All Forum Posts by: Gary Wyatt

It went great. I met lots of nice investors that I have learned a lot from. I was also able to find five private money lenders that wanted to find something to do with their money. One investor actually shared with me how well he does in bird dogging. He actually has at least three wholesale deals every quarter. He shared with me the outfit that trained him, and the price was reasonable. I went through some training and learned so much. I have been searching for wholesale deals, but the small town I live in has a least 25 investors in it. I am still trying though. I have looked for distressed houses, left flyers, and have followed up every month. The calls we are getting are not interested in the offers we are giving, and it goes cold. How are you doing?

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I was just curious if you bought the package, and how it is going for you. 

By the way, don't buy the $50K package.

I am taking the course write now. It is a good program..."IF You Actually go out and work at it". Most do not follow through, and waste their money. 

I am just getting started in real estate investing. We have a home that has about $60 the $70K, and we really have no cash to invest into flipping houses right now, so we have to start with either wholesaling or flipping first. 

My question is, if we got a HELOC on the home to give us money to do a couple of flips to get started, should I not be worried about losing the home if the market tanked? That is the only thing that has kept me back so far, is the fact that I could lose the home. I have a feeling the market could be in for a correction soon.

Everyone tells me don’t worry about that, that whatever you do in life involves risk. They say jump on a deal if you find one, so you don't lose a it.  That doesn’t help the fact that I am still concerned. What is anyone’s thoughts on that?

Also, another option would be to sell our home, and use the equity to put toward a flip with a partner. Would that be a better option than doing a HELOC? I know we would have to turn around and purchase another home, but we would get a much smaller home which would hopefully be at least a third less of what our house payment is now.

We could also refinance. But then we would have to pay all of the fees. Not sure which way to go. I just don't want to make the wrong decision, because that would be a disaster and we would really be really going backwards.

If anyone has any feedback, that would be awesome. Thank you in advance.

Thanks James, I have listened to a few webinars here on BP, but that is about it. When I get an email of a webinar that looks interesting, I will watch them. I didn't know if there were others that I could watch at any given time. I thought it was only live. I will look and see if I can find a catalog of podcasts to watch from the past. Thanks for that information.

As far as the REAl, I have joined the local chapter and have gone to two meetings so far. I missed the last one on Tuesday. I have not gone up to talk to anyone but one person my wife knew. I don't know whether to hang low till people see me going for a bit, or to just get up and start talking to them. I kind of feel if they don't know me and get right up and start asking them questions, that they may think that I am in their space or get offended. Then I am screwed with them. That is what I am afraid of most, is burning bridges, so I am taking it easy, unless you think that I should be doing otherwise.

Thanks for the advice. It is appreciated.

Michael, L.  Awesome information that hit it right on the nail. That is exactly the information was looking for. And you said it in a way that I can relate. Thanks so much.

Great idea. Thanks John S.

Sounds like a good plan. I think I will let them see me there a couple of times, then start talking.

So do I just go up to them and ask them if they are an investor, lender or a buyer?