All Forum Posts by: Mark Whitted

Aloha!

I wouldn't say it's "too late" for Dallas or Houston. But Dallas at least is a pretty tight market. AREI has a nice operation going here. Class 'A' properties running $100,000 + with no rents < $1,200/month. The biggest problem with investing anywhere in Texas is property taxes. We have no state income tax so we fund our schools and other government services mainly with a combination of property taxes and sales taxes. That can make it really tough to cash flow. 

I haven't invested with any of these companies yet, but you have a good list there. Also take a look at American Wealth Builders. They are doing most of their business in Ohio; mainly Columbus and Cleveland.

Good luck!

I found one. Thanks everybody!

Larry Fried Could you share the provider?

...out of STATE... Geeze, can we get an edit function please? 😞

If you're going to invest OUT of state...

I need a real estate attorney in Cleveland to review a simple promissory note and mortgage. Heads up! If you're going to invest out of star you're probably going to need an attorney in the state you're investing in. My Texas attorney doesn't know much about mortgages because we don't use them in Texas. We use deeds of trust instead.

Ralph R. Starting at 59 here. I hope I can mirror your success. My kids think I'm in a cult or pyramid scheme. My Mom wants me to "be careful". I don't even want to talk to my brother about it yet.

Angela Abe By notes, I'm referring to private money lending to flippers/wholesalers. A bird dogger finds properties for a wholesaler who then makes the deal, acting as a deal maker between a motivated seller and a cash buyer. The wholesaler will normally get the property under contract and then assign the contract to a buyer without ever actually owning the property themselves. For this, they collect an "assignment fee", usually around $5-10,000, sometimes more. The wholesaler would then pay the bird dog a finder's fee, usually about $500-1,000. My plan is to easy into this by bird dogging and hopefully learn enough to start wholesaling the deals myself. All of this because just reinvesting cash flow isn't going to get us where We need/want to be in 5-10 years.

Has anyone here invested in notes with American Wealth Builders?

59 here. SO wish we had done this earlier. $111,000 in a SDIRA. Waiting for July and 59 ½ so I can pull $$$ from that to invest in buy and hold SFH, out of state turn key to start. Until then, getting ready to put $100,000 of the IRA $$ into short term notes. will probably then use notes use $$ not yet enough to get the next house. Probably going to get into wholesaling to speed up the process.