All Forum Posts by: Prince Conley

I'm looking to jump into fix and flipping in the Atlanta area however to gain more experience I'm looking to partner with an established investor on a few so I can learn the ropes. I would be able to contribute some cash to the overall deal ($20k-$30k). I know this would not be enough to garner a 50/50 split however how much of a partnership percentage should I look for? Does it depend on the actual cost and ARV? All advice is welcomed.

so the best way to find expired listings is to use a realtor? Has anyone used redx or leadsenders before?

@Will Barnard Youre right. After doing a bit of research its definitely quite doable and not as complicated as I thought. Im looking to partner with another investor on this deal and were meeting next week. thanks for the advice

Got it. Thanks everyone for info

Thanks for the insight fellas. Quick question what if I just charge a fee to someone looking to cash buy the properties. I simply don't have the experience to pull what you're talking about off yet. I guess something like a bird dog fee. The package is pretty big and I have an offer of 1% commission for the entire package. Is that good? I honestly want 3%

I came across a good list of banked owned properties with majority of them having tenants already in place. The bank is selling however I came across the properties through a broker who represents the bank. I'm looking to possibly send the properties to a few investors but I'm still unsure of how I can make $$. Do I just send each property separate after I negotiate my fee or should it be 3% of the sale price. Also should I have the buyer sign a finders fee agreement? I'm thinking yes but I'm still new and figuring things out as I go.

thanks everyone for the kind words. Really excited about my Real Estate investing possibilities.

@Tim Fergus thanks for the heads up. I'm looking into both REIA's.

Thanks Everyone for the insight. Really interesting stuff.

Andrew thanks for your feedback. I think hitting someone 60 days away from foreclosure is a pretty good strategy to entice them into selling. How do you know when they're 60 days away? County Assesor?

Thanks Bill I really appreciate your feedback. So if the buyer could get the property for 70% or less of the actual property value then maybe it's a deal that could work.

I like the ideal of wholeselling to learn the ropes but using pre Foreclosures may be a bit to advanced for me at the moment. Thanks for the insight

I'm a newbie and still doing research. I'm interested in wholeselling pre-foreclosure however from what I've been reading it's pretty difficult to accomplish. I have a good process for finding pre-Foreclosures but I'm having difficulties understanding how deals are done from beginning to end. Below I've taken my stab at how I think the deal is done. Please poke holes where you see fit. - located property where seller is 60 days in pre-foreclosure. Owes $90k on a home worth $110k. - I've done research and found homes are selling for $105k to $115k in neighborhood. I offer to buy home for $90k from owner and have them sign Assignment Contract? - locate a cash buyer willing to pay $100k and have them sign purchase and sales agreement. - send both contracts to title company or closing attorney. Buyer and seller must sign off on paperwork. - through title company or attorney I then receive $10k As I mentioned I'm a newbie so I'm just trying to understand the process. Thanks