All Forum Posts by: Christopher Johnson

@Brandon Dumbuya thank you for that information. I may reach out to you personally once I have my first investment under contract if that’s ok.

@John Lyszczyk

Thank you for that information. I will take that and run with that! I was just in a bit of a brain fog, couldn’t figure out whether or not now would be a good time but I have not used all my resources to determine that answer. I will be giving some of the agents in Atlanta a call here shortly.

Greetings BiggerPocket Community,

I am looking for someone in the Atlanta area with experience who can sorta mentor/guide me. I am a 26 year old recent college graduate. I work in IT and have a stable career. I have decent credit and have been saving for quite sometime.

I know these times aren’t the best in terms of renting out space with this virus getting worse but I’m thinking about my future in terms of retirement. Should I hold off on purchasing my first investment property. Should I find a condo in a good location? What are good areas in Atlanta to buy right now?

Any insight would be appreciated. Thank you all again!

Respectfully,

Kristopher J.

Thank you @Matthew Laggis i will indeed make a list of everything you said and commit to all of those strategies. I know exactly what my investors want, so hopefully by doing what you suggest that deal finds it way to me, thank you again.

@Arash Zandi i found a good number of my investors from rei meetings around town, they go to those meeting specifically to look for wholesalers and we as wholesalers go there specifically to look for them. So talking to them face to face shows them you are serious and you can develop a relationship with them as well as finding out exactly what they want. Then when you follow up with them they will love it and be ready on your move for the next time you call because they know you are serious.

I have gone to rei meetings and i have followed up with real investors. Many of which need houses in surrounding counties. I have also found investors elsewhere, have a solid 10 investors, 5 of which know i can work with on a continual basis. For those who are experienced, how do i go about finding them deals now, especially in different counties. Any strategies, don't have much gas to drive for dollars much less drive to those counties. I don't want to ask an agent for they will want a percentage and anything they have access to on the market everyone does. Any good ideas as far as how to generate, also there are quite a few houses i see in my surrounding neighborhood that have a for sale sign in the yard being sold by a real estate company, do they hold any value to me, is there a way to make money off of houses like that. Just curious, i didn't know if i was passing up deals daily or if they have know use for my type of service. Thank you, any helpful suggestions will be highly appreciated.

I just read this article as i am fairly new to what you are doing, i know its gotta be tough being the situation you are in but stick it out and i'm sure you've learned from what didn't go right. I hope this scenario helps.....

For example, if you buy a home for $100,000 with hard-money loaning 100% of purchase price and financing $35,000 in repairs. The total loan is now $135,000, you fix up the home and refinance using a Fannie loan, which will loan up to 75% of the new appraised value. If the appraisal comes in at $185,000 then you could finance up to $135,000, but Fannie guidelines will not allow a cash out refinance. You would be able to refinance the full $130,000 that was loaned to you buy the hard-money lender. This technique can be rather expensive, because you have to pay the higher interest rate on the hard-money loan, the initial points and then the refinance costs with Fannie Mae. However you just bought a long term rental and fixed it up with almost no out-of-pocket costs!

Thank you thank you thank you, @Justin Fernandez your words are highly appreciated and have touched base. I hear you %100. I like that metaphor with the burger shack, it felt like i just woke up like duhh lol never looked at it that way. Its now time to dive, if i want to live then i will have to swim. @Jeff Rappaport Thank you for that valuable information, i will indeed use what you have said to guide me through. I am definitely going to take you up on your offer in the future for more brilliant suggestions. @Crystal Aasir You know exactly what i mean being the fact you are from Atlanta, it was a bit intimidating at first but i have the type of heart that once i set my mind to it I will achieve it and work it all the way through. I just didn't want to be the one sprinting on a treadmill, overworking to get no where. I do feel we should definitely stay in touch and connect soon. Like you said we should use each other to help each other. I hope and wish the best of luck to you throughout your wholesaling journey, i hope the words from these post have helped you as much as its helped me.  

Hello my fellow Biggerpockets family,

Kris here and i am currently in Atlanta. Ok, so i have been educating myself on real estate investing for a little over a while now. I know the different types of investing and have chosen my niche, which is of course (wholesaling), being the reason of choice strictly from financial lacking. I understand the different types of investing and making profits without having to spend any of your own money. I am fully prepared to endure and work as hard as i have to. I am not making excuses, however there is a huge difference between hard work and smart work. Obviously i don't know the market the way i should, but before i dive in... i want to know if wholesaling is totally washed out. I mean its 2015, doesn't seem like their are many new individual wholesalers left, maybe that might be a good thing but what i don't know is, before i put the amount of time i am about to devote towards finding distressed houses, filing lease options, assigning contracts, etc... is there still business out there to be done. Does wholesaling happen on a daily basis, it seems like the only real opportunity i have at any profit is primarily from off market houses. Again maybe i'm suffering from beginners fear, i want to put in the work, just not if its not there. Hopefully someone understands, seems like the market is already flooded with bigger businesses already doing what i will be doing which would leave me without. 

Hello my fellow Biggerpockets family,

Kris here and i am currently in Atlanta. Ok, so i have been educating myself on real estate investing for a little over a while now. I know the different types of investing and have chosen my niche, which is of course (wholesaling), being the reason of choice strictly from financial lacking. I understand the different types of investing and making profits without having to spend any of your own money. I am fully prepared to endure and work as hard as i have to. I am not making excuses, however there is a huge difference between hard work and smart work. Obviously i don't know the market the way i should, but before i dive in... i want to know if wholesaling is totally washed out. I mean its 2015, doesn't seem like their are many new individual wholesalers left, maybe that might be a good thing but what i don't know is, before i put the amount of time i am about to devote towards finding distressed houses, filing lease options, assigning contracts, etc... is there still business out there to be done. Does wholesaling happen on a daily basis, it seems like the only real opportunity i have at any profit is primarily from off market houses. Again maybe i'm suffering from beginners fear, i want to put in the work, just not if its not there. Hopefully someone understands, seems like the market is already flooded with bigger businesses already doing what i will be doing which would leave me without. 

Hello all, I am still relatively new. Still a bit confused on these different strategies I continue to hear about. Unless its the different niches that I know of that have run me off the road constantly. I am determined this go around to get it right, i tried starting before with no cash and got turned in so many directions that i was back to my daily routine, attending college and going to work without even realizing. One of my main concerns in the beginning was finding a mentor that i could work closely along side of in order to understand it better. I have read numerous books, articles, magazines etc. I will not let anything stand in my way, I am arriving closer and closer to graduating from college with my bachelors in business soon to go off and get my MBA. Getting my masters will be one of the things in life that will put me in extreme debt, and if not thought through, could have me paying it back well into my thirties. Idk though, maybe i am just stressing a little to much for my age (which is 20), and also please excuse my raw uncut use of grammar, felt like the only way to relate to you all would be to explain as best i could, where i am coming from. Currently I have no cash, I have a bit of knowledge, and I know what niche I want to fall into, but i still feel as if i'm missing out on something. Does anyone know which niche would be best for me to make money from with no money? For those who have started off with nothing at all, please advise? Any and every bit of knowledge will be much appreciated. Also i have already read the biggerpocket intro, I am currently looking over it day to day. Thank you all again!!!