All Forum Posts by: Account Closed

There is also a list of books at biggerpockets.com/books

Hope that helps!

@Clarke Wegener

The book "The book on investing in real estate with no and low money down" has a chapter on wholesaling. Also, there is a free guide to it on the BP education tab. As well, it is very easy to find multiple different resources throughout the internet. Primarily, there is assignments and double closings (double escrows.)

Essentially, assignments are where you put a property under contract, then sell said contract to someone else for a fee. This can be illegal in some states due to brokering laws (i.e: what a state defines as brokering.) If you are a RE agent, then you can assign contracts without worry. 

However, double escrows are safer in the fact that you buy the property, then immediately sell it, usually within the same day. So the house goes from A to B at 1pm, and from B to C at 2 pm. This method requires closing costs and other costs not incurred from assignments. This is important to note because after doing 30-60 deals a year, little costs snowball into large ones and detract from overall yearly profit.

Full disclosure, I am a moderate newbie and have gathered all this info from the forums, BP free weekly webinars (found under BP education tab I think), and talking to others.

Happy hunting!

@Lynsey Wilson

F.ollow

O.ne

C.ourse

U.ntil

S.uccess 

Pretty sure thats from Robert Kiyosaki, but keep on searching. Nothing good ever comes easy!!

Checking in from Mokena, Tinley, Frankfort area! I am also a newbie! @Ray Herold

Congrats @Jarvis Bailey, good luck and hopefully lots of return cards!

@Francisco Garcia Jr (Should be fixed now!)

Greetings from Illinois,

My area, one hour outside Chicago, is also experiencing a decrease in SFH construction as far as I can tell. However, apartment/condos are being constructed currently and/or just finished. However, I live in a more developed part of my town. Looking 20 minutes away in New Lennox, IL, it is possible to find SFH construction due to the undeveloped land in the area.

I've included photos of the new condo/apartment complexes being built in my area that just finished construction in 2016 for points of reference.

Hope this helps!

Aside from the list of 20 books provided by BP at biggerpockets.com/books, does the community have any other recommendations?

Thanks in advance!

@Robert Swingle @Dave Martin @Guy Gemmer

Full disclosure: The only things I have heard about ABQ has been from people reviewing the University of New Mexico in ABQ. From these reviews of students saying the campus was generally pretty safe but it was best to not go out at night and that any unsafe situations were caused by the nearby area. As I plan to go to the University of New Mexico, I would appreciate some insider info on the town if possible! (i.e.: What its like? Areas to avoid? Reviews of the campus. etc)

@Brian Jordan Do you have an LLC to protect against lawsuits? From what I understand, an LLC would be beneficial for assignments because of the higher risk involved (vs Double Escrows.) Isn't there a way to have the cash buyer pay for all the fees (closing, the cost of buying it in the first place, contracts, etc)?