All Forum Posts by: Neiman Lee

Hello everyone, my question is what would be some good starting points for wholesaling? I am currently reading, "The Book on Estimating Rehab Costs" to have a general idea for estimating rehab costs for putting deals together for flippers/rehabbers accurately. I commonly see on the forums where flippers/rehabbers discuss underestimating rehab costs by wholesalers that they work with in which I arrived at the current reading. Would it be a wise idea to seek out experienced general contractors and flippers to assist with rehab costs to learn to estimate these costs as well as a lawyer for putting contracts together? My goal is to wholesale my first property by the end of this month of January 2021

With everythng going on with COVID-19, would anyone have any advice for building a cash buyers list during this crisis?

Awesome, thank you so much for your input. Im 26, looking to get started 

Ok now I see, thank you all for clearing this up. Still in the learning/research stages of investing so its nice to have forums like this to ask questions and provide clarity on certain subjects. I was reading through the BP's "beginners guide to investing" and going through some of the financing methods. 

How would this situation work? 

Was wanting a little clarity for owner financing. I understand that the owner of a property that I want to buy can actually fund the purchase where I would make monthly payments to the seller rather than a bank if they own the home free and clear( no existing mortgage). Lets say the owner of the property still has an open mortgage on a property and I would like to buy and finance the deal through the seller. The seller has to pay the loan back to the lender to avoid foreclosure. How would the seller pay the loan back and avoid foreclosure? Lets say the seller has paid $50K of a $100K mortgage. Does the seller have to come up with another $50K?

Would anyone recommend getting a real estate license for beginner investors? I have heard that it is a wise investment to do so with having/getting more access to properties and the MLS, however, I have also heard of investors having a lot of success without having a real estate license. How should I go about deciding on this matter?

Thank you both so much! Those words definitely help. I will take those notes in to consideration when determining my statement. 

Hello everyone, just getting started as well. Read rich dad poor dad and cashflow quadrant and now reading the bigger pockets beginners guide to investing. currently working on a plan to get started. I was wondering would some of you suggest establishing an LLC or conversing with a real estate lawyer prior to getting started in topics such as wholesaling in order to protect you and your assets?

For a beginner investor(mainly wholesaling), when people ask you what you do, what do some of you typically tell them? I just recently began Bigger Pockets', "The Ultimate Beginners Guide to Real Estate Investing" , and was looking for a few examples to start/begin with.