All Forum Posts by: Marcel Pean

@Ayodeji Kuponiyi Thanks for the tip. I have definitely been more proactive about educating myself. When I get discouraged about not finding a deal yet, I look back at how far my education about wholesaling and real estate investing has gone. I literally started in Jan. 2016 and have been reading nonstop. However, most of those books are more "mindset" (i.e. 4 hr work week, think and grow rich, mastery, etc.) I know @Brandon Turner has a great book list to read for real estate investors. I plan to read through those as well.

Best of luck with your investing! I wish you massive success!

@Brett Snodgrass Hi Brett,

Thanks for the welcome on BP. My mom actually lives in Indy and I've considered it as a place to wholesale real estate because the market there isn't as pricey as where I live in DC. I've been hesitant about it because I am not familiar with the area.

Anyway, as far as marketing goes, how many mailings (i.e. postcards, yellow letters, bandit signs, etc.) did you put out before you got your very first deal? How many times did you send it out before you got a deal ratified?

I am new to wholesaling and real estate investing in general and have begun my marketing campaign but have yet to receive any serious leads.

Thanks @Pratik P. , @Mindy Jensen , and @James Danchus for the great feedback. I don't want to spend too much time looking for deals on the MLS, however, in between mailings to owner occupied and absentee owners how do you spend your time looking for deals? Or working on your wholesaling business in general?

Many thanks in advance! 

@Account Closed Thanks for the feedback. I will talk with a tax accountant who is familiar with the law in DC.

What if my business has no income yet and I've only had expenses come from the personal account? This is my reason for putting off opening a business account. 

@Matt D. Thanks for the feedback. I will talk with a tax accountant who is familiar with the law in DC. 

What if my business has no income yet and I've only had expenses come from the personal account? This is my reason for putting off opening a business account. 

I was in touch with a real estate agent who put me on the MLS "tickler" system that alerts me to the type of properties I am looking for (i.e. distressed properties). Since these homes are already listed, would the seller still want to do a wholesale deal? Should I contact the seller directly? If most properties on the MLS are going for market value, why would a seller want to sell at a discount if only to have the process go by more quickly. Does anyone have much luck finding deals on MLS?

Sorry for all the questions but I want to be sure I am using my time effectively. 

Many thanks in advance!

I recently created an LLC back in February and have questions about taxes and bookkeeping, such as do I absolutely need to have a business account or is it ok to spend from a personal account so long as you're keeping track of expenses? Is someone able to offer free advice? Or if in the DC area, I can treat you to a drink or two :)

Much appreciated in advance!

I recently created an LLC back in February and have questions about taxes and bookkeeping, such as do I absolutely need to have a business account or is it ok to spend from a personal account so long as you're keeping track of expenses? Is someone able to offer free advice? Or if in the DC area, I can treat you to a drink or two :)

Much appreciated in advance!

Thanks for the welcome everyone!

I am new to real estate investing but figured I would get started with wholesaling. I am still hunting down that elusive first deal and am very appreciate of any feedback and potential leads I get. I hope to create mutual relationships within this group.

Thanks and happy investing!