All Forum Posts by: Matthew Sutton

What are the top questions you ask a motivated seller? Both about their situation and their property?

How does the deposit work in wholesaling? Do you have to give one to the seller when you sign the agreement? I figure you definitely get one from the end buyer. How does that play into your profits? Where does that sit in the agreement?

Any solid recommendations for a title company in north Houston? Getting all my ducks in a row for that first deal. Thanks

So what was your strategy to build a 15 person buyers list at such a young age?

What are the key relationships you need to have as a wholesaler?  What are the specific relationships, and what value do they bring to the process?  Marketing lists, buyers, mortgage, insurance, real estate agents, and so on.

Houston can be tough.  If I wanted to invest somewhere else, how do you suggest getting a buyers list lined up without actually being there?  

Okay, this site has been very helpful as I learn the basics.  I have picked up a lot of tools and ideas that are starting to put the pieces together.  One of the things that I still would like more information on is exactly how to best position a deal with a seller and buyer.  I know that is kind of vague, so I'll expand.

Let's us say I find a property on MLS or wherever for 70K, but Zillow has it valued at 160K. Obviously, there is a reason it's been on the market for 6 months. There is a lot wrong with it. The investor/buyer would need to sink some significant money in the renovation. If I can get the house for 60K, what should I be looking at selling it to the buyer for? How do I evaluate how much profit I can make as a wholesaler? What if I can only get it at 70K? What would I sell it for? I know there is the worksheet, but before I get that in depth, I just want the basics on how to see the profit in a house.

Also, do I put any money down while I tie up the loose ends with the potential investor?

Finally, what does my contract look like with the seller since I am only holding the property for 30 days?  What "outs" and "contingencies" do you typically put in yours?  What other relationships do I have to have as a wholesaler?  Title, insurance and so on....

Thanks.  I unfortunately am a brainstormer personality, so the evaluation process it torture ;-)

Are you able to share what you're doing now that you weren't doing after the class? About to start looking for my first property.

I keep going back and forth with this. What's your advice on getting some rental properties for retirement income needed 30 years from now? 1. Buy the first $100K cash with no payments and start collecting $1,200 in rent a month until I get another $100K? 2. Use the $100K on 4 down payments, but have 4 $75K mortgages that earn a small profit?

Okay, this is only my second post.  I'm sure I'll take a few months before I figure out exactly which strategy I want to go with.  It'll be completely passive over the next few years since I have a career that I enjoy at the moment that is allowing me to put away enough savings to invest in real estate.  I've had a rental house that I sold a few years ago.  I've been the landlord before, and it didn't bother me at all.  So as I figure out how to invest $100,000 liquid cash from Houston Texas, I'd love to hear what has worked best for you.

1. LLC or no? Are there limits to the number of properties you can own under a corporation?

2.  Rent or Flip?

3.  With some folks on here saying Houston can be tough to find properties at a good deal, do you suggest in state or out of state?

4.  Texas has huge property taxes from what I've seen other places.  Any tips on that in the rental world and flipping world in regards to this?

5.  Should I go with cash for first property?  Or should I get loans and go for 4 properties with down payments?

6.  Profits.  How much can I expect to pay towards income taxes?