All Forum Posts by: Peter Haymond

Thanks Loretta that's a great idea. A local REI is having a meeting this Wednesday that I'm going to attend & do my best to find the seasoned wholesalers.

Ross that's totally true that networking is huge. I've already networked with a lot of people, although referrals are more powerful when I can actually send 3rd party leads their way in exchange for a marketing campaign fund if they close on the deal. (for Realtors for example)

Stephen that's a great idea to bird dog properties off to other investors. I was working with an investor before doing that but I didn't understand marketing at the time to make the relationship win win.

I appreciate everyone's time and I'll be sure to post soon on BP.

I'm 22 and going to graduate college this August. I'm quite frustrated because I can't afford to do marketing yet for my future rehab/wholesaling business.

I've been laid off 4 times for full time hires and it's hard to keep a part time job in the bay area.

My parents have a business and own rental property, they want to do REI full time but make excuses; for example they tell me they are busy selling one of their smog shops and partnering with someone else, or selling a property in sacramento & buying a short sale in LA, or busy watching my little sisters softball games. But I've noticed that people who make excuses don't make a lot of money. I've learned a lot from my parents mistakes.

I've studied REI for 2 years now, joined investment clubs, heck I have Clint Coons coming to my investment club in May (if you know who he is look at his articles on BP), and I know how to wholesale properties.

But in order to run 5-6 marketing campaigns it costs much more then I can afford just working a part time job.

My parents want me to graduate so I can take over their business and do REI full time after college. I plan on creating systems, working my tail off until I can transition from technician to manager to entrepreneur in my business and build my own little empire out here in the bay area.

I'm already following the E-myth book by Michael Gerber and I have marketing campaigns ready, positions contracts done, I've researched key team players to work with (contacted a few), and I'm stuck. I have the knowledge and I can't seem to translate it to results. It's quite frustrating although I love challenges.

Thanks for your time and any feedback would be great.

Will I definitely like the rehab work your company did on this property. Do you ever wholesale property when you have too many projects going on?

What about your other advertisement mediums?
How often do you post flyers? Band it signs? Send post cards? etc?

I've had a lot of success using craigslist and I usually repost different ads about 1-2 times per week with an 800 number. I also am working on a website. Lots of cash buyers out there in the bay area!

Bryan thats a good point. I learned that businesses use corporations and my parents have put their tangible assets into separate individual LLC's. Setting up a SD entity is a good idea. Thank you!

Thanks for the kind comment Bryan. I guess my parents raised me well! I also appreciate everyone's input on this subject. I believe it's settled and this thread should be saved for anyone who has this question in the future.

I plan on starting my own LLC this year and opening my own SDIRA. Thanks for everyone's help again!

I'm building my buyers list and I had an idea to contact all the landlords of Section 8 housing here in the bay area to find out their criteria and add them as cash buyers to my list.

Unfortunately, all or most are represented by property management companies. How would I get the investors criteria if the property management company is representing them?

Or a Self-directed Roth 401k?

How do you set up these accounts?

My parents use "The Entrust Group" for their self direct Roth IRA account. Are there any other companies that are good with self-directed investment accounts?

Thanks for your time.

Correct. Volume as in 4-6 properties per month. I'm also working with other investors to make this happen as a business. That's why I suggested if I target areas such as Danville, CA 500k plus house with little equity is still more attractive to the agent then some property in San Leandro.

Thanks everyone for your replies. In CA brokers can be compensated as Steve suggested. And Steve that's exactly what I was going to do except I just plan on wholesaling everything until I can afford a down payment, taxes, maintenance etc.