All Forum Posts by: Jill DeWit
Jill DeWit has started 38 posts and replied 1369 times.
Post: Can you flip in any market? I am on the fence.
- Investor
- Scottsdale AZ
- Posts 1,433
- Votes 423
Are you only interested in homes? I have done the SFR flip a few times, had a blast because I truly enjoyed the process, but found more profit in buying and selling land.
Maybe consider other types of properties to build up your capital while watching for your next great deal?
And to answer the "can you flip in any market" question - the answer is yes - as long as you do your homework AND buy it right. I sat with a very successful commercial developer from Minneapolis at a comedy club last night & we both agreed that You Win When You Buy It.
Just a thought.... Jill
Post: Wholesaling - Legal or Not? An Attorney's Perspective
- Investor
- Scottsdale AZ
- Posts 1,433
- Votes 423
Originally posted by @Ryan Dossey:
There is no gray area.... If you just purchase the property. Then resell it.
Well said Ryan. It is that simple. No funny business. Buy good properties at a great price, pay cash, and roll them into your inventory and market until they sell.
Appreciate your "to the point" answer. Sometimes I think people get hung up because they can't believe the big picture concept is that simple.
-Jill
Post: Wholesaling - Legal or Not? An Attorney's Perspective
- Investor
- Scottsdale AZ
- Posts 1,433
- Votes 423
Originally posted by @Dev Horn:
WHY R.E. INVESTING - AND WHOLESALING - EXISTS...
In general, RE brokers/agents are not good sources of cash deals because they do not do the kind of marketing we do. All they can do is email you junk deals off the MLS (usually trashed out, vacant, over-priced REOs). And the "investors" (cash buyers) represented by RE agents are the worst to deal with because they are almost always clueless. I think the off-MLS world is a world in which licensed people are a bit lost. Many of my friends and associates are licensed brokers/agents, but I do NOT want to deal with a listed property or a represented buyer. Another big issue is it adds additional COSTS (commissions) that we do not need or want in these deals.
I could write a book on why the world NEEDS real estate investors, including wholesalers. The people that actually do this know exactly what I'm talking about.
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Thanks, Dev. Great post!
I have found that many RE agent/brokers don't want to deal with smaller transactions because the commission is so low that it is not a good use of their time. I would feel the same way!
There are many great, honest, wholesalers out there - for all types of properties and happy to be in that club!
Sometimes I want to shop for something on my own and save $. (buy wholesale) Other times I want to pay more for the extra service and guidance. (buy retail - pay a commission & higher cost)
There is definitely a great need for both brokers and wholesalers.
- Jill
Post: Wholesaling - Legal or Not? An Attorney's Perspective
- Investor
- Scottsdale AZ
- Posts 1,433
- Votes 423
Originally posted by @Dev Horn:
WHY R.E. INVESTING - AND WHOLESALING - EXISTS...
In general, RE brokers/agents are not good sources of cash deals because they do not do the kind of marketing we do. All they can do is email you junk deals off the MLS (usually trashed out, vacant, over-priced REOs). And the "investors" (cash buyers) represented by RE agents are the worst to deal with because they are almost always clueless. I think the off-MLS world is a world in which licensed people are a bit lost. Many of my friends and associates are licensed brokers/agents, but I do NOT want to deal with a listed property or a represented buyer. Another big issue is it adds additional COSTS (commissions) that we do not need or want in these deals.
I could write a book on why the world NEEDS real estate investors, including wholesalers. The people that actually do this know exactly what I'm talking about.
-------------------
Thanks, Dev. Great post!
I have found that many RE agent/brokers don't want to deal with smaller transactions because the commission is so low that it is not a good use of their time. I would feel the same way!
There are many great, honest, wholesalers out there - for all types of properties and happy to be in that club!
Sometimes I want to shop for something on my own and save $. (buy wholesale) Other times I want to pay more for the extra service and guidance. (buy retail - pay a commission & higher cost)
There is definitely a great need for both brokers and wholesalers.
- Jill
Post: Buying/Selling Rural Land Out of State
- Investor
- Scottsdale AZ
- Posts 1,433
- Votes 423
Post: Buying/Selling Rural Land Out of State
- Investor
- Scottsdale AZ
- Posts 1,433
- Votes 423
Got this great question and want to share for all:
I was referring to those routine legal issues you come up against working in multiple states such as contract wording, foreclosure law, LLC registration and even taxation. For instance, I recently bought a property in Cochise county AZ with seller financing and the seller used a deed of trust and promissory note rather than a contract for deed which is what I would have used. Pioneer Title told me that in AZ it's more favorable that way for the seller in case you have to foreclose. Things like that. What do you do for legal, and maybe even tax advice in the various states you work in?
Post: Buying/Selling Rural Land Out of State
- Investor
- Scottsdale AZ
- Posts 1,433
- Votes 423
Yes - love the free advertising: Craiglist, LandWatch, website, etc. Thanks!
The great thing is the Land Game is not just land!
- have a good one!
Jill
Post: Buying/Selling Rural Land Out of State
- Investor
- Scottsdale AZ
- Posts 1,433
- Votes 423
Hi Geoff,
Yes - we recommend using multiple sources to buy land. We still visit occasional county auctions and find some wonderful deals.
As far as selling & marketing, we recommend developing a "system" and using a variety of places to advertise. (Hey, after so MANY years and so MANY transactions - we learned the right way and dropped the wrong ones.) Let me know if you have any more question after getting through all our material!
Thanks!
Jill
Post: Considered Periscope (Twitter) to Reach Customers or your Team?
- Investor
- Scottsdale AZ
- Posts 1,433
- Votes 423
SUPER appreciate your advice! Having a second person there to keep track of questions is not something I would have thought of & so valuable! I am spending today getting my "agenda" and talking points ready. Feel free to log on at 5pm AZ time today and let me know how I am doing!
Thanks again,
Jill
Post: Buying/Selling Rural Land Out of State
- Investor
- Scottsdale AZ
- Posts 1,433
- Votes 423
Hi @Geoffrey W.
Glad we are connected and happy to answer any questions!
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Love sharing tips and advice about buying and selling out of state. Sure, there are many details but as you are finding out - it is not hard to be successful in this business.
Trying to imagine where we would be today if we had this kind of resource available.
Thanks! Jill