All Forum Posts by: Account Closed

Yeah its not possible, BUT ITS DEFINITELY possible if you get a hard money loan. Then you can comfortably buy it, and resell it.

Sounds like a scam where they give you properties that might not be listed and they pretend they go in contract with you and make you wire money. Ive seen that before - I can't say for sure though if its the same. I mean when you google them and find an empty lot that should let you know lol.

Not really, I work with realtors all the time. This is my process. Realtor finds me a deal that sellers wants to sell asap, not list, or wants all cash. My realtor says I have just the right person. I go out, do my own due diligence, and come up with a cash offer. Once we agree - I buy the house and me and my realtor have a side contract where I give him X percentage. Sometimes they want to go half and half on the cash deal so we split equally. It all depends on the deal. That's how I usually proceed with realtors who run into sellers who want to sell fast. DM me if you want to connect further!

I never send mailers, or cold calling. All my own deals I source to flip are from sellers reaching out to me. All done online. I never found cold calling or sending mailers an effective investment on my time. I feel like thats tactics from the 1980s being applied to the 21st century. 

Hey Osei, I am in Long Island and do flips all around NY and outside states.

How do you plan on being in front of motivated sellers? So many people  want to virtually wholesale, I hope its not cold calling lists. Not a very good return on investment when you account for time.

I don't know how you can list on MLS or OPEN HOUSE if the seller agreed to not list it. I don't know how you can avoid that or a way around it. However it does make sense in part with a partner who does have the cash. Settle the buy with your partner then when its owned out right can be listed and resold. Just my thoughts. I do follow what you are saying but I believe you cannot list it. In theory you can also wholesale it, meaning you can then have a buyer list reach out to those buyers and assign the contract to them and keep the wholesale fee, whatever that may be.

I think buyers aren't the hard part. The hard part is being in front of motivated sellers EFFICIENTLY (cold calling and driving by houses isn't really effective when you take account time vs. reward) - Pennsylvania has certain upcoming markets - I've done a few flips there.

Stephanie - what part of PA? I heard you mention "no one wants to deal in my town" so I was curious.

Hey Jerry, welcome to the world of real estate :) I am a cash buyer myself in Long Island New York. Let's connect. Its always nice to meet new people and network within New York. I have been looking at UPSTATE New York for certain endeavors.

Good question for a wholesale deal, but for flips we use one LLC per project. In theory, you can use a corporation if you continue to wholesale contracts. I would speak with a tax advisor though.