All Forum Posts by: Priscilla Z.

What are the legalities of this? Can I purchase a property my company is wholesaling? It would be my primary residence....any help would be greatly appreciated!

Hey Guys...yes..the whole "guru" topic. I was actually in the same place as Christopher...researching Cameron Dunlap and the I-Flip program but could not find anything, that's why I decided to start this thread...I'm really glad I did!

I do have to say, Cameron's system is OK...the reason I went into his was because he give me back the money I invested in after I close my first deal with his funding...and he only charges 3% to use his funds.

From what I have found, others might charge 2-2.5%, however, they do have a minimum fee of $2,500....or charge an extra $500 processing fee...whatever it may be. Cameron's does not....and in my market...the deals I come across are usually less than 80K...which means that his 3% works well for me...and then he gives me my investment back.

Now, he does make everything sound soooo easy, when it's really not. The bird dogs, the houses they submit, finding the owners, etc, etc, is really a pain. I havent benefited from that at all.

Another thing I learned these past couple of days is that here in Florida we are permitted to do a double closing and use our buyer's money to pay the seller we are buying from. That is not the same in all states. So, I do not need to use Cameron's money when flipping an REO, however........in short sales, it is not permitted to use the buyer's money, so this is where using Cameron's funds will benefit me.

I think that's all I have for today guys....

And my final thought.....I agree with everyone else about investing their time in BP. Read a lot and learn.

Bigger Pockets is the BEST investment I have made....I have learned soooo much!

I thank Joshua, the great moderators and all the BiggerPockets members for that!

Hey Jeffrey.....nope, not working for it...I'm trying to make it (iflip) work for me...

I'm seriously here just giving my review of the system . . . . so, to answer your question, yep, it's just you! :)

Hey Dennis....I will be making my money when I SELL....I never said that I would be making my money when I BUY...I don't know where you understood that from. I will be doing a DOUBLE CLOSING.....first I buy, then I sell....I make my money when I SELL. I hope you understand it better now....glad you "got a laugh"....even though you misunderstood.

And....no, I'm not a millionaire yet....I've never said that is my goal....

Hope I've clarified things for you.

Thanks for the quick replies. I figured these were the answers I was going to get! Glad to hear I'm not doing anything illegal...

And I will take all of your advice from now on....no talking to realtors about my investing.

Thanks!

I have my first bank owned property under contract, I'm going to do a double closing on it..

My marketing team put it on craigslist to advertise it and get some buyers....

However, I was just informed from my realtor that its illegal to advertise and to take it off immediately.....is this true?

Since I'm a newbie wholesaler...can I get some input from the more experienced ones? Thanks.

Hey everyone! Another update! I just got my first contract accepted yesterday using Cameron's POF....now I'm working hard to get this house closed, they only gave me two weeks to close, so I will be using his funds to close this one...will be able to give you a review on that once it happens!!! So excited!!!! :)

Hi Christopher and Daniel,

I apologize I have not been around lately to answer questions, I've been extremely busy these past few weeks.

Christopher, you are right about the agent and being informed about the property pre-list, I have not had any luck in that area. However, that's only for bank owned properties. What I have found on the 60+ properties that have been submitted to me is that a lot of them have not been foreclosed on yet. They are pre-foreclosures and are either the owner's rental properties or the owners left. With these I have offered to get them on board with a local agent who specializes in short sales, and I would be the one putting in the offers on those properties.

As far as the bird dogs go, we have about 97 bird dogs that have registered with us, but only six of them are hard at work looking for properties. What I would suggest if you do get into this program is to have some money to pay your bird dogs the $5-10 per "accepted" lead (you choose to accept or not) that Cameron suggests. I unfortunately did not implement that, I offer $500 if I close one of the houses, my partner and I are in the process of re-evaluating this system and possibly taking the route that Cameron suggests.

So, as you can see, I have bird dogs bringing me have properties that can potentially be a good deal, but it takes time. You need to research the properties, send a letter, and wait. And if you don't want to wait, find the owner's phone number, which can be a dead end.

I personally think it's a good investment thus far. My buyer's list has increased by about 10 people, that is using craigslist and some people just found us from google searches. His POFs are wonderful and that is what I'm using with my 25+ offers per week.

I hope this has helped, any more questions feel free to ask! Daniel, I have not heard about Jason Loucks' system, do you have any info on it? I'd like to hear about it....

Thanks!

What company has them now? Sorry if this has been talked about in the past...I usually search the forums for answers to my questions but there are TOO MANY posts on Bear Stearns for me to read through!

Just a company name...please...anyone??? :roll: