All Forum Posts by: Scott Johnson

@Scott Johnson asking what’s best for you isn’t necessarily going to give you the correct answer. We’re all different, and what’s best for you could be a waste of time for another person. Just start exploring your options.

@Brieer Doggett, wholesaling is a good way to start because its a great intro to finding off market deals and working with distressed clients. Going right into rentals could be great as well!

Take a step back, decide what your goals are, join a local REIA and start talking to people who are doing each. Talk with people doing different things as well, such as trailer parks, storage and commercial. You'll learn a lot and ultimately find what you're interested in starting with.

From there, as stated above, you’ll want to talk with someone who’s doing it. I like to work for them for free, of they’ll let me, just so I can learn. I’m not super into rehabs, but that’s what I’m learning now, since they’re a great way to get working income.

@Kenneth Mooney, that’s what I’m looking at as well. Sure the lending for homes is reigned in, but students are getting slammed with thousands of dollars of student loan debt that’s been handed out like mortgage loans were back in ‘08.

I’m excited to see what’s coming down the line.

Hey, BP!

I'm about to make an offer on a property for wholesale, and since it has direct access to the Pungo River via kayak, I thought about it's use as an Airbnb. After looking at the map, though, my thought is that this would not be a beneficial location since all of the others are downtown. Can anyone who's done an Airbnb Vacation please provide their insight? 

Thanks in advance!

@Annette Hardge you can Wholesale FSBOs as well. Turn on a keyword alert for “wholesale” here in the forums as well and you’ll find some good information coming down the pipeline.

@Jerry Puckett, exactly what I was thinking! I’m waiting to see what happens after it’s up for a bit longer.

Wholesaling varies by state. Find a local mentor who can help you and show you the ropes. It helps to learn from mistakes they’ve made, so you don’t repeat them.

Just be very up front and honest with the seller about what you’re doing. I don’t go as far as to tell my sellers how much I’m making, but my buyers really don’t care how much they’re paying as an assignment fee, as long as the deal as a whole is a good one for them.

Just stay legal and use a strong contract. It’s a fun game and you’re able to help others while helping yourself!

@Miguel Luna, yea I’d try to find a mentor that’s wholesaling. I’ve never done an “on market” wholesale, so I can’t be of much more help on this.

 Everyone's entitle to their own opinion.

@Barry Pekin, there are times this is done. I do it on a caee by case basis. Usually, i stick with our seller and buyer through the close and get my check from the attorney. It’s a way we add value for our clients.

@Tyler Bobo, talk to a local real estate attorney or find a Wholesaling mentor that will include the contracts they use in your training. Needs a purchase price, money down (I use $10), the ability to assign and EXIT CLAUSES amongst other things... did I mention EXIT CLAUSES?