All Forum Posts by: Christopher Um

I believe college is worth it right now. The experience, the people you meet, what you learn(even if not all of it is useful, but interesting), is great.

I don't believe colleges emphasize the importance of investing enough. In my opinion, I really think the Formal education system is meant for people to get "jobs" or become professionals for a particular service or specialty, which is not a bad thing. After graduating, It doesn't mean you'll be financially successful or even secure. Like any education, the only thing that matters is how you apply it. Which is something I just realized myself a few months ago. I like most of my friends, were stuck in the mindset told by our parents, teachers, adults, government, etc... that you need to study hard in school, get good grads, get a degree, get a safe and secure job, then have a good retirement. That was literally just programmed into us. It took me a while to get out of that and look towards other opportunities to become successful.

I am currently attending and I do plan on attaining my bachelor's at least in accounting. I am really focused on becoming a CPA just to help other Real Estate investors reach their goals. I want to become part of other investors teams and see them grow and become rich. After Real Estate, I do want to run my own businesses as well. However, I am doing this more as a passion rather than depending on it for my income.

I just think attending a university maybe overpriced for the amount of possible return you may get after you graduate. Luckily for me, I've been educated in Real Estate Investing, and I plan on having my assets pay for my education later on.

I have nothing against formal education, and I believe it's important to a certain extent obviously. But I see so many students around my age who don't see other ways to become financially successful, and think the way I used to think from my parents.

I see people from other countries or far away who come here putting away a lot of money and time, to attain a degree. It really inspires me to see their motivation and drive, and meeting those people have given me a positive influence personally. I try to encourage them to invest in addition to attaining their degree, but they think investing is risky or even stupid. I really want them see that there is a lot of money to be made through investing that you won't need a job to cover your expenses, but you still have one just as a passion. I love their devotion and motivation to educate themselves, but I try to encourage them see other options to expand their opportunities.

Well that is just my 2 cents.

Welcome to BP!

Welcome to BP!

I just joined a couple of weeks ago.
There is a wealth of information here.

I hope you will get a lot out of it like I am. It's really a great site.

Rosie is one of the best clubs I've been to in LA.
Loved the Networking and setup. She has her own great meeting area.

I also recommend attending
Investors Resource Center of America, Los Angeles
the meetings are held on the 1st tuesday of each month at the Four Points Sheraton Hotel in Culver City.

Yep I agree with everything mentioned here.

If you have access to the mls or know someone who will pull up listings or expired listings for you. Look for properties that were sold in "as in" condition. There is another way to find great buyers off the mls.

Starting Out, I also posted an investors special and handyman special ad on craigslist. I generated quite a few calls from buyers as well.

Remember to right down their name, contact information, type of investment properties they are looking for, financing, how quick can they close, what type of numbers make sense for them, and what area they are working in.

I understand the concept of making an offer with a standard purchase agreement, and drawing up an addendum to add someone on to title. And once the property is sold, you deed your title off the contract with a quitclaim deed.

I am just wondering where am I suppose to get paid? Do I ask for a fee on the addendum, the quitclaim deed?

This is a new strategy I am considering when wholesaling properties already listed with a realtor.

Any advice would be great thanks!

MLS is a great source to bring you comps on previous sales and expired listings. I recommend it for anyone trying to find how active houses are selling and the price they are selling at in a particular area you are working in.

Find a realtor that will pull up properties for you based on a specific category you requested. Try establishing rapport with a great buyer's agent.

Also... drive for dollars and look for listing agent for sale signs. Call them up immediately and ask for information on the property(bed/bath, days on market, bank owned, shortsale, standard, etc..), find out if they any other properties they are listing, and then make the offer (study your market of comparables first in the area). You may get rejected, but you may also have fished yourself a great deal.

However with many deals on the MLS, you'll be competing with other investors. Sometimes you'll even have to offer above the asking price to get the property. Which often means the deal won't make any sense for you to do.

There are many ways to look for properties besides the MLS, post your own ads, drive for dollars and jot down the addresses of distressed properties(boarded/vacant/old newspapers/uncut grass/etc..) and look for the owner's mailing address, call FSBO's, call for rent ads, and many times other investors will bring you great deals if you continue to network. Talk to neighbors and people who work in the community for news on someone trying to move or sell their home. Keep talking to as many people as you can. You may never know what kind of relations, connections or leads you'll receive.

You really only need one buyer to get started.

However having more definitely would not hurt.

You want to find quality buyers. Ones who have available funds that can close quickly with cash.

If you continually bring great deals to a particular investor he/she would like to continue working with you for helping them make a great profit.

Find out your buyer's criteria. Find out their exit strategies,financing, and location.

Put your self in the shoes of your buyer, and think of what kind deal your buyer would buy to make a great profit.

Welcome!

Glad to meet you!

I am new as well to BP.

I am new to these forums and investing as a whole as well!

Welcome!

When I first started wholesaling(6 months ago) I really was nervous. I was very shy and at times, I admittedly felt like I couldn't do it.

However a few months later, I began attending more clubs and other events to network. It has really helped me, and I've been working with 2 partners who have the same goals and immediate tasks we both would like to complete. They've kept me motivated through good and bad times.

My advice as a new wholesaler to anyone who wants to start wholesaling: Network, Network, Network. Build up your buyer's list and simply find deals based on what your buyers are looking for, and you'll learn as you go! Take Action and Be Patient and Persistent.