All Forum Posts by: Justin Fernandez

A quick search will get you the answers you want.  But be warned, more advantages will come up than disadvantages!

Hey bud, welcome aboard.  Let me know if I can be of any assistance. 

Some tips for offsetting costs.  

1. House hack, it helps you learn real estate and allows you to work full time.

2. Utilize your VA Loan.

3. Ask as many questions as you have and tag me if you want me to personally respond. I'm always glad to help a fellow member of the service and BP.

4. A good book to get you started, for Small Multi's read "Investing in Duplexes, Triplexes and Quadplexes" by Larry B Loftis.  

5. Enjoy the ride.

First create a business plan.  DO NOT WING IT.  You will waste time, effort and energy doing this as a fly by night type of wholesaler.

Next time you drive for dollars, you should know the area in which you're driving. The average ARV by neighborhood. You should also know how much repairs cost and who's willing to buy in that area. You need to understand which areas are coming up, which are declining. You will need to understand what a good deal is (You create them, there is no magic bullet, unless you're secretly @Brad Pitt, then you are a magic bullet). Your end buyer will tell you their buying criteria.

Your end buyer can give you contracts they use and who they use to close.

After knowing that, create a way for the seller to contact you before you start mailing out (door hangers, flyers, post it notes that say something like " i want to buy your house"), then use a script to which you can filter out results between motivated and maybe motivated.  

When you go driving again and see a house, knock on the door. No answer? Leave a marketing piece.  

Send a letter if they don't live there by finding out via tax records.

Use www.marketlikeawholesaler.com by @Jerry Puckett.  He will give you some great advice and scripts if you use his service.  

When your calls come in, know what you need to say.  If you need help with analyzing a deal or two ask here.  People will gladly help, but won't do it for you.

This is just the tip of the iceberg, good luck and may the odds be ever in your favor.

I also noticed your pro, so you should have access to the 2012 Audio, listen to Will Barnard and the Wholesaling bootcamp by Aaron Mazrillo, and Ryan Webber.  It will get you on the right track and they offer more insight than what you can read on the forums.  

Or you can JV a few deals with a legitimate wholesaler. Anyone not willing to do 50/50 is wasting your time or scamming you. Get a contract on that too clearly defining your relationship.

ALWAYS BE UP FRONT. Someone will huff and puff if you're not, but if you're honest and ethical, then you should be fine. Reputation is everything.

Hope this helps!

I found out from an end buyer. They have some restrictions, but a quick google search will tell you everything I know. Essentially, it's a business loan secured by the SBA, it's assumable, and has a fixed rate with bank in 1st position with CDC (non profit) in second position. 

As long as you have a business you can apply with certain income ceilings in the 2million range I believe.  Apparently the guy didn't even need to do the 5% but I'm not all too sure how valid that is since he hasn't even started the process but that's another issue altogether. 

It covers rehab and equipment and is fixed rate. 

Yes, if you or your lawyer didn't write the contract then have someone else look over it. You don't need to be a contract expert when there are contract experts that can look over it for you. If you need one, pretty sure someone wouldn't mind recommending one in your area. 

If you have a regular buyers agent then ask them to look over it and figure out a way to compensate them. 

Side note: Whoever writes the contract usually does it in their favor and what works best for them.

Best of luck on your adventure!

If the appreciation works, lease optioning the home would work, @brian gibbons is his speciality and a great resource on that. But I'm no expert in that area.

If you are using a business(LLC, Corp) you can do a SBA 504 loan. They can be used for real estate and only require 10% down 50% bank loaned and 40% by a CDC (Certified Development Center, not zombie creators). A quick Google will provide the info at a high level and there are restrictions. This is just an option for the thread since I haven't really seen it on this site.

Looking for private lenders that want a 10% return on their money who are willing to fully finance purchase and rehabs in the GA (Georgia) area where ARV's are between 150k to 400k in B and up properties.

Please PM me through here and we can setup a meeting. 

Thanks for your time,

Justin 

I'd start out with a few posts. Introduce yourself in new member. Make an ad in the marketplace for your criteria. Starting looking on CL for we buy houses. Attend REIA meetings.

Wix is popular if you don't care to learn about it or just need a squeeze page to collect info and for credibility. If you want something more serious, Bluehost is pretty reliable and there's a lot you can do. The learning curve is steep though with Wordpress, plugins, seo, and maintenance. 

What do you want to accomplish with your website?