All Forum Posts by: J Zev J.

@Misti DelMar - I'm definitely wishing you the best of luck. Just keep learning more and more about the different angles from which people make money in real estate and you'll soon see how you can create your own opportunities.

@Jazeel Collins - It's much easier for a W-2 earner to get a loan than a 1099 earner. With that said, if you're making substantially more (even after self employment taxes) as a 1099 earner, then it might be worth it to stay a 1099. You can reach out to a credit union and explain your situation and they'll let you know their lending criteria which could help guide you. Also, it wouldn't hurt to talk to some mortgage brokers to get their advice based on your specific situation.

Well, I'll start the answer with a quick pro and con. On the pro side, you can increase the return on equity in your home if you find a good investment to use the heloc for. On the other side, in general, more leverage means more risk. I'll let others chime in on where they stand.

@Misti DelMar - Sorry it's been such a rough time - I hear you. To answer some of your questions, I don't think it will be too easy to get into wholesaling while living abroad. It sounds like you have good business and marketing sense (and definitely good writing skills), so maybe you can reach out to wholesalers and offer to help with their marketing, managing their websites, managing their buyers list, etc. This at least might get you some connections and maybe some type of JV opportunity (like sharing in their wholesales that you market) or partnerships. If you have any connections that can lend you money at good rates you could do small flips from a distance which is possible. I also think coming back and becoming an agent is one of the least risky ideas you proposed to get into real estate. Just some ideas for your next chess move in life.

Hi @Jackie Jiang - I highly recommend working with an attorney before you make the purchase in your individual names. The attorney can set everything up nicely so you're protected and that you don't have unexpected headaches later on down the road.

@Melanie Demastrie That looks like a great return. It's definitely hard finding contractors that aren't spread too thin. 

@Max Kar - well based on his website, @Michael Frank definitely seems to be a great source of information.

@Dale Hogan - I wouldn't analyze it completely like a funnel with avg conversion or transaction rate. I would analyze a wholesaler by their reputation, how much equity they leave you in the deals, and how accurate they are in their rehab estimates. If you put all the wholesalers in your Dallas market in the funnel with that criteria, not many will pass the test but some will. The ones that do will send you good deals repeatedly so then your conversion/transaction rates go up (and up).

Hi @Galit Garsiel - this might not be what you want to hear but I think you should set your goals a little higher. If you're interested in good advice, I would suggest looking at becoming an agent. I wouldn't say it's "low hanging fruit" - but it is a great, accessible gateway into the industry. You'll learn the skills you'll need as you grow, and it will help propel you in the direction it sounds like you really want to go. Anyways, just my $.02.

I wasn't sure if you're looking for off market deals as an investor or wholesaler? If you're looking as an investor, then you can sign up for a wholesaler's list in the area you looking to invest. That's a great way to start receiving off market deal flow. If you're looking as a wholesaler, there's definitely some guides out there that can help.