All Forum Posts by: Luis Gutierrez

Thank you guys so much for that feedback. I really appreciate it. It was really useful and helped me understand it a little better. And yes I think the wholesaler should be straight up honest in the beginning of the deal.

So basically as an example for starters in wholesaling, starting, one can be a couch potato that has no job, little money, decides to put in some work for a while and make a first deal. So one day searches for distressed homes on Craigslist, stumbles across a good offer, contacts the seller, puts it under contract per se $55,000, finds a buyer asap, assigns the rights to the buyer for $60,000. Deal is done, netting a $5,000 profit.

I'm trying to look into Wholesaling, but I'm a little confused. Does a wholesaler buy the property with his/her cash and owns it temporarily while he/she finds a rehabber/investor that will buy the property for a higher price? Does he/she find funds from a private lender in order to fund the deal first? Or does the wholesaler just put it under contract "pretending" or "lying" that he/she is buying the property when in reality he/she will assign it to an end buyer?? How does it really work??

Thank you guys for the feedback. I really appreciate it!

The type of investing I'm more interested in is multi-family residential properties. I want to buy to rent, and generate a passive income.

Hello everyone! I'm 21 years old and I want to start investing in real estate. The problem is I work a part time job and only make about $1,100 a month, which is nothing! It will take me forever to save for a down payment for a house. So I thought on becoming a police officer in the meantime, they make about $50,000 a year in my area. I think I have a chance on saving money a whole lot faster. But I will have to wait 2-3 years to come up with a good $20,000-$25,000 down payment. What should I do?? Become a police officer and save as much money as possible? Or are there more options out there for me right now as a 21 year old to start investing, besides bank loans? Basically my goal is to buy a house with the down payment, and then put it for rent asap, so the house can pay itself from tenants in the long run.