Will from Dallas Fort Worth looking to network

[William Herron]

Hi, I just moved to the Dallas Fort Worth area from Virginia, prior military. I've dabbled in wholesaling back in 2012 and 2016. I never successfully Wholesaled a property, but I did put property's under contract, put out bandit signs, worked with investors, motivated sellers and realtors. Looking back on it, I learned a lot and am now more mature and ready to treat my business like a business, be committed and immerse myself in these books and webinars like never before. I currently have (1) rental property back in Virginia that is being rented out by a property manager. I work a full time job as a Fleet Manager and like the idea of passive income coming in month after month rather I'm working or not. I believe that wholesaling is the best way for me to learn the market here, network, learn and make some quick cash. I will eventually rehab some properties and then purchase more rentals. My wife is currently getting her realtor license and I am considering getting my contractor license, but that is down the road. I am willing to partner, or work for free for a investor in exchange for learning how to rehab. My biggest flaw that I ran into was learning how to estimate repair cost, which in turn led to some of my deals not being great deals. If you want to link up, please send me a email and I would love to chat! Good luck and let's do some deals! Will

[Michael Lee]

Hello and welcome to BP!  Thank you for your service.  I was born and raised In Dallas and now live in Coppell (NW Dallas County).  I am 60 years old right now and was in the construction business since I was 17.  I did also have a real estate broker license for about 30 years but never did that full time.  I had a pretty bad medical injury when I was 54 and I am still recovering.  I still am not walking but have not given up.  I still think that I am worthwhile for another 10 years.  I have pretty good genes because I still have very few grey hairs on my head.

I am open for any proposal you might have for me.  Whatever you choose to do pick something you like and keep it simple and the average of that neighberhood.  Use people that are local and experienced at what you do as Team members.  Team members are helpful to you and are usually good for you to use.  Stay in control of things you are responsible for.  Do not assume anything will happen.  

There are a few things you ought to do after you select your niche and your market area. The first thing is to form some time of corporation or a LLC. That might need an attorney, a CPA, or a Tax Consultant to advise you on the best way to go. That will help keep your personal things beyond the reach of others that file legality against your business. Another thing you should do before offering is , if necessary, is get your financing figured out with a definite lender that should supply you with a loan letter that states the average closing time and the maximum amount you qualified for.

You can include a copy of that with your offers.  This might give the owner more confidence that you can close.  The next thing you usually do is locate your office that is convient and has a minimal distractions..  You can locate your office in your living place as long as you can close it off and has a minimal distractions.  Trance all of the income and expenses you are responsible for in report form and review that regularly with other people you trust and could help you reduce your expenses and possibly increase your income.

 Make others what your goals and they understand them.  Do not trust what others are title on their business card because you might not know but you might be more knowledgable than them.  First let them prove their their trustworthiness until you set them free. Know that mistakes, fear, and failure are pretty normal in this business.  Learn from any mistakes made, turn any fear into a positive thought, and do not let any failure make you quit.  Just keep on going.

Good luck to you!