All Forum Posts by: Account Closed

@Account Closed awesome resource, thank you! I will keep it handy to look for all other deals. 

Jessica, you are so right. I have a very successful business. How much money would I accept to cut my business in half, or by any percentage? I don't think I would do it for $100,000.

I read about these people paying big bucks for "GURU, "Mentoring", and I shudder.

I'm going to give you a big VOTE for sanity. Yes Jessica, the Emperor has no clothes.

Part of it is because they do want to teach people, but they also make some profit from doing seminars, writing books and making a profit from that, and doing pod casts to make a name for themselves.  Their name is a brand and that's one way of making money.  They tell you all the things that beginners don't know, but never the real nitty gritty details or tricks they learn along the way, that they keep to themselves. 

The other reason is that people who are learning are beginners and pose no real threat to them as they are only entering the market with limited funds that will just get a few properties.  This will actually help them as these people entering the market will improve the property and force appreciation, in turn it will raise the property value of the properties in the area, thus increasing the value of other investors properties that they currently hold. 

Jessica,  

My nephew, that I has wanted to start investing for years, just bought a rental in Danville.(I may have already mentioned it to you). 

Over the last ten years I have told hundreds of people what and how I do what I do. I would like to say that I have created a bunch of competition for myself, but not so much has happened. Most listen and they just don't get it. They are too concerned with making a living, I guess. 

I even have expanded our local Landlord Assoc. Into a REI association. Every month I have guest speakers and then I talk for 30-40 minutes about REI. Free info.

I have been investing for 11 years and am more pumped up about it today than ever. I, like most investors, like to talk about real estate investing. I don't think I will create much competition for myself, but if I do, good for them. 

I know an older gentlemen in our town, and he started buying during the crash of the 80's. He has hundreds of SFRS. Every time we get together, we have great conversations about owning houses and what a great wealth building tool it is.

I imagine the only competition to worry about is the Chinese, there are a billion of them,

Here's the deal about wholesaling only business versus being a transaction engineer

wholesaling only means that you're looking for C and D neighborhoods with a huge amount of work in order to be able to buy a $.65 times ARV

Getting a buyers list together were you know what they want to buy and how much they want to pay and where is really important wholesaling which most wholesalers don't do

If you did that you could go hunt for them and maybe the cash buyers would buy a few at a time

Now I refer my marketing not to be we buy houses, any condition, for cash fast

But instead...

Landlords do you have problem tenants not paying fast?

Homesellers is your agent not performing?

Do you have no equity in your home but you need to sell?

Is there a divorce and you have no equity?

Did you inherit a house that needs work?

We offer unique solutions that include lease purchase where you can make more money by leasing out the property and getting cashed out on the road

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Wholesaling only model, without doing a cash or terms presentation to the seller, I think is not the best model , especially for rookies

The nice thing about subject to, wraps, and lease options is you only need a willing buyer and willing seller to get the deal to work; no banks, no credit, no Hardmoney or private money, no contractors, and you make the money fast, like in 30 to 60 days.

If you master seller financing, helping the sellers sell on terms, you'll make money faster and when wholesale deal comes by, you can write up the contract and try to sell it, and if you fail, your cash flow still okay.

The buyer was a Chinese development company. I don't know what their intentions are with the property, but I've been shown a few drawings my friend had and they were of a luxury condo tower. The air rights were needed to get the extra floors. I think it was 60 or so high.

As for your next post you wrote, I bought 8 rentals this year and never stepped foot in a bank. You need to study a little creative financing. Seller carry back is how I got most of my rentals. It's not difficult, but it takes understanding of the numbers involved in holding and managing rentals long term.