All Forum Posts by: Joseph Caracappa

Brandon Burrell I want to start by saying there are a lot of people on BiggerPockets that are more qualified to answer your question.. also when it comes to dealing with family it's a hard one for me, because everyone has a different situation! For example I love my mom a lot! But I would not start a business with her, because we just don't see eye to eye on so many levels! Also when it comes to back taxes I do not have the expertise to give you solid advice. With that said if it were me and I had to have the house I would try maybe something along the lines of having your mom seller finance the property (your mom becomes the bank). Find out how much is owed in taxes and find out if they would be willing to accept monthly installment payments on the money owed. (Don't know if it will work? But worth a try..) Again my knowledge on back taxes is next to nothing! So you will have to figure out a solution to that problem.. at the end of the day if you can afford to get in, fix the tax problem and fix it up. You might be able to refinance down the road a little get you mom paid back and have yourself a rental.. Try to find someone on this site that has knowledge on back taxes and see if they have any pointers.. To your success bud!!!!

Brandon Burrell I don't know if am following you here? You want to purchase the home from your mom? What is your intention with the house? Fix and flip? Fix and rent? Fix and live there yourself? Is it your moms primary residence? Dose she need cash from the sell to purchase another home? Dose she have equity or dose she owe more than the house is worth? What are the repairs needed? How much is the house worth now and after the repairs are done? Are you emotionally attached to the house because it has been in the family? I don't expect you to answer any of those questions online, but there is simply not enough information!

Brandon Burrell unfortunately most lenders are going to want some skin in the game! Even hard money. Not to say it can't be done, but every lender I have ever talked to wants something to show them if things go wrong you won't just pick up and leave. Also assuming you could get a 100% financed deal, how would you cover the holding cost with no money/reserves??? Private money might be an option? If you know someone with a big chunk of cash. And they have a ton of faith you know what your doing? Maybe raise a little bit of cash from family and friends, SAVE your money! And build a reserve! No matter what road you go down, just keep in mind that your dealing with large assets and big money (sometimes other people's hard earned money)! It is so very important you know what your doing! No matter how easy real estate investing is portrayed to be! With that all said if it's a real deal and you will not be denied, I am sure you will find a way to make it successful! To your success bud!!!!

Eric L Walker all I can say is do your homework before using a family members cash!!!! Flipping is not easy like it's portrayed to be! Before I managed projects for a flipper, I used to think it would be easy! I have been a carpenter for most of my life, so how hard can it be? Buy a house for X amount, fix it up for X amount and sell for huge profit!!! Bam we are in the money! Haha boy was I wrong!!!! There is soooooooooo much that goes into a successful flip! Not trying to discourage in any way, actually it is the exact opposite... All am suggesting is know what the heck your doing before risking anyone's money. And if you already have a good idea of how it all works, then go all in!!! Make sure your investors get paid! Even if that means you don't make a dollar. To your success bud!!!!

Kat Williams you don't need an online course to teach you how to build a buyers list.. it's called networking your butt off! Find 2-5 guys or gals who really buy houses, and become an asset to them! Learn from them and grow and expand from there. If you have 5 investors that buy 5 house a year, well you have 25 opportunities a year to capitalize. It's about networking and building long term relationships. Look you can go out build a large buyers list if you please, all I am saying is you don't need some online guru crap to teach you how to go out and tell people what your intentions are. To your success!!!!

David White I want to start by saying I am not a wholesaler. This is what I have learned, building some large 100-300 people buyers list is crap! That's all internet, guru, marketing junk. Any great business is built off great relationships! You need 2-5 real world investors, and a relationship with those investors. How do you find them? Hit the streets! Look for people doing large rehab project (large 30 yard dumpsters are a dead giveaway). Hop out and introduce yourself and tell them what you do. - little tip: you can look for ran down properties at the same time. Talk to any real estate professional you can! Keyword alerts on biggerpockets. Have your market(s) as a key word alert, when you see someone looking to buy in that area jump on and introduce yourself. Again you only need a few REAL buyers and your in business! Learn from your buyers, ask if you can walk the properties, see what they are doing, ask questions, learn the numbers they use, the streets the like, how they like their coffee! Network! Build relationships! Repeat! FIND a way to bring value to everyone you come into contact with, and over time (years) you will have a big business! To your success bud!!!!

Stephanie Bailey welcome to biggerpockets! It's a great place to learn! You already have some education and experience in management, so that will help a lot! I am in the north bay as well. I wish the best in your investing in-devours! To your success !!!!

Matthew Bonds congrats on hustling at such a young age! I love to see people making cash in non traditional ways, especially 14! I am not sure about Texas law? So I cannot help you there. But I can say where there is a will there is a way! And I am sure you will find your way! Keep hustling! Keep grinding! Be patient! And you will have a great future! To your success bud !!!!

Ivan Larios welcome to biggerpockets bud! It's a great place to learn! Real estate can be a great business! Pick one path, master it, stick with it, fall in love with the process/journey because it's a long one!!! Your young so time is on your side! Run hard everyday! But be so very patient! Any business takes years to become really lucrative and real estate is NO different! Just some pointers that I wish I would have truly embraced when I was 20! To your success bud!!!!

Kate Robinson this is kinda a hard one, on one hand I think if you had an extra $25,000 to throw around you guys could use it towards your first purchase/down payment money. On the other hand if this course is the only way for your husband to get some traction and get going, it might be worth it? I know nothing about the company you speak of except that 25k is a whole lot of money if you are uncertain in any way! My own personal opinion (form an unknown guy on the Internet :) is save that cash! If you guys are going to invest in real estate, pick how your going to do it? Study for free! And then get out there and execute!!!! You can pay someone 25k to teach you how to ride a bike, and they might give some wonderful pointers/insight. But at the end of the day your never going to truly know, until you get on the bike get your cuts and bruises and keep going! This is not a fact, but if I had to guess there are a lot more successful real estate investors that built their empire without some 25k guru course than there are. Hope it all works out! To your guys success!!!!