All Forum Posts by: Leon O.

Darrell,

If you are wholesaling in the Houston area.  I need a deal asap.  Let me know if you come across something.  

They have tons of meet ups for real estate investors.  Try Meet-up.com I'm headed to one tonight at Houston Texans Grille with Jet Lending.  Free Beer & Pizza. This will be my first time going but I heard that they do it pretty big.

I hope this helped

Leon

Same thing in the Houston, TX market.  Plenty of smaller wholesalers pass the same deals around and around with all different prices.  I get them every morning too.  Find the main source, as it was once a deal.

I hope this helped.

Leon

Hi,

You want to do a Lease-Back agreement with the seller, where they pay rent for the days that they are staying. It is basically a temporary lease.  If you are wholesaling, you need to let the buyer know that there is a lease-back involved in the transaction as they will be collecting the rent from the seller usually at closing.  

Sometimes the seller will try to stay in the property, and that would suck as your new buyer will have to go through the eviction process.  My suggestion is that you set the close date for when they actually want to leave, then no problems.  If they are not out by close date, don't close until they do.

I hope this helped.

Leon

Hi Iris,

Selling a property to a bigger wholesaler is common practice.  If you do not have the buyer's yourself for a property that you have under contract, wouldn't you like to make some money on the deal instead of no money on your hard-worked/earned lead.  If you have something actually for sale, I have someone in Atlanta that I can refer to you that can make it happen and close cash.  Let me know if you are interested and I'll put their contact info on here for you.

I hope this helped.

Leon

Hi,

Home Inspections are for retail buyers.  It should be up to the cash buyer to do their due diligence before contracting/buying from you.  They are buying as-is.  If you need help with rehab costs, get a contractor to go out their and get you a bid they typically will do that for free hoping that they will get your business, instead of you paying $350-$500 for a Home Inspector.

I hope this helps.

Leon

I thought that the event that yall put on was great, and met a lot of like minded- people.  Would love to know when the next one is as well.

Thanks

Leon

I heard of a great group of guys doing it in Atlanta, GA.  They are doing some serious volume, and I think they can help you. Call Gordon Tran 404-780-1341 and let him know that Leon told you to give him a call.  He has helped me tremendously.

Let me know if it works out, and good luck with your real estate endeavors.

Leon

Hi,

I would suggest if he wants some sort of bachelor in business administration that he specializes in a field (Finance Major, Accounting Major, etc.) There are electives that he can take that can help in his future Real Estate Endeavors.  With a finance degree he can go into lending, commercial appraising, and things like that.  

You do not need a degree to be a real estate agent. I majored in entrepreneurship at Baylor University and it helped tremendously in how I run my investment business, but otherwise in getting a career it was limiting as it is viewed as a general business degree.

No offense to Real Estate Agents as well - I am one lol.

Just my two cents.

I hope this helps.

Leon 

Hi,

I really doubt there is a Hard-money product out there that will lend you 100% with no "skin in the game."  If you come across one please share. No such product in Texas.

The real estate deal would have to be a unicorn, for that to happen. Do not mean to be a downer.

I hope this helped.

Leon

Welcome to B.P.! I heard that it is a good market out in L.A., and there are plenty of Wholesalers out there.  

Side note:  I read that Jay-Z and Beyonce are looking into buying a $85 million dollar home out there, Hot Lead ... there would be a nice little wholesale fee if you get something like that for them

Leon