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Updated about 11 years ago on . Most recent reply

User Stats

37
Posts
1
Votes
Anthony Bell
  • Lansing, MI
1
Votes |
37
Posts

So close to my first deal I can taste it. Few questions though..

Anthony Bell
  • Lansing, MI
Posted

I am so close to first deal I can almost taste it! I've been talking with a man who has 2 properties he's trying to get rid of ASAP. One is a rental that currently has tenants living in it. The other is a vacant house but it has a mortgage on it. Together they are worth 91K and I offered him 45k and he accepted. I know I have to get them under contract but where I am confused at is what "strategy" to use. (I am not taking over the lease and not becoming a landlord. I'm looking to get these to an end buyer). Are these just simple wholesale deals and I just use a purchase and sales contract? Or is there some other contract I should be using to get these houses under contract? Thank you!

Most Popular Reply

User Stats

1,468
Posts
914
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Robert Leonard
  • Investor
  • Lafayette/Baton Rouge, LA
914
Votes |
1,468
Posts
Robert Leonard
  • Investor
  • Lafayette/Baton Rouge, LA
Replied

@Anthony Bell Put your mouse pointer over "NETWORK" in the blue bar at the top of this page and click on "FIND MEMBERS" use the "SEARCH FOR LOCAL MEMBERS" by zip code feature to find a wholesaler near you. Tell them you are looking for a wholesaler who will pay you a finder's fee, BUT only if they will allow you to shadow them to see how this is done. You won't maximize your profit, but you will learn from an experienced investor and I think that's a smart approach.

People say you learn from your failures, but they don't have to be your own. Keep using the resources here to learn. For this deal, I think you will learn a lot from an experienced investor to help you connect the dots to understand all of these bits of information. This is a relationship business and you will probably be able to help each other in the future.

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