All Forum Posts by: Sabrina Kane

@Colby Lee Bodoin i would start with a strategy thats less risky. Like wholesaling . Starting with wholesaling allows you to learn and earn at the same time. Youll experience sales contracts, talking to sellers, title company processes, build negotiating skils, build your property assement skills, as well youll build your bank account liquid (cash)

I would do this until you have at least 4 to 10 deals under your belt wholesaled.(depends on profits earned each deal i say 4 to 10)

I would then move into finding a deal for yourself to fix and flip. Because now you have some skin in the game (cash in the bank and experience) .At this level you will gain more skills of dealing with contractors, retailing a property, you will experience and see the home buyers end of the stick,  After you do 1 or 2 deals depending on your profits made.

I would then move into finding a deal to keep for yourself as owner finance WRAP. So still keeping the low risk strategy in place. Finding a subject to property and wraping it off to a buyer who has cash as down payment who can make the monthly payments . Say $1400 per month. $1000 goes to the existing subject to loan the remaining goes $400 to you every month. 

Low risk No landlord heaches about a backed up toilet at 2am. 

If the owners fail to make the monthly payments foreclose on them and you get the house back. Find a new buyer with a down payment to move in the house wash and repeat. 

I am not a fan of buy and hold residental (landlording) 

I like residental owner finance strategies with wraps. (No landlording duties) but you still create ----Cash Flow -

Then my next goal would be finding a small apt complex or if not business center and have a management company in place to do all the heavy lifting. Sit back collect the check

Then go to Bora Bora for 2 months!

Just my thoughts and my opinion theres no right  or wrong way to get started in real estate as long as you start.

The ultimate question is .......

Whats your final destination what are you trying to accomplish dont say money because that has no ending :) Thats your end goal. 

The route i mentioned above will give you a taste of the different areas of real estate on a small scale. From there choose your niche.

As for me i dont like flipping :( found that out once i experienced it. 

Either way......

Trust me the business will teach and reveal itself to you once you get started.

@Account Closed I like how you said that - auh Ha moment 

You're not a social worker - so true. Thanks for that kick in the butt reality check.

I have all the other siblings willing to give POA to the one sister. My hurdle is that one incapacitated sibling.

I think I will just let the deal go and move on. 

I'll consider this closed case unless we have a late comer that chimes in on this one. 

----------------------CASE CLOSED -------------------

Absoultey ... Whats weird is i see alot of people wholesaling deals but i thinks its more selling a lead. They way i wholesale is that ... The property i get under contract i open title and clear all clouds and etc. i do any heirships thats needed and anything that needs to be untangled. Once i get a title commitment ........then i market the property to investors Thats how I've always done a wholesale deal If the deal is anything less or something i cant handle or feel its a headache i will market the opportunity as a lead for a few hundred bucks since i already spent time getting it under contract. Plus I'm at closing 90%

Well I have no problem paying for knowledge especially if its going help me make 1000% more than what I just paid to acquire it. I have seen real estate mentorship programs that are $20K Yes $20K even $50K - so $100 to $500 is bread crumbs. 

If I were teaching I would make it FREE TO START and on your first deal that closes you pay say $2000. I think thats fair, and thats how you know you're going to learn and earn. Learn First Pay Later. 

Thanks 

Sabrina 

Let me know what happens either way. If you need help further inbox me I'll see if I can load it on my end and get it sorted.

5th ward is low grade rental area at the moment Your going to have problems likely with tenant tearing up stuff. It's scheduled to improve but not anytime soon You do better going for 3rd ward area is booming historic district in reconstruction money all over 😀

Try and open the file in Microsoft access it may be a data file and not formatted to be open as an excel or csv file

Thanks @Andrea Vanias for that weigh in ... I did a deal last  month where Grandfather died no will and he had 2 kids who both died. But those 2 kids had  1 kdi each. I signed a contract with the sister and the brother deeded his interest to sister. We did affidavit of heirship on Grandfather and his wife , as well  his 2 kids that passed. We had to get death certificates on grandfather his wife and his 2 kids. There was never a probate.

So Im use to doing these types of cases, but this particular one has a incapacitated heir that cant talk or communicate. He has a case manager that manages his medical care that I do know, so my next move was to try to contact the case manager at the ward and see of she can shine some light on this, matter.

every deal is a mystery and you learn alot lol - I love cracking cases. :) 

Originally posted by @Andrea Vanias:

Do I understand correctly that you have a contract with one of six heirs, and the case is not in probate court? 

@Sabrina Kaneundefined

 Yes correct. .. mom died no will.  So house goes to kids they want to sell but 1 kid is incapacitated in mental ward. Can't talk or communication.

The other kids are willing to deed their interest but that 1 kid is the problem. How I need to handle that. 

@Rick Harmon

Yes I'm a wholesaler, but I never wholesale anything with problems. I always gather all docs cross all t and dot i. Affidavit heirship ,POA amd etc Prepare the closing process and I'm at closing. That's the way to wholesale otherwise anything less is called selling a lead.

Your right and that's what I was thinking about doing just buying from all the siblings no title company purchase. Then quite title. Then resell it.