All Forum Posts by: Jake E.

welcome Jim we wish you all the best in your endeavors! 

Rich, the key here is transparency. If you are doing a wholesale deal then that means you are actually taking title (closing) at a discounted price then taking it back to buyers at a higher price. If your intention is to assign the contract then let them know what you are doing because more than likely they haven't a clue on how to move it fast and wouldn't mind you doing it anyway, but still let them know so you won't run into problems. 

@Justin Greenthanks for sharing your story, it put a smile on my face! it reminds me of a quote that I heard.........I think it was Darren Hardy. "We don't own success, only rent it, and the rent is due everyday!" Have a great year and keep hustling man. 

@Tea DoggettYou can do this but, I would recommend that you get your experience state side first. There are not that many moving parts to a real estate transaction, they key is just getting yourself along the flow of cash as it reaches its final destination. What you are looking for is a joint venture or JV which would allow you to work with someone else in a remote location. Wish you the best!

@Rod Desinord press on my friend because, as mentioned, this business is full of shadiness. It doesn't mean that we have to be shady, but it does mean that we must get good at recognizing the smoke. I believe this is what @Bill Gulley was referring to in his post and I know that we must all learn to deal with this stuff daily. Keep pressing!

Its a long journey my friend, so be sure to make your first investment in education. By that i don't mean guru courses but instead read great books like the ones already mentioned.  Personally I like to go back and review "building wealth one house at a time " by John Schaub.  

You certainly won't learn it over night but you should spend every night learning. This is a copy-cat business but make sure that the cat you copy knows the business.  Learning from others helps to collapse the time frames that are required to succeed. Have fun and find your niche, for everyone has a favorite area to work in. Best wishes friend!

@Aaron H.if that title company makes it difficult to make the transaction go through, then find another one that will make it work. If you will be doing this often then its good to have a few title companies that you use. We use Millennium title out of Dallas and they reach out and make it happen. You probably have one near you that will make it work quick. Try your local REIA, they should know someone that does this, Best wishes!

@Rumen Mladenov I agree with @Bill Gulley, the money to be spent should be on go-getter attorneys. Don't try it any other way. It is basically a decision to be made though, so don't let it each you up either way. I know that we often don't like to hear this but the greatest thing that we get from such cases are the priceless lessons. We take this incident and make the best changes possible in how we do things so that it may not happen again. There are no guarantees but there certainly is a continuous refining process that takes place in our business that helps us to make it just a little bit better each day. You just got stronger Rumen, I wish you the very best man!!

@Jordan B. I just like your way of thinking brother. No, I'm not currently operating debt free but surely I am working on getting there. Thank you for the inspiration but more importantly thank you for bringing that Word!

Dona

I think you are on the right track by educating yourself in the industry as a whole before you make any decisions on which way to go. There are just so many ways to go in real estate that I think that you just have to find your niche. There are a lot of great podcasts on here that you may want to listen to but other than that just network with others that have done some house flipping before you make that move. 

Remember to exercise caution when looking for "the quickest" way to make a profit. I'm definitely not say that there aren't a ton of ways to make a profit but usually when WE as investors look for the quick, we find it in lessons that are priceless. Due diligence, hard work, and perseverance are the ingredients that you must not go without. Have a great time and I truly wish you the best in selling your house for a great profit this spring!