All Forum Posts by: Carla Harris

Thanks Kristine!  Great advice.

Good morning BP:

I am new to this business and am very excited. I have been discussing the wholesaling strategy with friends and there is some interest in working together and splitting the fees between them and me. What are your thoughts on this? should be establish a business entity between us or each with his own and then a JV agreement? Any advice would be helpful. BTW - there is also some access to a software I have and they want to pay for 3 months of the monthly subscription.

Thanks.

I am very new to REI and want to know more about HML. I've heard 2 schools of thought - investors agree to lend on the ARV and not the credit/investment of the assigner, buyer, etc and from researching other areas, there seems to be a need for good credit scores and coming to the table with a portion of the investment.

Since I do not have money to currently invest and not the highest score, my plan is to wholesale first while I'm building up a reserve. Please give me the skinny on how HML works.

thanks.

Trent - thank you very much for the time to respond.  I have printed this out and using it as a road map!  I was able to find a local mentor and am moving in the direction of my first deal!!

Have a great day!

Thank you Michael.  My apologies for the late response...I was able to get a mentor who actually said the first thing I should do is get on BP so I must be on the right track. 

As a new investor, what are the top items that I will need, besides money of course?  Insurance?  If so, what kind?  What other immediate needs should be in place for new investors?

thanks.

Hello all,

I am very excited and nervous at the same time about this new venture.  I've been a business owner for many years but in a wholly different industry.  My long term goal with real estate investing is to continue my community service without relying on government funding.  That said, I am not sure where to begin!  I want to learn I hope that this is the place to do just that.  I hope I am not "breaking any rules" in my posts... and as I've read in some of the posts, I am absolutely willing to share in the profits while I learn.  

I have fair credit and no money to start with, but I am a great student and willing to put the work in and any advice for a newbie would be most appreciated.  Based on what I've learned so far, wholesaling seems to be my first option to begin building an investing egg.  I would love to hear from any and all of you about first steps - even the best way to structure the entity - to "birddogging".

My name is Carla and I am in the DC area.  Thanks in advance and I look forward to working with you!