All Forum Posts by: Richard Gaston

@Pete Nater No Problems amigo, I am sure there are newbies though who don't have cash buyers who just happened to see Peter Conti's & Jerry Norton's Webinar today, as I said I was just listening to it :) and while I was listening to it I decided to do a search here to see if anyone has used their system and found your post lol and of course while I was listening I just happen to hear the punch line, to use their system it's going to cost newbies $1,000.00 Deposit which is refundable after they close their first deal, so instead of $10k you're going to make $11k on your first deal, after that I shut the webinar down especially after I also heard that if you don't like the system or if it don't work for you within 90 days you get a total refund, etc etc etc. I am sorry I don't like pitches, especially the pitch in order to sign up to their webinar. They said they are helping people who are strapped for cash and can not afford, oh heck never mind I think everyone has already heard the same song and dance, but thanks Pete, I wasn't paying attention to the dates on the post and should of, thought it was recent seeing I was just watching errrr I mean listening to the webinar didn't think they played this song and dance before, no foul :)

Like J. Scott said Finding Deals is easy, its the Cash Buyers that are hard to come by. @Pete Nater if you find a good enough deal with enough equity in order to make $5,000 to $10,000 just selling the contract (check here to learn about how to Wholesale) and there is still enough equity for the Buyer to make a profit after the repair costs and flipping the property after repairs, the idea of fix and flips to begin with, lol. Ok I am digressing here, its these dang graveyard shifts I work, my brain gets a little whacky lol, let me start again, find the property, make the deal, make it subject to close within 30 days, go on CraigsList put an offer on the table for a cash buyer to purchase the property, find the buyer, sell the contract with a $2,000 to $10,000 upcharge of what you negotiated with the seller depending if the numbers support it, go to close if it all goes well with the cash buyer (that means if he accepts the deal and the numbers look right and if it looks like on the exit the buyer can make a decent profit), get your money, buyer gets his property, seller gets his money. Ok I am making it sound to simple, there are podcasts as well as books that teaches how to Wholesale, which is not really all that simple but still fun if you got what it takes, as well as a lot of hard work if you're willing. I don't mind doing the negotiating part, its the Marketing Part I am having problems with, I was never into marketing lol and in my area I feel with Bandit Signs, its over saturated on that end so I need to figure something else out to get my word out, without reinventing the wheel, lol...

Not yet, haven't had the chance lately. Been having medical issues, allergies ugh, and Bronchial Asthma so I need to get my meds, just waiting on the Doctors office to fax the refills to the Pharmacy so I can breath again lol. But now that you mentioned it I can check online here to see if the Spaghetti Factory is still open and see if they still have meetings there for the REIA, and what Days Inn??? And where???

@Christopher Hunter Thanks mate I will do that, and way ahead of ya on the meetups been keeping an eye on it, heck I get an email telling me when the next one comes up, read it to see if its here in Lakewood or Tacoma :)

That one was a no brainer, ok I am sorry I was just watching the Webinar about it. Like everyone here has said, you can basically get the info here for free, and its no different if you just Find the Property, get the Deal, crunch the numbers and offer it to a Real Estate Investor here (or anywhere else) and get paid the same amount. Its called Wholesaling, duh, oh yeh I forgot when you offer it to an Investor you up the price you negotiated with the Seller by $2000 to $10,000 if the numbers support it and it's still a good offer and if the Buyer (Investor) can make a decent enough profit when it comes time to sell, normally after they do the fixing. All you're doing is getting the contract and then selling the contract, if the numbers support it the Investor will buy it. That is what everyone here has been saying about lots of Wholesalers, they don't do due diligence and the numbers don't support what they have been telling the Investors here or abroad. A Real Estate Investor buys the property to fix and flip, and in order to flip it, the selling price should be a Fair Market Value in order to make a profit (and to make sense for an Investor to buy the contract). If the numbers are not correct or if the Investor has to sell the property over the Fair Market Value in order to make a profit the property won't sell, so the Investor has to take a loss in order to make a sale, which don't make sense to an Investor, and Wholesalers wonder why Real Estate Investors pass up on their offers, because they did not do due diligence.

They claim to be the cash buyer. Ok if so why do they ask for a $1,000 refundable deposit as well as a 90 day money back guarantee?????? If they can afford a $10,000 pay out I think they should do what they advertise what they do, help people who are broke etc etc. I someone is broke they can not afford the $1,000 deposit

@Christopher Hunter I was thinking of Listsource.com it was highly recommended seeing that I have found a LOT of empty and boarded up properties in order to find out who the owner is as well as get their addresses for mailers, in order to generate leads. Its costly yes I expect that but its better then going to all the courthouses in my area (Lakewood, Tacoma, etc) and less time consuming in the long run. :) I may want to start small, cheaper that way but still less time consuming

@Summer Segeleon From what I understood, absentee owners maybe hard to find but they are great leads if you wish to buy a Fix and Flip. Lot of times you can get a house/property really inexpensive with them, the hard part is locating them because they ARE out of state and not in your local area. I think the others here may agree with me on this one, lots of times you can get the property way below FMV if you can get the numbers right for a fixer-upper (the costs of the repairs, selling costs etc) but it can be a worthwhile investment so I may consider it myself.

@Paul Timmins Thanks for the links mate including the e-book I just downloaded it. I am listening to the Podcasts, been doing it almost everyday since I first found out about them here, very informative also found other freebie podcasts as well related to what I am trying to learn. Some of the posts here I have responded to, and yes I tend to get long winded, my wife accuses me of writing a book instead of just a note lol. And if I say Mate its because I have a hobby that I do on my spare time when I am not doing anything, something to wind down seeing I don't drink lol, I do 3D Art and one of the groups I belong to I have an online friend who is in the UK and sometimes I get to talking like him lol....Shame I can not show my work here but oh well I do have some fans of my work/hobby and it's something else that I enjoy as well as Real Estate Investing, which is a field I found rather fun when I did it before and yes, like I said at another post, it is hard work but I don't mind getting my hands dirty, I think the rewards justifies that ;)

@Tyrus Shivers & @Christopher Hunter Thanks guys your advice is well noted and taken which I will value highly, I was also thinking of a website as well for getting info, granted the info will cost me money but from what I understand I can get tons of info on homeowners as well as vacant home owners. Seeing what the rules are here I won't put the link down without getting in trouble which I don't wish to do :) Don't wish to violate any rules even unintentionally. But all the insights I have been getting from here, it rocks and I feel I am learning a lot, don't mind me I have my headset on and listening to BP's Podcast right now lol....