All Forum Posts by: Jill DeWit

Hi @Account Closed

To me this is similar to the lease v buy car dilemma. I am currently a fan of selling this one. 

Why tie up that $ unless you want to move back there someday and have the house available?

If it was 100% paid for then I would say keep it as it is a true asset. For now I would personally sell and work hard to get the next house paid off. I'm a fan of no mortgage and no car payments. (Love Dave Ramsey)

Food for thought...  Jill

@Karl Krentzel

Thanks for sharing and look forward to more results!

Jill

@Shawn Connors

Great job! Can you broaden your area and send 2k letters to get more of a response? I would stick with your letters since seems like a great result. Never found postcards to have same affect. (I don't even look at them in my mail anymore.)

And I also have found that sometimes sellers might save your letter and reach out to you after considerable time has passed.  

Sounds like you got this!

Jill

GREAT advice Brian! I sleep very well at night because all the property I own is paid for! I'm not worried about how long it might take for a certain property to sell.

I especially agree with Brian's joint venture & wholesaling tools. I know many successful individuals who started out slowly, but never borrowed money. 

(I'm also a Dave Ramsey fan and he does not believe in credit scores.)

Good stuff!

Jill

@DJ Cummins

Are you only interested in homes? I have done the SFR flip a few times, had a blast because I truly enjoyed the process, but found more profit in buying and selling land.

Maybe consider other types of properties to build up your capital while watching for your next great deal?

And to answer the "can you flip in any market" question - the answer is yes - as long as you do your homework AND buy it right. I sat with a very successful commercial developer from Minneapolis at a comedy club last night & we both agreed that You Win When You Buy It.

Just a thought....  Jill

Well said Ryan. It is that simple. No funny business. Buy good properties at a great price, pay cash, and roll them into your inventory and market until they sell.

Appreciate your "to the point" answer. Sometimes I think people get hung up because they can't believe the big picture concept is that simple. 

-Jill 

Thanks, Dev. Great post!

I have found that many RE agent/brokers don't want to deal with smaller transactions because the commission is so low that it is not a good use of their time. I would feel the same way!

There are many great, honest, wholesalers out there - for all types of properties and happy to be in that club!

Sometimes I want to shop for something on my own and save $. (buy wholesale) Other times I want to pay more for the extra service and guidance. (buy retail - pay a commission & higher cost)

There is definitely a great need for both brokers and wholesalers.

- Jill 

Thanks, Dev. Great post!

I have found that many RE agent/brokers don't want to deal with smaller transactions because the commission is so low that it is not a good use of their time. I would feel the same way!

There are many great, honest, wholesalers out there - for all types of properties and happy to be in that club!

Sometimes I want to shop for something on my own and save $. (buy wholesale) Other times I want to pay more for the extra service and guidance. (buy retail - pay a commission & higher cost)

There is definitely a great need for both brokers and wholesalers.

- Jill 

@Travis King

Hi guys! Great place for us to chat and share with all!

- Jill

Got this great question and want to share for all:

@John Becker

@Jack Butala

I was referring to those routine legal issues you come up against working in multiple states such as contract wording, foreclosure law, LLC registration and even taxation. For instance, I recently bought a property in Cochise county AZ with seller financing and the seller used a deed of trust and promissory note rather than a contract for deed which is what I would have used. Pioneer Title told me that in AZ it's more favorable that way for the seller in case you have to foreclose. Things like that. What do you do for legal, and maybe even tax advice in the various states you work in?