All Forum Posts by: Nelson Fournier

Where can one find a lead list for subject-to opportunities? Like for example Expired listings, divorce/bankruptcy, foreclosure and pre-foreclosure, code violations, and low equity maybe thru VA and FHA loans? The cheaper the list the better. Thank you all in advance.

0 Votes

Quote from @Alfath Ahmed:

Quote from @Nelson Fournier:

Hello all on Bigger pockets. I'm a new investor looking to learn as much as possible so that I can become profitable and successful. I'm particularly interested in wholesaling houses and land, probably start off with houses though. I'm in NYC, it's a competitive market, so I'll probably do it virtually. Also, after completing several wholesale deals, I will start to buy and hold multifamily properties as rentals. But for now, I'm focused on wholesaling and before I make the jump I want to learn and absorb as much as I can. Any advice along the way would be much appreciated.

My goal is to uplift myself and my family financially and have more financial freedom. I will also like to add that I'm thankful that a forum like this exist, so that new investors like myself and others, can learn from and connect with more experienced investors. I wish you all success!

Regards

Nelson, there are markets which are better for wholesaling. There are many ways to find deals. I would master 1-2 methods first then try different methods. Persistence will be key.

Which markets have you had the most success in? And what methods do you think I should focus on?

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New York City, New York

Quote from @Shannel Tuitele:

Welcome Nelson! You got this

Thank you 💪🏼

2 Votes

New York City, New York

Quote from @Joshua Janus:

Quote from @Nelson Fournier:

Regards

Good luck with your journey, Nelson!

Thank you, likewise brother

1 Vote

New York City, New York

Quote from @Jimmy Lieu:

Quote from @Nelson Fournier:

Regards

Hey Nelson, I'm from Portland, Oregon but because my market was so high priced and had such a difficult barrier to entry because of the capital requirement, I decided to move to Columbus Ohio to become a full time real estate investor. Best decision I've ever made! I personally love Columbus as a real estate market because the rent to price ratio still looks awesome and you can find tons of 1% and positive cash flowing deals here. I just helped two clients closed on deals that should be netting them over $300+ per door in the last few weeks! As a local investor and agent here in Columbus Ohio, if you have any questions or want to connect, feel free to reach out!

Yes, I would imagine that certain coastal cities like NYC, LA, Boston, Miami, Portland, Seattle, SF, DC etc would be expensive and competitive, in comparison to other markets in the south and midwest. I haven't been to Ohio, but based off what I know I think I would like it and Columbus seems like it would be a great market for RE investing.

1 Vote

New York City, New York

Quote from @Lydia R.:

Quote from @Nelson Fournier:

Many of the wholesale content creators on youtube or their own websites, give ALOT of valuable information, but one of the things they all leave out is 'where can we get these contracts from'. Completing these contracts is how we get paid.

Where can I find purchase/assignment contracts?

Do we get it from a lawyer's office, a real estate software, or just make ourselves on microsoft word?

If it's from a law office or real estate program, how much will it cost (on average)?

If it's something self made, what would be the format and what clauses should be added?

Does each state need a different version of purchase/assignment contracts or is it all the same nationwide?

Of course they leave this out. Its intentional. They want you to buy their class or bootcamp or membership. They know that without contracts you cant make money.

Each state does contracts a little bit differently. I see you are in NY which really does things differently. In NY you actually dont write your own contract. All parties must have their own attorney and the attorneys collaborate on the contract based on their clients preferences. The good news about this is if your attorney knows you plan on wholesaling they can include a provision in the contract that allows you to market the property without penalty. And, you can market these contracts on the MLS as long as you have the sellers permission which of course can be granted through language in the contract. How do I know all this? I have a contact who is a real estate attorney in NY and she broke it all down for me in great detail when she was telling me why NY is a great market for wholesalers if they know what they are doing and have a great attorney. I am more than happy to put you in touch with her and she can answer any specific questions you might have.

Now that you mention it, makes sense that they'll leave that part, they have to leave holes so that they can still help and charge. Interesting to know that every state has different wording and rules. I was thinking about doing it virtually, but maybe I will start in NY. I will message you.

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Quote from @Account Closed:

Quote from @Nelson Fournier:

Where can I find purchase/assignment contracts?

Do we get it from a lawyer's office, a real estate software, or just make ourselves on microsoft word?

If it's from a law office or real estate program, how much will it cost (on average)?

If it's something self made, what would be the format and what clauses should be added?

Does each state need a different version of purchase/assignment contracts or is it all the same nationwide?

My advice is to never ~~write~~ create your own contract unless you are an attorney, have been to law school or have a lot of experience.

Each state is specific in their contracts.

Contracts are only toilet wipe until a problem occurs. Then they are very, very import to the last detail.

My advice to you is to find someone local who will share their contract if they have been at it for a long time and are successful and then give it to an attorney to make changes for your specific situation and goals.

I won a legal case because of one specific word in the contract.

Makes sense. So one would definitely need legal help if not experienced. Every word and clause counts.

0 Votes

Where can I find purchase/assignment contracts?

Do we get it from a lawyer's office, a real estate software, or just make ourselves on microsoft word?

If it's from a law office or real estate program, how much will it cost (on average)?

If it's something self made, what would be the format and what clauses should be added?

Does each state need a different version of purchase/assignment contracts or is it all the same nationwide?

0 Votes

Regards

7 Votes

New York City, New York

All Forum Posts by: Nelson Fournier

Nelson Fournier has started 4 posts and replied 10 times.

Post: Any wholesalers in southern VA

Post: Subject-to lead list

Post: Aspiring investor here to learn and connect

Post: Aspiring investor here to learn and connect

Post: Aspiring investor here to learn and connect

Post: Aspiring investor here to learn and connect

Post: Where can one find contracts?

Post: Where can one find contracts?

Post: Where can one find contracts?

Post: Aspiring investor here to learn and connect