All Forum Posts by: Mysonne Johnson

@Evan Polaski So what approach should I take? Wholesaling with no skin in the game, no cash no credit.

Or

Fix and Flip with a rehab talking to lenders on financing my deal using a source of credit?

Because honestly I want to do both. But with fix and flipping having the capital is a roadblock that I definitely go through.

@Evan Polaski Thank you for that information. What do you recommend I should do to finance the deal? I could go the bank loan route but I’m 19 and I just now bought a credit card to bulid my credit.

But for using the end buyers money it’s called transactional funding. Where at closing the end buyer bring the money to the table and pays the seller for the property (and earnest money deposit) Then with the remaining would be my wholesale fee. I’m the middle man

@Erin Dorsey Robinson I definitely will. I appreciated!

@Evan Polaski I’ll be creating a system where I generate leads and dissecting them from prospects to suspects to getting the deal under contract.

You asked: how are you going to finance the deal?

I’ll be talking to loco lenders (Private and Hard money) to send them my deals to show I have a good deal and will execute. By then providing soft and hard proof of funds to the seller or agent (if working with agent) to go with the deal.

Or using the end buyers money to fund the deal.

Contract: I’ll be doing research on contract in my state and will be adding clauses to protect myself and to back out of the deal if needed. Also including a 10 day inspection to run due diligences.

ARV: I'll be looking at ARV by looking at comps in the area i'm selling in using my formula to find ARV to create my Maximum allowable offer. Also talking to minimal appraisals to back me up.

I know I’m all over the place right now but i feel like I have a suitable foundation to get started and take action and get off the sideline and learn as I’m in the game!

Yessir, fix and flipping. My first milestone is that I will flip one house a month of the course of a year and buy and repair a high income home twice out the year. By starting with this the end goal I gain the capital of theses profit of theses flips to get into buy and hold and having tenants in apartments to create passive income @Blake Choisnet

How do you guys think about a real estate investor having a real estate agent license as well? I know some benefits to have access to MLS but what else?

I been learning and studying the real estate game the last few months. Of course of I don’t know everything but have confidence and faith to just get started. I created my investment plan which includes my criteria, lead generation model, and acquisitions. I will also be have different types of strategies for the deals I come across of each month.

Any other advice or something you should have done different when you got started.