All Forum Posts by: Matthew Rembish

@Daniel Raposo 

That is amazing! I'm a very new investor but have been reading a lot lately, both on this site and various other texts. Where do you find these kinds of investors? I've found quite a few deals but have little funds to work with after buying my primary residence. Are these kinds of people typically found at REI clubs or do you use other sources. Any feedback is much appreciated!

Thanks!

Originally posted by @Terrence Smith:

@Matthew Rembish 

Start with education and networking. You will always get different answers on what a newbie should do because there are so many strategies and niches to try. Take the time to get your understanding of the basics down (land lording, flipping, wholesaling etc) then decide which path best fits you and your lifestyle. Once you can get past the noise in your head and are no longer distracted by every new shiny investing widget, you'll be able to focus on the in depth details of investing that will allow a person with limited funds to take action.

For instance if flips are what you want to do, that's great. Your question now becomes how does one with limited funds get into flips? Well, do you understand all that goes into a flip? Do you know how to find a good flip property? Do you know the numbers in the market you are targeting?  Do you know how to get that property under control once you find it? Do you know how to estimate rehab costs? Have you networked with REIA members who might be able to partner with you and make that deal work? Do you have names and numbers of equity based hard money lenders who don't care how much money you have, just care how much equity is in the deal? 

I'm not saying you have to be a master of these topics before you get started. But I am saying that the more time you spend researching and talking about them the more you will see that you have options and you can be successful - even with limited funds. 

By the way - sounds like you need to get Brandon Turner and J Scott's books. 

Terrence,

Thank you so much for the reply. I definitely understand and appreciate the input. I have attended one REIA meeting and it was great, looking forward to joining it soon. I'm in the process of rehabbing a homepath property of my own right now so I think I might actually stick to that for a while but I ultimately want to get into renting college off-campus housing (I'm really familiar with the New Brunswick Rutgers area because I went there for my degree). And on the topic of the books, it's funny that you mention that because I just bought all three earlier today. Your advice makes a lot of sense, I'll make sure to do my homework first.

Thanks!!!

Terrence,

Thank you so much for the reply. I definitely understand and appreciate the input. I have attended one REIA meeting and it was great, looking forward to joining it soon. I'm in the process of rehabbing a homepath property of my own right now so I think I might actually stick to that for a while but I ultimately want to get into renting college off-campus housing (I'm really familiar with the New Brunswick Rutgers area because I went there for my degree). And on the topic of the books, it's funny that you mention that because I just bought all three earlier today. Your advice makes a lot of sense, I'll make sure to do my homework first.

Thanks!!!

Originally posted by @Account Closed:

NO NO NO a complete waste,

I agree with @michaellemieus above.

I and many others on here will be glade to mentor you.

Sydney,

I was almost stuck in one of these guru classes myself. What kind of direction would you advise a new investor to head in? Especially with very limited funding.

I was thinking about starting to do small rehab and flip projects but everyone on here tells me something different. Just looking for some kind of realistic direction.

Thanks!

Originally posted by @Morry Eghbal:

@Matthew Rembish Friend you are saying the Realtors are giving you the deals, is it outside the MLS?

They're not giving me deals yet, I was just wondering if that could be a possible source for finding deals but it seems like it wouldn't be.

Originally posted by @Joseph Ball:

Read again what Richard C. said. I don't think you can find any MLS deals. If they are on MLS, why does Buyer need us?

Sure way to kill your reputation-take a poor deal to the market, and claim to be a wholesaler.

My recommendation? Buy a simple 3/2 and start by renting-then selling.

The reason I wanted to start wholesaling was to save enough money to buy and hold and flip. Is there a better way to go about doing this? Say, transactional funding or finding a hml?

I totally understand and appreciate your input. Above anything else, I consider myself a realist and I don't buy into any of those get-rich-quick schemes. You all can obviously tell that this is still new to me but real estate is something that has always fascinated me even more so than engineering, which is my current occupation. I'm working on rehabbing an REO property I purchased back in April as a primary residence but am looking to sell it soon. In conclusion, I'm just a guy looking to prepare and invest for his future and value any input the BP community can offer me. I've learned a lot just from this thread and want to thank everyone who has contributed

I guess I figured if I could jump on a deal, even posted on a site, quick enough, I might have a chance of wholesaling it but I can definitely see where you are coming from. I'll do some more research into this and listen to the BP podcasts. Thank you for all of the input, I really appreciate it!

@Jeremy Tillotson Ok, so that's how you bypass the realtor. You're talking about FSBO's and vacant houses then right?

@Morry

So when you get these homes from a realtor and wholesale them, what does your realtor get out of the deal?