All Forum Posts by: Jacob Bunce

I did manage to have someone contact me, and I hope to be meeting him soon. He is a local flipper who also whole-sells willing to show me the ropes as long as I bring business to him. 

I have already started to 'driving for dollars' but the properties that I THOUGHT were vacant don't appear so when searched online, so I can't wait to meet up with him and get some tips, one on one. I learn much better seeing/doing, and not just reading about it. 

If anyone has any suggestions on how to meet up with a mentor, please share. Or share how you met your mentor, if you were fortunate enough to have one. 

Is FMSN worth the investment? It is crazy expensive, but seems to be really simple. I am going to do the free seminar, assuming it is recommended. I don't have that kind of cash at the moment (seeing as we will be putting money down on a town-home soon) but would if it is as good as some of the testimonials around here say. I would have to make a deal using listability first to raise the money for it. 

 I know I wasn't the OP, but thank you so much for this link. The will help me out tons. So you just pay for the information that you would like (house address, loan amount, market value) and you get a huge list of all the owners?

 Does listability.com do what I think it does reliably? Are there any other sites like this one? Seeing as my eye isn't trained yet for 'driving for dollars' I could really use a site like this. I could NOT thank you enough. 

Now, I'm new, so I probably shouldn't be giving advise BUT BP did a podcast were the guest had a list of pre-foreclosures and went knocking on doors. In this guest's case, he worked out a short-sale with the bank that allowed him to buy the property at a pretty good price. I believe this was the one at about the 13 min mark. 

http://goo.gl/9S6LLR 

If you have any questions about me, feel free to ask. 

Hello, My name is Jacob and I am new to the entire real estate business. I have spent the last couple weeks watching videos, listening to podcasts and reading forums about real estate. It seams that many people start off with whole-sales, and that is my plan. How-ever, I still need someone in the area to point me in the right direction. If this is the incorrect forum to post this in, I apologize, and will refrain from posting. 

I know that having a mentor is a give AND take relationship, and have no problem splitting any deals that I complete with my mentor. I want to start making moves and hit the ground running. I am young, smart, and willing to work hard. The process I understand, of 'driving for money' to bandit signs (which are completely illegal here) but would still like a kick in the rear to get me going.

Is there anyone in the area who could use a future whole-seller? Investor, whole-seller, flipper or landlord, anyone who could teach me the business would be my first call when I do get a good deal one day in the future. 

Thank you for all the advice. I will be following this advice.

However, just as an update, got the Realtor's opinion on the property, along with taking a look at both, and neither are feasible.  (the 75k property was on a great plot, but may as well be bulldozed) The Realtor also did some comps on the duplex and the number for rent in the area were way off from what I was able to get via google, which leaves the property at 30$ cash-flow... Yeah, that is out of the question as well.

We did find a nice option that just came on the market. It is a nice town-home in a nice area renting at 1100 a month... Going to look at that ASAP. There wouldn't be too much equity build up tho. Would have to save up a bit of money before even thinking about moving on. 

Also, wouldn't I still end up with 2 mortgages? What would the difference be, aside from the dates being a bit further out? Just focusing on getting the good deal now, and getting a rental property at a later time? (once again, only shop for deals...)