All Forum Posts by: Anthony Ciafre

Jardin,

• Is wholesaling a realistic and sustainable strategy today?

Yes it somewhat realistic and a sustainable strategy.   However it takes a ton of work and hustle.  I've tried to take a few newer wholesalers under my wing (I didn't charge anything just offered to dispo their deals and we'd split profit).  All of them fizzled out.  You'll work your tail off in the beginning without see much results.

• What are some common pitfalls or legal risks new wholesalers should be aware of? 

My main concern with wholesaling is the future of the business. States now are starting to put in more laws that limit wholesaling. In SC it's a grey area whether you can market a property of not, nobody really has a full grasp on the law. VA you only can assign one property for an LLC therefore you have to open up all the LLCs which cost money.

I wouldn't text, again this is a grey area.  

Lots of competition because a low barrier to entry. 

• For someone working full-time and in school, what’s the best way to start ethically and effectively.
• What are some things you wish you knew before your first deal?

I always tell people you have to know who you are.     Are you a person who is always going, never gives up, do you brush off rejections, etc?

You either need, time, money or expertise.   We know expertise right now is not an option.   If you have money you can send direct mail to get leads out but its expensive (in the thousands monthly).  If money is an issue you need to understand you'll be making a ton of cold calls 50-100 a day, door knocking, getting your head bashed in and driving around looking for distressed houses.   Whether your colding calling, sending mailers, door knocking how do you feel about calling a property owner 15 times in 72 hours to get a hold of them?

If I'm truly describing your personality/mentality you'll do well, if this isn't you go to a few local REIA events/Meet ups, talk to different people about their RE strategies and chose the best one that meets your personality/mentality that you could see yourself doing long-term.

Gastonia, NC

Thanks all, and I'm in NC

 Thank you, I like this idea..

Thanks Patrick

Any suggestions on a RMLO?

Hi all,

I just ventured into selling some of our properties on seller financing and realized Dodd-Frank prohibits issuing more than three notes in a twelve month span.   Outside of opening up my own MLO company are there other ways to increase the volume of loans I can make yearly?

Are there recommended courses, youtubers etc to follow to help out in the learning process?

Thanks

Tony 

Hi all, newbie here so I apologize if this topic was already discussed.  I'm interesting in investing in a MHP Fund.  Does anyone have experience in investing in a MHP Fund? If so which funds would you recommend? Four Peak, Park Street Partners, etc.  I spoke with Four Peaks but read some reviews on some distribution issues.  Thanks for the Help