All Forum Posts by: Andre Thomas

I'd network with some local realtors if you don't get any leads here. Also try to attend some investor meetings. You might find some there.

Hey, I'm trying to wholesale. Do you mind helping me? I need a contract and some potential investors right? What's your process?

It sounds like risky business because the access $$$ when charging rent is not only for your to have a steady income but also for repairs and necessary upgrades. If you and fund that out of your normal income then I think the risk goes down a bit but the unknown is the scariest part. You could have one or two major repairs per year. Then at 10 years, it's possible that the increase in value would be less than the repairs (and upgrades) associated with the property.

What is your "Why"? Why are you two deciding to get into investing? The draw for most people is the (relatively) quick cash. What if you saved your money and didn't buy the property? Would the amount saved be the same or close to the expected increase in the property's value?

Have you tried looking at Tax Lein sales? This is when a county auctions off properties of owners who are delinquent in their property taxes. This is a great way to get your hands on some property at a fraction of the cost. The issue is that it's an auction and you'll be bidding against other investors who have bigger pockets than you (pun intended!). Nonetheless, you may be able to get your hands on a multi family home.

Also consider doing what you don't want to do in order to do what you want to do. Since single family homes are in abundance, try a few flips there or convert to rentals and build your savings for the more expensive stuff that you want to do.

Back to the tax lein sales, you can look at other surrounding counties that aren't too far from you. These sales are by the county so their could be 5 happening around you within a 60min drive. This, in a way, increases your chances of getting your hands on something. Just remember to get your eyes on the property before you buy. Google Maps is ok but sometimes they have old pictures. You can see a pic from two years ago but the house could have burned down to the ground a year ago.

Have you tried connecting with Realtors in your areas. They should be able to refer you some good contractors.

I am very new to wholesaling. I haven't done deal yet but I think I found something that can yield a high profit. Is there someone who is willing to walk me through this deal?

I think you should go with LLC very soon. It'll protect you from people getting into your personal funds and assets if they want to sue you. I also think you should continue to get your RE license. It just cuts out one more person you have to pay when you do deals. You'll also get access to home information easier than average joes like me.

Hi,

I am looking to get into some real estate investing and flipping. I just discovered that in the county I'm living in, they sell tax levy sales every first Tuesday. It's a very lucrative deal to secure some property. After going through the list that they're selling off today, I found that many of the properties are in the downtown area--many within a few miles of a medical college. The down side is that they are in very poverty stricken neighborhoods. Nonetheless, I see opportunity.

I'm thinking of buying many of these properties and flipping them. I think it would be cool to start transforming the area. Thoughts? 

Hi,

I am not an investor but I am looking to buy this REO occupied property as my primary residence. Has anyone had any experience in these situations? What's the best course of action that honors/respects the occupant but gets them out of the house? I only know the occupant's name because of PVA records. I reached out to the loan servicing place that repossessed the property to get the details on the situation but I haven't heard back yet.

Thoughts? Advice?