All Forum Posts by: Klint Ruud

New Western Acquisitions is a professional company doing just that. No need to look for shady wholesalers. 

@Austin Works find people who flip homes in the area. Drive around neighborhoods, if you see a house with a dumpster outside of it, go knock on the door. Talk to real estate agents, and wholesalers see if they can refer business to you. Go on the MLS, find houses that are or were on the market that look like flips, contact the agent / previous owner. Network on BP, Connected Investors, FB.

What market are you currently looking in? 

@DelVaughn A.

Hey Kevin, 

Is there any specific market that you are looking in? 

I do agree that COVID is accelerating the process toward the inevitable of digital currency. But I do believe it'll be a few years before we make the full switch. 

@Forrest Faulconer

It really depends on strategy. Finding a home that you could rehab prior to moving in and build some equity into the deal, then 20% down doesn't make sense because you'll probably refi anyways. But if you are looking to get into a home at retail value with little need for rehab then 20% down might be the way to go. I'm not sure of your current financial position but I would recommend that if you are intending to live in this future home for the next 20-30 years that it would probably be beneficial to throw down 20%. It gets rid of PMI. I was able to also get down to 2.6% APR for throwing down 20% on a house I just put under contract. Granted, you also want cash reserves to get through whatever economic uncertainty COVID might cause for the next year.

In an ideal world, finding something off-market, needing to be rehabbed, doing the flip quick enough to take advantage of the low rates and high appraisals is the way to go. If you are able to walk into a home with equity from the get go, then a home becomes an asset.

Jordan, 

You should absolutely check with someone else. I've seen hard money lenders provide better deals than this. Feel free to reach out if you have any other questions or would like recommendations! 

Hey Gary, 

I think a lot of what people are saying is tremendously valuable. I think you have to determine your risk vs reward in this situation. Also, how much you are willing to take on as a new investor. With a safer more established market you inherently run less risk but the return may not be as high. My greatest advice is know your market. If you are seeing other investors actively buying in the neighborhood then its a great way to get into a turning neighborhood. If there isn't much activity, then it might be best to buy in a better market. 

Its 2020 baby! The only thing that matters is if you are good at what you do, you're nice to people and can get the job done. That is it. 

Hey Mohamed,

I love the enthusiasm! Keep doing what you are doing. As time goes on, always try to calculate the return on your time spent generating leads. At first your time is often wasted away trying to make those first couple deals but once you start creating deal flow your time becomes much more valuable. Keep that in mind when you are driving for dollars. I've been wholesaling for a year now and my company produces 50 off-market listings a month just in the Nashville area alone. I would be happy to connect and answer any questions you may have. 

@Simon W. You are correct in saying that wholesaling provides the opportunity for those to build their own capital to invest in real estate. Some are beginners, some are experienced investors. For me personally, it wasn't until I got into my own investment property that I realized I also wanted to wholesale. My thoughts were, if I am able to source my own deals while providing great deals for my investors / friends, while also connecting with contractors, lenders, property managers, and retail agents, being in the wholesale industry deemed incredibly valuable. ESPECIALLY at the volume of deals my company does.  There is a wealth of knowledge out there in the world of real estate, why isolate what you learn from it by just doing your OWN deals? I get to learn from other investor's failures and successes everyday.