All Forum Posts by: Mark Andrew Deidiker

Wow I am very grateful and impressed with all the advice I have gotten. I am definitely going to be taking a lot of time to rest my mind and educate myself so I make the best decisions that ultimately meet my goals. I am disgusted by how I am in this predicament and I should be becoming successful without his money and buying him a truck. I don't want a "small loan of a million dollars." No that's not my dream. It was always my dads dream to win the lottery. Not mine. So nasty this world we live in. He worked his *** off every day. SO hard every day just to suffer for 2 years, drop to 70lbs and die before he can retire or pay his house off that he worked so hard for us to keep. I really really really hope that there isn't some sort of dark money and the cancer association involved with any of this stuff... anyways getting way off topic. Thanks again guys. Really helped and I am sure it will help others. 

What do you need to know? I can't give out his SS. Tall, dark, handsome. 

I mean I really just wanted to know if what I was doing made sense to people who have been through the process a few times and how they might have split the money. Let me clarify: I don't think I am going to get outright robbed. 

Yeah I am definitely going to look at things carefully that's for sure. It is the same uncle. He has been putting a roof over my head for a the past few years while I drop in and out of college so I decided he deserves some rent money. 

Hello I am from Arizona so I would appreciate someone from Arizona reach out to me so we can talk on the phone ideally. However I will explain my situation here in some detail. Not that I am entitled to anyone's advice, but it will be appreciated and will help me through my journey. When I was 19 I loved learning about this stuff so I had an account here and now that I am faced with this situation this was the first place I could think of to reach out for help.

Unfortunately my father passed away in June. I'll spare you most of the details, but I guess we're passing this off as 'cancer.' A few days after his death my grandma and uncle sat down with me and informed me that my father wanted me to have everything. His savings, house, and cars. I was truly shocked he was willing to trust me with this responsibility. His savings had around 35k most of which I didn't really end up seeing because I gave some away to my uncle and other expenses that came up and of course I had to buy a (humble) car and start my FBA business. Now the house is sold and I have a little over 150k to work with. Of course I am going to make sure I am spreading my eggs as much as I can so naturally real estate is going to come up. My uncle came to me with a proposal to do wholesaling deals. I was a bit confused because from what I understand you don't need any money or any business partners to do a wholesale deal. You make the deal then give the paper work to the title agency and flip it to the investor or apparently Zelle now? They claim to have someone who will lend up to 1mil as long as we have a 20% down payment, with me being the down payment. My uncle is a certified realtor as is the other guy who has the 'connections.' I am okay with doing a business partnership because it seems they would take a lot of work off of my shoulders and they already seem to have a long list of houses and are pretty much ready to get the ground rolling. They want to do a 1/3 cut. Do you think this is a fair cut? Should I be asking for more since I am risking my money? As you can probably tell I am in no way an expert in this field and before I go putting a down payment on anything I want to at least try to reach out and find more information. 

Thanks,
Mark

Sue and Elizabeth, those are great ideas! My dad is doing the exact same thing with his house. So I don't know if that counts as landlord experience for me, but I have to put up the the rommies as well (which let me tell you can get pretty annoying). They are great people though. 

Sue, I wish my father would do that for me. I don't think he has the vision I do though sadly. Since you mentioned it I will talk to him about it.

Elizabeth, I am feeling like I am going to end up taking the same route as you. Just wait until college is finished. In the meantime wholesale and learn as much as I can.

Thank you guys so very much for the input. It is very helpful and opens my eyes up even more.

This is where that awesome hybrid theory comes in. You can sell as soon as you renovate it, on a budget, but yet still get the job done. Just an idea though. haha

@Bryan Williamson

hmm interesting. I had just assumed income would play a huge factor. I will definitely check out Brandon Turner. Thanks a ton. 

@Bryan Williamson

Thankfully I am using government grants to pay for my schooling and the college I am attending the credits are only $80. I feel like It would be very hard to invest in real estate at the income I am at now.