All Forum Posts by: Joseph Ziolkowski

Thank our both for your insight! I appreciate it.

Hi BP,

At the start of the new year I want to hit the ground running with my wholesaling business. I'm 20 years old and I am starting my business 50/50 with my private lender (my aunt). She is supplying the capital, while I do all the other work. Anyway, I have been interning for a local real estate investor for over a year now. The way he wholesales is by purchasing houses outright and then turns around and sells them usually a couple of weeks later. However he is a broker and is required to use the state legal residential offer to purchase contract when he buys houses. At first I was going to use this same form, but it's 9 pages long and I feel a little long and kind of confusing. I know I could sit down and really learn the contract, but does anyone else have a shorter, more simple purchase contract they use with verbiage that protects you as the buyer and allows you to back out of a deal if something comes up with the inspection, etc?

Thanks

I don't have much construction knowledge in place, so I think it's my best bet to get an inspection. I also feel that could be a leverage tool. And John, my plan now is to buy and flip, more or less like a wholesale because I really won't be putting much work into the property. The guy I have been interning for wholesales properties by buying them and then usually sells them in a month or so. He doesn't assign contracts or things like that. So I want to do what he's does because I understand his process which works in our area. For funding I can go two routes. One is a private lender (my aunt) or the other is where I would partner with me friend and together we would have enough capital and we would 50/50 split. He is also a realtor so he knows more about contracts than I do. I'm wondering which route do you think would be better to go? Thanks

I've been "interning" for a local real estate investor for the past 9 months. Now I'm looking to do my own deal. I know my market pretty well and am able to spot a deal when I see it. My question is once I locate a deal and talk to the owners, etc. Should I have an inspection on the property? Is it worth paying for one? Moreover how do I talk to potentials buyers of the property, I guess how do I screen the serious ones from the not serious ones. Thanks

Hi, my name is Joseph Ziolkowski and I'm from Wausua, WI. I'm currently a 19 year old college student. I want to get started on my first wholesale flip or a wrap loan.