All Forum Posts by: Pete Perez

@Joseph King

That makes sense. Why buy something you don't have buyers for right? When you talk to your buyers about what they like, is that a phone call or over some lunch? 

Thanks again,

Pete

@Joseph King

I am sorry if this is a dumb question, but are you taking inspectors to the property visit or are you comfortable estimating repair costs on your own already. I see this as possibly being the biggest hurdle for a new wholesaler. Any the sticky on this forum has been saying exactly that for like 5 years now. Just curious what you do.

Thanks,

Pete

@Todd Fithian

I've read a few forums with people in the IE that are successful and also talked with some at meetups. The common theme is that they market directly to sellers for their deals. Waiting for a lull would work for sure, but there are deals to be had now. Again I am just relaying what I've read and talked to people about. 

Hi @Angel Juarez!

Welcome to BP. I am in the Fontana area for another few months before I move to Washington. There is a meetup in Riverside once a month. If you are series you should check it out. Lots and lots of great people to meet and network with. The guys who set it up are HML for flippers. Good group of people. Look forward to reading about your success.

Best of luck,

Pete

@Justin Peila & @Corey Smith

Corey is right. I've read many posts on BP about how some banks won't allow more than 4 loans even though the Fannie Mae limit is 10. 

@Stephen Tyler Adams

I think particularly at the beggining its important to setup actionable goals for yourself like @Andrew Syrios said. Read X number of books, attend X number of meetups, etc. But I also really like the idea of starting really high level and then narrowing in on how to accomplish that. 

Let me share my goals so it makes sense:

• Financial freedom by 35
• $10,000 passive income monthly

Those are my really high level goals that I established late last year. Since then I've been focusing in and creating a plan of action to achieve those goals. I think in general its good to start high level, then narrow in on details because it gives you focus and a starting point. From there you can select your strategy and build your business plan. Whether its flips, buy & hold, wholesales, etc. I hope that helps give you a starting point for goals.

Best of luck,

Pete

@Skip Dell

When I read the headline I thought it was a lead generation problem, but I am glad I read the comments. Great info!

@Richard Bohl

Welcome to BP! I have a similar situation. Read Rich Dad Poor Dad and wanted to start flipping, had no money and about $11K in consumer debt. Stepped back and realized I needed to get my head out of my-you-know-what regarding my personal finances. Got that in line over the last few months and am now debt free. 

We want to house hack and pay ourselves what we would be collecting in rent to build our capital. We are exploring wholesales mainly as a way to generate leads when we are ready to flip and its a good way to talk to people. Still a ways away from purchasing the duplex we plan on house hacking. Not sure about your market specifically, but I think you're on the right track. 

Take care and can't wait to read about your success,

Pete

@Greg Wadsworth

Welcome to BP!

Sounds like you've got a good handle a jumping off point. Wish you the best and look forward to reading about your success.

Best of luck,

Pete

Welcome to BP, @Michael Diaz! I think you've got the right start. I graduated last year and have been working full time as an engineer. What we do is start with the end goal in mind and work backwards to figure out how we are going to do it. That sounds exactly like what you are doing. Whether you want to build an electric vehicle from the ground up, or make $10,000 passive income every month you are still figuring out how to achieve the end goal. 

Obviously you've got a great education and are well on your way. Look forward to seeing what you accomplish.

Best of luck,

Pete