All Forum Posts by: Juan Mendoza

Hi, Erica I have a couple questions how much would the property taxes be? Are you sure that the land is not overvalued? If you looked up lots of land in that same are with a similar size How much are they selling for? Did they overpay for the property? Thanks for posting. 

Hello Jason, I'm a beginner in real estate and I'm also interested in raw land investing! BP has a podcast on youtube. Just search bigger pockets Podcast 39 on Youtube. I'm pretty sure that if you do a search on youtube on raw land investing you will find related content. With anything make sure that you pay attention from who you get advice from.

Best of luck!

Hello, Everyone. I live in a suburb of Chicago and I'm about 2 hours away from Indiana. Anyways I was looking at the real estate prices in Indiana and in they are surprisingly low! I saw some houses in very good shape for around 50,000. To be honest, I have not looked at the rent prices, but rents can only go so low or their property taxes. Once I'm ready to invest would it be a bad idea to invest in Indiana? I know that you should start investing in your own neighborhood especially if you are a newbie. What do you guys think? did any invest far away for their first deal? Has anyone from Illinois invested in Indiana?

Thank's Eric that is great advice!, as a beginner I would feel a lot more comfortable signing contracts knowing that I will be able to buy the deal myself. That would relief a lot of stress once I'm to able to buy my fist deal : )

Thank You, Rick, I think that I might need to find an ethical and successful wholesaler in my area to learn more before starting on my own.

Jhon I understand your concerns and again I think that the wording on my OP was not great my apologies. Yes, I'm with you I also do not want to scam anyone or do anything dishonest to neither the buyer or the seller. that is why I come here to ask questions to get answers on something that I do not understand. 

I apologize to anyone who read my fist post and got offended! Sorry but I'm not a scammer a prick or a bad person. I'm a person who does not know much about wholesaling and was just trying to get an answer to a question. I'm sorry if I came across as a scammer in my first post. Which is ironic because the reason why I'm here in the first place is so that I do everything right the fist time! and also again I don't even have a contract or any experience yet that is why I'm here!

Everyone, please calm down. First of all I have not done a single wholesale deal in my life. I am not a dishonest person nor do I intend to be one I'm really sorry if I did not word my question correctly, but Jerryll is right. Put your self in my shoes please I have not done this in my life and I'm a little scared about signing contracts. Was everyone not nervous on their fist deal? I know that I should do everything to make the homeowner happy! and that is what I want to do I do not want to scam ANY ONE period. I just posted this question, because the Real estate Gurus do not mention the "What If things go wrong" aspect of this business.

Hello, everyone! Merry Christmas to all. Over the past weeks, I have been educating myself on everything that has to do with real estate investing. I have decided to start with wholesaling since I don't have much money at all among other factors. Once I sign the purchase agreement which from my understanding mean that the property is under contract. If I file an Affidavit of memorandum at the courthouse.  This second action would prevent the seller from selling the property to someone else. My question is If for some reason I'm not able to sell the property. once I notify the owner that unfortunately, I was not able to sell the property. He will obviously not be happy, but can he take any legal action against me like sue me? for not keeping my word in the contract. Can the Affidavit of memorandum we removed if I can't find a buyer myself? Thank You, I hope I was clear enough.

Thank You, Kenneth, Yes I think the NOI would not be bad considering that rents are pretty high in the Romeoville area. I live in a two bedroom apartment and my rent is 1200. Homes rent out here for around 1400.