All Forum Posts by: Elbert D.

I'm glad there is a thread so others won't get hurt by people who try to take advantage of people. Actually, there should be a thread IMO about scammers who are wholesalers, GCs, hard money lenders and property managers. Or some kind of review system lol but I know that would take a lot of work to collect all that data.

so you wholesaled 10 properties? You said flip though lol.....were all your buyers in California? I noticed there are a ton of west coast investors looking to buy in the Midwest. I'm only asking because investors from California and Utah have asked me about the Illinois and Indiana markets.

Anyway, congrats you did a very good job wholesaling out there in California with a tough market and those expensive prices. Were any of your buyers repeated customers? If not that should be your next goal to offer true value and customer satisfaction for your buyers.  

@Carrie A. I hope all goes well and you find the right type of insurance for you...you have some decent options in Indiana...atleast your not paying these scammy type of prices of Illinois. 

my advice would be to ask a developer.....since you want to become a real estate developer....I want to become one too....anyway,ask of all the various paths and choose which one to go down. You could even ask them if they need help or whatever. Actually I'm going tag in one who's on BP. He's pretty knowledgeable. 

@Jay Hinrichs

I like Grant and he's funny as **** but I think it's like the saying goes different strokes for different folks. I follow him very closely and he says don't invest in real estate unless you have 100k and willing to buy large MFHs.....well that's one of many strategies.....if I'm not mistaken he didn't even know what wholesaling was.....it's obvious to see that Grant strategy is buy and holds. I never heard of him saying he did flips either.....atleast not from the memory. But anyway, Grant mentions when he first got started he got a SFH somewhere and he got pretty mad when they moved out and he had to pay the mortgage. Well immnot sure if he knew all the way what he was doing then.....because he said he vowed to never buy SFHs again.

I personally think you have to knkw what direction you want to go in and where you see yourself after 5 years. Think for yourself and figure out what's best for you not for Grant. And like I said I love Grant and I agree with him on some things like the government, taxes,the school system and some other things. But that portion of real estate I don't. And it's ok to disagree with people and still like them or portions of their ideologies. 

@Cal Rohrman well it's properties in that range all over the Midwest region. Not of that high of an ARV but Indiana specifically NW Indiana has properties like that. There is also some in Chicago too. Places like Dolton and Lansing come to mind. Which are both pretty decent areas. There are a few more but can't think of them as I write this. So those are just examples of places. I'm sure Minnesota and Ohio has some places like that too that aren't in high crime areas. You just have to know where to look.

the market is extremely dry right now. Not many good deals come up right now. The market is due for a correction this year or next year. 

that's awesome you guys got Porsches from real estate deals. I love the new  panamera turbo. I also love Ferrari 599 as well as the corvette zr1

Are you looking to flip or buy and hold in chicago?

Also to find that information out you go to the cook county recorder of deeds. 

 I just seen this thread. Thanks for the tag. I'll try to make it