All Forum Posts by: Evan Paul Broussard

@Eric Goodman thanks for getting back to me! I'll be the first to admit I'm not the most technologically savvy, that said i found a bunch of articles on this site on whole selling and I'll be sure to hit you up with the specifics!

Cheers

Hello everyone! I've started digging into wholesaling and found more questions than answers. I'm very new to not only investing, but the forum as well so forgive me if I mess up general terminology or commit any forum faux pas. 

Questions:

1. How do I establish a contract? Is it like a normal deal where there is a money deposit to hold the contract for the 21+ days that its not on the market? What form/agency do I use to make this legal? Is there a middle man in said legal process (title company)?
2. How liable am I if the deal falls through?
3. I know I need to find the type of buyer I want first, but should I contact them before I'm on contract or after?
4. How does wholesaling through auction work? What are the typical mediums to find properties to whole sale?

I realize this is a lot. If anyone has any references I could use that answers these questions I would greatly appreciate it!

Thanks in advance!

@Matt R. If you have Robinhood you can set limit buys and sells. I just tried it today and the surge from 10800 to 11000ish netted me about 200 after the trading fee. Its surging slot so if you time it right on the buy in (around 10800ish) and the sell (I believe in the next few days it'll steady out at 11300 based on trends last few weeks) it's not too far fetched to net 1000ish as you use the surges to your advantage. You can also buy in at percentages of a coin. For example, buy 1000 worth of coin at lower value and sell when it hits a higher value. Reinvest profit and then rinse and repeat until you have a full coin. All the projections I've seen for this place bitcoin at the very least of 25500 by the end of the bullish phase. Advice comes from a very novice crypto investor so take it with a grain of salt

@Ken K. Eck Thanks for the advice! I just bought the book and I'm working my way through it. I've already started trying to get in touch with property managers out there, but I'll definitely start asking around on the bigger pockets site.

I've found a market that I want to look further into and I'm reading up on the ins and outs of the BRRRR method. My question for all of you fine ladies and gentlemen is how to go about setting up the team I would need for this in the area if I'm doing long distance BRRRR investing. For example, I find a house that is 9900 (fixer upper) and want to start building a team. How do I vet property managers and get ahold of solid contractors/inspectors to make the renovation? Any references or advice you can throw my way to attack this issue would be greatly appreciated. Thanks for your time, patience and insight.

-Broussard