All Forum Posts by: Adam Macias

I'd always stick with wholesaling in the beginning because without the ability to source deals, strategies don't matter in my opinion. Plus, if we're talking starting out in terms of coming from a W-2 job and being paycheck to paycheck like I did, yes wholesaling is the way.

The most important factor everyone cares about is how to find deals. They'll study SubTo, BRRR, Fix And Flip, STR, MTR, all this stuff but if you can't source a deal none of it matters in my opinion. Just in time learning vs just in case learning.

Everyone is different though. I love control of the deal. I love being the one people come to for a deal or I can cherry pick which ones I'd like to keep depending on the exit strategy that can be done with the deal.

To piggy back off what Scott posted, I've done numerous deals in probate. Most important factor is in most states you can absolutely sell the house at any point in time during the probate process. A lot of executors/personal reps are told they have to wait till probate is completed. I went to an estate sale one day and asked the Personal Rep, "So your attorney said the house couldn't be sold, but assets like these paintings can, how does that make sense? Isn't property, property regardless of the type?"

We both had a moment of realizing that the house shouldn't be any different in the process. Don't take my word for it, I'm not an attorney and yes each state is different but in Colorado I've talked to over 10 probate attorneys and they all verified this to me.

Disclaimer: This is not legal advice and do your own due diligence. Just giving my input. Just in case a probate attorney sees this, again, this is just an opinionated statement for entertainment purposes only.

(Ask me if attorneys got mad at me mentioning this)

 Go as fast as you can. Burn out is a friggin' myth. Act like you have only 10 years left to live, spend two years giving everything to spend the other 8 doing nothing.

 There's a lot of unknowns here but in my opinion since there's no process cancel the agreement if you don't have a buyers list, title company or any earnest money to put down. We all make mistakes, don't feel like you're taking advantage of anybody. Most assume that if you're a wholesaler you're taking advantage of people, that's an absolute lie people tell who aren't as good as us wholesalers at finding deals.

The two things I'd focus on first prior to getting a property under contract again in any market is having two title companies you're ready to work with and at least 20-50 cash buyers.

Obviously you can Google title companies in the area and contact them letting them know you're assigning contracts but the easiest way to find a cash buyers list to build is to pull a 90 day cash sold list from a real estate agent or get it from software like BatchLeads or Propstream. There's a lot to type about this but please explain what is going on in your journey as a new wholesaler. Lot of assumptions can be made.

Please don't take my message as advice on telling you what to do, it's just what I've done starting out.

Great feedback from everyone. Thank you!

They definitely go hand in hand. Interest rates effect everything, not just real estate but ALL lending still.

Most keep thinking of a housing crash in terms of massive price drops. But what if the market "crashes" due to the United States becoming a renter nation. How high can home prices appreciate before you market gentrify an entire buyer pool? That's my question. If there's any kind of shift, it may not come in price drops. Even then, I think most get so hung up on a crash because they believe deals suddenly become easier to find. A buyers market is a pain in the a** compared to a sellers market in my opinion. I'm a little ticked off at interest rates going up it's been a blast finding a deal at 85% and wholesaling it to anybody. A buyers market means deals take forever in terms of DOM, buyers become ultra picky, now I got to find deals at 69% or below the ARV. A buyers market has so many other problems too.

I know this is about mortgage rates but in terms of the Fed, I think interest rates will go up 2 more times. The first rate hike will be .25 points, the second another .25 points. After all the money The Fed printed the past 3 years, yeah they definitely need their money back.

Do I have any stats on this? No, just thought it'd be interesting to through out a prediction and am curious as to what lenders think is going to happen in the real estate market if the Fed rates do go up two more times. 

Given it's been one whole month into the new year, I'm curious to see how investors are doing in Denver. It's been interesting over the years of my wholesaling career. Geez, I sure do miss the days of finding deals in 80210 at 70% of the ARV but it's been a while since I've done a deal there. The single best zip code I've ever done deals in is 80010. Not on purpose, it's just happened that way for Aurora as a whole. Aurora has always been the best area I've found deals.

What are the best areas you have found a deal in? I'd love to hear what others have to say.

 My friend and I were role-playing, really to make fun of Novations, how to try and actually pitch this to a homeowner. Within 5 minutes we were like, "Who is seriously going to agree to this? 😂" We truly had the hardest time pitching this stupid "strategy". Novations happen naturally because of circumstance and should never ever ever ever ever be a main focus of trying to get a deal in my opinion.