All Forum Posts by: Phil Hartten

@Todd

Correct.

@Tyler Brunette

Single family. 3 2 bath. 50 k-150k

Skip everything needing a lot of repairs. There are plenty of pretty good houses with distress sellers.

Also major hotel company stocks like Hilton which was up 18% today. I was in the hotel business for 40 years.

Watch Marriott they always bounce back big time.

I wasted time watching AstroFlipping.  Same ol pitch that they have a new and better way of doing things.  But really they target a RE niche like defaults, probates, etc and then do the same buy with a assignment clause and sell to a buyer/investor.  They might even go to wholesalers and pick up their property/deal and simply mark it up say $10K and move it to a buyer/investor....that is super easy and can get  you a deal a day if you focus on that and follow the 70% rule right.

So it is nothing new...nothin great...and their phone call is a salesperson who asks what is your goal...how much would you like to make a month etc....then they say ...hey why not partner with us...we will teach you what to do and what not to do and all  you have to do is pay a HUGE upfront fee and then you are toast.... they get  your money and run.

Don't fall for this BS   ...... do NOT pay big sums for info that can be had for under $100 ...tons of info...

The process is so easy....find a distress owner and hope they will take 50 - 60% of the value perhaps ARV After repair value...which is the After repair value minus fix up, your commish and minus closing costs and then get a offer signed with a tiny earnest money and close in about 2 weeks...just have a real buyer lined up to pass it onto....there it is.....saved you thousands of dollars.

Anyone is welcomed to comment and add if you like.  Bigger Pockets have systems you can get for a small amount.

But wholesaling is the same as RE retailing but buying from a distress seller for a lesser amount cause they want out for one of many reasons.  There are tons of distress sellers out there...mostly off market is the place to look like probate, preforeclosurers and vacants.

Not to hard to figure out....just takes some effort each day...the big pricey guys will not do your work...they just take your money....if those sales people were so smart why wouldnt they just do the deals themselves instead of pitching you....cause they don't know sh t thats why.

Get some business cards go to local REI meetings and talk to investor/buyers. Use vacanthousedatafeed.com PH

In Toledo -Maumee -Perrysburg areas there are plenty of distress properties and distress owners for sure. I prefer to work with the listening agent. I did about 36 buy rent fix and sell over the past years and most were reo s and va fha reos too  they were so easy to do. 

Skip junkers needing lots of rehab as there are so many good properties around. I found four within ten miles of home. 

I had back problems so now I can only find deals and run the numbers and hand over to others as ny fix days are definitely over.

I live in Florida ow most of the time but would like to communicate with others in Toledo as I think it is much better to jv and work with agreeable realtor as they spot great deals every day. 

those $200 seminars are BS mostly..they will give you some good starter info but the weekend seminars are to snag you into big money courses....do not do it.

The info they will give you can be gotten for free on Youtube...there are a thousand hours of training for free as you will find out and you can get most of the info you need FREE.

Don't be fooled into thinking those so called gurus are anything more than seminar hustlers grabbing beginners big bucks....crazy.  Just skip that weekend and kiss the $200 good bye as y ou can stay home and go online and learn much more and not get the big ol sales pitch.

Believe me I have been to those pitch sessions and they are hungry monsters after your bucks.

I am originally from the Bahamas and would like to get into the market down there in terms of timeshares and vacation homes and I would love to find someone who would be interested in investing in the Bahamas as well

Yoo...stay far away from timeshare...I used to be a General Manager of a time share resort and it is a total rip off...total.....believe me....once someone signs the contract they and their heirs are respsonsible for monthly fees and all up coming special assessments which never ends...

I repeat..stay far away.....never never ever go into timel share for any reason....NEVER>

Just stick with wholesaling and learn it and analysis the deal and follow the simple 70% rule and make sure y ou don't buy it y ourself as I did about 35 of these flip deals and the costs you dtermine maygo way way up....unforseen repairs like mold and basement problems.

Just find wholesale deals and flip them for a year or two atleast and never buy at a foreclosure auction when you can not see the inside...that is a terrible bet that it will be okay inside...never is.....don't be a fool or get fooled.....preforeclosures are okay as you can get in and make a real assement and talk to the distressed owner.

I am originally from the Bahamas and would like to get into the market down there in terms of timeshares and vacation homes and I would love to find someone who would be interested in investing in the Bahamas as well

Yoo...stay far away from timeshare...I used to be a General Manager of a time share resort and it is a total rip off...total.....believe me....once someone signs the contract they and their heirs are respsonsible for monthly fees and all up coming special assessments which never ends...

I repeat..stay far away.....never never ever go into timel share for any reason....NEVER>

Just stick with wholesaling and learn it and analysis the deal and follow the simple 70% rule and make sure y ou don't buy it y ourself as I did about 35 of these flip deals and the costs you dtermine maygo way way up....unforseen repairs like mold and basement problems.

Just find wholesale deals and flip them for a year or two atleast and never buy at a foreclosure auction when you can not see the inside...that is a terrible bet that it will be okay inside...never is.....don't be a fool or get fooled.....preforeclosures are okay as you can get in and make a real assement and talk to the distressed owner.

Great.  I bought and flipped about 35 properties in the last 25 years....not much lately as I had back surgery

I'm going pretty well now....found 4 do able properties that I do wholesaling but I need a wholesaler to buy the properties I found........I'm good to go and the numbers do work out and houses in ok to good condition here in Toledo, Ohio....I also live in Naples Florida and will be flying there tomorrow.  Phil

I did a bunch of buy/fix/rent....35 in all...never again......way to much problems, fix, collection, utlities, etc.  Best to buy right.....small fix costs and flip immediately and take your cash...soon you will need to bank and you can close on one or two a month....and say at just $25K per profit...not bad and all hassles eliminated.  Go only for non junkers neeing only cosmetics and seller who 'divorced' the property.  PH  I find these in Naples Florida now for investors...I just ake a small finders fee as I hurt my back bad and an retired now.

Brian...thanks..... if you buy a note and get a deed transfer it works easily once the banker or lender agrees...might take a few arm twisting but they do not want non performing notes at the bank.

Pretty easy really...and gets a owner off the sherrif sale hook and the bank is finished with a deal going bad fast.