All Forum Posts by: Matt H

Even if it is saturated it really shouldn't matter. Because a house flip is not much different than buying a house. If you had no where to live you'd be able to have the motivation to find a house to live in and buy wouldn't you? So what's the difference with buying a house to flip. Are you trying to say that only "those" kinds of houses are not readily available? Well guess what, there's no such thing as "those kinds of houses that make good flips". I've flipped brand new houses that I didn't do any work on many times. So it honestly has nothing to do with the market. It's all just getting over the fear of trying something new. You shouldn't be so worried. Just get in now before prices go higher which they will in the spring. People are more desperate to sell in the winter because their's less people home shopping. But come spring the market will go up, it always does every spring.

I think it refers to the equivant of a realtor. A realtor is like a bird dog. They're job is to go out and find a property for you to buy for a commission of the sale. But you don't have to be a realtor to do this. All you need is an agreement with someone with the means to buy properties. So if you find them the deal then you would get a commission of the sale. I'm not sure what the legalities of this are though but I believe that is how it works.

Maybe spend the time to make the business cards. That you can do in 1 hour on any PC with a printer and some business card paper. But dont' waste the time with a website. What's the point unless that's actually going to be your platform to launch your realestate business. But if you're just looking to break into things and find a property to buy then you should be just making offers based on your research into the market. ie: mls, newspapers etc...

Hello, I have a 48 unit AAA 1976 built apartment pending. It's in a major city near their university. Fully occupied with a waiting list. The cap rate is 9.25%. I might assume the existing mortgage, but if I could find someone to just lend me 2 million CAD and take first position that would ideal. 2m would be approxmiate 90% LTV. However it's likely the property could appraise even higher than what I'm purchasing it for. If interested PM me or email me at my website: www.mshinvestments.com

I owned both new and old. But consider this. Yes, you can get the old one off ebay for cheaper and if you're that strapped for cash well, I guess go do it. But if you at least have a job, then you should be able to afford the new course which I recommend. It's about $250 or so, and well worth the money. Also you can buy Dolf Deroos's "Realestate Investors College". It's got about 13 CD's. Teaches "everything" and you can buy it off some discount book sellers (amazon) for like $35us if you shop around.

Like I just don't get it. I honestly don't. Most people will spend tens even hundreds of thousands of dollars getting diplomas and degrees that amount to jack sqwat! And if they do amount to anything that means that in the end they get a day job working 9 to 5 for peanuts for the rest of their lives. I just seen a program on CNN. The man of the house couldn't afford to send his teenage kids to college. Why? Because he still had his own damn student loans to pay off!!!! Can you imagine??? Even professionals like many doctors and lawyers aren't doing all that well because they're trading time for money. Why the hell would you ever trade time for money. It's the stupidest thing you could ever do if you want to get anywhere in life and not have you own student loans left at the time when you need to pay for your own kids college ;-)

So why not instead spend $250 + $35 to learn from two of the best and brightest in the industry. Who've made hundreds upon hundreds of millions between the two of them. Starting with nothing. Who actually "do" and not just "teach". And then adding some of your own backbone and determination to take what they teach and just go do it. So for less than $300 bucks you'll be well on your way to an early retirement.

I can't believe this but just the other day I got into a discussion with a relative about how lower class breeds lower class, and middle class breeds middle class....why? It's pretty simple actually. The parents teach their kids to "get jobs". Or at best "go to college or university first" then get a job. Which is about the worst thing you could ever teach your kids if you actually want them to do well. Because jobs don't equal wealth. Like Robert Kiosoki says "all you need to get rich is income producing assets". That's the simple key to getting rich. Owning income producing assets and having large amounts of "good debt" on your side. Anyway, ****, I sound worse than some late night informercial dude. But I'm just saying that golly gosh darnit, why on earth did they not teach me this in grade school or college? Why? Tell me? I'd be way ahead of the game if someone just told me year ago that's how to get rich. None of this "go to school and get good grades, and get a good job ********" any way enough said.

I don't usually do any rehabs. That's rediculous if you ask me. Far better to just drive through newer neighborhood where new construction is going on. Any house that's half done that has a for sale sign on it write down the info. Then call them all up and find out how much they want for the house and what's to be done on the indside (ie: carpet? hardword? Granite? etc...) Then if you find a house that appears to be selling below market value buy it. Make sure it's something that is in the finishing stages. Like at least the framing is done. Then supervise the rest of the construction. Making sure it's done up to the standards. Then once you buy it immediately relist it for more. In the mean time start finishing it off. Like put in the blinds, buy cheap but nice ones. Put in a lawn, do it yourself if you can which is also dirt cheap. No need to spend hundreds on trees. For srubs and trees just go into a forest near by. Preferably where no one will care if a few small trees go missing. Dig out some small pine and spruce trees. Bag the ends. Put them in your car or truck and bring them back and plant them. I've never actually done that but I've been tempted too. :lol: Then you relist it as a brand new finished home. It's amazing what you can charge as a premium for "finishing it off". Like bring it from that "finished construction look" to that point where it's "all done" and has that homey look and feel. it's easy to do and you can make as much or more than having to renovate some old dump that nobody wants renovated or not. The other benefit to doing what I'm suggesting is that people also will pay a premium to not only buy a new house buy to find a finished house in a new neighborhood. Most people buy in new neighborhoods to live in themselves, not to flip. And so if someone can find a nice home in a new neighborhood which has all been finished, like the grass is put in, the blinds are in, the appliances are in...they don't mind forking out another 50 to 100k or something astronomical for expenses that to you were minimal. Like if you go and find enough shrubs from the forest, and plant them all nicely, they might think you spent $25k on the landscaping. And like for example my last house that I did this on, had a walk out basement. So I purchased all the materials to finsih the basement. Costed about $5k and said that they're included as one feature that comes with the home. So they're probably figured they're getting $25k worth of materials right there. So anyway you get the picture. That's how I do flips. But I'd say regardless of what you flip just be sure you find a house in a good neighborhood.

Even though you don't have money you have time on your side. You're still young so as long as you keep your focus and be persistant in getting into realestate then by the time you're 30 you'll be retired. You need to keep motivated until you do your first deal. After that it will quickly become second nature. But remember if you're first deal doesn't go through, don't quit. Just keep going until you do your first deal and get that big fat pay check like the one I'm going to go pick up right now from my lawyer for $185k for a flip that I did in just 6 months. The other thing is just focus on one area at at a time. You dont' need to know all the different areas of realestate investing. All you need to do right now is become a specialist at one area. I recommend learning how to flip homes at first. That way you can quickly raise the captial you need. Then after you've raised some capital just buy and hold apartment buildings. Probably the easiest and most guaranteed way to get rich on the planet. Just remember rome wasn't built in a day. So just keep going, and make it your goal to continue until you do your first deal. After that it will be almost second nature. The first deal is the biggest problem because it's phycological barrier that you have to get past. Like riding a bike without training wheels. Once you learn how you'll be on your way.

I wouldn't burn any bridges. Keep your day job!!! You'll need it to estabish credit with the bank if you need a mortgage. How is a bank going to lend to someone who doesn't even have a job? No offence. I'm just saying keep your job, and if you quite, go back and see if you can get your job back. Because you need to establish that you've been working at one place for at least 6 months before a bank will even look at you. That's why I'm saying to go try and get your job back if you've already quit.

Maybe next find a mentor. Find someone who's already done well. To do that just join your local "realestate investors club" in your area. Or apartment owners club. Meet some new friends there. All you need to do is become friends with one established apartment owner and they'd be more than happy to help a friend out by showing them the ropes.

Also read: Carlton Sheets couse and "Dolf Deroos" course. You can listen to them in your car and turn your drive time into a phd in realestate investing.

So you're homework:
1) keep your job, or go and try to get it back, beg if you have to, just get that job back!
2) Go to ebay and get a cheap copy of "Carlton Sheets' no money down. And Dolf Deroos "Realestate investors college.
3) Join a few local realestate investors clubs, or apartment owners clubs in your area, and meet a few apartment owners that you could become friends with.

Now go and kick *** and take names!

If you're planning to do this then I have some advice. In my opinion you'll be hard pressed to find an experienced agent that will be willing to do that much work to find a property for you. But what you could do is search the mls listings yourself and when you know what properties you want to make offers on then just go to just about any agent and say I'd like to write up offers on all of these and see which one I might get. Then after you do one deal and the realtor actually get paid, and then they realize your serious about this, and not just some wildcard then they might be more interested in doing a little more work for you. Maybe even finding you the properties to make offers on. But without at least one deal done who's going to go out of their way? Realtors have a pecking order of their clients.

Also when you go to sell, don't worry about who you list with. What you absolutely must do is just get on the mls. And the cheapest way to do that is using a "Flat Fee" realestate agency. They generally save you about 40% in realtors commissions. Because there's usually like perhaps a 2% chance that the realtor who lists your house will actually find the buyer as well. The buyer is found by being on the mls and having thousands of realtors with their own clients looking up your home and then scheduling to come and see it. I would never ever pay some agency that claims they will give you the most exposure and all that crap. Just go flat fee, get on the mls, and save the commissions. You'll sell just as fast.

That's basically two terms with the same meaning. Some people saying buying and selling, some say rehab, some say flipping. Flipping is the in term that's being used on all those flipping house shows on tv. In some cases you don't need to hardly do anything to a home. All I did on my last flip is install new blinds. Or perhaps all you need to do is mow the lawn, and paint the front. The other thing that most people don't realize is that if you have to do a rehab it can be extremely inexpensive to do if you do the work yourself. There's two inexpensive ways. 1) is that you can go to like Home Depot and get a instore credit card that will allow you to defer payment on your materials for 6 months. That way you get the materials for free at first. Then if you can sell the home within six months you can then pay of that line of credit from the proceeds of the sale. The other way and this honestly is my favorite...call me frugle....but got to Walmart, and look at how cheap they sell paint. You can buy like those 20L large pales of paint for like $50 bucks. So for like say $100 you could do the interior of a whole house. Brushes? and other stuff? Well just go to the dollar store. They just got to work, as long as they work that's all you need. I know this all sounds cheap, but I"m just saying if you're just getting started and you already don't have the money for anything, these are the cheapest ways to pull off a rehab. Again...I just love Walmart paint :lol: