All Forum Posts by: Brittany Tucker

@Tyson Taylor Searching through old posts about LOI's. I am able to send my first and I would love to see your draft!

So I found a deal that I am interested in wholesaling. It's actually 10 properties owned by one person. 7 of which are fully rehabbed, 3 need 25-30k rehab. Gonna purchase as package, sold to end buyer for cash. My dilemma is the contract. I was about to write it up but I've never done one for a deal like this. Anyone have experience? Do I need to write a contract for each individual house? Or put all addresses on one?

Just settled in to downtown Tampa, Florida and I am excited to dive into this market! What's huge where I am at is condos and apartments, which I don't envision a lot of investing success. Do you investors here seek out housing in the low income areas here? At a glance, it appears to be high end and low end....no in between. Also, I'd love to meet up and network with anyone in the area! Happy money making :)

I am having an issue deciding whether or not to put my personal name or business name on the purchase and sale agreement and assignment contracts. I have not set up with a bank yet for my business but I want this experience under my business's belt.

What can I do legally??

Hey y'all,

I have been streaming through various forums about finding absentee owners, and before I pay listsource to do it for me, I'd like to try and find these homes myself through the county website.

But I can't FOR THE LIFE OF ME find this info on the website! I'm in Sarasota Country, can anyone help me out?

Please&Thank you :)

Where would I find a program like that @David Sicherman? I've been turned off from spending a huge lump sum on education just by seeing all the information for free on BP. But something that inexpensive seems doable and worth it!

I was thinking exactly that @Dev Horn! Once I get my LLC established, I'll build my website with LeadPropeller...is that what you use? Is it user friendly? I'm just not hyped about having to pay $50 every month for it! A lot of websites have a one time payment and that's it.

I agree with you 100% @James W., I got overly excited at the luncheon with them and while although there is opportunity that I wouldn't have alone... I'd rather spend the extra time and effort in finding mentors that want to help from the goodness of their heart or in return of my service to them!

I turned down the offer because of all your honest advice! Thanks for saving my pocket everyone!

Howdy BP Fam!

I am in a dilemma of whether or not I should pay for a somewhat local coach (hour away) to hold my hand through my first year of investing. Here's the details:

I met them (two partners) at a local REIA, exchanged cards and set up a meeting to talk about my goals/their background/what they offer. I got very good vibes from them, and got similar feelings from talking to other people in the group about them. One has been an investor for over 20 years, the other- only a year, but has been involved in the financial world for about eight. They are stepping away from investing to focus more on business marketing/coaching. They sent over a proposal which reads:

1. Free Motivated Seller Site | Wholesale Buyer Site | Rent-to-Own Buyer Site | Commercial

Site | Property Listings (Pro users only) | Land Site

Pro Upgrade only $37 a month includes the following:

 Email Marketing, SEO Tools, Property Listings, Blogging Platform, Ability to create & edit your own pages, No contract-downgrade at any time.

2. Coaching - 3 sessions per month

Systems evaluation and development, business and marketing plan development and implementation, “Inside the business” as well as ACCOUNTABILITY. These sessions are conducted via Skype or Conference call line unless “in-person” is preferred whereas you would come to us. You may trade any 2 unused on-line sessions for a “Live” session on the ground, in your area, scout trip or property viewing once every 60 days or any time I am available for an extra small fee.

3. Access to the best the Most Successful Real Estate Information System (billed separately- $130):

Search Properties by Equity, Research Properties, Automate Send & Manage Contracts, Follow Up in Offers, Find Cash & Retail Buyers, Foreclosure, Short Sales, Tracking, Market Intelligence, And so much more

4. Real Estate Mentoring / Consulting Benefits

o Specialized Knowledge / Experience & Expertise

o Deal Analysis

o “Hot Zone” Scouting & Heat Maps (geographical)

o Access to my information, spreadsheets and tools I use to analyze deals & geographic /

demographics

o Advise on lead capture, contracts, contract management, contact management and

automation.

o Extended Due Diligence: Blind spots & Fresh Eyes

o Expertise not available through "regular" channels, i.e. REIA

o Access to my resources normally reserved for my own deals.

o Access to money sources normally reserved for my own deals.

o Economic Diligence: What is happening down the road and how to prepare for it.

o Individual Asset Exit strategies

o Ability to participate in Joint Ventures

o Masterminding Sessions

o Speed of decision making

o Influence of objective “experts” on deal negotiations

o Trustee services

Monthly Outlay for Coaching / Mentoring / Consulting: $1,497.00 per month for a period of 6months. ($8,982)

Monthly Outlay for Coaching / Mentoring / Consulting: $1,250.00 per month for a period of 12months. ($15,000)

An All Up Front Cash Discount of 10% Available if you so desire. ($8,100 -cash up front)

What I want to focus on is wholesaling, which my market is not flooded with but more like in desperate need for. Does this sound like a fair price for a local coach?

Doesn't look like it's going to work out with this property for financing reasons. I guess I use too broad of numbers and need to spend more time getting comfortable with specifics. Thanks for everyone's advice, I will look into the NP REIA @Mike F.. For my first flip, I do plan on doing most of the cosmetic work myself including my family.

I am just having a hard time getting financing. I feel belittled asking anyone for money, even if their title is a hard lender. I just feel as though I have no credibility because of my lack of experience. But I can't get experience because of my lack of credibility. At this point, I am putting to rest the idea of having my own deals and picking up the education/mentor mindset again.

Hello BP family!

It's been a while since I've posted a forum but I feel it's time to start becoming more active! I took everyone's advice about a year ago and finished college. I am now a licensed hygienist, and while although I don't plan on practicing for very long, it is nice to have steady income. I stayed true to my word and dove right in to REI, joining two REIA's, introducing myself to EVERYONE and even obtained a pretty hefty collection of business cards. It's now been a month and my face (and quirky personality) is becoming familiar to quite a bit members. I think I am ready to do my first deal... let me know what you think.

In North Port, Florida (SW coast), I found a1998 REO 90k, 3/2, 1400 SQ FT, corner lot, VERY nice quite neighborhood, before inspection it seems to be all cosmetic. Comps: 135-165. I put together a spreadsheet and my max budget for reno is 12k. I've included closing costs and power/rent for the month and is estimated at 40k profit if it sells for 155k. I feel like that's too good to be true and am missing some huge expense. There's still $1,400 left over in budget for any unforeseen damage... is that enough of a cushion?

Oh, P.S. I am going through a company called LendingHome because the hard money lender that I was introduced to has a full plate and doesn't seem to be comfortable putting anymore pressure on himself lending to a new investor. The terms I from the third party lender is 11% interest, 4 points for 12 months.

I would appreciate ANY AND ALL advice. I feel a little (actually a lot) in over my head. Did I make the right decision diving in to a flip for my first deal??

Thank you for your input @Westin Hudnall , I really appreciate the conviction in your opinion. No one has given me a straight up answer like that yet.

I think I will finish and fit in RE whenever possible. Big things coming from me after ten months though!