All Forum Posts by: Dan Schwartz

Chris, thanks for this advice. I absolutely agree. Should be coming down to Memphis in September for the Mastery event, so looking forward to meeting you!

You all are too helpful, thank you! Luckily, we do have a pretty rock solid operating agreement in place.

Any suggestions as to the best way to structure an owner financing deal? How much to put down, rates, etc.

Sean, thanks for your recommendation, I know you're a good guy so I trust it!

Michael, shameless plug for YellowLetterMail here...but my phone has been BLOWING UP! In fact the reason for this post is because of the campaign you guys ran for my business. Too many leads to handle honestly. Time to get an answering service...Thanks again for providing this quality service.

I think I'm at about 5% response rate so far but leads keep coming in...

As for Joe's program, looks like I'll soon be a follower! I already have something under contract so I don't want to make any mistakes moving forward.

Eric,

That's awesome it's been working out for you! I actually just jumped into this strategy myself and got something under contract here in Baltimore to see if I can't make something happen with it.

Any suggestions on where to start looking for some tenant/buyers? Or better yet...where to find the good mortgage brokers that would be willing to work w/ us?

Thanks for the recommendation!

-Dan

Pleasure to finally be a part of the BP community.

I'm currently over a year out of college and since then have built up a full service wholesaling operation, completing about 15 transactions thus far.

It seems every time we make money, we seem to spend it almost immediately on marketing and education! My business partner and I are now trying to save up to purchase our first rental and start building a portfolio to help us leverage ourselves into more investments as well as increase our passive income stream.

Any advice would be much obliged. If you live in the MD/DC area, shoot me a message or give me a call to chat at [REMOVED].

Cheers,

-Dan

A lot of the leads coming into my business would be perfect for Joe McCall's lease option strategy.

Wondering if anyone has any insight as to how this strategy has worked for you in your business. Also, if you have the course, if you'd be open to sharing/selling?

Thanks all!

Props on starting to invest right out of college! I am doing the same thing. Personally, I wouldn't want to get into any more debt w/ a mortgage on an investment property so quickly. I'd get a little more creative and try to structure some owner financing deals with the local FSBO's in your market. Some sellers may be willing to structure ideal terms for you to increase your rental cash flow if you are indeed willing to put down a fair down payment.

Personally, I wouldn't set up an LLC until after your first flip, UNLESS your first flip was an REO, in which case I would create a shell LLC such as "123 Man St. LLC," sell that LLC, then use the money made from this assignment to create a legitimate entity to structure your business and open up a separate bank account.

Sorry for the run on sentence, but that is exactly how I've done it...Good luck to you!