All Forum Posts by: Judah Alexander

@Rick Mapes

It's nice that you want to partner up and do flips. I seems to me that you have all you need...financing. This is the biggest thing why investors fail and you have already overcome this obstacle for your next deal. I would not be willing to split my profits with anyone unless they are bringing something to the table that makes me a better investor and/or with more money. 

The way I see it is if I have to use another contractor to do the work on one of my distressed properties, would I give him an equity position in the deal or would I pay him for his services(usually 20% overhead). I WOULD PAY FOR HIS SERVICES.

Now, if a potential partner shows me I can do more deals simultaneously, and/or save money on projects by doing them at cost(no overhead), as well as mentor me in aspects of construction/rehabbing, then it might be worth partnering.

Please think long and hard before you partner with anyone....just like marriage :)

@Terry Hall

It depends on your investing strategy. What exactly is your next step?? This will then make the decision for you. 

If you are BRRR'ing defer the whole 61k into your next investment property. You have 6 months to do this from the act of sale. Any funds you don't use from the sale will then be taxed(boot).

I hope this helps you somewhat. 

@Thomas Horner

wholesaling, wholesaling, wholesaling....minimizes risk while you are able to make money and learn the business at the same time. 

Just my 2 cents, good luck.

@Nicholas Wootten

houseflippingspreadsheet.com

MS Project

projectmanager.com

3 that are on the top of my head right now.

@Dalton LaFrance Welcome to BP and welcome to real estate investing! I started our wholesaling for quick cash 4 years ago and haven't looked back since. I'm glad you have started out on BP since it's a great resource, boy I wish that had been one of my first moves years ago. 

I recommend attending your local Real Estate Investors Association(REIA) as soon as possible. Easiest way to network and start building your cash buyers list immediately. Also, start your cheap marketing strategy(craigslist ads, bandit signs, cold calling FSBOs and For Rents). Find out what areas they are buying in and start hunting.

Best of luck to you my friend. Ask away anytime you need help.

@Mario Ta

http://www.alanbuyshouses.com/landlordsum/LEASE_OP...

http://leaseownhomes.com/wp-content/uploads/2013/03/3.1-leaseoptionagreement-2.pdf

Here's 2 I found. These are exactly what you need. If you are able to copy them into word you can change them if you need to(not usually necessary).

@Mark Aaron

Coldcalling(FSBOs & For Rents)

Craigslist Ads

Bandit Signs

@Brandon Clark right now I am flipping the ones I currently have under contract. Pm me if you can so we can connect I may have something for you.

They send a lease option memo agreement. This is a one page agreement with all the terms and parlance that you spoke with them on the phone about. Make sure you read it to them before you send it(it's part of the pitch). Joe Crump also utilizes an electronic copy....just send them the link and they can do it online.

Good Luck

In my experience with realeflow the seller leads works great! The reason why I finally cancelled my subscription is because the squeeze and core websites would not capture any of the information when a seller submitted it. Now, I will say I have never heard this to be a system wide problem with them but it was a huge problem for me nonetheless. The alerts I would get only contained the seller's name and a fragment of their email. Never their number. They are supposed to get a followup email with all of your business information(name, number, etc.) but that never happened for me either. After many tests and retests I conceded defeat.

I say give it a try with a month-to-month subscription.