All Forum Posts by: Luke Diem

My only fear on diving right in and getting the phone ringing is that I will waste money on good leads and calls. I work 10-12 hours a day and drive 2 hours each day to work. As you can imagine my free time is limited during the week. I would really like to become a full time wholesaler, but I would like to have a smooth transition into it and limit my risk of failure by not just quitting my job. Any recommendations for my specific situation?

Awesome advice guys! I will start immediately.

I have recently started real estate investing. I have purchased one buy and hold duplex so far and I would like to switch from my full time job into full time wholesaling. I am looking for advice or anyone who could share their knowledge with me on wholesaling. I have done some research and have educated myself on how to start wholesaling but I feel as if learning from someone with first hand experience would be valuable.  

Buy 100 units! (10X my original goal of 10). 2 down and 98 to go!

Wow what an incredible opportunity! I am a brand new real estate investor in Michigan. Currently working on my first deal (in the closing process of a duplex). If you ever have an opportunity in the Michigan area I would love to see if I qualify. I would be willing to donate ALL of the proceeds to St. Jude Children's hospital of research and use the opportunity for simply experience only.

If an investor was interested I would sit down with them and show them the business plan. I would also walk them through previous deals. I would definitely have a much more detailed conversation with someone that came to me interested to hear more. I just heard that there can be some legal issues if you search for private investors the wrong way. So I was basically wondering if someone I know gets me in contact with an investor because of a message or conversation like this, will I be thrown in jail?

I absolutely agree that face to face conversations are better. That is probably what I will do. So I guess what I am wondering is if the text I provided is a good round about way to explain what I am doing? Jeff B. Could you explain a little more? Are you saying you can't really use private money to fund deals?

Is this an appropriate and legal way to ask friends and family to help find private money investor partners? This is a message I would send to a group of my very close friends.. any advice or tips would help, thanks!!! "Hey as you guys know I'm looking for private money lenders. I would offer an expected 8- 12% interest rate which would mean if they invested $100,000 they would earn $8000-$12,000 annually (there are very few returns like that out there). And sure this comes with a risk right? The lender would be secured with a lien on the property. Now maybe none of you guys know anybody interested. But if you do I will offer a 1% referral bonus to you. if you find a lender for $100,000 I will write you a check for $1000. Just keep this in mind and talk to people, you never know… also keep in mind everything will be done legitimately through a real estate attorney with contracts."

Maybe look into B2R finance. I believe it's an asset based lender. They lend based on the cash flow of the property, not your income.

Are there any BiggerPockets meet ups in the Genesee county area in Michigan? I am new to investing and would love to start networking with like minded individuals.