All Forum Posts by: Account Closed

Hi all, 

@Eric F. @Tom Myers

Where are these people successful? I'm wondering if Arizona is a good place for bandit signs. 

I got an app called flyp that gives you other numbers that forward to your original number...I'm wondering if I am safe using this service?

Check out some skip trace companies! lexusnexus is a good one..but its pay per lead. 

@Jeremy Arredondo

@Keaton Allred

Awesome to hear you're starting out in wholesaling. I'm doing the same. 

List of actionable steps starting out

• Start attending as many AZREIA meetings as possible, mention you're interested in wholesaling and you'll quickly network with flippers who need deals. 
• Build up a buyers list..without a strong buyers list you can put something under contract and never get it off to the end buyer.
• Understand purchasing contracts ( as a wholesaler its extremely important to understand your contract especially the contingency for inspection period and the Ernest money associated)
• Develop how you are going to find your deals, are you going to focus on a mailer campaign or door knocking or generating phone numbers and cold calling? 
• Pin point what deals you'll be doing starting out..will you scout properties, assign contracts or double close?
• The biggest thing I'm working on now as well is estimating rehab costs. No one is going to want to work with you or I if we can't properly estimate a rehab.

This is where I've focused starting out. 

Some great resources: BP episode #12, BP episode from last week with a wholesaler, the book on estimating rehab costs from BiggerPockets, The wholesaling bible. 

Feel free to reach out with any questions!

Dalton

@Shiloh Lundahl I love it. 

I'm a tentative yes. Friday evenings I typically do dinner with my girlfriend and her family but I think her and I will both be attending.

I'll send you a text to confirm. 

Thanks for doing this!

Hi all,

Quick question - I have a basic understanding of syndicating deals as I'm still very new to real estate investing. I realize that if everything goes according to plan the HML typically gets a preferred payout and then profits after that are split up and this structure is decided upon by the parties involved. Also, I see that if a deal goes horribly wrong and the HMLs aren't paid back they have to right to the property they were lending on. But! What if the deal finishes dead even? Is it typical that the HMLs get their preferred return? (the party with no money, or little money in the deal comes up with the preferred return for the HMLs).

I'm assuming this comes down to how the deal is structured and agreed upon by the parties involved, but whats typical?

Thanks!

Hi all, 

I know this thread is super old but I cam across it searching around on google for info on syndication. So quick question. I understand that if everything goes horribly, the HML gets the deed and in a perfect situation the HML gets their preferred return and then a breakdown of the profits following the preferred return. My question is, what happens at breaking dead even? Is the HML guaranteed that preferred return? So in that case the non-HML has to come up with 6-8% of the invested cash and walk away? I guess this comes down to the specifics of the deal drawn up..but is that typical to guarantee that preferred return?

Thanks!

Just moved to Chandler. I'm very interested in attending. I'll accept the event, do you have an email listserv?

Thanks

Gabriel, 

I just finished my degree in electrical and computer engr. You've probably recognized this but having a steady paycheck from a company will allow you put invest money in your properties. I think sticking with Engineering is the way to go in my opinion. Find a company where you're free to leave at 5 and have your weekends open, then dedicate that time to REI.

Another huge thing to consider! If you switch into an RE related degree, and take a job in RE, and do REI on the side...what happens when there's a recession or downturn? (not saying its approaching but could happen down the line). If you have that steady engineering paycheck it can help if your RE investments get hit.

@Jeff B. @Ken P. Thank you both for the information!!

Hey @Sarnen Steinbarth

Awesome info! Whats the process for getting criminal background checks / credit / criminal? 

Thanks!!