All Forum Posts by: Samuel Coicou

@Brandon Krieg

Well I've called several title companies in Midland, MI and they all so-far have said they do not insure assignment contracts. Unlucky I guess. Maybe there is one that you use most frequently that you wouldn't mind sharing so I can search to see if they have a branch in my area? I'd really appreciate it. 

Great, thanks for the excellent explanation! While I have you guys here, would you mind pointing me out the name of some wholesaler/investor-friendly title companies in Michigan? That's the only obstacle I have in regards to wholesaling. Thanks in advance! @Jeff Rabinowitz @Brandon Krieg

This is a great thread with a lot of information! I recently made the decision to wholesale in Michigan so this thread was very insightful. I do have a couple questions though.

1) When you two say "you cannot use someone elses money to fund your end" are you saying I have to buy the house outright (in cash) first, and then sell it to the actual buyer right away? @Brandon Krieg @Account Closed

----My wife and I watch marathons of the show when it comes on and we believe it's about 60-65% accurate. The thing is, California is an expensive state and they live in an expensive area. They can do their expensive renovations because they know that the people buying in their area will pay for it. Ex. If they buy a house for $400k add $50k and try to flip it for $520k, in their area there is a market for $500-$600k so they may do fine. In other areas of California they may not succeed even if they tried to sell that same house for $410k after the $50k renovation. 

----Don't trust all of the costs associated with renovations as the two people on the show generally have cheaper costs then everyone else because of their relationships with contractors or reputation in the area because of repeat business. 

----The show is definitely great for several things though.

1) It shows the good and the bad. Sometimes flips do not work out

2) It shows the many ways of doing business (cash, finance, hard money lender, auctions, short sales, co-flip, buying from other flippers, etc...)

3) It shows how to renovate a high-end house. (We will take notes on color/material combinations and kitchen arranges any time we see something outstanding)

4) It shows what type of houses to pass on (bad neighborhoods, busying streets, tiny bathrooms/kitchens, behind highways, railroad tracks, etc... 

----In conclusion, the show has good and bad, just don't use it as a bible for flipping house.

Hi Drew,

I am live and Midland and would love to meet up.

Thank you guys for the tips and suggestions on getting started. I really want to get the ball rolling so I am looking into everything you have posted above! 

Hi all, my name is Sam and I joined BiggerPocket after making the decision to become a wholesaler in Michigan. (Tri-city area) I currently live in Midland, MI and I want to connect with wholesalers and real estate investors to grow my network of colleagues. And more than that, I would like individual who don't mind sharing their wisdom with a young guy.

There are some thoughts I would like to hammer out that only a true blue wholesaler can answer. Example: What are some title companies they support wholesalers? What advertisements have you had the most success using? Etc...

Please check out my profile for more info about me regarding where I'm from and where I'm going. I'm really looking forward to connecting with the generous people of BiggerPockets; onward to financial freedom!