broker commission.