All Forum Posts by: Brittaney Woods

Sounds like you need 20-40 mg of Prozac once a day.

Seriously, stop stressing, find something positive to help ease your mind, travel and just enjoy life and investing...and if you feel like helping me  acquire my first property my Paypal link is below :-)

paypal.me/brittaneywoods

Did you follow the "rules" that are usually taught by mentors and gurus?

Rules including but not limited to;

Tithing, if you're religious- When I was religious I never really understood why I "had' to tithe to reach success in business.

Using the law of attraction- I am a positive thinker so I use this method for the most part.

Donating to charity/ies

Cutting off ALL friends that aren't motivating or doing anything with their lives....Completely cutting them off, as in not even an occasional catch up lunch. I'm having a bit of a hard time with this one because one of my ex best friends has 0 going for herself and I've tried motivating her, to no avail. Sometimes I feel bad because she has reached out but now I pretty much ignore her. For some reason I still feel that I am obligated to be her friend even though the friendship will not help me achieve my goals and may even be hinder my progress.

I guess I really want to know if anyone feels they have been pretty successful in REI without implementing the extra stuff........and just put in good ol' hard work? Did you keep the same friends, not tithe, not use the law of attraction etc?

BTW I definitely am not trying to get off without donating money or time to people that really need it.

In your original post you said "everyone" was telling you wholesaling is illegal. I just wanted to know if real estate professionals told you this or if random people not involved in real estate told you this.

If a wholesaler has a seller under the impression that the wholesaler is going to buy their house and can afford to pay that large lump sum of money (knowing they can't buy it) that is lying and can be considered unethical.

That's why I always let them know I'm marketing the property as well and if it's something I am interested in purchasing as a buy and hold I let them know that I will be able to buy their property if the (hard money) lender considers it a good deal.

See, when I started researching wholesaling I listened to Sean Terry's podcasts (I think he's a member here) and he along with a couple other gurus I'd listen to used this tactic. Supposedly, it isn't bad because we are still attempting to solve the seller's problem.....we are getting them the money they want. 

Tbh, I did feel like wholesaling was a little unethical at one point, but I justified it by telling myself I am helping the seller (especially when they tried selling their home/s through a realtor) by helping them get out of their home.

I'm not acting as a realtor because I have the house under contract...and I didn't mention it earlier but in every contract I've always included that the house would be marketed to other buyers.

Either way, I don't think it's illegal but it could be perceived as borderline unethical.

Define "everyone"....are these real estate professionals or just random people?

IMO, it is legal because you're getting a house under contract and as far as everyone on the outside is concerned, you are intending to buy it. If you choose not to purchase yourself, that is YOUR business.

As long as your contract is assignable you are fine.

When I get a house under contract and the owner asks what I plan to with it  I just say " I don't know yet, I may keep it for myself, I may flip it, I really am not sure but you will get your money within 30 days unless my partner doesn't agree it is the right deal for us"....and that is all they need to know.

Congrats!!!

Every time I feel frustrated I only blame myself. My husband and I have both had so many large lump sums of money in our possession over the last few years that we just blew on stupidity....even after knowing we should invest. If you are in a position where you are getting loans...use that money to invest.

We have to learn from mistakes. I know times are rough but most of us run into lump sums sometimes ( tax returns, loans, etc ) and the first thing we want to do is pay a bill or buy things that we have been putting off that we THINK we need.

If you need capital start mentioning your investment plans to your close friends and family. The private money I'm using now came from my mom and I would have never imagined she would be willing to help me.  Just believe in what you are doing and other people will believe in you too. You will be surprised to see how many people are willing to help you.

Thanks everyone. Not sure if this matters but I am getting it owner financed and the mortgage will be amortized over 30 years and due in 3-5 years ( we haven't decided yet).