All Forum Posts by: Desmond Fitch

Brandon Turner's Investing with No (and Low) Money Down book is a game-changer for new investors, especially those with a smaller budget! I would 1000% recommend! 

If you need some help with Cold Calling, I would check out Tony The Closer's Youtube Channel! He has some live cold calls, role-playing, and great interviews with guests. He has covered nearly every question/concern I had about cold calling when I first started. Very down to earth and realistic guy! Good luck!

@Zachary Bohn Wow thank you! An example with actual numbers is exactly what I needed. This was very helpful.

On episode #334 of the BP podcast at 55:45, Ben begins explaining the difference between taxes on interest and principal for seller financing. I've listened to the clip over and over and I keep getting stuck on a few parts. I'm mostly confused as to how the tax rate changes from 25% on only the principal to 25% on "everything". Is he saying that lowering the interest rate and increasing the price results in tax savings because you have to pay income taxes on the interest payments, which are virtually nothing? 

It sounds like a very useful tactic for negotiating seller financing and I just want to make sure I'm understanding it correctly.  

@Art Perkitny Thank you! I’m aware of the risks but just wanted another perspective on this. I appreciate it!

@Ben Sears better late than never man!

@Ben Sears I will check it out, thank you!

I’m from Flint, MI and starting my real estate journey there never crossed my mind, for obvious reasons. But then I heard a BP podcast about a woman who invests in rentals in Detroit which is a similar market to Flint. She bought livable homes for dirt cheap and started renting them out. She said something along the lines of “There‘s no such thing as a bad market, just bad landlords. Everyone needs somewhere to live. Just because they’re poor doesn’t make them bad people.”. This really opened my eyes to the opportunity right in my backyard.

I already have some knowledge of the market, the neighborhoods and people in them as I lived there for 18 years. I have been searching around and found some potential leads such as homes for pretty cheap in decent areas.

Does anyone have any experience investing in low income areas such as Flint or Detroit? Would it be a good idea to start my rental portfolio here since I don’t have a huge budget?

Hey BP,

I want to begin my real estate journey and throughout the last few months I’ve been educating myself as much as I can. Wholesaling seems to be the best place to start as it typically requires less capital than other strategies. I’m very interested in working with rental properties but I do not have enough saved up and getting a loan as a college student is unlikely.

Would wholesaling be my best bet for raising capital and then branching out into other strategies later down the road?

I’ve recently developed a method for finding properties with delinquent taxes through my county’s online parcel search. My county has been no help when it comes to obtaining a delinquent tax list in person so I’m trying to make one on my own. The only thing is that I’m not sure how accurate the information is. Has anyone had success pulling their own delinquent tax list online or through any method other than visiting their county?