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All Forum Posts by: Jim Pellerin

Jim Pellerin has started 8 posts and replied 870 times.

Post: How do i scale without this barrier...

Jim PellerinPosted
  • Real Estate Consultant
  • USA
  • Posts 1,023
  • Votes 750

You are a realtor. You are in a perfect position to wholesale properties. You get first access to new listings and even pocket listings. Start looking for distressed properties and wholesalers. And you can also do off-market deals. And as far as scaling, I wouldn't recommend buying more sfh.  

Post: What to do with $400k?

Jim PellerinPosted
  • Real Estate Consultant
  • USA
  • Posts 1,023
  • Votes 750

Abraham Lincoln is often quoted for having said, “If I had eight hours to chop down a tree, I'd spend six sharpening my axe.”

Post: Options on raising capital?

Jim PellerinPosted
  • Real Estate Consultant
  • USA
  • Posts 1,023
  • Votes 750

Start wholesaling

Post: Work with wholesaler

Jim PellerinPosted
  • Real Estate Consultant
  • USA
  • Posts 1,023
  • Votes 750
Quote from @Martin Yanez Jr.:

Is there any wholesalers in San Antonio Texas that are looking for people to help them or even looking to mentor somebody. I’m still getting used to this and having 0 luck at the wholesale side of real estate.


 What do you mean "0" luck? How many offers have you made? It's a numbers game. Look at 100 deals. Make offers on 25, negotiate 5, get 1 accepted.

Post: Should I make my bottom unit a rental or Airbnb.

Jim PellerinPosted
  • Real Estate Consultant
  • USA
  • Posts 1,023
  • Votes 750

there are some tools out there that can analyze your property and the market for you. I use getwheelhouse

Post: Best Resource to Search Comps Quickly and Accurately

Jim PellerinPosted
  • Real Estate Consultant
  • USA
  • Posts 1,023
  • Votes 750
Quote from @Brittany Haston:

Hi Everyone! What is your favorite online resource to search comps quickly and accurately? Preferably for free. 

Thanks! 

- Brittany


 Dealcheck

It's not free but super affordable. 

I just type in the address into the phone app and create a property record. Then I go and select the comps from a list of about 15. It calculates the ARV from the comps and looks at the Zestimate and gives a recommended ARV. It also looks at the overall deal from a fix and flip or rental. And finally creates a report you can share.

Post: Buying my first Property?

Jim PellerinPosted
  • Real Estate Consultant
  • USA
  • Posts 1,023
  • Votes 750
Quote from @Jon Hobgood:

@jim 

@Jim Pellerin What makes you say Wholesaling vs. Maybe flipping? 

Theres no cost to get started and you can start learning while doing. Plus there's no risk. 

Post: Buying my first Property?

Jim PellerinPosted
  • Real Estate Consultant
  • USA
  • Posts 1,023
  • Votes 750

@Jon Hobgood I would recommend start with wholesaling.

Post: Proof Of Funds Question!

Jim PellerinPosted
  • Real Estate Consultant
  • USA
  • Posts 1,023
  • Votes 750
Quote from @Kris Eubanks:

For my first wholesale deal im trying to connect with real estate agents to find something already on the MLS.(No cold call needed) Are they likely to ask for proof of funds? How does someone without an extensive buyers list get a proof of funds letter? Open to all feedback!

 I believe on-market is the best place to find wholesale deals> Watch this guy who does hundreds of w/s deals a year. Youtube channel: Flipping Mastery

Post: Real Estate Investor mentor tells me it's illegal to wholesale

Jim PellerinPosted
  • Real Estate Consultant
  • USA
  • Posts 1,023
  • Votes 750

@Seldon Rios

It's not illegal as long as it's done right. Like @Chris Seveney said, most people market the property, which IS illegal and not the contract.

But a lot of states are changing and if you are going to focus just in New Mexico then I would recommend you get your license.

Here's a detailed article that references the actual law

https://www.realestateskills.c...