All Forum Posts by: Michael J.

Why don't you go to local meetups and network with other investors?  Also look at joining your local CREIA group.  There are plenty of people in these groups that would be willing to be private money lenders or partner with you.  You could also find good mentors in these groups as well.

why not create a partnership LLC?

I will analyze deals and make offers on MLS listed properties. Sometimes they get accepted, sometimes they don't. Just really depends on the sellers motivation. If you are the end buyer this is entirely possible.

When just starting out as a new real estate agent, the biggest things to focus on are what brokerage will provide you with training and mentorship.  You need to focus on building your foundation without a strong foundation and ongoing training and access to trainers and coaches then you will struggle in your career.

If Maine is a non-disclosure state then you won't see sold prices on zillow or redfin, etc. You would need to network with a realtor who could look on the MLS and help you out.

As an agent and also an investor, your expectations are laughable.  You aren't actually an investor.  You have dreams of being an investor.  It would cost you $250 minimum per property that you would want this type of analysis done on.  Most of this stuff you could look up yourself using free resources on the web.  I would spend sometime getting educated a little bit better on how to analyze properties and make offers.

There are programs out there like Ribbon or Knock that offer some options to help out people who need to be able to compete on their offer but also have a home to sell.  I haven't personally used either of them with any of my clients so I can't speak to how they work exactly.  

40% down on a private money loan seems a bit steep.  Does that include your rehab budget?  I would try to network with your local investors group.  The more you network and meet people, the more opportunities will present themselves for people to loan money.  Look for a local CREIA group in your area and join it.  They typically have a "Haves, Wants, Needs" call where people get on and say what they have, want or need.  You will get connected to people who have money to loan.

Quote from @Myles Kamara:

I'm currently working with a realtor on a property that I'm planing on wholesaling and wanted to get opinions and advice on how I should proceed. I've done my research on how one can work with a realtor but since this is my first time and potentially first deal I wanted to reach out to hear the opinions and advice form other who either have done it before or are realtors themselves. My biggest concern is honestly finding cash buyers who would be interested in buying a property that's on market since I know most buyers target off-market properties. Thanks for the feed back!

You are submitting an offer on a house through a realtor and then wanting to assign your contract to an end buyer?  This can be tricky to do, especially if the realtor doesn't have a clear understanding of what wholesaling is.  Also, you are going to need to get the property at an extremely lower price than what its listed at on the MLS as all the investors have already seen this property.  Some other issues, you will need to make sure the contract the realtor is using is assignable, gives you plenty of time to do your inspections and allows you to put your EMD down after your inspection period.

@Jeremy Cearbaugh in that case I'd either try to hit the streets and talk to some neighbors or call the PM companies and see if they can give you an idea of rent for that area.