All Forum Posts by: Ty Primers

@Michael Ablan I'd do a double close for sure but I just wondered how possible it is to do this when everybody has the same access to view them but I feel the best route is to track them from the time they are being sold at the auction and tie them up as soon as when they make it to the REO lists.

@Michael Ablan you mean as in double closing or just buy it and hold on to it for however long until I decide to sell?

@Jason DiClemente so the trick to doing it right is just getting them earlier than everybody else?

I’ve been hearing about some investors wholesaling REOs and I’m curious on how this works when investors have the same access to see them as we (the wholesalers) do? I could see negotiating a lower price than listed but I’m sure it wouldn’t be much of a difference after adding an assignment fee. Can someone that frequently does this explain to me how it works?

@Jay Hinrichs thanks a lot!! I truly appreciate the advice and I hope you come across and close on your largest most profitable deal tomorrow!

@Jay Hinrichs so to get going on my first build is it as simple as buying the land, getting plans and permits approved, finding a builder at the right cost, getting a construction loan and then finding a buyer after it’s finished?

@Jay Hinrichs would “spot building” be a good entry point for someone who looks to become a developer though? Like I said above I do plan to do subdivisions and other bigger projects later on down the line but without a starting point I’d imagine that being kinda hard to do

@Seth Holmen

@Seth Holmen thank you and that’s understandable, I actually wanted to switch my major into architecture because I know it would help with not just the design stages but also being able to oversee the entire building process from permits to project management. but I felt like the time it would take to complete school, and how much student loan debt that would be, made me consider drafting as more of a faster way to enter the work field to work under someone to get the experience but The role of an Architect has always fascinated me.

@Jay Hinrichs thank you as well, I will definitely explore those 2 options but as far as borrowing capital goes, I was thinking more of starting small, building a 900-1100 sqft spec house in a market that the numbers made sense and work up from there. I like the idea of starting small and saving/reinvesting my profit until I have my own capital and won’t even have to think about the word borrow.

What would a 24yr old college student with a Drafting and Design major have to do to get into real estate development? I’m currently building my wholesaling business by building my buyers list and marketing to vacant home owners but my overall goal is to buy acres and build my own properties to flip (Eventually whole subdivisions), not so much because it would be more lucrative but because that’s something I actually set out to do and I want to hear from anyone that’s actively doing so on what it would take to get this going? Like realistic steps