All Forum Posts by: Matt Faller

I've become a bit overwhelmed lately.
With so many ways to do things, and so many different options, I'm trying to figure out,whats the best, and fastest way to immediate profits.
I'm not looking to hold onto properties for the moment, and I'm looking to make a quicker deal.
Ive heard the way to do this is from everything from wholesaling, to double closing, to foreclosures.
Any advice on how to do this?
oh, and I'd like to avoid risking my own capital.

I'm really glad to see another younger person involved in real estate and investing.
I pretty much have the same situation as you, my mother is supportive, and no one in my school of 2500 students has a clue what any of this is.
I'll tell you, from my personal experience, people (most the time) view you as a very driven individual and are impressed.
Ive yet to receive a negative experience due to my age.
unfortunately, I'm only 15, but my mom is willing to sign my contracts and basically be my business partner.
Starting out young is the best thing you can do, you can re-invest many of your profits since you don't have debt or a family to feed.
Congratulation's on your investments ($5,000 is pretty decent for 17)
and keep learning.
-Matt

Okay, I've heard that wholesaling can be done two ways,
1-
Get the property under contract, then charge the buyer an "assignment fee" for the property under a separate contract.

2-
Get the property under contract for (example $10,000), then, raise the price as you see fit with leaving profits for the buyer (i raise it to $15,000) and sell it to an investor and your price, leaving you the 5,000 difference at closing.

Which is more commonly used?
Ive heard it done both ways, personally, I'd prefer the second option, but is that something regularly done?
Thanks.

I was just about to post a thread about this, im also interested on this.
Can anyone tell me, is there any certain laws in california when it comes to wholesaling that could hold somone back?

What are the best websites out there for finding deals.
Right now i mainly use craigslist . . .
any other suggestions?
thanks.

I work with my mom, she does all the legal stuff i cant do.

Kansas city,Missouri.

Im 15 right now, and have yet to make a deal, although it has only been several months.
Im working with a man in the LA area that has a house being built, that he needs to sell, the house it self costs a million+, but the profit margin is $600,000!
Im looking for try and wholesale the contract.
Maybe itll work out, maybe it wont, if not, i can move on, and hopefully i'll have a deal done by the summer.

The market here in kansas city is terrible.
While that does help me find some good deals, finding buyers is impossible.

How would i go about investing across the nation? would i just fax contracts and such back and fourth, and use email and phone as communication?
What would you suggest?
thanks!

Ive been tyring to do wholesale, mainly because you dont need to spend much, or any, money.

Everytime i talk to somone about being interested in wholesaling, their ussually turned off by it due to signing the contract.
How can i talk to them, and explain everything, that would make them want to let me wholesale the property.

Thanks.