All Forum Posts by: Cameron Sharp

When I started in 2003, the fastest way I learned about wholesaling was : I ran a ghost ad for a property in the paper (we used the paper back then, today it's online:)

My ad stated that I had a fixxer upper to sell for cash. Then I waited for the calls to come in. When the investors started to call, I added there name to a list (my new buyers list), and then asked them a ton of questions for example:

- First, I told them that property was no longer available, but I run into good deals often

- What type of deals are you looking for?

- What areas are you buying in?

- What formula do you use for buying your properties?

- Can you pay cash or are you using financing? (If financing) What type of financing do you use?

- Have you worked with wholesalers before? If yes, how did you set up the transaction with the wholesaler? NOTE: This is where they are going to teach you the best method in your area for transacting a wholesale deal to an end investor.

Add the questions you want to ask and want the answer for. They do not need to know you are new, they will provide you all the info on what they look for, how they buy it, and how they determine a good deal. Then, you go find them what they are looking for and you have a buyer.

As for the license question, I think it is your preference. It depends. I have been investing for 11 years actively and do not have a license. But that is my personal preference at this time.

Best of luck

I recommend doing seller finance option for long term properties if the conventional loans are not in your strategy.

You're right about Hard Money, too expensive and most, if not all of them, will not do long term financing.

Good luck,

@Scott Lunn a business line of credit may be a good thing if you use it wisely. Form a neighborhood institution, you are looking at approx 50k to start and can build up from there. Depending on your credit and some other factors, and if you have a business or not.

Some people or institutions will help you get a larger amount. Some of these people/places may charge a percentage or a fee for the amount of funds they get you. There are also fee based DIY programs to teach you how to maximize credit lines. Be wary of a deal where you are charged to get a line of credit, some scams are out there.

Consider people you know who have a Roth IRA, where they can self direct their funds into Real Estate Investments. Any cash down fall I have had for deals, I have used Roths to fund my deals, and it has worked out exceptionally. In addition there is "love money" (it's not what you think LOL, love money meaning, people who love you and will lend to you, usually friends and family)

Hard or Private money is a great way to go. I fund virtually all my deals with a combo of all of the above.

@Rob Pasche I have noticed in my area, typical interest rate at approx 5-8% on a business line of credit. You only pay interest on what you use.

Best of luck