All Forum Posts by: Account Closed

The best starter book is called "Commercial Real Estate Investing for Dummies.' 

I agree. I have been a wholesaler for more than 17 years starting in St Louis MO doing preforeclosures and now in Orlando doing lots of distressed properties. I have built my business where I now have over 50 off-market properties all over central Florida for sale. I also have 25 small (less than 50 units) multifamily in Chicago IL. I'm helping investors find deals that they could find themselves. 

No I'm in Orlando FL

My advice to new investors is to start wholesaling properties. This does not require much of any marketing money to start and to get deals closed.

First pick a neighborhood that you are either in or close to. Driver around all the streets and look for vacant houses. (Not by using Google maps because they can easily be outdated pictures) There should be some.

Then look in the county assessors website to find the owners. it should give their name and mailing address. Send them a letter (not yellow letter because they are getting dozens of them) telling them you found their house to be apparently vacant. But if it is obviously abandoned, say so in the letter. Tell them you will pay them cash for a quick close. Write it up as a personal letter.

When you do all that, then contact a local RE Agent to give you a list of all the houses in that neighborhood that have sold in the last 5 years with all cash. That typically is investors. Then again go to the assessors website and find their name and mailing address. Also do a name search on the assessors website to see how many other properties they own. If they own several they are obviously investors.

Once you get a response from the seller of the vacant house, negotiate a deal to buy it for all cash and get it under contract. Then immediately contact all the cash buyers you just found that buy properties in that neighborhood and tell them about the house and would they be interested in buying it. If you negotiate a good enough deal that pays you then complete the transaction with the investor to buy the house you have under contract.

Once you have done all that with that neighborhood, go to the next one and 'rinse and repeat.'

I hope this helps.

Steve Anderson

How many deals have you done and for how long? What is it you're looking to learn?

Are you an agent? It appears you have access to these CCIM courses. 

Check out Multifamily Investing Academy with Charles Dobbins. 

Also Lance Edwards Multifamily Success Home Study System

Just google them and you will see their websites. I have joined both of them and get great training.

What experience do you have in real estate investing?

Put in the contract (not in the buyers name slot) 'This contract is assignable.'

That is imperative. That is why you use a title company to make sure nothing goes wrong.

The title company that you use is instramental in making that happen. You have to have a contract with you buying the house and another one where you sell it to another buyer. Let your buyer know you have a contract and you are selling it under those terms. I have never used transactional funding because the title company used my buyers funds to fund my purchase.