All Forum Posts by: Maurice Brantley

Yea I've inquired and talked to many other similar companies within the past week offering "Business Lines of Credit" based strickly on your personal credit score. I'm glad I decided not to pull the trigger on one of them when I found out they were just business credit cards and not a true line of credit. The 8% fee is more or less just a commission that they'll make for applying for cards for you. I went out and applied for a few business cards on my own (Home Depot commercial, Chase Ink) to use for rehabs, business expenses ect. It'll be best to talk to a smaller local bank for a true line of credit which I'm currently doing research on in the Houston area.

We all make mistakes on our way to success. There's not one successful person on this planet that didn't make countless mistakes or didn't have to overcome hardships and failure. Keep chugging along!

Interesting thread. I started off by wholesaling earlier in the year and really had no idea what I was doing or the process of buying and selling real estate. I learned a TON, but afterwards decided I wanted to get my license. I feel having my license opens up way more opportunities for me and also makes me more professional. Also, 85-90% of people use an agent when buying or selling a home, so it made sense to not ignore the vast majority of the real estate market. Looking back on my first wholesale deal earlier in the year, I could have easily listed that house for about $20K more than what I got in under contract for, sold it quickly, and the seller would have made more money on the deal even with paying a commission. Also, during the transaction he mentioned family members looking to sell their house and buy a new one, while it would not have been ideal for wholesaling, that was an opportunity I missed out on if I would have had my license at the time. Referral business is the best business!

Just my .02...carry on..

I used Kaplan and did the online/home course. 

Awesome thread. I recently acquired my Texas RE license here in Houston a couple of months ago and Joined Keller Williams Metropolitan in the Galleria Area. I absolutely love the broker and the people there. The training is great and there's always people I can go to for any help. Now the real work starts with lead generation and churning the wheels to get deals done and building a client base.

Most hard money lenders here in Houston will finance 100% of the deal as long as it meets the 70% ARV rule. For example (ignoring closing costs ect) a house is worth $100K ARV, you buy it for $55K and it needs $15K in rehab. You will be all in at $70K so they would finance 100% of the deal. Now if that same deal required $20K in rehab, you will be all in at $75K and so you would have to come out of your own pocket $5K to complete the rehab. I hope my over simplified example makes sense.

I third Patten Law Firm - Texas American Title. Closing on a wholesale deal with them now.

31 is way too little. You have to send out hundreds of letters/postcards on a consistent basis to get your phones ringing. I started off by mailing out 250 postcards a week and started getting calls and finally closing on my first wholesale deal tomorrow (or Monday at the latest). Once I close on that deal I plan on increasing my marketing to 300-400/week and drive for dollars a few times a week.

Congrats on a good response rate and taking action! I'm meeting with a seller on Sunday from my mail campaign. Keep us posted.

Thanks for sharing. Loved the last call with the lady saying "Good luck harrassing other people" lol I've gotten a few of those since I've gotten started. At first those calls were a little discouraging but now they don't bother me at all and I'm used to them.