All Forum Posts by: Brittaney Woods

Thanks Andrew. I will check that book out. 

Where are all the motivated sellers in Dade and Broward counties? Every time I market (Craigslist) I always get calls from realtors.

I was told that bandit signs in this area isn't the best option...but I think I just may need to try bandit signs anyway. Newspaper ads are my next option...but when I put those out I just kept getting calls from bird-dogs........Are any of you successfully wholesaling (at least a deal a month) down here?  

I'm not looking to compete but I wouldn't mind partnering. 

You may be the first to have done this. ...

OK, thanks guys. I do know that my brother would be on board with me borrowing against the property especially for such a small amount.

Other than educating myself more, what would you all suggest? I was thinking about saving up a down payment ( instead of borrowing against that house) over the course of next year from all my school returns, tax return, and any wholesale deals I do. Then buy an owner finance property by January 2016. Is this plan a little more realistic?

Sigh, this is why I need a mentor that specializes in stuff like this :-(

OK, so my husband and I just got into a huuuge argument over this.

He is not associated with real estate in any way btw.

I was trying to explain to him my plan/strategy to acquire a bunch of owner financed investment properties within the next couple of years. I got all my information from Robert K and Tyler G Hicks' books.

Basically, in my situation my brother and I will inherit a house in a couple months. The house is free and clear and I plan to borrow maybe 10k against the house.

I will then look for an owner financed single fam home. I will try to put as close to $0 down as possible. If I absolutely can't find an owner willing to take 0 down, the most I'd put down is the 10k I borrowed against my house....

So, lets assume I take over a single fam home and had to put the 10k down. We will pretend that I'm buying it for 100k-10k down...so 90k. The owner wants me to pay him 500 a month. I get the tenant to pay me 700 a month, I only profit 200 a month.

Here is where it gets tricky...according to the books I have read it seems as if I can some how borrow against that single fam home. Can I do this if I am not on the title/deed? I'm assuming not, so how would I go about getting my next investment property? Would I just need to save up or bowwow a small down payment for my next property?

Here is why we argued, my  husband told me "You'll always be in debt because you'll always owe someone"....since I'll owe the bank 10k for borrowing against my house and I'd owe the owner of that single family 90k (but the tenants are paying my mortgage).

Is the whole idea to acquire a string of investment properties w/o putting any money down? Do I just need to have a bunch with small residual incomes until they are paid off? Lets just say I get 20 properties with no money down and the value of these properties is 1 million. Then according to my husband I'll be in 1 million dollars worth of debt.....but does it really matter since all of my tenants will be paying my mortgages?

I don't know if I'm wording this wrong but I am not crazy lol. I know I can come out on top doing this....I just need a sensible way to explain it to my husband.

HI

I see there are several REI meetings held in dade and broward....I just want some recommendations on the best ones. I plan on joining a couple once I move back to south FL.

HEY

I'm getting out of the air force and moving back to Miami in November....

I have been wholesaling in Pensacola for some time and I'm pretty sure the market in Miami is completely different.

I'm just wondering if bandit signs and newspaper ads are effective in Miami for finding sellers.......or are yellow letters better?

If any of you are willing to partner, let me know......my income will be cut in half once I get out and I need some deals!!!!!

No no no.

INSTEAD OF USING AND/OR ASSIGNS, USE "buyer reserves the rights to title in name of entity of choice".... "The buyer reserves the right to re market property before closing"

That basically gives you the right to advertise your property.