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All Forum Posts by: Patrice Baker

Patrice Baker has started 5 posts and replied 34 times.

Post: Reassigning LLC for a bank deal?

Patrice BakerPosted
  • Jacksonville, FL
  • Posts 34
  • Votes 4
Originally posted by @Curt Davis:

In order to get a bank owned home under contract you will have to be able to purchase the home or show proof of funds. You dont need an LLC to wholesale. You will have to put down the earnest money but make sure to get earnest money from your buyer.

Good luck

 Thanks for the response. So all he had to do was get the money the bank requested from buyer and purchased the property and then transfer it to buyer?

Post: New investor here in Jacksonville Florida

Patrice BakerPosted
  • Jacksonville, FL
  • Posts 34
  • Votes 4
Originally posted by @Stacy Williams:

will check the calendar app. The location is J Birds restaurant,  2600 N Ponce De Leon Blvd, St Augustine, FL 32084. (It also has an adjoining hotel in the back.)

 On meetup.com right?

Post: New investor here in Jacksonville Florida

Patrice BakerPosted
  • Jacksonville, FL
  • Posts 34
  • Votes 4
Originally posted by @Stacy Williams:

review the location to verify the correct meeting.  There is a breakfast meeting in St Augustine and an evening session at a local  hotel (Embassy Suites). There was another meeting added for a luncheon in Fleming Island.  I attend these meetings, but the other way has active investors with the same set for business.  I suggest attending both and getting the email traffic. I think you will see how many investors bring deals and questions to the meetings that you can gain additional training from. You cannot buy this knowledge. Bring business cards if you have them and a pen with a writing pad. Q

 Stacy Sorry I did not see this sooner. I will add these meetings to my calender. I'm still waiting on my cards to come in mail. I would hate to go empty handed! I hope to see you at on in the future!

Post: Books on Wholesaling Recommendations

Patrice BakerPosted
  • Jacksonville, FL
  • Posts 34
  • Votes 4
Originally posted by @Joe Graham:

@Patrice Baker.

Thanks for the recommendation.  I had that on my list of potentials.  I think I will go ahead and order it.  Thanks again!

 No problem! Im almost finished reading  and I'm feeling very confident to start doing deals in about a week! Good Luck!

Post: Reassigning LLC for a bank deal?

Patrice BakerPosted
  • Jacksonville, FL
  • Posts 34
  • Votes 4

Hello! I ran across a youtube video and the guy did a deal with a foreclosure he got from a foreclosure website.They wanted a 5,000 dollar deposit. He then posted the property to reach his buyer. he had a couple of interested investors and the agreed to give the bank the deposit. I asked did he do a contract with the bank and he said no. He said that he actually transferred a LLC to the buyer. What I'm asking is this the wholesaling way to wholesale bank deals and do you have to get a LLC for each one? Also, will the buyer agree to paying the deposit and will it be available in the 24hr period the bank gave ? Thanks in advance!

Post: Books on Wholesaling Recommendations

Patrice BakerPosted
  • Jacksonville, FL
  • Posts 34
  • Votes 4
Originally posted by @Tiese C.:

Thank you. This helps me out tremendously! 

 Glad I could help!

Post: Books on Wholesaling Recommendations

Patrice BakerPosted
  • Jacksonville, FL
  • Posts 34
  • Votes 4
I Have just ordered The art of wholesaling by Aram Shah and Alex Virelles off amazon. So far it has been a god send! I only paid $11.99 for the kindle version. I'm only on chapter one and I feel like I have been personally mentored so far! Hope this helps!

Post: New investor here in Jacksonville Florida

Patrice BakerPosted
  • Jacksonville, FL
  • Posts 34
  • Votes 4
Originally posted by @Paul Timmins:

@Patrice Baker

Welcome. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

 Thanks Paul! You definitely have created a to do list for me and I have some tasks completed!

Post: New investor here in Jacksonville Florida

Patrice BakerPosted
  • Jacksonville, FL
  • Posts 34
  • Votes 4
Originally posted by @Ned Carey:

Welcome to BP @Patrice Baker Yes Knowledge builds confidence. Be sure to check out the cool stuff like Podcasts under the education tab above.

 Thank for the advice Ned! I plan on listening to all of them! 

Post: New investor here in Jacksonville Florida

Patrice BakerPosted
  • Jacksonville, FL
  • Posts 34
  • Votes 4
Originally posted by @Stacy Williams:

Welcome to BP !!!  It is great to hear that you will be working towards your license.  Everyone says get your education first before investing. I reside in Jacksonville and I am still working on my education.  I would hope to see you at a few investor meetings in the city. I have seen very few realtors in the investor meetings, but it could be a powerful tool for you to add to your toolbox. Networking and marketing are very important.  As a realtor, you learn the laws, but not the creative strategies.  Having the knowledge of both schools of thought would help you in so many ways.  Again, learn both sides of the fence and have some fun on your journey. 

I can always use a good realtor-friend and hope to see you as your knowledge and confidence builds! REI is the way to go !!

Thanks Stacy! Yes, I have just finished my real estate course and am now preparing to test in the next month or so. I seen a REI meet up through meetup.com is this one that you attend? I would love to network with you and become your Realtor-friend! Hope to connect with you soon.