All Forum Posts by: Heberto Alanis

Got it. Thanks for the replies everyone.

I know it's one of the most popular phrases to use when creating a domain name, LLC, etc. for wholesaling properties. However, wouldn't it just be better to have a professional domain name for instance off the bat to: 1 differentiate yourself; 2. have long-term usage for the domain name if you decide to venture outside wholesaling later on. Just wanted to gauge the importance of using the "We buy houses in XXXX for cash" slogan in a domain name, etc.

Thanks for the responses everyone and for clarifying this. I was definitely under the impression that I could simply pass the license exam and get access to the MLS immediately.

Basically, you have to work as a licensed agent full-time for 3-4 years before gaining access to the MLS. You guys/gals just saved me some money. I was leaning towards signing up for an online license course in the coming months.

if I were to get a real estate license in order to gain access to the MLS, would I have to work for a brokerage firm?

@Javon Dixon I thought both books were really helpful. I recommend reading the book on flipping houses even if you are only interested in wholesaling so that you can get an idea of what flippers are looking for and what their mindset is going into a potential deal.

The estimating rehab book is great for wholesalers. It gives you a very good foundation to understand the type of repairs that a house might require. After reading this book, I was able to create a spreadsheet that can be used while walking through a house to check off required repairs and to calculate ballpark cost amounts on the fly.

Javon,

I am no expert. In fact, I just moved to Baltimore and am thinking of jumping into wholesaling soon. After reading J Scott's books on house flipping and estimating rehab costs, I have to agree that using $10 psf to estimate your costs is too arbitrary. I actually created a spreadsheet using some of the costs found in J Scott's books. If you are interested, let me know and I'd be happy to share it with you.

-Heberto

Thanks, @Brandon TurnerI will definitely check those posts out. I think driving for $s is the best option for me right now since I don't have a website, etc. to fully develop a Craiglist marketing campaign.

I want to get into whoesaling in the next couple of weeks or so. However, I still don't have enough capital to start a full marketing campaign (direct mailing, website, etc.). With that said, any tips on finding leads in the meantime by only spending a small amount of capital if any?

Here are a few I have heard of:

1. Craiglist

2. Drive for $s

3. Partner with local agent

4. Partner with title company - they receive reports on distressed properties

Coincidentally, I just attended my first local REIA meeting tonight. Learned and networked a bit but more than anything I just wanted to get my feet wet and see what those meetings were like.

All set up. Thanks!