All Forum Posts by: Mark Hooks

Will do.. Thanks Larry.

Hello all. My name is Mark, I’m 22 years old, single, no kids. I’m born and raised in Rochester ny.. I’m fairly new to the real estate world. Seeing that I’m just getting started, I would like to start off by wholesaling, so that I can earn and save for a down payment of my first property. I first started learning about wholesaling 3 years ago but seeing that I was only 19, I wasn’t really sure which career path I wanted for my life. Fast forward to now, I figured out that I’m ready to focus on and take investing in real estate serious. Working in the construction field, I get to see a lot of renovations and remodeling - I’ve also had hands on experience with carpentry myself. Fixing on houses is something I’ve always been interested in since a kid. In addition to that, having passive income is important to me. I love to have fun and travel when I can. I also have 3 younger siblings that look up to me, so I want to be proof that we can do anything we put your minds to. 

Lately I’ve been on biggerpockets reading a ton and listening to numerous podcasts.. my quest for knowledge never ends. I’m currently looking for mentors/investors in the Rochester ny area to work with, possibly partner up with. I understand that the job for a wholesaler is to make sure numbers make sense. I have taken the next step -sending out direct mail. Now I’m at a place where I know I need to start networking, so that there’s someone I can call when I have questions or when deals start rolling in. If someone can point me in the right direction, it will be greatly appreciated. Thanks a lot 

Thanks for sharing this.

Hello everyone. I’m new to the RE world and have a few questions. When I’m ready to use my own money to purchase a property from a motivated seller, will the bank allow me to take out loans if they see that the funds that I have saved up came from RE investing? Is it best that I wait until I have enough money saved up so that I don’t have to take out a loan for my first deal? Or is this something I have to talk to the bank about? I know that banks want to see reported taxable income and I don’t want to cause any red flags or have IRS get involved.

Hello everyone. I’m new to the RE world and have a few questions. When I’m ready to use my own money to purchase a property from a motivated seller, will the bank allow me to take out loans if they see that the funds that I have saved up came from RE investing? Is it best that I wait until I have enough money saved up so that I don’t even have to take out a loan for my first deal? Or is this something I have to talk to the bank about? I know banks want to see reported taxable income and I don’t want to cause any red flags or have IRS get involved.

Hello, I'm just getting started and I have received my first 2 phone calls back in regards to people willing to sell their house. When looking for a buyer, what are some questions to ask? For example, I have received some calls back from potential seller's. I understand that now what I have to do is create a buyer's list. So, in order to create a buyer's list, I would like to know or get some advice on things to say once I call someone that owns a house in the area that the potential seller house is in. How do I go about introducing myself as a newbie? Can anyone help? Thanks

So i've done my research about motivated sellers. now my question is, what exactly is wholesale? is it typically finding a home owner thats willing to sell their property at discounted price that's affordable for my end buyer? 

Originally posted by @Steve B.:

You need to start networking with other real estate investors in your area. Find a local REI club and introduce yourself to people and state your goals. I highly recommend doing a flip first with an experienced person, maybe you have some skills that the other person doesn't have. Start reading everything you can about flipping homes so you know what you are talking about with other investors. Believe it or not there are ways to flip a home with little cash, but usually not entirely by yourself. good luck!

 thanks. I appreciate it!

hello, my name is mark. im 19 and im from upstate, NY. im really looking forward to getting into real estate. ive read a few articles on bigger pockets. i would like to get into real estate by flipping houses so that i can earn and save that money to invest with. can someone please give me ideas or let me know the best way to go about this?  i'd really appreciate it. thanks