Flipping Formula

[Chad Kerlin]

Last night I attended the Dave & Pete Flipping Formula seminar, which they were not even there. The seminar was helpful, but I should have known it was too good to be true. They offer resources to money and buyers so it sounds great being that I have bad credit and live paycheck to paycheck. At they end though we were told it cost $6,000 for the 3 day training but if we act tonight it will be $2,000. I used $500 of my rent money to reserve a spot and I was going to get the rest from my IRA account. Well I did my due diligence after the class, which I should have done first, and it seems everyone that has gone says at the end they just want another $30k - 40k for you to move forward and access their resources. I want to know if this is true and for someone like me who could never get access to this amount of money what would I get out of the 3 day course. Would I get access to this so called $500k? I think this afternoon I am going to cancel and get my $500 back.

Last and final question.  I know it takes money to make money, but for someone like me with terrible credit, student loan debts, and no saved money, is there a way I can get funds to start wholesaling, flipping, or renting houses?  Here in New Orleans rent right now is crazy!  People are getting top dollar for such small square footage and as soon as properties are listed they are literally rented a day or two after.

Thanks!

[Paul Timmins]

@Chad Kerlin

Welcome. 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 

• 9 Reasons You Couldn't Find A Buyer For Your Wholesale Deal
• Don't Start Wholesaling Until You Read This: Wholesale Advice from a Fix and Flipper
• How to Start Wholesaling: Getting Past The Education and Into the Field

You might consider Niche or Specialized Housing like student 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