All Forum Posts by: Account Closed

@Gene Han Gene I found a website that gave me some updated information on franchise owners in my area. I was thinking about pitching the building and location really well with one goal in mind which is a LOI. Do these owners just rent out the place? Who buys the buildings? If they send me a LOI I want to know how I go about marketing it to an investor who now has guaranteed NOI with no expenses to worry about. I know the McDonald's website won't respond to me. The place has a great amount of repairs to be done to it but I don't think it's nothing a McDonald's wouldn't be able to fix if they were interested in buying it or whoever at a discount price.

@Gene Han Thank you very much

@Gene Han Thank you there are 3 Subways already and will contact them. Other places like McDonald’s, Dunkins, Pizza Hut, Family Dollar, and Dominoes are all close as well. I wanted to contact these guys and their competitors, now if it’s not a franchise like Subway do I just rely on their real estate departments located on their website or is there another way to contact these bigger companies

@Gene H. Hey Gene I am currently working with a commercial property in MA. I notice its a hot spot, close to Mcdonalds, Dunkins, Burger King, Wendys and etc. I thought a potential tenant would be a company that is a competitor with one of these fast food places or maybe the ones that are already existing. I have looked into some of the things these tenants require. Subway was a company in mind, they have a real estate page and a user friendly process which I intend to submit out of desperation.

I would rather do it myself, and not with a broker. Do I call their corporate number? Email? How do I go about this? I cant receive any messages for some reason so please get back to me on here and we can go from there.

Why do so many investors treat the MLS like it's perfect? Even when sometimes it's an old listing. If the MLS really is this great I need to get my license. I had a guy fight with me on the phone for 30 minutes cause the property I had under contract looked different from what he saw on the MLS. I went to check it out and it was a posting from 42 months ago. This is why sometimes I don't trust Zillow as well, a lot can happen in "42 months". People buy homes all the time and change them completely in a year or less. I even sent him the most updated pictures on the property because I always have pictures for my investors and he insisted I was trying to waste his time. Currently working with the homeowner to try and find any agent she has worked with so it can be deleted. It's an off market property at the moment but I feel like once anything is posted on the internet it will always be traceable.

@Mike Bean Anyone can do it with the right mind and work ethic. The hardest part is finding a deal, once you find a deal with a motivated seller everything comes. I am working towards my license just to put my future sellers at ease. Sometimes a piece of paper just makes people feel comfortable. If you also plan to fix and flip down the line it’s not a bad idea as well. I intend to fix and flip somewhere down the road and sell the properties myself.

@Lien Vuong Thank you, I do plan to keep investing the money. I appreciate the advice very much

@Michael Schleicher yes

I am currently a 20 year old college student wholesaling at the moment. Real estate is the best investment I ever made to myself. I’m not just talking money or something in value you can physically touch. It taught me I don’t have to settle for the normal 9-5 and pay bills till you die. Growing up we were always living pay check to pay check and watching how my mom struggled motivated me.

I was born in Baltimore, but lived in Africa for five years. After that, we moved back to America and lived in Atlanta then finally Worcester MA. I remember when I was 3 in Africa and my mom woke up to me at night trying to sneak some food. Food was limited but in the night time when people slept I was awake. My mom cried with me the whole night, sometimes we slept on the floor. Fast forward to my teenage years I was attending a private high school. My mom was working three jobs to support us and always admired her hard work.I was a good student, I bumped heads into teachers a lot. Most of them liked me as a person and a student but I never really liked school.

I’m a junior in college and started learning about wholesaling last summer. I learned it a little more in school and said ok its time to jump in. Rather jump while im young than fall hard when I’m old. I said to myself you will thank yourself later. I found my first deal around winter vacation. I had it under contract, and found a buyer but the seller pulled out of the deal. Wife was on board but I could tell her husband had his doubts about me. I had it under contract with the seller for $205k and got a buyer to agree to $250k. Seller pulls out and signs with a realtor instead. At that moment I was laughing to myself and saying I guess it’s not all sunshine and rainbows.

I kept looking for more deals. It was tough at the moment because I was broke with fees to pay for my second semester. Especially when I lost out on potentially $45k. I had 44 cents in my bank account, burrowing money from my mom which I hate doing to put a $10 deposit on houses to wholesale. The $10 was just for the contract, these people were desperate and motivated so it wasn’t the end of the world. While I did lose out on my last deal I did make sure to keep back up deals. Something in my gut told me to keep entertaining the other sellers I found on Craigslist’s. I reached out to at least a 100 people via email on Craigslist a day, when I was studying for finals. Would pull all nighters to study and look for deals back in school

I closed on a house with one of those back up deals I was using as a cushion. Made $20k, I never laid eyes on that kind of money before, I was shocked. Before this I was working a 9-5 in a nursing home which taught me patience and hard work. I ended up quitting the job a while ago. In return, it made my boss upset because she liked me as a worker. I told her I needed to put my hard work into something else. At the moment I have 3 properties under contract and one is set to close soon. The rest are getting a lot of bites from investors so I am very excited, but not too excited. The victory comes when I close, there is no need to bring out the ice cream when the job is not done yet. I am in love with real estate and shocked at the benefits, wish I got into it years ago. Also starting to notice trust is more valuable in this business than money. Excited to grow and learn more.

@Harmony Edwards I can’t speak on Berkshire county because I am located in Worcester. I will tell you to look into contacting other wholesalers or investors in your area. I know MA is more of an attorney state, so they will end up recommending a bunch of attorneys. Then see who is right for you by contacting them and asking them questions on their policies. You want to make sure their policies match with you.

For an example, when I called the attorneys recommended to me I was asking if they were familiar with double close. I am a big fan of double closing. Based on that and prices of closing costs I chose the right fit. I also asked if they only would work with properties in MA. They informed me they would help me with properties in MA, NH, and ME. Just Incase I had a property under contract out of state which I tend to do often.