All Forum Posts by: Lawrence Robinson

Hello Calvin Jones. Welcome to BP. The whole premise of wholesaling is to leverage other folks resources, so selling your vehicle although a grand and noble gesture means you've somewhat missed the mark. Review the podcasts and other tools here to re-familiarize yourself with wholesaling, then take action as you learn. It sounds like you were learning, but weren't taking action which is akin to pissing away knowledge; i.e. since most people only retain 10% of what they read within a 24 hour period. Then if you have doubts about a particular deal, raise questions here. Learn, grow and earn -- in syncopation. You'll do well.

Jacob Howell, its great that you had the forethought to seek counsel before jumping in first with both feet. If you find there is a free and clear mortgage on the property, let me know if you need financing and I will help point you in the right direction. It sounds like this could be a great deal; if so, don't let someone else steal your thunder. But first, do all the due diligence necessary to establish whether it's truly a deal or a bad apple. If it's a bad apple, it was never meant to be anyway; but then if it's a gift, why give it away?

James Popp, if you are willing to be the boots on the ground for other buyers and work as hard for them as you would yourself, and always work with integrity, you will make money. Otherwise, you are in the wrong business.

I work with investor friendly realtors who occasionally will bring me MLS deals that I am not prepared to purchase myself. Knowing exactly what other buyers are seeking allows me to negotiate terms with the seller and wholesale them to buyers I know and trust; the key word being "trust." But I certainly don't rely on the MLS for most of these kinds of deals. Hopefully, this post has educated both aspiring wholesalers and realtors who have had bad experiences working with this niche group.

Realtors with a bad taste for wholesalers generally don't know or understand this component of real estate investing. Seasoned investors actually seek out and depend on wholesalers who provide research and bring value added deals to the table. These wholesalers actually earn their fee and operate based on a solid business model. Inexperienced wholesalers, on the other hand, who chase realtors and provide proof of funds that aren't worth the paper upon which they are written and misrepresent their true intentions won't survive in this very competitive market. There is no room for dishonest, unethical wholesalers nor is there room for incompetent, lazy realtors.

Sorry, Ronnie. This one is off the table now, but I will add you to my buyer's list. Are buy and holds your niche and, if so, can you tell me generally what types of deals and margins fit your criteria? Also, do you buy outside of greater Columbia? Thanks, Ronnie.

Hi Sharee. If you haven't used much of your currently eligibility, I wouldn't refinance into a higher interest loan. Use the remaining eligibility on your SC purchase and you very possibly won't need to bring a renter into your home. I'm just saying...

Find a local REI club and get real knowledge from real people working in the industry. Get your footing before jumping in with both feet. Network with people who are already doing what you are trying to do. In other words, don't reinvent the wheel. Otherwise, you will become discouraged, waste your and other people's time, and throw in the towel before ever giving it a fair chance. A basic Google search will lead you to groups in your area.

On the Fort Jackson side of Columbia, SC; this deal is hot on the table and all the numbers will work for you. If you are seeking to close your last deal of the year, gift wrap this one to add positive cash flow to your portfolio. Only 9 years old, 2500 square feet with light rehab. Contact me directly if you're interested.

Natalia, either your realtor has no experience in working with investors or has been burned by working with new investors who can never close a deal. A realtor is only as good as the money they help you earn, so go find yourself a tried and trusted realtor who has experience working with investors. And, my all means don't give wholesalers a bad name by wasting your realtors time. Be prepared and ready to close deals. Best wishes!