All Forum Posts by: George Maka

@Whitney Moore Welcome! Bigger Pockets is a great start and there's a wealth of information to be found through the forums and blogs. I would say start there and educate yourself on the basics to build yourself a foundation. 

Asking for a mentor as someone that is completely new is difficult because value has to be added on both sides of the relationship. Any questions you may have, just feel free to go ahead and ask and we'll be able to help you out.

George

@Joshua Dorkin The old view shows that I have a new message in my inbox. The new view doesn't seem to show any alerts for new messages. New site looks great though!

George

@John Bentley Welcome! I'm a big fan of podcasts, so make sure to check a few of the real estate podcast as they are a wealth of information. Also, check out the locals real estate clubs and start attending those. I'm in the Orange County area and there's a few that I attend down here, so if you're interested in heading down this way, just shoot me a message and I can provide you the details. 

Remember, this is a people business, so always be improving your people skills and building relationships.

Best of luck,

George 

Congrats @Ryan Billingsley and sorry to hear about the let-down from the seller. That's ok though, this is a numbers game and just keep shooting those offers out and you'll get one soon. 

Best of luck,

George

@Steven Sandoval Bigger Pockets is a great start and full of resources. My advice other than read as much as you can, is to also listen to podcast. Bigger Pockets is a good one as well as Epic Pro Real Estate, and Sean Terry for wholesaling information. The more you read, the more you'll find what you don't know, so just stay consistent and learn something new everyday.

My next advice would be to take massive action. Finding leads is going to be difficult, so pick up the phone and start dialing to call sellers and just get used to talking.

Best of luck,

George

@Faiz Khan - use meetup.com as there are plenty of clubs in the area. If you don't mind driving down towards Irvine, CA, there's a club meeting on the first Tuesday of every month held by FIBI. Also, there's Investor's Workshop on the third Thursday of every month in Costa Mesa (I think, message me if you're interested and i'll get you the exact details).

Best advice I can give you is to just jump in. You'll be nervous and stumble, but nothing you won't be able to overcome. Put yourself in uncomfortable situations now and you'll force yourself to find a way out.

Best of luck.

George

@Adrian Zamora The 50% rule is just a quick analysis guide. When viewing properties, you use it to get a quick overview of whether the numbers work or if you should move on to the next property.

If you know the real numbers, that will take the place of the 50% rule.

George

@Joe Norman Put it in your contract. My contract has a simple clause that says;

Buyer may assign or otherwise transfer any of Buyer’s rights, title, and interest in and to this Purchase Agreement to a third party without the Seller’s consent.

George

@Account Closed

Don't bog yourself down with all these hypothetical situations. Your first goal question should be, how do I find motivated sellers. Once you find them and you find out what they're real situation is, then come back with that question. Once you're in that situation though, I'm almost positive you will find a solution, as that's how it just works.

My suggestion would be to just pick up the phone and start calling people on Craigslist, whether they are motivated or not. You'll get rejections and you'll feel stupid after a few calls, and if that stops you, then maybe wholesaling isn't for you. Bottom line is, there's no magic script anyone on here will be able to give you. It's all experience, and you'll get better over time.

As for tips on negotiating, there's a few good podcast out there. Just search the term "negotiating" and start listening.

George

@Reginald S. I don't know if I would go the route of saying "partner approval" but maybe say "subject to financing" or "subject to inspection" or something, therefore, the deal is contingent upon those factors. And if you're wholesaling, you want your contract to be "assignable" more than "partner approval".

George