All Forum Posts by: Juan Rajo

Hello I have some questions about whole-selling. I’m looking to own rental properties but I wanted to gain my cash. So I wanted to do a few wholesale deals but I’m a little lost on some aspects of it. Again I’m new to it all so I just need some help. Question 1 when I find a deal how do I write the contract with the seller? Questions 2 when I’m selling it to an investor so I they’ll them it’s my property or tell them I’m in wholesale deal?

Last question also when I have a deal under contract, how does it work when I’m selling it to the investor, meaning do I make another contract with them and they pay me first then I pay the seller or do I just sell investor the contract I have and they give me money on the side for finders fees ? Kinda lost please help

@Austen Mueller thank you I’m from NEPA. I was thinking about saving more what amount would you think would be a sweet spot to have saved ?

@Nathan G. Thank you for your response. I spoke to one so far and they kinda gave me the cold shoulder. Maybe the lady was busy or whatever. But at the end of the day I was looking for answers on where I stood and what direction I needed to go but they didn’t help so I’m currently looking for a second local lender to meet with.

Hello everyone I'm new to the page but have been listening to BiggerPockets for a while. I'm 26 years old looking to get my first deal. I researched a lot and figured it's finally time to get my feet wet. I just want some advice, I've been planning to buy a multi family this year. I have been working on my credentials. I want advice on my game plan to see if I'm in the right direction and to get some insight. I have been working on my credit score it was a 420 now it's a 600. I have about $8000 in cash and a six year job record with the same company that provides steady income. I was going to look into house hacking to get my first property and use my FHA loan I'm working on getting preapproved first. With that credit score of 600 & $8000 as a down payment and steady income as my credentials does it seem like I'm ready? Or is there something I'm missing? Also willing to use at 8k with a partner if someone already has a deal as well. New to the field. by the way my goal is to have at least 15 properties by the age of 40.