All Forum Posts by: Quincy Baker

@Charles Carillo Thank you.

When using a contractor to go in to estimate repairs on a property, how do you pay the contractor for their estimate? Is this an expense as a new investor you must be prepared to cover OOP until you’ve done a few deals and saved a reserve for estimates? Are estimates expensive?

Thanks

I’m thinking about what would be the cleanest, simplest rinse and repeat model for flip structure.

I'd like my LLC to remain in place ie am not interested in creating one-time-use LLC's (expensive and not practical for me).

I’m looking for anonymity as well but am not sure how often instruments such as trusts for example are used in wholesale transactions and how familiar and comfortable buyers are with this process.  I am also a little foggy on how to contracts are completed when trusts are used.

Thank you Yoann. I appreciate your suggestions. It does seem like everyone’s consensus is to educate yourself then just get in and start trying. 

Thanks for your suggestions. I am living in NYS for the next 2 years. I thought I'd wholesale here during that time. I'll will be relocating to the DA, MD area after that and thought I'd start buy and holding there since it's where I'll be living. I'm not sure buying and holding in NY makes sense if I'm leaving in 2 years unless it's a flip that's of significant value within that time. My LLC is formed in DA so it seems to make sense to learn that market but as a beginner i guess learning NYS should be my only focus for now.

Q: Is there any particular market within wholesaling that tends to be a best place for new w. to start?

I am a beginner REI. I'm looking to start my business in wholesaling and later buy and holds. I've read so much on the wholesaling and assignment process I'm stuck in analysis paralysis.

1. It’s been suggested to me that starting with full authority probate Properties is a good place to begin.

2. Virtual wholesaling is also a thought. Though I can't afford Chris Chico's virtual wholesaling program I am strongly interested in virtual wholesaling but don't know how realistic this idea is as you can't physically see the property. I live in NY my LLC is formed in DA.

Any suggestions on how to settle my mind and on WHAT PATH might be best to focus on and HOW to start would be greatly appreciated from the bp community. I’d be nice to close at least one deal this year and know that it can be (over time) a viable business.