All Forum Posts by: Account Closed

There is an old person saying:

One who knows that he knows is wise and should be heeded.
One who knows that he doesn't know is eager and should be taught.
One who doesn't know that he knows is asleep and should be awakened.
One who doesn't know that she doesn't know is a fool and should be shunned.

@Keith Burton

Yes.  If you can get that many out.  If not, lower your expectations on your response rate.

One thing is for sure.  Wholesaling is not passive investing.  Neither is flipping.  Both are full time jobs.

If you don't have the time to devote to either to do them well, passive investing is the way to go.

"I am afraid of the joint venture quest , I do not want to be taken advantage of."

That's the problem with trying to wholesale when you don't know what you are doing or how to do it.

First of all, that's easily managed. 

Second of all, it seems you are after free consulting via this website.  You want us collectively to hold your hand to coach you to a payday on this deal without paying us anything in return for the years and dollars we have spent learning the wholesaling business.  You don't want "to be taken advantage of" but have no problem taking advantage of other people.

Doesn't that seem a little one-sided to you?

Hmm.  This is one of those times you need to consult an attorney instead of asking for "around the water cooler" advice here.

Yep

What were the terms of your contract?  As-is, where-is, how-is, caveat imp tor? If yes, you may have a claim against your inspectors.  If not, you probably need to consult an attorney.

There is no such thing as galvanized copper piping.  There is galvanized steel and copper, but not galvanized copper.  Galvanizing copper is a chemical impossibility.

Projected lifespan of galvanized piping is typically projected at 60 years, but it can be less or more depending on the water quality of the source.

Copper is generally projected at 80 years but same caveat.

Lifespan of plastic is for all practical purposes, infinite.  However, PVC can break fairly easily so PEX has generally replaced it for supply lines.

"If it ain't broke, don't fix it."  No need to replace the water lines unless they show signs of significant corrosion and are leaking.  If it the pipes are leaking, they are just about rusted through and due to burst.

@Amanda Sutherlin

There is a guy in Springfield Ohio who publishes a guide with everything you need to know about raising and using private money.  He's been the "go to" guy on the topic for years.  His guide really isn't that expense.

I can't mention his name here even though I have absolutely no stake in anything he offers because the BP police will flag it, but just to a websearch for "private money springfield ohio", and you'll find it.

@Abraham Hirsch

Right attitude and approach!  Congratulations for putting a little thought into what it requires to be successful at this instead of just running out there and trying stuff.