All Forum Posts by: Michael Carbonare

Call a local title company and tell them you are buying from a FSBO. They want your business. They'll walk you through the process.

I've been investing in real estate for about 27 years.  Like most new investors my desire was fueled by my need to be in a better financial position.  20% down was a dream; hell, a bank approving me for a mortgage wasn't realistic, either.  Had to get creative.  Seller financing, when I could find a willing seller, still required 10% or more down, (I don't blame 'em).  Hard money?  They were charging exorbitant interest rates, plus points.  No, thank you.  Heh, I just had a flash back to my Uncle Tony. . .but I digress.  What clicked for me was lease options.  Specifically, a strategy called Cooperative Assignments.  Done correctly they are risk free and cash out of pocket free.  Started with that, earned some cash, and grew from there.

College is a scam, and the associated costs are a burden of debt that will take twenty years to get off your back.  There are many options at your disposal besides the traditional college path.  DiscoverPraxis is but one example.  www.DiscoverPraxis.com 

Don't do it!  Hold onto your wallet and run away.  We've reached the point where there are now more gurus selling their get-rich-quick crap than there are properties for sale in America.  Also, the myth of wholesaling does not often equal the reality of the strategy.  Sounds enticing:  buy property after property for .35 on the dollar, quickly flip it to someone else for a fast, fat profit.  Rinse and repeat. Oh, the joy!  Reality check:  how many homeowners are going to sell you their house at such a substantial discount?  What about the competition?  I have an investor friend who is a successful wholesaler and has been for many years.  We had lunch a while back, where he told me he drops 10,000 direct mail pieces each and every month.  Can you compete with that?  There are easier strategies for a n00b to start with. I'm not trying to discourage you, Jack.  I'm trying to save you $15K.

Sounds like you've got it covered, Ryan.  Good luck!

It's always a bad idea to borrow money from family or friends.

How squatters are handled is dependent on the state's landlord/tenant laws.

If he is all over YouTube and social media with hundreds of videos, that should be all you need to know that he isn't actually investing in real estate but is instead investing in the sales of get-rich-quick schemes.

10K plus half a mil?!  "A bit over priced" aren't the words I would use.  !@#$%^&*

VA loan?