All Forum Posts by: Brandon Krieg

Gary Marker Well, you've been kicked in the teeth. It hurts! This is a big moment though, and it feels like you're facing it well. Just remember, get up and keep working at it.

I feel like I was the master of getting 6 inches from the finish line and then something being 'off' - whether that be an inspection, someone flaking out, or whatever. So I feel like I've been in this boat! If you keep working, you CAN and WILL make it.

Thick skin usually comes from scar tissue. Each experience helps you learn, and the fact that you're on this site already shows your head is in the right place. Keep going!

And by the way, K. Marie Poe, that's an amazing offer, and I'm impressed. Thank you for being a model for how we should reach out to one another.

Welcome Michael! I lived in Bloomfield for many years. If you have any questions, please feel free to shoot them my way. Also, if you'd like to meet up for coffee sometime, I'd enjoy it.

Good luck!

I am always wary of 'the sky is falling, everything will be different now' predictions. Things are constantly changing, but people will always be buying, selling, and renting houses.

Sure, the interest rates will change things. But they were never going to stay at record lows for very long. Just adapt and roll with it... all of us on here are primed to survive the changes if we keep our eyes open.

Tyler Shagi Try reading up on some of the posts on here about Craigslist. You can find both buyers and sellers on there. While it isn't always very efficient, it is free. So if you have more time than money, it could be a good way to go!

Agha Abbas I work in Michigan, and I think some areas are stable, while others less so. For instance, there can be a big difference between the City of Detroit and some of the surrounding suburbs. I'm happy to recommend a few areas - it can be tough investing out of your home region!

I can't speak as much to the San Francisco market, as I've never worked there.

Welcome Brian!

I'm in Ann Arbor, just a short shot down 23. Please ask me any questions you might have, and if you want to get coffee or lunch, it would be fun.

I also really appreciate the knowledgeable and largely pitch-free community here. As you read more here, you'll come across a lot of info about how wholesaling is a business in itself, and takes more work than a lot of the gurus indicate. But it can be done!

Also, ask a lot of questions... there are a lot of smart people on here.

Eric Reichelt Welcome! I'm in Ann Arbor, and it's good to see more people jumping in around here. Bryan H. is all over the practical advice... he seems to know the area well, so he's a guy to talk to!

I wanted to mention another part of your post, the element of doubt. You're not alone! There's a lot to know in Real Estate, and it can be quite scary to jump in. But it seems like your head is in the right spot. Just keep learning, work hard to minimize your risk, and run numbers until you're really confident in what you've got.

And most importantly, act! I think the only way to power through the fear is to take the next step. If you've got a good plan (it sounds like you're thinking this through), just keep moving, and you'll get there. Good luck!

Andy M. - Great points. I agree.

You have to leave a LOT of value in the deal for the investor. 30% is a pretty good minimum, and shoot for more.

Get really good at finding deals and negotiating with sellers, and NEVER just 'throw something at the wall' to see what sticks. If other investors look at your first 3 offerings and they're all mediocre (or bad), they may write you off - and that would be bad for your business!

Hi Jonathan,

I'm always looking for creative financing options, and they can be very beneficial. While you need more overall knowledge to pull them off, there can be a lot of positives if you set it up right:

-Better Terms
-Lower Down Payments
-Better Interest Rates
-More flexible payments
-Opportunities to have some of your costs covered

And many more. I'm sure others can chime in. But I try to explore all of the available options, and then pick the best one. Conventional financing can be the way to go, but there are a lot of other possibilities that you can profit from as well. Good luck!

Hi Deborah,

In my initial conversation with sellers, I let them know that I'll need to see the place before I can put an offer in. I know there are plenty of people who are comfortable investing 'sight unseen' into properties, but I like to see and feel the house and neighborhood.

Once I'm there, I explain the process, the speed of transaction, etcetera. As with all wholesaling deals, it's important to have an idea of who you might sell to at the end of the day. If you're confident you can sell their property fast and for cash, they will feel that confidence.

Also, it's probably good to mention that this just happens sometimes, and not to stress about it too much. People's situations change, and motivations may disappear. And if you get a weird vibe, like something wrong or shady is going on, I'd say just walk away.