All Forum Posts by: Jay Famm

Can somebody please break down the 50% rule to me in simplified detail, thank you very much for the help. I just want to make sure I understand it completely.

Appreciate the responses everyone...this is a possibility for a friend of mine looking to make real estate investing a career...he says hes saved $15K and was aking me what He should do...since im no pro like some of you are on here I thought it would be an excellent question to ask the forum. So really its a toss up with the answers it sounds like. Please I dont want to over complicate the question, because he seems pretty fed up with his job, and seems pretty ready to make a move, I told him to do his homework first and really be prepared before making the leap... But sometimes no risk no reward!

Thank guys I really appreciate the help...very informative!

Excellent questions Joel.

Say you were an average minimum wage worker making around $1500.00/mth. All your liabilities add up to around $1500.00/mth, so your basically living check to check. Now, you have a savings of $15K that you have inherited or obtained that you would like to start investing in real estate with. 
The question is, would you 
A. Start finding property to buy right away? 
Or 
B. Wait till you could somehow living check to check save more money? To add to the question above if you chose A. What technique(s) would you chose in getting started, (examples: wholesaling, quick flip, rehab, tenant occupied, lease-option, duplexes) whatever it might be, which techinque would be your goto to get started with the experience that you have in real estate investing right now?  If neither A. nor B. what would be your C. option instead?

Hey fellow investors,

I have a few questions I was hoping to get answered.
1. What is a fair price to pay when it comes to a good CPA and real estate Attorney?
2. Can anyone tell me of any good CPA's and Attorney's that actually or real estate investors as well?
3. Is hiring a business plan writer a good idea in finding private lenders? If so, what is a fair price to spend for there services? Does this increase my odds in raising capital for my business?

One bonus question to add:
Me being a newbie, what are some good questions to ask CPA's and Attorneys during interviewing to make sure I'm getting the most for my money?

Thank you to all that reply!!!

Thanks alot guys...great advice! I'm really trying to build a real estate investing business from the ground up and thought I could get atleast some helpful advice which you guys definitely have giving me. I will follow your words and hopefully get help on really taking my business to the next level! Thanks again!

I was basically looking for any tips or advice in getting started wholesaling. I really appreciate your responses, thanks a bunch!

The only reason I was pursuing the wholesaling was to actually gain more capital. I do have some cash available now, but I'm not quite where I need to be inorder to start really investing in rental properties or rehabs just yet. Thats where I would prefer to take my business but I found wholesaling works but its alot more work than I was lead to believe. We recently sold a property wholesale but was looking for advice from any professions out there that could give me a more consistent way of closing wholesale deals. Once we build up enough capital, most likely I would only use wholesaling as needed. Thanks again for your knowledge!

Hey fellow investors,

Wanted to know if there were any seasoned investors/wholesalers out of Houston, TX, interested in coaching a newbie from the first stage to the closing stage. I have closed a deal already in a different state but I'm looking to try here in Texas. If any teachers or looking to share there wealth of knowledge to pass on the dream to another, please take this serious. Thank you for all those interested in advance!

Hey all,

Wanted to know if any more experienced wholesalers had any advice for a newbie. Could use some creative techniques and formulas in spotting good deals as well as closing them. What are the best markets and ways to receive the best pay offs. Any advice from big to small will be much appreciated.