All Forum Posts by: Eliott Elias

There is no roadmap on the best decision for you. It is solely dependent on where you see yourself in 10 years.

This is the market to buy cheap real estate, not to sell. Flipping in today’s market is like catching a falling knife. Who knows where the market will be once the project is done. I am personally buying properties that cash flow right now.

Do not be too eager to buy a deal. Run your numbers conservatively, and cherry pick. This is the market that can make or break investors.

Realtors and wholesalers are the best lead sources in my opinion.

A good wholesaler is transparent, not vague. They vet you in the same manner that you would vet them. If I were you, I would be subscribed to as many wholesaler lists as possible to see what is out there.

Every single distressed list yields motivated sellers. Your best chances of landing a deal is in the conversations you have. There is a very high likelihood that once you get a seller on the phone, you are not the first person that has proposed purchasing the property from them cash.

What you want to do is put the sellers interest first and accommodate to their needs.

Use an attorney owned title company to facilitate this transaction. I use Ceshker Title in Austin to draft my notes.

What you can do is let the tenants know the property is up for lease and to keep the property in good shape for showings. Most tenants understand and are cooperative.
In terms of showings, you are going to have to keep the tenant informed and work around their hours. Give them a 24 hour notice at least.

Take over the deal subject to, you will be deeding the property in your name while keeping the mortgage in your family members name. The bank will not, and should not know that the property has been sold, or else there will be a due on sale enforced.
You can fall into a rabbit hole on YouTube on this topic. Make sure you understand the pros and cons. 

Any type of sales job where negotiation is also involved is the best set up for a real estate career in my opinion.

If the owner does not want to list it, I wouldn’t waste any more time on this deal.

Negative cash flow is never a good idea. Move on.