All Forum Posts by: William Johnson

 You contact me and I will buy your contract from you as long as it is a deal. Or if you don't have a contract I will pay you a finder s fee.

@Chris D. I would love to help you out, bring me 5 promise to purchases where you have offered 60 to 70% of the municipal evaluation.  To be safe make sure that they are perfectly renovated houses.  They don't have to be accepted but they need to be signed and at the very minimum rejected by the owner.  Make it conditional on home inspection and financing.

That is what I need to know that you are serious about it, otherwise I don't have time.

You need to love real estate, and be willing to work hard and be willing to hear thousands of people say no to you...most in a very impolite way.  You need to be willing to work your tail off consistently and you also need to learn how to evaluate a property with the same accuracy as a real estate appraiser and estimate repairs extremely accurately. You need to be a networking professional who can gain people's confidence and trust. Did I mention that you have to work hard? Every single person who has contacted me interested to learn about wholesaling have meet with me one time and then have given up without even putting in one offer. Most people will give up on wholesaling without even putting one offer in.

Thanks for the mention @Brian Gibbons 

I am receiving a tremendous amount of assistance from Brian about how to build my business. The most important thing that you learn from him is something you can't learn from reading on here...how to talk and negotiate with the buyers and sellers.

Using the awesome techniques that I've learned from you I'm very confident that I will get my first rent to own shortly.  The key is to get the tenant buyers qualifying themselves immediately and you gave me tools and the understanding of why I needed to do that (I paid for it as well)).  I can honestly say that without that key part of the interaction I would be about 90% less powerful in my conversations with tenant buyers.  

There is much more than that but, that alone will be worth 100's of thousands of dollars to me. 

 @Brian Gibbons was very valuable to my business...that being you had better be prepared to work your tail off.  He is obviously very experienced in real estate deals and has gotten that way through tenacity and hard work.  He expects that from his students and, you had better be prepared to put yourself outside of your comfort zone.  BTW the 20k was a wholesale deal which is even better than a 20k flip.

I would counsel anyone just starting out to get into the buy and hold investing if they find it suits their personality.  Personally I will do that eventually just as a vehicle to hold my profits from flipping houses in a way where it will grow at least at the same rate as inflation.  I am in wholesaling, rent to own and other creative forms of financing because it suits my personality (highly competitive and in need of constant stimulation).

I believe, however that buy and hold investing is far and away the best and most reliable method of building wealth compared to wholesaling and flipping.

@Kyle Turret 

Assigning a contract for a monetary consideration is totally legit as long as you go about doing it the right way. http://www.recbc.ca/psm/assignment-of-contracts/ The real estate council in British Columbia even goes so far as to offer the aforementioned guidance to agents on how to legally do this with their clients

That being said a wholesaler has to know the market even better than most agents do and have to be networking machines (in order to have buyers lined up).  Wholesaling is legit and is doable but I sincerely don't recommend it as a way to start out.  If I had to start all over again I would start out in a more vanilla way such as becoming a real estate agent or, a building inspector.  An inspection is one of the most important insurance clauses to put on an offer and, if you are an inspector you are already making a great income and, when you do offers and wish to wholesale them you give your cash buyers that extra assurance.

@Roy N. Est-ce que c'est juste moi ou es-tu un petit peu sceptique à propos de Wholesaling au Canada comme façon de faire de l'argent ? ;)

Good luck!

 @Richard Zuptich the mind is a tricky little bastard sometimes.  If you take all the responses already given to your question and you apply them day in and day out for the next ten years then you will succed...unless you due before 10 years is up.  The only thing left to do is to make the decision that you will do what it takes. The question is will you use your energy to find excuses or solutions.  You will continuously have problems, hurdles and obstacles to overcome.  Be happy for that because it filters out most of the competition!

I know from experience that you can make money in real estate without any money of your own.

 Thank you @Chris Perry I appreciate your encouragement!  I am actually expanding my repertoire of exit strategies to a couple of other low money down strategies.  Hard work but I know it will pay off eventually.