All Forum Posts by: Brian Cam

Hey inahya,

I agree that training will help you, and it will definitely give you more confidence.

However, you also need to have the mindset.  You need to "want" to close more deals, and in order to do that you need to find your motivation (is it providing for your family, just making money, or something else). 

Mash all these components up and you will grow your business.

Feel free to reach out if I can be of any help In the future! goodluck! 

This is just my opinion, but here would be my plan.

I would take 900,000 and spend it on one Apartment complex ( in NY that's pretty much 1 property lol). I would use the 900k as a downpayment for a 2.7 million property.  It would have to cashflow from day 1.  I would improve the property, raise some rents, and use the monthly cashflow (along with the remaining 100k) to fund my fix&flip/wholesale business.

Obviously my master plan is more detailed, but this would be the basics.

Good Morning BP Family,

I am looking for any investors that buy multifamily properties in the Bronx! I have some properties, but I am looking for a partner.

If anyone knows anyone please feel free to reach out.  Thanks!

Hey Riley,

If it were me I would call the seller and let him know that you are an investor and that you want to purchase the property.  Send over the contracts and get them back signed.  Let the seller know that you need to confirm some things (the condition, the amount left on the loan if there is one, etc) . Also let them know your partner (your future cash buyer) will want to see the property. 

Then market it like crazy until you have a buyer and then you're done!

Feel free to reach out to me if you have any questions throughout the process.

Hello BP Family,

Does anyone know a foreclosure lawyer in NY that they can recommend?  I have some questions, and I want a professional opinion.

Thanks!

The best crm that I have found out there is "Podio". It is real estate specific and very customizable. Another good option is ZOHO. Both Podio and ZOHO offer free and paid versions. Typically for basic users the free version is powerful enough.

QuickBooks also offers a desktop version (which is much better in my opinion). Also, its a one time purchase.  This would be my best suggestion to you.

The best advice that I can give you is to find some local wholesalers such as myself, get on their list and let them know exactly what you're looking for. As for price, there are good deals to be found everywhere. In fact I have a house I'm looking to move for 80k. Just because you live in an expensive area doesn't mean you can't find great deals.

Feel free to reach out and I will help you however I can

Hey Korrie,

First congrats on making the decision to take action in this business.  Second, the best way to find a contract specific to your state is to speak to other wholesalers in the area (that have done deals). 

Alternatively you could find a standard purchase and sale agreement and assignment agreement and have an attorney in your area review it.  It might cost a few bucks but you know you will be safe

PS make sure you have all your out clauses in the contract

Hope this helps and feel free to reach out with any more questions

Hey Gina,

No it is not illegal.  You can use a vanilla purchase and sale agreement, the same that agents in your state use.  However, make sure you have some out clauses (contingent on partner financing, contingent on inspection, etc).  Also, make sure it has the "and/or assigns" verbage.

The best thing you can do is draft something up and show it to an attorney in your state.  For my first deal, the attorney reviewed and modified it for me.  Now I just use the same contract on every deal.

Hope this helps, and feel free to reach out with any other questions