All Forum Posts by: Brook Wilson

I'm 24 years old and I plan to buy my very first investment property next year in September. My end goal for real estate is to live off the cash flow and retire. I've been hearing a lot about buying my very first duplex or fourplex with an LLC and going the FHA route. Any recommendations about lenders who will be willing to accept that? The reason for this to use the first time home buyer program and acquire many properties. Please provide any feedback that will help to acquire my first rental next year and buy other rentals moving forward.

Thanks in advance 😊

2 Votes

Originally posted by @Ayman Elmasik:

@Brook Wilson, great start, my first wholesale deal came from a letter I sent 6 month earlier so don't worry they will come.

Houston is a very competitive market and the key to success is not to give up.

One of my struggles was when I had a deal I didn't know how to sell (did not have a buyers list) and I want you to be ready for that now.

What are some tips you can give me on how to build a buyers list? I thought once I have it under contract it would be easy to find a buyer. So I do appreciate the heads up!

0 Votes

Originally posted by @Wes Short:

Hey Brook, I would say that if you are driving for dollars you should probably be databasing all your leads in some way. I just use Zillow to mark down my homes while I drive and then transfer them to an Excel file but there is a wide variety of ways to do that. I'm guessing that mailers might be your next step and a database is almost required for that but it sounds like you are off to an amazing start with the vacant leads! How did you end up finding the homeowners who were out of state?? Some sort of skip tracing?

Thanks for the advice! I’ll definitely start looking into that more!! I actually was able to track them down using skipgenie.

0 Votes

Originally posted by @Eric Adobo:

You sent contracts? I didn't hear the part where you built rapport with the owners.

Yes, and once I tracked them down I was able to. Both owners were out of state homeowners. But I am realizing early some people are never satisfied with offers. They would rather their home be taken by the state for free than get something out of their property. So I am not going to dwell on it, instead I am going to use it as fuel to move forward!

1 Vote

Originally posted by @Shella Sanders:

sounds like u are off to a great start! my first year wholesaling all i did was send letters to absents and it took about 3 months to get my first deal. it is gaurentee'd to work by law of averages if u just keep sending out consistently! i love driving for dollars, hv found the best deals that way! I'd suggest adding as many free sources for leads as possible. COUNTY DATA is your best friend. just like the property tax leads u have already, try to add in evictions filings and call those potential tired landlords... probate, divorce.. are also good ones. !

Thanks so much!!! I'll take a look further into evictions, divorce and probate!! It is encouraging to hear I am off to a great start. How often should I send the direct mail? 4-6 weeks? about 5 rounds?

0 Votes

Hi,

I am new to the wholesaling investing here in Houston, Texas. I am a licensed realtor but I only got my license so I could learn more about the market. I recently started wholesaling about a week ago. I went driving for $$'s for the very first time and I got two vacant properties, I was able to track down the owners. I sent the contract and everything but the clients didn't sign it I am assuming because they wanted more money for the properties. Even though I wasn't able to close on those deals, I am very encouraged and determined to keep persevering. Recently, I have been driving for $$'s and sending direct mail to absentee owners and people who are behind on their property taxes as well as mortgages. Haven't had any luck yet. If you guys have any tips that would be awesome!!

0 Votes

thanks!

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I am 21 years old, I've been researching online how to start investing in real estate but don't know where to start. Can anyone help?

0 Votes

All Forum Posts by: Brook Wilson

Brook Wilson has started 3 posts and replied 8 times.

Post: Houston Newbie Investor

Post: New wholesalers, needing tips to get deals!!!

Post: New wholesalers, needing tips to get deals!!!

Post: New wholesalers, needing tips to get deals!!!

Post: New wholesalers, needing tips to get deals!!!

Post: New wholesalers, needing tips to get deals!!!

Post: Investing in real estate

Post: Investing in real estate