All Forum Posts by: Rocky V.

I have $0 marketing budget and primarily buy on the courthouse steps at Trustee Sales.  "Caveat Emptor" and do your homework.  You must be familiar with researching title to make sure you are buying 1st lien position.  With that being said it is a great source to buy at and you must have plenty of liquidity.  Also Auction.com is a Trustee to many banks so they'll be at Trustee Sale as well.  In the area I buy at there are plenty of people but few bidders.  Best of Luck!!

A lot of negative responses.  Must be competitors or those that half-*** tried and failed.  I'm not a wholesaler but I've been an investor for nearly two decades and pay wholesalers big money to bring me deals.  I believe it is a good way to start as long as your willing to do the time and go door knocking.   You must educate yourself and have true end buyers.  My biggest recommendation is to do bandit signs ( I hate them but it is an effective and cheap way to get business ).  Here are 2 recent photos of money I  have paid out to wholesalers.  The $39K was to a new wholesaler and the 2nd was an assignment fee to a wholesaler I use often.  He is in his early 20s and gets the foreclosure list and starts door knocking.  You have the knowledge at your fingertips, you just have to execute.

I've used a flat fee service but prefer to use a Realtor that charges 1% instead.  Takes much less work and you have someone you can communicate with.

Could have put $10K as earnest money and $3k option fee (not sure if your state uses these).  This would have shown seller you were serious enough to lose $3K. 

@Tanya Lechner in the DFW area they'll easily mark it up $10k+.  @David Saucedo my business is booming and I don't do any marketing.  You're making excuses and you should be making progress.  Get with a few local wholesalers and start reading up on courthouse purchases.  

I'd have to agree with @Jay Hinrichs on this one.  Many meetups are just colleagues BSing and sales pitch after sales pitch.  While this is great for a newbie investor once you reach a certain point it is time to take action.  No BS and GET IT DONE!!

I'd never even think about going to a meetup that prohibits certain individuals from attending.  There is plenty of biz to go around.

I have several sub2 deals and "knock on wood" no lenders have called it due.  I actually call them to notify that I'll be making payments and they never have to worry about a late payment again.  They just want their money ;)

Depending on the amount I would require a 1st Lien Deed of Trust.  This will secure your interest in home and make sure everyone follows through.  I have silent partners on some of my deals and this is always preferred.

A big NO!!  Maybe the sprinkler system but I would definitely check to see what other comps have.  Your better off getting granite tops, upgrading fixtures or even painting garage floor.

@Scott MacArthur You are correct.  I am grabbing up several rentals about 30-45 mins from DFW.  They are performing well and we still go through vigorous screening.  I don't see these areas appreciating like cities within the metroplex  but they do cash flow like crazy.  Everyone needs a place to live as long as I don't see a lot of vacant properties I'll buy the deal.  I own several in the $1600-1800 price range as well but they were acquired several years ago.  Taxes are going up like crazy on those properties.