All Forum Posts by: Christopher Kinnaman

Thank you for your input. There was a lot of good points there that I just read. So I think what I'm probably going to do then is take you up on your advice and contact some different lawyers and find out if they work with investors and then ask them if they work with wholesalers and see if they can shed any light. I also think that it's a good idea like you said to do meetup groups and things like that nature. The other thing that really likes that you said which definitely correlates with what I said which is that it's best to operate with integrity and my take away from that is like I had said that I want to have transparency with basically every transaction that I do so I want to go into a transaction and tell the homeowner my intent is to purchase this property through the means of whatever type of funding but if I can't then I'm going to sell this noteto an investor or rehabber or whatever somebody that's willing to buy it and then tell the buyer that I'm wholesaling the property and I definitely want to try and stay away from doing a double close if I can because to me that just feels like I'm hiding something and instead I want to see on that paper so that the buyer and the seller both know how much I'm making off of that deal and if the deal goes sauce or if I think the deals going south and possibly do the double close but if I can avoid doing that I think that's the best route to go but I guess I also probably have to find out if I need a brokers license if I do more than one property a year.

I do know that what I just said sounds a little vague with my terminology and that's just because I'm new to the process and I have to do some more digging so I can figure out the logistics and all that because I know that there's courses out there that you can pay you no $1,000 or $5,000 or $10,000 for but honestly I don't have that kind of money laying around so I'm sure there's other ways that I can get that type of information. Once again, thank you so much for your input it is much appreciated.

first off, I would like to take a moment to introduce myself to the commuter 8th. My name is Chris. I'm 37 years old and I live in Minnesota. I would like to get involved in the real estate game but honestly I don't come from a rich family and I really don't have much money to my own name but that should not stop me from what it is that I want to do. I want to get involved in real estate as I mentioned and build up a business that I can then pass along to my children and set them up. I have been doing different types of research and I see that the big thing for people to get involved in real estate without money down or money out of pocket so to speak is to do wholesaling.

I would like to reach out to people in Minnesota that have either done this or are currently doing this and find out if they have any insight on which direction I should take to get started. Having said that, one of the things I've seen is that some people believe that wholesaling could be kind of a gray area or some what type of illegal activity so I was wondering if anybody can weigh in on that as well. There has to be some type of legal way that you can present yourself as a wholesaler with clarity so that no party is kept in the dark and nobody is trying to second-guess what it is that you want to accomplish. can this be done with different types of documentation or maybe the closing company that you use or anything like that? I want to do it and I want to make it so that people trust what it is that I'm trying to do. If I was to take time and build up my own investment so I can invest my own money then maybe I could do that in 15 or 20 years down the road but I want to get going like yesterday.

I'm not one to just sit around and wait for something to happen. I want to make money and I want to make money now. I don't want to wait for 15 or 20 years down the road. That's exactly how long it would take me if not longer. I want to start with the wholesaling like I said use that to build up some capital and then take that capital and invest in property. Can anybody point me in the right direction?