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Updated about 10 years ago on . Most recent reply

User Stats

10
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1
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Scott Hixson
  • Chicago , Illinois
1
Votes |
10
Posts

New investor in Atlanta, not new to re though

Scott Hixson
  • Chicago , Illinois
Posted

Let me share my story, I would love to meet others to partner with or share my knowledge with.

I am not young, almost 53 but have always had the desire to get into real estate investing. In 2006 when I had some money, I bought a 56,000 sf brick retired schoolhouse that I intended to flip but it was on the city's tear down list (DO YOUR DUE DILIGENCE!) so I ended up just getting out with my skin. I was wholesaling used cars at the time and doing about 150 a month but lost everything in the downturn. Then I started working as a broker for Marcus and Millichap (largest investment real estate brokerage in the world) but again the market had other ideas so I went broke again lol

That being said, I have a business plan to start flipping foreclosures. I have my license and know values and the banks requirements so I know how to make money with them. Nothing against flippers, but I realized when I was wholesaling cars that the guys that were buying and fixing to retail were making a bit more on every car but doing 1 or 2 a month so wholesaling is for me as houses are no different in that regard. I am putting together a transactional lender, an llc and the funds for earnest money then I will be set I think? If there are pieces missing, please let me know! I just need to build my buyers list (which I am working on) and get the funding then I should be starting. Thanks for letting me ramble!! 

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