All Forum Posts by: Nick C.

Nick if you're finding deals at 50-60% of ARV you should be passing them along to local investors for a fee, not turning them down. It just so happens I am a local investor :)

Feel free to PM me for a really good local hard money lender. 

Although I'm not qualified to answer the bankruptcy question I'll give it a shot. From what I understand if you're attempting to buy a property and the owner files chapter 13 the bankruptcy court needs to approve the offer. If the owner files chapter 7 it's not up to them, it's up to the trustee appointed to the bankruptcy. 

I don't know if that's 100% accurate but either way it seems messy. I would think you'd have an easier time dealing with potential sellers exclusively. Or maybe bankruptcies could be a great niche if you're willing to learn more about the courts and how they work. 

If you're licensed it's legal. If you are unlicensed it's not legal. 

Beginner for what? I'm assuming real estate, but that's a very broad topic. I'd get more focused on which aspect you want to get involved in and read books on that. 

Outwitting the Devil by Napoleon Hill would be good regardless of which path you take in real estate. 

Start reading the blogs and forums and don't stop until your eyes start bleeding. 

Can't see your contact info.

I would go with Absentee Owners, low and high equity. 

IMO cash buyers and private lenders are a waste, get good deals and those 2 will take care of themselves. 

It really depends on the bank. Most banks will require a seasoning period before they will count the rent as income. Could be 6 months, could be 2 years. 

Your best bet is to find the smallest bank you can and show them your plan before you start buying. You will hear more "no's" than "yes's" but the good news is you only need one of them to understand and believe in the plan. 

It's possible, not legal, and depending on who you ask it could be acceptable or not. I would not go that route, if that's something you're interested in you will need to get licensed. 

Sounds like the cost of LLC's vary from state to state. Wasn't more than $150 here in Florida. But back to the OP.

I always hear wholesaling requires minimal costs. To wholesale a house that's true. To build a business and make a full time income you're going to have to spend some money marketing. How much depends on your budget and how serious you are. 

The process is simple. Don't get paralysis analysis and get caught up in the details, you buy a property for less than you can sell it for. Spend all your efforts on finding undervalued property. The rest will take care of itself.  

Looks like a winner, congrats!