All Forum Posts by: Mason Jenkins

This may have been asked before, but what I’ve been able to see in past posts regarding New Western is people buying from them. What I’m wondering here is has anyone wholesaled a property to New Western? I was contacted by a rep who said they (New Western) will close on the property and pay the wholesaler’s assignment fee and then turn around and wholesale it themselves to an end buyer. Is this correct and does anyone have experience with this?

Hi all,

Let me preface by saying I don’t want to wholesale and I’m sure everyone can imagine why. My dilemma is raising capital to fund the project. Hard money loans will cover a certain percentage of the cost, but how can I raise the other portion? I know the “classic” answer to that will be to turn to family and friends and the like but that’s not applicable in my situation, and I don’t have the credit for a mortgage nor do I have the funds myself.

I’ve thought about trying to get an owner-finance seller to cover the portion of what a hard money loan won’t pay, but I’m not sure a seller would go for that since I’d essentially have to convince them to pay to sell their house, if you get what I’m saying.

Would an equity partner be an option? I’m not too familiar with this one.

I can’t imagine I could use two hard money loans, they typically don’t want second position.

Any suggestions?

I’m looking into residential vs commercial real estate properties. Does anybody have a preference to one versus the other? What are the pros and cons of each? What are the expenses associated with commercial as opposed to residential?

@Hannah Paitchel to add to my last reply, there are a few properties I’m looking at myself that would be a good candidate for you. Perhaps we could go in on something together.

@Hannah Paitchel I currently live in Massachusetts. If you’re looking to invest in Massachusetts or New England in general we may be able to form a partnership. I’d be interested in working with you to find and secure deals.

@Samary Agosto thank you for your reply! I’ll check it out for sure.

@Ryan Tetreault thank you for your reply! I’ll definitely have to check it out.

What are some good books you’d recommend for beginner wholesalers? Anything from finding leads and buyers, finances and repair cost estimates and all that, and communication. Also anything else you think is relevant, all suggestions are welcome!

@Tony Kim 🤨

@Jesse LeBlanc yeah I just got that book in the mail today. I plan on reading it over the weekend. As for the vetting, I got a taste of that. I “requested” what have you for access to the Facebook group and another guy saying he was a mentor reached out to me via messenger. Guy by the name of Paul Lantvit.