All Forum Posts by: Kurt Michaelson

Welcome @Codie Fisher! You'll find BP to be a great community of people and the site to be a great resource as well.

What type of investing are you planning to get involved with here in the OKC market?

Congratulations on closing another wholesale deal for yourself.

I guess the question I have is what size/type of rental property are you looking to invest your capital? Is it <5 units, or >5 units? What location too? Locally in Atlanta, or elsewhere?

$10K might be enough earnest money for something < 5 units, but you could also consider becoming a passive investor with someone who is syndicating a multifamily deal.

On one of the podcasts I listened to recently the guest described how they were a passive investor in a syndication deal so that they could understand more about the whole syndication process, so they could syndicate a deal for others. That may not be the route you're looking to go, but it's worth considering.

Whitney Sewell, Life Bridge Capital, The Real Estate Syndication Show, episode 327.

• https://lifebridgecapital.com/2019/09/ws327-from-passive-investing-to-becoming-a-deal-sponsor-with-darin-batchelder/

I hope this may be helpful.

To answer your question - No. I wouldn't buy a wholesaling kit. I would consider enrolling in a mentoring program like TTP from Wholesaling Inc.

Before you consider enrolling in a program, or buying a kit like this one, what have you done so far, to begin your education about wholesaling real estate?

Have you read either of these books yet?

• If You Can't Wholesale After This: I've Got Nothing For You...by Todd Fleming
• Wholesaling Bank Owned Properties: Learn How to Wholesale and Flip Houses by Lex Levinrad
• The Book on Investing In Real Estate with No (and Low) Money Down: Real Life Strategies for Investing in Real Estate Using Other People's Money by Brandon Turner

A few questions:

• How do you plan to market yourself to sellers?
• How will you find properties that would be a wholesale opportunity for you and your buyers?
• What have you done to obtain a sufficient list of cash buyers for any property that you get under contract?

You may have answered these questions already to yourself, as part of your strategy to start wholesaling. I would try to connect with some of the other members of the REIA group that you just attended too. Ask them some questions and gain some insight from them, to help yourself out a bit.

Rob, what are you looking for specifically?

Here are a few books I'd recommend:

• If You Can't Wholesale After This: I've Got Nothing For You...by Todd Fleming
• Wholesaling Bank Owned Properties: Learn How to Wholesale and Flip Houses by Lex Levinrad
• The Book on Investing In Real Estate with No (and Low) Money Down: Real Life Strategies for Investing in Real Estate Using Other People's Money by Brandon Turner

For anyone who doesn't know, OSCN stands for Oklahoma State Courts Network (oscn.net)

The links are not working properly in this post.

@Alex Harshman & @Cody Clinton

Here are a few people who can give you some more insight into investing in the OKC area:

• @Scott England
• @Cassi Justiz
• @Dylan B.
• @JJ Gritts
• @Jimmy Ogle
• @Ron Harris

@Amil D. Indiana should have a specific P&SA that is used for residential real estate. I concur with the suggestions made by others too. Have the document reviewed by a legal professional. If you're unsure about signing an assignment contract with the wholesaler because of the P&SA and you're unsure of its legitimacy for you, I wouldn't move forward.

As @Charlie MacPherson said, unless it's in writing whatever the wholesaler says is meaningless.

@Megan Israelsen Welcome to the area!