All Forum Posts by: Chris Speights

Another vote for Jason! Good info man, much appreciated!

On that note, two questions...

First of all, are there any agents on here that do actively offering these types of services.

Second, what is an acceptable incentive for these types of request? I mean, do you incorporate a per time fee or a monthly type fee? I have often wondered how this would work. I have never thought about looking to realtors on here...but have often wondered how to approach realtors in the area.

I of course always knew you would have to somehow offer something, but was unclear on what exactly that was.

Thanks again,

Chris

I just realized this forum was here. I have been on here a little while and been posting some, but never formally introduced myself.

I suppose my post won't be a lot different from others that have posted before me, but here goes.

I am 31 and from Houston. I am married and have a six year old who is in 1st grade and plays soccer and baseball. I work as a cost engineer for a consulting company, Turner & Townsend. I am currently contracted to a refinery for ConocoPhillips working on 3 environmental projects in Sweeny, Tx (I know, not many others have heard of it either).

I am new to real estate (other than the houses I have bought for personal dwelling) in the sense of actually taking any action, but have been researching and educating myself for about two-three years.

I feel since finding BP, I have finally increased my knowledge, goals and plan dramatically and am finally in a place to start executing.

I will start in wholesaling with future goal of having a few cash flow properties. Eventually, I would like to do some rehabs. I am hoping that wholesaling will afford me the opportunity to do those things. I have no intentions of doing this full time at this point. My wife is a teacher and really doesn't want to do that any more. My hope is that by doing some REI on the side, it will allow her to quit working all together and hopefully take the reigns on working with real estate.

It's been nice getting to know a lot of you and certainly a privilege learning from you.

Thanks again for the opportunity to be here!

Chris Speights

My Twitter ID is @cdspeights I think...haven't used it in a while.

As for the validity on Twitter for REI, I don't personally see it working, but I have also still not yet completed a deal. But, since I have been using it for a little while (although irregularly), I just don't see the benefit.

I guess if you can follow people that you know are investors, then perhaps it could work. It's just not local. I suppose if folks invest across state lines regularly, then it would be good to tweet deals you might have, etc and perhaps someone there will bite. I don't know...since it's not a whole lot of "extra" effort, it definitely is worth a shot...

I agree with Jon, a million a year seems very excessive. Building up to a million is most likely over time...

Or, reinvesting profits could easily build wealth...but not likely to literally make a million from wholesaling alone.

There is no doubt however that it could offer some significant income on its own if you do it full time or add a very nice supplemental income as a second job.

That's great info, Jacque. Thank you. I will email the one I know right away and ask if he can provide any other names I could contact.

Thanks again,

Chris

That's an interesting statement, Jacque. I don't disagree with it. But how do you target distress? Are you referring to just broad marketing versus targeting neighborhoods/areas?

I have heard people talking about getting in with attorneys that may know of bankruptcy, death, divorce, etc...but, how do you market to an attorney? I mean, if you approached and said, hey, I want to profit from this guy's misfortune...what is the likely response?

I don't know any attorneys personally, other than mine and he mostly handles wills, etc...he is money hungry however, so perhaps I could offer him a fee or something?

Chris

That's not a bad idea, Alan, thank you. I guess I was just trying to figure out a formula that made sense. I work an hour from home. So, I am out the door by 6 and not home until 6 in the evening. I have a family, etc, so when I get home, it's not like I can just run out the door again.

I typically have every other Friday off and off on the weekends. I think I have more to choose from in Houston because it's a large metro, just thinking maybe to start out, though, I should stay more local to my area. It will be slim pickings by doing this, but it makes the most sense to start off.

The best way, under your circumstances is definitely wholesaling and/or bird dogging.

As far as other resources, there are a lot. There is here, of course...then there's [LINKS REMOVED] and the list goes on and on...

That would make perfect sense. Thank you again for the info!

I am still new and can't say with certainty, but my understanding is it can only be done with a double closing or selling of an LLC, as lenders typically have seasoning requirements on REO properties.

Definitely dig deeper and/or wait for veterans to respond, but I am almost certain this is the same info you will find and/or receive.

Chris