All Forum Posts by: Amiris Brown

@Ray Slack

No, I will have to use a loan with 10% down for no PMI. Maybe I could get a hard money lender instead and refinance? It might make the deal more appealing since I'm needing to go so low.

@David Dachtera, I did all that you said prior to posting this. My fear is I'm lowballing too much since by your calculations I should be paying them $275,000.

Please refer to original post located at: https://www.biggerpockets.com/forums/67/topics/343435-low-balling-for-100-000-off-market-value-possible

If a house could go for $320,000 as is in market value how would someone go about contacting the absentee owner losing money as a rental with $50,000 worth of repairs, with an offer no higher than $220,000 but honestly hoping they'll settle for $160,000 to even $192,400? Will convincing them of a price at or under $200,000 even possible? What pitch should I sell them to pull this off?

P.S. I'm a newbie.

@Jay Hinrichs, I hope to one day accomplish the same after I succeed within the Real Estate industry. :-)

@Jay Hinrichs how did she start then if Turnkey came later as a gesture of good will? 

If this person Brie and who is founder of Turnkey-Reviews can excel with a templated website like that, then I really do have no worries as an award winning Graphic Designer and web developer. No offense, @Jay Hinrichs. Their website is ok, but needs work (this is not an invite to involve me, as I'm working on my own online start-up that will start giving me residual income so I can make bigger plays in the Real Estate industry).

I think I'm going to eventually pursue this license sooner rather than later. Thanks for all the advice and in slaying my worries.

@Bill Gulley, which is exactly why I'm seeking mentorship. LOL!

@Account Closed, thank you for that wise observation. I am highly considering this as an option.

Thank you @Carson Sweezy for your advice and humility, in that you were honest about not having read the entire thread yet still contributed.

I will not be an employee, but an independent contractor? This is very good to know. I was a bit confused as I notice many Realtors work with firms. Though my own Realtor had us sign a contract before viewing potential rentals (my fiancé and I aren't ready to buy just yet for ourselves here in the DMV area) and it stated he was an independent contractor. So I assumed some were contractors and some were actually employees, guess my assumption was wrong. I'm new to Real Estate, but while I know some things I can tell you right now I know zero about Wholesaling or about Realtors.

As for my student loan issues, I only need to pay it off along the way so not to have all my Real Estate efforts sabotaged by forced garnishing just as I get started in success. I'm not going into Real Estate to pay off my student loans, I just mentioned it as it is currently wrecking my credit and maybe an obstacle once I start getting substantial money as my bank balance. So it is a concern as I am just starting out, but I think I have a plan.

I have no doubt I can act ethically when fully informed about how exactly to go about Wholesaling. Again, this concept of Wholesaling is a brand new concept and until I see the technicalities of it and the contracts done by those doing it legally and ethically I will remain very wary about going on such a path. I'm especially concerned about any Maryland Law technicalities pertaining to Wholesaling.

My goal was never to Wholesale, but this question came up when 3 Real Estate professionals suggested I start out in Real Estate by Wholesaling. Even the BP video on what to do with $30,000 in cash suggests to still start by Wholesaling. Now I'm not 100% convinced that I have to take this route, but I would like to be fully aware of all my options. My original intent was to somehow obtain more than one property so that my boyfriend and I could have a place of our own to live at a cheaper rate than rent here as well as gain one investment property. However, it maybe better for me to start out Wholesaling, or becoming a Realtor, or flipping, rather than buying and holding from the start. The end goal is to have cash flow, and to acquire as many properties as humanly possible in order to build up a Real Estate empire. For now though, getting a Real Estate license maybe best for me not due so much to Wholesaling but due to the business I am starting that is related to Real Estate along side my aspirations as a Real Estate investor.

Thank you again for your insight. :-)