All Forum Posts by: Brady Hales

@Mona B. you can do either. It is important to have a big bank as the provider of the mortgage instead of a small regional credit union. As long as the seller is on board and you do your dilligence with all the paperwork that needs to be in place you will be fine. If you are worried about it just purchase on an agreement for sale. You take possession of the property but the deed isn't recorded until the loan is paid off. Then the bank will never know.

@Rickina Velte ypu can wholesale from the MLS definitely. But you have to check your state laws. There are couple that require an agents license to do so. But the majority are ok. The best is to call agents with listings over 100 days on market. There is generally some pain there. Also, the best thing to do is build rapport with agents so that they bring ypu their pocket listings.

@DeAnna McKillop-Lopez I think part of the reason people say to do this is for anonymity. What we do to keep anonymity is set our holding LLC up in Wyoming. Wyoming is one of few states where the organizing documents do not list the owner of the LLC. Then that LLC owns our other LLCs. So if you look them up online you will see the owner is a Wyoming LLC, then you go try to look up the owner of the Wyoming LLC and you won't find it. The operating agreement of our HoldCo says that our personal revocable trust is the beficiary in case I die.

@Kevin Merlander I know a lot of my partners are taking 10% off of ARV if the comps are more than 90 days old. They are also targeting a 15% profit based on that .odified ARV whereas previously it was only 10%

@Lior Noach preforeclosures are excellent places to get SubTo deals. A lot of times you can get equity and take over a mortgage that is in the 3% range. They are a great place to start.

@Justin Mabry it's all about community. You got to make friends with people that are only a few steps ahead of you and are doing deals.

I have heard it said that the most difficult thing about real estate is figuring our which of all the ways to start investing. So I would research a bunch of methods, choose one, and then go find people doing those deals and try and work together.

@Timir Shah this is kind of the opposite but try looking up Morby Method on YouTube. This method is for sellers that want a higher down payment and how to accomplish it with little to no money out of pocket

@Clint Vonburg get a 0% interest BUSINESS card that has the 0% offering for a year or more. Use Plastiq to pull the money off. Get a non-recourse loan where down payment is from the credit card. Just know you are kicking the can down the road and you will have to pick it up some time;)

It is important to get a Business credit card rather than personal because it won't show up on your personal report unless you default (but don't get a capital one card because all of their business cards report to personal credit bureaus).

@Turner Wright what I have to say on this may not help you now but will in the future. Most wholesalers (including me) are taking 10% off of ARV for any comp that was sold more than 90 days ago. In this case taking that 10% off of $310,000 puts you at about $279,000 (right in the stated range assuming original ARV is good).

If you don't know about it, @Jamil Damji has a YouTube channel where every Sunday at 5 pm (MST) he runs a live comping session where you can bring him your addresses and get more eyes on the ARV as well. It is geared towards wholesalers but is really good for anyone trying to get into real estate;)