All Forum Posts by: Ernest Chamblee

Amazing feedback @Jay Hinrichs. Thank you very much for the response and details. Very cool stuff.  You and the wife have done well for such a long stretch.  Appreciate the perspective.  

Professional perspective is what prompted the question.  When I began wholesaling it felt like a grind, like a hustle (which I love), but as I talk and interview with brokerages it feel like an actual career shift, which is a good thing.  

I will take into consideration you words, and may have some follow up questions thoughts as I continue stepping on this journey! 

Thank you.

Ernest

 (great episode on the podcast btw, appreciate your response)

Thank you very much for the response and perspective @Leslie Bandy !  Really cool your brokerage cross trains for investor clients.  I appreciate your time. Do you run  active marketing campaigns in your area, or pursue the worthwhile deals as they come? Sorry, I bet I will have more questions. lol

Ernest 

Hi @Scott Kujak Hope all is well! Glad you are getting started.  Building a team is wildly important, and you won't find too many Gurus on BP! lol. That's a good thing. I hear Texas is has some very nice markets.   

Very good questions! Here some of what works for us.

1. Buyers:

- What is your current buying criteria; is that changing in the next 6 months?

- How many properties are looking for in the next 6 months; how many do you currently have in you pipeline?

- Will you be purchasing with cash (PML, HML etc..) or financing?

- What else would you like me to know about your business and goals?

2. Sellers:

- How can I help?

- Is there anyone else on title/mortgage we should be talking to?

- When would be the ideal time for closing to occur?
- If you were staying in the home for another 10 years what would you fix?

- Is that price flexible?

Hope any of it helps! Best of luck.  Hope to hear some success stories. 

Good day BP community, hope all is well! 

I would like to discuss the balance of being an agent-investor, or investor-agent (whichever way you identify).  Many investors pursue the license for it's perks, and many agents begin investing once they become comfortable with the transactions. To those active on both sides:

Is anyone in the BP community successfully operating two businesses, a full on Real Estate Salesperson Business and an Investing business (wholesale, flips and holds)?

Which did you start with; Investing or Agent?

What challenges have you faced that you attribute to the difference in businesses?

If you had to choose just one to operate, which would it be?

Recently passed State and National exams, and would appreciate some perspective. Thank you!

Ernest 

@Amit Kumar I believe when you narrow down your focus to an area and drill-in on getting one deal done in one specific market you will gain confidence with some experience and network with out-of-state investors.  I hear Chicago is a really prime market for remote deals and rehabs; maybe @Elbert D. will be a great team member in the Midwest.

Baltimore is a good market as well; depending if you are going to flip or hold. Either way, I would say pick a spot, virtually network (BiggerPockets plug), and see if you get comfortable. I am in Northern VA, so if you decide Baltimore is a market you find interest in, don't hesitate to PM if I can ever help. Excited to hear your successes!

 Hey there! Hope all is well. In which state and markets are you interested in investing?  What is your exit strategy - if not turn-key?  

Thank you @Jonathan Damon ! Loving the community! How are you doing out in SC?

@Jake Torrens thank you for the message and excited to network.  Just sent you a request! Look forward to building and learning more about your goals and helping anyway I can! Talk soon. 

Checking it out now! @Scott Trench you are crushing it brother! Thank you for the share @Mindy Jensen 

Hello @Ryan Robinson !! Hope all is well.  Are you look for active wholesalers or just more deals?  What is your primary area of operations?  Are you looking for Properties in the Prince William County Market?

I can share what questions I get asked most often, and what best practices I use to ensure that the deal is a win-win-win.

1. Ask the wholesaler to review the whole purchase-and-sale in addition to the assignment addendum (if it is an assignment).

2. Ask the wholesaler what is their exit-strategy if you do not pursue the opportunity 

3. Ask the wholesaler to walk you through the marketing strategy, the buy-seller conversation and what the true expectations of the seller are

4. Last but not least, confirm the total the earnest money that the wholesaler has committed to purchase 

5. All else fails, go with gut.  The deal is with the people, not with the property.

Hope any of it helps, and thank you for the opportunity to field the question.  Best of luck and please connect if you are interested in the PWC or Southern Fairfax market.

Best, 

Ernest