All Forum Posts by: Account Closed

That is a huge cash investment compared to the likelihood of finding a deal...From my experience in Dfw, wholesale deals are a lot of time and money investment for a small pool of possible deals. By comparison you could probably save up a down payment in less than a year, come back on BP and find a turnkey which will be much more likely to succeed, imo. It seems to me that an investing strategy should change depending on market conditions, and in a market where people are bidding houses above asking price, wholesaling will be quite difficult. I'm not an expert though.

After driving for dollars the past two weekends, I sent out a couple dozen letters, and received three calls. All three callers told me that they only owned the land the property was on. I found these owners by searching the property address on tad.org. Is there something I'm misreading on that site?

Hello. I am I Fort Worth too, feel free to shoot me a message.

I'd say there's not enough info to know for sure. But based on only what you indicated they look great. Are you buying them all with your own cash?

Feel free to shoot me a pm

That's good info, thanks. Of course I'm not looking for a free ride. I was trying to invest time instead of money, but I was discouraged by the fact that my wife and I drove around for 3 hours and didn't find a single potential deal that we recognized.

Chris S. I would be interested in learning about those hud homes, but those would be investment properties which would require 20% down, which I could only do on an 80k house if I refi. In other words, from what I understand, hud homes are not something i would want to move into. I may be wrong on that.

Chris S. I am not looking to be a full time wholesaler, i am looking to do a couple of them to put a down payment on my next house. I had a down payment lined up and that fell through, so this is my next choice. Regarding not having the $2500, I don't plan on closing. I plan on assigning the contract. Since that would only net me probably 3-5k conservatively, it's hard for me to spend vast amounts of money to get one of those deals. My other choice here is to refi my house and pull out the down payment that way, but I don't want to reduce the cash flow when I rent it out by having a bigger mortgage payment.

I live in Fort Worth, Texas. Bandit signs are illegal obviously, and I read an article that said that the city is pretending to be customers calling on signs, and then giving them a citation. Regarding yellow letters, ive read that you need to send out 2000 per month, but that costs $700 at .35¢ each. I thought about marketing online, but a quick search pulled up several established home buyers in my area. Auction.com looks great, but I can't afford the $2500 deposit needed in order to bid. How are the little guys getting deals? Please help!

As I understand it, the whole thing is easier to do with a 5% down conventional loan. @melissa do you mean that I should contact my student loan provider and do that? Or can the lender do that?