Getting out of military soon, real estate newbie!

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Getting out of military soon, real estate newbie!

Sean Harold
Nolanville, TX · Member since 2014 · 4 posts · 1 vote

Currently in central Texas but will be back in Northwest Ohio beginning of next year. Would gladly appreciate real estate advice on wholesaling. Any help would be great, thanks!

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  • Elizabeth Colegrove
    Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    12y

    Welcome to BiggerPockets!!!

    My husband is active duty Navy and we are buy and hold investors. While I can't provide any incite in wholesaling definitely type it into the search box. You will find tons of great information. There is also great podcasts and blog posts on the subject.

    0Reply
  • David Rupp
    Rental Property Investor · Columbus, OH · Member since 2013 · 117 posts · 16 votes
    12y

    Hey @Sean Harold welcome to BP, and thanks for your service. I am just beginning wholesaling, so not sure how much help I would be, but feel free to hit me up when your in Ohio. I love meeting new people. 

    0Reply
  • Sean Harold
    OP
    Nolanville, TX · Member since 2014 · 4 posts · 1 vote
    12y

    Thanks @David Rupp that would be great.

    0Reply
  • Jeremy Davis
    Canal Winchester, OH · Member since 2014 · 151 posts · 55 votes
    12y

    @Sean Harold Welcome to BP! and central Tx huh, I'm assuming FT. Hood? I was stationed at Ft. Hood form 06-2013 with 1bct 1st cav. Anyways do some research into wholesaling in ohio it is a giant debate right now if its legal or illegal. the 100% legal way to do it is buying it and then selling it right away for a profit. the issue because when you are selling a contract and not the property my advice is talk to a good real estate lawyer! if you head to the columbus area id love to meet up for a beer or a coffee and i can give you some numbers to great guys who can help with a lot of things! 

    0Reply
  • Sean Harold
    OP
    Nolanville, TX · Member since 2014 · 4 posts · 1 vote
    12y

    @Jeremy Davis yes I am with 2bct 1st cav. Thanks a lot I did not know that it was up in the air like that. Do you wholesale in Ohio?

    0Reply
  • Joseph Heath
    Real Estate Investor · San Antonio, TX · Member since 2014 · 14 posts · 1 vote
    12y
    Sean Harold welcome to BP, and congrats on closing out your service. Good luck!
    0Reply
  • Paul Timmins
    Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    12y

    @Sean Harold 

    Welcome. Thanks for your service. Fill in the foundation below.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 70 past ones to catch up on.

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

    Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

    Couple good reads 

    You might consider Niche or Specialized Housing like student housing, vacation rentals and military housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good Luck

    Paul

    0Reply
  • Andrew Cordle
    Real Estate Consultant · Alpharetta, GA · Member since 2014 · 661 posts · 400 votes
    12y

    @Sean Harold

    First and most importantly thank you for your service!!!

    Secondly, I do a lot of investing somewhat near you in NWI a couple hours away. But I do know there are a couple good reias over in your new area. You may want to check some of them out. As it is always a good local starting point. I am not sure how far away you will be from Toledo but Anna Mills is the president there and it is a great local club. 

    In the meantime:

    Here are 7 tips to help you grow your business using BP:

    1. New to BP?

    2. Develop your own business strategy. -- Don’t just be a “jack-of-all-trades"

    3. Grow your business by developing your business plan. - Remember there is a difference between goals and a plan.

    4. Locate and attend several different local REIAs as they’re great opportunities to network and meet wholesalers, lenders, and contractors.

    5. Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!

    6. Spend 30 minutes a day on Bigger Pockets by connecting with “colleagues,” perusing blogs and videos, and engaging with others on the forums:

    7. Set yourself up to receive free alerts to be notified of subjects that interest you:

    Keep in touch and again thanks for your service.

    Andrew

    0Reply
  • Tom MolePro Member
    Investor · Sunland, CA · Member since 2013 · 260 posts · 240 votes
    12y

    Welcome to the BP community @Sean Harold.

     Where do you call home in NE Ohio? I have investment properties in Youngstown, though I live in Los Angeles. I love to discuss investment strategies with you sometime.

    If you only read one book in the next week make it,

    BiggerPockets Ultimate Beginner's Guide

    It's a free download and covers all the bases for getting started in RE investing.

    Unless this is too nosey, can I ask, why are you looking into wholesaling? Provided that your mind is made up about wholesaling (don't get me wrong, I don't have a problem with wholesaling), I might be able to introduce you to a big time wholesaler out here in the  Los Angeles area who's investing in the Cleveland area right now. Let me know.

    Congratulations and thank you for your service.

    0Reply
  • Darrin CareyPro Member
    Lender · Dayton, OH · Member since 2008 · 1k+ posts · 705 votes
    12y

    @Sean Harold Welcome to BP, and thanks for the service. I retired from the USAF a few years ago, and have done real estate exclusively since then.

    When you get to Ohio, check out the REIA in Toledo. I know some of the people there, and they're very helpful.

    If you have any questions, feel free to hit me up.

    0Reply
  • Timothy Gleason
    Military · Pensacola, FL · Member since 2014 · 53 posts · 63 votes
    12y

    @sean harold Great to hear about your transition plan! It seems that RE plays a big part in many military exit strategies around here!

    0Reply
  • Sheri Ulm
    Real Estate Investor · Norwalk, CA · Member since 2011 · 118 posts · 25 votes
    12y

    welcome to BP and Thanks for your service!!!!! You will find a wealth of information here. Definitely check out the links others have posted above... They contain tons of great info.

    0Reply
  • Sean Harold
    OP
    Nolanville, TX · Member since 2014 · 4 posts · 1 vote
    12y

    Thanks! I have already begun reading the ultimate beginners guide it has already taught me alot. @Andrew Cordle, Toledo is where I will be so thanks for that info we'll keep in touch. @Tom Mole wholesaling seems more realistic right now granted I'm on military salary so I don't have too much to start out with, but my bigger goals are to buy properties and rent them out.

    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    12y

    @Sean Harold welcome to the site.

    0Reply
  • Dave VisayaPro Member
    Moderator
    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    12y

    Hey @Sean Harold welcome to the site! It's great to have you!

    BiggerPockets
    0Reply
  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    12y

    Hey @Sean Harold thanks for introducing yourself! It's great to have you here! Don't miss The BiggerPockets Podcast - they are great for learning how others are finding success.

    By the way - here are my favorite articles on Wholesaling:

    Oh - and be sure to set up some Keyword Alerts- especially for "Nolanville" so you'll be notified when people mention it here in the forums.

    Thanks again for introducing yourself!

    Podcast Guest on Show #92
    0Reply
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