All Forum Posts by: Brock Laramee

Hey @Ian Walsh ,

Thanks for your input! I have not heard of this approach with the 50 house rule. I will look further into it later today when I finish some errands. Once I do so, I'll ask any questions I may have to you.

Best,

Brock Laramee

Hey @John Thedford ,

Thanks for your input!

1) If I am only assigning the contract over to another investor, that is OK, correct?

2) I do not wish to operate dishonestly. There will be no deception in my business. However, I agree with you when you say that some people will not appreciate that I am looking to wholesale this deal to another investor. On the flip side, disclosing that I am merely wholesaling the property to another investor may also be appreciated by a seller. I'm sure I'll have to experiment with this and see what works best for my business.

3) I agree with you on getting my Real Estate License. It will be another way to generate income into my business. 

Thanks,

Brock Laramee

Hey @Paul Amegatcher ,

Thanks for your input. Now when you find these abandon places, how to you reach out to the owner? Do you do yellow letters? What would you consider great success for a guy starting out?

Thanks,

Brock Laramee

Breon,

1)Are you handwriting the yellow letters? 

2)What are you writing in the letters?

3)How are you creating your lists?

Thanks,

Brock Laramee

Hey Courtney,

Thanks for the reply :) Goodluck to you as well!

Best,

Brock Laramee

Hey Breon,

Thanks Breon. It's nice to hear from someone who is going through the exact process in which I will be going soon. 

1. OK that makes sense. I will listen to you and not get carried away. The LLC is a lot of money anyway.

2. How/where do you do your direct mail? Is it costly?

Thanks, 

Brock Laramee

Hey Chris,

Wow, thanks for the opportunity for the purchase contract. That would be awesome, where can I email you? 

Also, what exactly do you mean by EMD? Does that mean as long as I tell them I am looking to assign their property to another investor (being transparent) that I am legally OK?

Thanks,

Brock Laramee

Hey BP,

I am turning to Wholesaling because of a temporary defeat I faced with buying a property this summer. I have realized that It is important for me to get a bit more knowledge and capital through real estate before buying my first property. I will be starting my wholesaling business in Tallahassee Florida where I attend Florida State University. If there is anyone in the area send me a message and we should connect. Otherwise, I have questions for you BP Fam.

1) I know I do not need an LLC so I haven't gotten one. Although I want one. I want one because I want to create my brand. But, It is a big expense for me right now. Is waiting till I get my first deal sold (money to pay for the LLC) a better time to get the LLC?

2) Before I even have my first deal should I be sending out direct mail etc? Because I am not made of cash right now.

3) How should I begin my marketing campaign?

4)  Where do I find the contracts for the FL laws for wholesaling?

5) Is it legal for me to get a house under contract without actually having the funds to buy it?

Thanks,

Brock Laramee

hahah good stuff

Thank you for your thoughts and info. High content stuff that has got me thinking in the right direction. I have created a list of things to consider before proceeding with this deal and/or any deal in Lake Worth. Based on the info from @Justin Jocewicz @Jon Huber @Mike Waltman @Charlie DiLisio  

I was hoping yall could comment/ add to this list. 

As far as this property goes, I'm putting it on the back burner for now until I check-up on the areas of concern that you have noted.

1) Checking how rough the area is.

2) Checking if and what the violations on the property are + how much they will cost to be dealt with.

3) Checking if it is in the Historical District. If so, considering how much rehab will cost in order to be satisfactory with the City of Lake Worth's Historical Code Guidelines. 

4) Get it under Contract with contingencies. 

5) Check if this is a hit or miss property because this zip code is not the best/ most consistent. 

6) Check Turnover rates with comparables.

7) Check for the Costs of Utilities (sewer, garbage, electric, water) from comparable properties. 

8) Research if this Lake Worth property would run into issues/situations with business permit          requirements. 

* Get into Local REIA meeting in Delray to talk about this property/or others.

Thank you guys.

P.S. To anyone interested in JV this summer I will be in the area starting May 1st-August 1st and I will be buying my first property with my dad this summer in the Lake Worth FL 33460 area. Any questions or comments you can PM me.

Cheers, 

Brock Laramee