All Forum Posts by: Jeremy Jones

You all are truly amazing! I cant believe there are so many people looking to help each other out! Especially with something so scary!

My other option is to pull equity from my house to cover the 20% and finance the first Property! I imagine it would have to be some sort of flip in order to pay off both loans! this would mean my profits are down but if I buy cheap enough I should have a suitable profit to re-invest!  

My goal is to eventually get to the point i am adding 2/3 rentals to my portfolio and one flip per year! this deal is more of an example how ever I believe I am looking to make a quick enough flip to gain the capital to start buying cash deals through the Brrrr method! 

as far as the contract questions I literally have no idea of the process other then what you guys have told me so far! I was thinking I could get a seller to agree on terms and a date and i have until that date to renovate and sell the property in order to use my profits to pay my end of the closing cost resulting in me only coming out of pocket for down payment and renovation. I might not make sense because i am trying to do all of this without coming out of pocket much. just enough to gain a reasonable profit 

I was assuming the contract was essentially borrowed time! But I think I miss judged the reason of the contract. it is to make payments to the seller as though they are the lender of the property and I assume ownership as long as the contract is fulfilled  

I am am taking all advice from anyone who has been in my shoes! I really appreciate this community!

So I have a deal I am working on more then likely I will be told no thank you. However if this seller agrees to a price of 40k I then reach out to an agent to write up a contract. 

Now in this contract I will state the agreed upon selling price 40k as well as Estimated amount, [lets say 10K] in repairs ( which I will be able to begin before the actual closing) ? is this similar to what the wholesale market does but instead of selling this gives me a chance to begin working on the property as long as the agreed amount is put down?  

Am I able to RESELL the property before the contract ends? in other words use profit margins to pay my share of closing and all other fees

If these are stupid questions I apologize. Truth is I will not be able to save much money to invest so I am trying to start this all off playing the right card at the right time!

Matt, thanks for the inspiration. It feels good knowing it can be done because others have already done it. I have a question if you don't mind. In all the books I have been reading they speak about ( putting a property under contract)! in the book BRRRR, he talks about how he lost a deposit because he forgot to schedule a roof to be fixed and result caused tons of water damage! My question is what exactly is the contract process and how does it work? Where do I get contracts and how do I go about getting a homeowner under one? we are in different states but I'm sure its 90% the same!

Hello All, I am looking to kick start the rest of my life in Real estate Investing! I am a 30 year old father of 4 with two added step children from my wife! I Am a local truck driver and most of my money is tied into our house and family!

All my life I wanted to rent out homes and even have drams of owning and building new homes on a scale with DR Horton! My father gave me the idea as I watched him do some what well in the business, but eventually sold all properties and gave up his drive for real estate. 

For now I am looking to start out as a rookie! I have been reading multiple books from the bigger pockets community (How to invest in real estate By Josh& Brandon as well as BRRRR By: David) and today I opened my LLC to get the ball rolling! I am looking for advice on how to get my hands in the bucket right away!

I have little savings for now good credit and a home with little equity. More hustle then can be measured and driven by dreams of long term wealth to pass down to all of my children