All Forum Posts by: Kyler B.
Kyler B. has started 2 posts and replied 35 times.
Post: What would you do if you were 20 with some cash in REI?
- Posts 38
- Votes 9
Quote from @Anthony Power:
My names Anthony, and I have got into wholesaling as a way to create extra income and just build up some capital to turn around and re-invest. I have about 20k-25k saved up right now, but my DTI ratio is all out of wack. If you were in my shoes being 20 years old with this amount of savings, what would your plan in REI be for the next couple years ?
Find someone local who is a decade older than you, who has done what you are wanting to do. Learn the ins-and-outs from this person.
Quote from @Daniel Fiorello:
Just starting out wholesaling in staten island. Was wondering if anyone has had any success here. Is it possible to even do it where I am? Any help would be greatly appreciated, I am relatively new to this.
To get real good market insight - maybe call a few local Real Estate Agents and see if they will provide you contact information on the wholesalers they work with. From there, call those wholesalers and ask if you can work for free for them for 3 months - this will be huge ROI for you if they accept.
Quote from @Tracey Bond:
I want to start in my own backyard wholesaling first before I try it virtually. I'm not sure exactly how to start here. Prices are not the same as in other parts of the country. Does ARV X 70% - repairs formula work for California.
To get real good market insight - maybe call a few local Real Estate Agents and see if they will provide you contact information on the wholesalers they work with. From there, call those wholesalers and ask if you can work for free for them for 3 months - this will be huge ROI for you if they accept.
Quote from @Samantha Distor:
I'm based in Las Vegas and want to start wholesaling real estate here, but I've heard it's not a good market because it's too expensive for investors. Any insight on this?
To find out if there are a lot of flipping activity, you can go to zillow and search the zip code you want to target. Then, search for homes recently sold at a substantially lower price than the average home sales price.
Then go to new listings, and look to see if any of those homes have recently been flipped. If you are seeing flipping activity, it's a good market to WS.
Unless is wife is involved with the company, its weird that you'd send her money. Maybe tell him you're keen but want to chat with two of his previous/current students to make sure he's legit.. Also, there are a lot of ppl that can teach you this skill, so don't feel that you have to go with him or nothing.
But, be prepared to invest $$ whatever you do, if you are serious about learning the process.
Driving for dollars is a time-consuming and expensive strategy - although, D4D is the best way to build a personalized and exclusive lead list, and these leads often turn into the most profitable and lucrative deals for wholesalers/REI.
I would consider using tools to help with your D4D process - especially AI tools - to become more efficient. Then once you have all the homes you want to target, do some sort of outbound strategy. Speaking with sellers I believe typically yields best results.
I would consider wholesaling - it's one of the most common avenues for ppl getting into REI
Quote from @Evan Bermudez:
Quote from @Kyler B.:
Hi Evan - yea we've found a ton of externally distressed homes. What part of the WS process has been difficult for you?
I'd love to know your process. Please send me a text so we can set a time to talk: nine18-704-4936
Just sent you you a text!
Hi Evan - yea we've found a ton of externally distressed homes. What part of the WS process has been difficult for you?