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All Forum Posts by: Gary Mariencheck

Gary Mariencheck has started 6 posts and replied 30 times.

I can't begin to say how pumped I a to finally be doing and not just talking about this. I am a new member of the Sean Terry Flip2Freedom academy and I do want to say I find the videos very informative. Some are a little outdated on certain sites he recommend but nothing that you cant figure out while watching. I've read "Think and Grow Rich along with many other books previous to making this big leap. In my first 20 minutes I had 3 cash buyers sign up on my site and more adding to my list daily. I'm stoked.

I've talked with an agent about HUD and he seems to think we can make some things happen.

Is there anyone else on here in the F2F academy?

Post: Where to find deals

Gary MariencheckPosted
  • Horn Lake, MS
  • Posts 31
  • Votes 3

try - usleadlist.com

Post: Earnest money on contract.. Need correct info

Gary MariencheckPosted
  • Horn Lake, MS
  • Posts 31
  • Votes 3
Originally posted by Michael Wagner:
Gary Mariencheck, your question is a good one but unfortunately it, like so many......is answered by the all to common "it depends". While I agree that 10% is a good starting point, it is not a hard and fast rule. Remember that you, as a wholesaler, need to be finding DEALS which by definition are considerably below market. By doing so, you can add your fee and leave enough profit on the table to flip the contract to another investor. Finding deals like this requires that you find motivated sellers! Motivated sellers aren't in a position to "require 10% EM". These folks are obviously harder to find but that's why other investors will pay you to find them.

Having EM does make you a "stronger" buyer so as you achieve some success, consider saving a portion of your profits to use as EM. The contract can be written such that your deposit is refundable so your not really risking the money but you are gaining credibility by employing the EM. Your end buyer would then just reimburse you for the EM upon assignment.

Hope that helps!

Ok, The thing that got me worried was that I was told that not putting down 10% EM or "proof of funds" in Tn was fraud. That made me reconsider my tact in wholesaling... lol I wanted to post that up on here and see if this is true. I know there are members on here that would know this information. I'm not in the "Fraud" business and never will be. I just want to make the best for my family. :)

Post: Earnest money on contract.. Need correct info

Gary MariencheckPosted
  • Horn Lake, MS
  • Posts 31
  • Votes 3

I would be working with individuals. REO and such after I establish myself.

Post: Earnest money on contract.. Need correct info

Gary MariencheckPosted
  • Horn Lake, MS
  • Posts 31
  • Votes 3

So how do I hear about these no money deals being done using contract assignment? Is this false information?

Post: Earnest money on contract.. Need correct info

Gary MariencheckPosted
  • Horn Lake, MS
  • Posts 31
  • Votes 3

I'm getting conflicting information on earnest money down for getting a property under contract. I'm told that 10% EM is the standard in TN and that you have to prove funding before you lock a house under contract. Is this correct info or am I being mislead or possibly misunderstood?

Post: My first contract and YL campaign.

Gary MariencheckPosted
  • Horn Lake, MS
  • Posts 31
  • Votes 3

I'm definitely keeping up with this thread. I have yet to go after everything... I guess analysis paralysis... building myself up to it! Keep it up man!

Post: I'm officially in business - My Tale

Gary MariencheckPosted
  • Horn Lake, MS
  • Posts 31
  • Votes 3

I'm interested in seeing how this goes. Any news?

Thanks for the warm welcome! I have been searching these forums vigorously..lol. I've also been listening to and reading Kiyosaki, Trump and Sean Terry for quite some time now. If I'd been listening to Sean Terry I'd have pulled the trigger by now and started sending out yellow letters.

Hi, I'm Gary. Ive been interested in real estate for a number of years now. i actually had 2 buy and hold properties back in 2008 and bad times hit financially and took me out of the business. I've evaluated and learned where I went wrong and now I'm ready to move forward....again. :)

I've since then been blessed with a son whom I want nothing more than to be able to provide for and spend more time with but I currently work a full time job and run a small home business. I'm wanting to get into the wholesale side of this business. I welcome and appreciate any and all advice and criticism.

Thanks everyone! I loo forward to getting to know everyone!

Gary