All Forum Posts by: Heather Pelletier

Hey Josh,

I'm pretty sure it is, I just thought there might be some loop hole I was unaware of. Regardless, we are moving forward and will take our other classes. I'm not saying I haven't learned anything, I just now know there are other ways to learn. (less expensive ways) As I've read time and time again, these classes tell you all the good stuff, we're learnig the bad on our own.

Thanks for your reply.
Heather

Just curious if anybody has had any luck getting their money back from a guru? I signed up for Rich Dad training over a year ago and have taken 2 of the 4 classes we paid for. We were at a point in our lives when things we difficult and took the plunge. Fell for their trap, hook, line and sinker. We have taken the wholesaling and lease options class and ran into some snags when we attempted to apply what we learned. We have 2 more classes to take but if there is any chace we'd much rather get our money back. I know it's a long shot but I thought it was worth asking.

Heather

80% owner financing is where the current owner of the property carries a note rather than you getting funding from a bank.

Do you know if banks will ever consider this a downpayment?

Thanks Jon,

I agree with you 100% that's why we decided to try and wholesale it and not keep it for ourselves. We've never attempted a wholesale deal before. Who knows what will come of it. It's encouraging to have feedback I agree with, it shows I really am learning something through all of this. I'll let you know if we manage to close on this deal.

Thanks again for your replies,
Heather

Thanks for your reply. We figured we'd try and wholesale it, we have nothing to lose. I assumed it was a long shot, that's why I created this post. Should we lower our fee to 2-3K, it probably wouldn't make much difference. Regardless, I'm thinking it might attract a homeowner rather than an investor. Considering it is habitable it might work. I'm just impressed we were able to negotiate her down from her 120K asking price, that within itself was a small victory:)

Why would you consider offering 157K if your MAO is 100K. Offer what you are willing to pay. Keep in mind I am NOT an experienced wholesaler, I just don't think you should EVER offer more than you are willing to pay.

Good luck,
Heather

We have a 3 bedroom, 2 bath house under contract for 83K, we will offer to investors at our REIA meeting, put add in local paper, on craig's list and send e-mail to a few rehabbers. We have never attempted to wholesale before, are we missing something?

Here's the information:
ARV-160K
nice neighborhood
estimate 35K in rehab, although you could live in it now.
asking price 88K.
Gross investor profit 37K

What do you think, is it a good enough deal to make a 5k profit? Any other suggestions you have would be appreciated. This was FSBO. I have to admit, we wouldn't buy this ourselves, not enough of a discount but I'm sure there are people out there who think this is cheap. What is the average gross investor profit with a wholesale deal anyway?

Thanks,
Heather

This is an intersting thread. It's nice to see what kind of backgrounds we all have.

Since high school I've worked as a dietary aide, patient registration clerk, medical secretary, stay-at-home home, cardiac technician and now I currently work as an EEG tech. I have always worked in a hospital. I can't imagine not working with patients, I love them. My husband is the one who hopes it be a full time real estate investor and I support him 100%. I am intersted in real estate, it's always been a passion of mine. It's something we enjoy doing together however, I have to say he is much more committed than I am.

Thanks for all your replies, I appreciate it. Matt, we have asked for verification of the other offer. Thanks for your advice.

Heather

Thanks Jim,

I'll let you know how this turns out, it's an REO so we could be in limbo for a while:)