All Forum Posts by: Jason O.

Originally posted by Financexaminer:

I'm not sure you might follow them if they begin with saying you can flip an option .

I would suggest you get a real estate text book, that's what I always suggest for newbies.

Actually, I was at Barnes and Noble tonight and reading Eldard's book. I was in the section of lease option. As I read, I was thinking: Can these lease options be flipped quickly if I had a seller and buyer? Or, maybe the term would be wholesaling an option?

Interesting you say real estate textbook. I got deeply interested into real estate when I found my dad's old real estate textbook lying around. I'd ask him, but he never did the real estate.

I always dreamed about owning some property, but it was too overwhelming to actually do it; and, I had to pay off most of my debt. I'm at the last one. I'm quite proud of myself. ......and, the old real estate investing itch came back again. I've actually started to save capital, a humble amount, just to get me in the mind set.

I appreciate all the supportive words of wisdom.

I hope you don't mind if I add each of you.

Right now, I'm just learning and getting a feel for all this. It's a lot of information. I have to learn a lot before I feel comfortable. I do a lot of research before I do anything, especially when it's something new. Knowing me, I'll probably need 12 to 24 months to learn and be comfortable, while I pay down that one debt. Though, this bird dogging business I've read on this maybe a fun way to learn and earn. There's so many investment strategies. I still need to think about which strategy and due diligence on each.

@Curt. A class wouldn't hurt at all. I'll know the right questions to ask after the class.

Is anyone going to answer the original question? What's the cost of putting a property on contract?

Originally posted by Curt Davis:

Either buy a RE course or pay off your debt first. Good luck.

Thank you Curt. What do you mean RE course? A real estate license course or a REI course? I thought about doing a real estate license course in New York City but wasn't sure, yet. I was set to be sponsored by a NYC rental agency.

And, I'll get more aggressive paying off that debt.

With regards to fee, can you charge a rate against the price of the property? A percentage or fee according to price range (100k to 200k = $500, 201k to 300k = $750,, etc)?

Thank you both. I have a problem. I have bad credit and have had trouble paying off this one debt.

In order to protect my assets, I should start an llc or trust, right?

Originally posted by Mark Claire:

spend some time searching the site. Yes there are ways to do it. I personally don't think wholesaling is the easiest way to get into RE investing, especially if you're new to the game! If I were you I would start with a buy / hold / rent. Do that deal, and you'll learn a lot, and make some good connections that can help guide your path.

Mark,

Eventually, hold and rent is what I want to do. Is there a way to do this w/o cash? Will lease options work?

Jason

Is there a cost to from me (the wholesaler) to put a property under contract?
If there isn't any, how is that so?

What's the normal rate an investor charges for a short sale deal?

Chris, Thank you.

Jason

First, is this possible? I find a seller and have a buyer to make a quick flip. I buy the property in my name and quickly sell it to the buyer. Do I have to have the property in my name first?

Second, what's all this buyer list for? How do you profit from that?
Are there any laws or regulations with this transaction?