All Forum Posts by: Jon Carter

Hey All!

Sorry I have been absent for a bit.  Regular job and all.  I want to thank each and every person who responded.  I am going to focus on the wholesale side and see how things go.  I have begun to put together a business plan and educating myself through the podcasts and articles on Bigger Pockets.

I will keep you updated.

Hi Everyone!

WOW!! The response has been overwhelming.  I am trying to take it all in.

There is one thing though that makes me curious.  I hear so much about no money down.  Maybe it is just because at this point I am uneducated but this sounds so much like a late night info commercial.

 I am currently reading Mr. Hicks' post regarding land contracts.  Is there a link or podcast specifically for no money down scenarios where it explains how you approach a potential property with no money down and don't come off sounding like a shyster?

Thanks again.  You all are blowing me away!

Good Morning Everyone!

Thanks for the responses so far.

Questions -

Where can I find the best information on Bigger Pockets for educating myself regarding Wholesaling?

Is there a link someone can provide regarding the sub $30K?

Any thoughts on trying to buy a condo/mobile home at a tax deed sale in order to generate income?  Or buying vacant land at the same in order to flip?

Before going to bed I wanted to review what I have so far:

Wholesaling – Sounds more like a job.  But also sounds like something that can be done at your own pace.  The key seems to be to hook up with the right rehabbers and investors. That would mean a lot of networking, which can be fun. Seems to require more time than money, which isn’t a problem.  Money (any amount budgeted) can be used for marketing.  Still not sure how much you can make at this.

Commercial – Sounds really technical.  Seems like trigonometry compared to basic math.

Buying notes –  Like commercial, this sounds really technical.  It’s like you have to crunch tons of information before coming to a solid conclusion.  I looked at a website and got blown away.

Mobile Home Rehab – How big can a mobile home really be?  Then again, how well can it be constructed in order to rehab it?

Rentals – Use seller financing, partner up with a rehabber, partner up with a hard money lender, go for sub 30K properties, and really know the market inside and out.

Unknowns – Reg D – This is something I never heard of.Expired listings – I'm not sure where I would even find them without having access to the full MLS.

Lots of advice about She Who Must Be Obeyed.   All appreciated.

Thanks and hope to hear even more.

Thanks Christy!

It sounds like Wholesaling is more of a job, though, as opposed to investing.

Would you agree with that?

Investing seems like you have (to use an overused term) More Skin In The Game.

How much of a finder's fee does the wholeseller make?

Hey Will!

So a wholeseller looks for the buyer first and then the seller that has a property that meets what the buyer is looking for?

Hi Kathy

Thanks

I think I'm going to have to Google a lot of what you suggested since I'm not familiar with the terms.

But, like I said.  I have the time and will make the effort.

Ouch Jon.  Those are rough odds.  But I appreciate the honesty and advice.

Richard, have you done mobile home rehabs.  How did they go?

Thanks Christopher!

I didn't mean to start anything.  I was just really trying to understand and learn.  I hope I'm not going to get people upset.