All Forum Posts by: James Clark

@Lari A.

Yes I would check everything!

Your job is to be the best, the best wholesaler knows everything about the property.    

@Lari A.

Sounds like a home run :), have you checked to see if there is any liens on the home?

@Lari A.

Do you have a buyer lined up? Why is the property marked so low? Have you done any remodeling before, to give you a trained eye for repairs?  

@Michael E.

requesting income and expense data. For me getting the numbers first before I waste time going to the property. You can stay at home and get the numbers. Your not really wasting anyone's time. If the numbers look good then go to the property and do more research. I think that's what your looking for 

@Tanya Stirler

It sounds like you have been to some classes or seminars, great job on taking the first step. You are really not likely to find a realtor to spend the time to help you, they have people call them all the time saying I'm investor bla bla bla. I'm not saying to be mean but just think if you was a realtor and you have people all the time saying I'm an investor and I buy house so you like ok you find great deal you call and nothing. Sooner then later you be like not going to waste your time with people like that. But if you have a good track record and dealt with other people that are investors then yes a realtor with help you out in a heart beat. I would not focus on a realtor or even deals, I would focus on people that you want to be like or become.

In South Dakota you need to have a license to whole sale, I have looked into it for a long time, I talked to the real estate commission and other investors. Its just best to get your license. 

I think we have a group starting up next mouth, I well keep you posted with the date and time.

I went to a Rich Dad seminar couple of years ago and I got a lot of info but they hyped it up. You have to learn the process first from others, I would really learn from others first before you go any farther.

Hope that helps or gives you some insight or I could be really wrong and you already know all this..:) 

@Devon Morgan

do you know if you need a 

real estate  license ?

@Jacob Casarez

The other post are wrong.....really really wrong. Please don't do what the other posts had said.

Live below your means...WOW.....How many people try to live below their means and come out a head 

You can move fast in real estate. Think about what's stopping you from going forward right now.

You need a team to move fast, get a team that's on the same page as you are. A team can get more done in a day then just you.

Money should be not a problem, if you think you cant buy a investment because you don't have the funds, then I'm sorry you are going the slow and steady pace. Don't get me wrong you can get out the rat race in the next 10-15 years but who what's that.

That's why you see people that are investing but still have a 9-5 job they are going the nice and slow pace...

 expand your means!!!!!!

I would read...a lot....

That would tell you what you need to know. Some of the books I have read are

1. abc's of real estate investing by ken McElroy

2. Rich Dad" series

3.Investing in Real Estate with No (and Low) Money Down by Brandon Turner

I have read a lot more but this should get your questions answered  

@Account Closed

A great broker is going to empower you with training and knowledge so that you can grow your business.

If you have bad agents maybe your a bad broker....Food for thought

@Jessica Sander-Cederlof

First what type of property do you want to flip? House, apartments, duplex's 

What's the price rang? you can flip a 30,000 house or a 1,000,000 house

Do you want to flip for a rental or resale? So in most cases that comes down to the neighborhood

Write a plan down of what kind of property you want to flip, then you can narrow it down. 

 don't look for a for sale sign. Find the properties that look like a great flip, write the address down and find the owner. Then you call and ask.

You: Hi my name is ------- I was driving by your property on (give the address) and it fits of what I'm looking for, have you ever thought of selling it.

If they ask why be honest, tell them your plan maybe they wanted to do the same thing but do not know how or the funds.

I also look for rentals, I drive or look in the newspaper and look for rentals, ones that are not property managed and ask if they would sell or if they have any others for rent they don't want or handle.

Your goal is find ones that are not out for sale, in most cases if you find one for sale when you are driving around another investor has looked at the property or a agent called one of there investors and said I have one that just got on the market before the for sale sign hit the ground.  Don't get me wrong you can find good flips when they are on the market, its just harder to find.

I would try and be on the list of people that the agent calls

Don't get discouraged, its not easy but when you get a flow going it gets easer

Hope that helps