All Forum Posts by: Kurt Michaelson

Welcome Shannon! I'm fairly new as well and also live in Murrieta. I've been actively looking for properties in the area and would be happy to meet up with you at some point to help you, as best as I can. 

 No, I haven't experienced that, but if they do ask, I just try to explain to them that I'm an investor and that if someone else is better suited to purchase this property, they will step in my place to close on the property, but they will still get their full agreed upon selling price.

Some people probably just aren't informed enough about what wholesalers do and how they work.

I mention to people that as an investor, either I will purchase the property, or another investor may do so, which fits better for them and their portfolio of investments. I don't always state that I am a wholesale investor, but I will if asked. However, I do let the seller know that no matter what who ends up buying the property, the seller will get the full amount of the agreed selling price, even if someone else steps in my place to fulfill the purchase, which, as a wholesaler is exactly what happens.

@Brian Orr I have to concur with what others have said. I attended first a 2 hour introduction to Than Merrill's real estate training, then it was the up-sell to attend a 3-day workshop event where you would learn more. I was suspecting that there would be a push for signing up for something because events like this there's always something they want you to buy.

Now I totally understand the need for having a system in place to efficiently run a business. All businesses need them and they do come at a price. However, of the 350 people that were in attendance at the event I attended, there were maybe 10 people (maybe) who bought into Than's system. Were they experienced in their real estate businesses where they needed that for their business to grow even more? Maybe. I don't know.

Since then, I have found myself listening to more BiggerPockets podcasts and reading more books related to real estate investing too. I've learned more particularly through listening to the podcasts than what an operational system could do for me.

I also joined a local real estate investment club (Inland Empire Real Estate Investment Club - Riverside, CA) and they just want to help other to success in their real estate investing endeavors, by asking for advice on whatever deal someone is working on.

Your best source of help is going to be through joining a local REIA, listening to podcasts and reading books.

Have you read @Brandon Turner's book The Book on Investing in Real Estate with No (and Low) Money Down?

All the best to your success in achieving your real estate goals.

Thanks for the response Jon! I would be happy to also share this with you if the circumstances change. Let's see if we can meet up sometime for coffee.

Welcome Kris! Like you, I heard of Wholesaling 11 years ago, but back then there wasn't much information to really obtain, i.e., the internet, to really learn. It was also at the beginning of the housing crash too.

Read all you can to educate yourself - the books are invaluable. Listen to podcasts - these will help educate you as well and encourage you in realizing that you can do it too. Ask questions and don't be afraid to make mistakes as you get started. I've made some over the course of the last 7 weeks.

While you're out looking for opportunities to get a property under contract - find the deal, don't try to create one and what I mean by that is don't try to create a deal when it's not one that has a motivating circumstance for the seller to urgently have to sell.

I have a short buyers list and need to grow that even more, so I would encourage you to steadily grow your buyers list, while you're out looking for properties.

All the best to you and your journey in real estate investing.

Welcome!

Jason, I would have wholesaled this one, but the owner decided to not sell and do the fix and flip herself. I'm hoping she'll change her mind about this since she doesn't live so close to the house and won't be able to oversee the rehab as closely as someone probably should. Plus, the emotional attachment too because her mother died in the fire.

It's good to know that fire restoration is your area of expertise. I can share this with her if she doesn't have anyone to work with yet. Plus, it will help me add some value too.