All Forum Posts by: Jason Smith

@Victoria Daley Great to hear you are very serious on finding a mentor. I would suggest not exchanging money for their services only until you have vetted them properly. We live in an age that real estate education is a very lucrative career. I have to include BP in this discussion as well. Making sure that they are “active” investors and what they are teaching has to match their actions as well as the time. I started back in 08 when the RE education business began more “business” than actually teaching folks how to find, fund, fix, and then flip. Today it’s more analytics and how to push that message to the masses. I am not bashing the “real” content creators just stating the facts about the others. Real mentors that is pushing good quality content are the ones you should align yourself with. If you decide to pay someone, ask if you can shadow them to see how the day to day is as a RE person.

Happy Hunting

Welcome to the BP family @Tae Kim you will find that many folks on here are very helpful in seeing new investors succeed. I am in the lower part of Michigan (Kalamazoo to be exact) and would be glad to assist you in the areas that you are lacking in. We have a lot of hot deals in this area of Michigan (Specifically rentals) that has cash on cash returns reaching 21% conservatively. If you have any questions regarding the temperature in the MI and the OH markets ( I am currently working in) don’t hesitate to ask.

Happy hunting

@Narayanan Krishnamoorthy I am glad you are interested in investing into The KAlamazoo area. I am not to familiar with that realtor that Dave recommend but some areas of the city has great cash on cash ROI that some realtors are not really savvy on. I have been investing since 2008, we have seen the fall of the local area as well as the rise that is happening right now. If you would like a better understanding on how the market is doing in some of this areas send me a DM. BTW many realtors around hear (not saying Dave's guy) like to take advantage of people from the west cost because the market here is very affordable versus where you are...just my 2 cents on the matter

@Narayanan Krishnamoorthy

@Miranda Simon I would make sure you verify all parties that is going to be involved in the transaction...make sure the seller is the seller as well as the buyer is the real the buyer...to many folks out hear “playing around” with peoples time and it must stop...so my advice is “trust but verify”

James Green “always vet the other wholesaler” You should always vet anyone you are dealing with as well as a lead you are considering on pursuing. As far a “daisy-chain” haven’t heard this term since 09/10 of the Bulk REO/Note era when folks were trying to shop packages around that has been sold (my product included) if you have more that 3 people involve it might not be a good enough deal. “How do you know if they have it UC? Simple...just ask the person/get a copy of the PSA. Listen, I have wholesale over 300 spreads ranging from 2.5k to 15k and my biggest one off Deal was 77k. I say this to say...networking is the core of this REI game if you don’t do it it feels very lonely at times. Trust is also important in this business as well...this industry is very small when you Separate the doers from the pretenders...I agree with James on this issue I just think its common sense to vet everyone when doing business not just wholesalers specifically

Elliot Lamson I love the book Owner Will Carry: How to Take Back a Mortgage Without Being Taken by Bill Broadbent I started reading this book when I was 19 and it got me stared in the note business...and it’s great for rent to own just for structuring a sound contract and if you need a bit more of capital you can sell to note buyers

KIMARD EGLETON The question is, is he selling the entire package? If so, figure out "your end in mind" in other words what is your "exit" from this deal. Are you going to fix/flip or wholesale to end user, or maybe put in a little money and keep as rentals. If any of these options fits you I would run this package one by one (pending on time frame) to find out the value of each home...but again it depends on what exit strategy you are using to achieve your goal in trying to buy this package...hope this helps

@Mark Alexander Davidson I am! Very heavily NOW! Half of the business is Wholesaling (we starred the wholesale game in KAZOO/BC area so if anyone tell you other wise they are lying LOL) the other half is using those profits to buy homes with LC and other creative ways to structure a deal that will generate me $250-325 Net cashflow monthly (using the profits for DWN PMT). What type of an investor are you?

Howdy Doug Napieralski yes just send me a PM and we and we can discuss kazoo market