All Forum Posts by: Account Closed

 I do not wholesale but have dealt with wholesalers, especially in Baltimore. Contracts should be written by a legal professional since you are just starting out. The transaction is in between the property owner, yourself and the buyer. If I were you, I would refer to the Baltimore forum since wholesaling is what many of them discuss there. They have a lot of information on the process and steps on this site. There are those who are not upfront about their intention when approaching property owners. That always gets messy. Be honest and upfront with the home owners and you will have less of a mess later on.  

 JJ what sort of property are you interested in? What is your price range? Do you wish to live in the property or are you looking to lease it out? Please message me with additional details and I will be able to better assist. 

 You will need to be more specific. The question is too generic and an answer will all depend on our goal, price range, property type etc. If you provide further details, I will be able to assist you. 

Hello BP friends,

Do you need help analyzing a deal or have any specific real estate/financing questions?

Reply back with your question and I will provide you with an answer.

I purchased my first rental property at 18. I have purchased over 80 properties in my career.

You can see my previous chain answering questions here:

https://www.biggerpockets.com/forums/223/topics/64...

Ask away!

@Mindy Jensen I have filled out the form. I have done over 100 deals and have no problem discussing my experiences. 

@Lynnette E. You should tell @Brandon Turner to get me on the show. I worked for JP Morgan Chase prior to becoming a full time real estate investor and property manager. These are questions I could answer in layman's terms.

@Daniel Brown The method of acquisition will depend upon the size and scope of the investment. Small properties (under $50,000) are generally purchased in cash. For larger dollar deals, a combination of cash and financing is used.

@Mike G. That is impressive. It sounds like it was THE portfolio of that market.

@Ron Fletcher I got a message from @Mike Bell with the same question. This is the response I sent him.

There are many landlords who collect rent weekly. I prefer to have tenants pay through payroll deduction with their employers. This way, I can track payments through each pay cycle and do not have to chase down tenants for payments at all. In addition, if a pay cycle is either short or skipped, I have notification immediately and can take whatever steps are necessary to ensure either payment or start the court process. The best part of payroll deduction is that you can collect rents up to a month in advance. Deductions in the current month go towards the next month’s rent. This gives even more lead time on the eviction process.

@Jason Snider I have the tenants fill out a standard form in their application. I then take that form and have their employer sign off on it.