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All Forum Posts by: Pratik P.

Pratik P. has started 25 posts and replied 789 times.

Post: For all of you in Hot Markets here is the must have doc.

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

@Jay Hinrichs Ok got it, I'll have to give this a try!

Post: For all of you in Hot Markets here is the must have doc.

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

Is there a way we can verify the competing offer?

Post: I got a deal what now??

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

@Nathan Smith Take this as positive criticism.  You need to have at least ONE exit strategy in place before you go putting things under contract. Your post makes me wonder if you even know how to run the numbers. 

If you want to "wholesale" I assume that means you want to pass the deal on to another investor for a profit. So first, you need to find what other investors are looking for and what is a "deal" to them. 

Post: No offense Wholesalers..Who else has experienced this

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

@Caleb Heimsoth I was unlicensed 2 months ago and now I'm licensed. Nothing has changed in the way we wholesale. I think it has more to do with newbies trying to make "something" happen with little knowledge on how things actual work. 

Post: No offense Wholesalers..Who else has experienced this

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

Clearly, this isn't a legit wholesaler or investor of any kind. Sounds like a newbie who has no idea what they're doing with an invalid contract. 

Post: Flipped to Open Door!

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

@Daniel Y. We bought it under my S-Corp. Open Door didn't have any problem with that. 

Post: How do you become a millionaire?

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815
Originally posted by @Ikaika Farmer:

@Pratik P. Be obsessed or be average.

 Cool story! 

Post: How do you become a millionaire?

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815
Originally posted by @Ikaika Farmer:

@Pratik P. Are you a joke. Lol

 Maybe I am. But I'm not the one asking vague questions that can be answer in a thousand ways. 

Post: How do you become a millionaire?

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815
Originally posted by @Ikaika Farmer:

@Pratik P. What if you start at 13 years old

 At 13, you should be focusing on school and not money. 

Post: How do you become a millionaire?

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

I like to think that there are 2 general paths:

1. Slow lane: Get the highest paying job possible, live below your means, save, invest your savings into stocks, real estate, bonds, etc. Eventually you'll have a net worth of 1M. Probably in your late 30s or 40s. 

2. Fast lane: Start a business and work your a$$ off for 5-10 years. If your business is successful, you'll probably be much higher than 1M by your mid 30s. 

This is if you start in your early to mid 20s.