All Forum Posts by: Ron Clarke

Mike Nelson, thanks for the info. Are there any books you can recommend that break down in detail the whole process?

Mike Nelson
I'm still learning how Wholesale works, but if I have it correctly it just seems be a paper shuffle whereas:

1. I locate the property,
2. go to the table to secure the note
3. locate a interested buyer/investor
4. break down the numbers for them to see where they have room for profit
5. sign over the note to them
6. get paid

do I have it correct in its simplest form, as I know that there is more to it

I know what you mean i have that same eagerness, passion and determination, plus I love to learn and use what I've learned.

How hard is it to find an experienced partner, I have tried to contact the RIEA, but the number i have is no good so I'm hunting that down at the moment so i can attend meetings and network.

Anson Young

i was thinking bird-dog since i was new to the wholesaling side of it, but after reading the forums i quickly 86'ed that idea and said wholesale would be a better way. I wouldn't have a problem at this stage giving 60-40, since i would be learning and I put the knowledge inf front of the profit, since once i learn the whole aspect of it i can get the profit on the back end.

Patrick Jackson

Thanks for the wishes

Welcome Joel Aleman,

you have found a GREAT place to learn from. Interaction is the key. ASK = Always Seeking Knowledge and this site will never let you down. If you haven't already read the Free Beginners guide as there is a lot of good information in the 60+pages, also listen to the pod casts, as I have found them very informative + they are from actual BP members sharing there experiences.

Welcome Tony Thompson

I am also new to REI (even though i have have been reading for books for a while) as well as BP and in I'm your area (Henrico). Like Chris K. stated if you have crunched the numbers (Due Diligence)and every thing seems good then go for it.

You seem to be like me as all the reading and studying has got your blood pumping, but I am new to the whole wholesaling aspect of the RE side.

I myself have been leaning towards bird-dogging to get to understand how our market works.

Also connect with the RING and Richmond REIA in our area as I am doing to connect with like minds.

If you would like to connect shoot me a message.

I'm new to REI but to me even though this is what is called a Stigma property what happened in this property is Public Knowledge.

At those numbers it still seems like a good investment to me. Its definitely a whole lot of room as you stated, but i'm interested in hearing what the seasoned vets have to say.

@Terry H. Great question. I took the RE Salesman course back in "07" and finished the whole process, but unfortunately that was the time when things got crazy in the market, so I had to put it on the back burner. Now I am going to take the coarse again (refresher) to get my license and join up with a broker to learn how things work on the inside.

Like J Scott said this is definitely the best way (as i see it for me) to learn process as you create revenue though commission, become familiar with various areas, how to close deals, and become familiar with the market.

Also look up RE Investment groups in your area and visit the meetings, there is a lot of networking there to be done.

Welcome to BP Jack Heatley III,

I'm new here myself and have to say there is tons of info and solid people who are willing to share there knowledge of RE to the newbies like us.

If you haven't already check out the pod casts, I find them very informative.

Hello BP,

Since joining the site I have been listening to pod casts and searching and reading the forums expanding on what I have learned prior. I must say that I am growing very eager to step out take my shoes off and get my feet wet, however I don't want to rush into anything without my ducks lined up.

The plans I have in mind that I think would allow me to step out and make things happen:

Plan: bird-dogging for other investors in the area-save cash- get HML loan and acquire property-do 1st flip (if I start now I should be able to have this done by the end of the year or beginning of next year)

Plan: become an assistant to an experienced investor and trade my clerical experience, critical thinking/problem solving skills, etc in return for on the job learning

I was also thinking about wholesaling, but I am just learning how that works

Am I thinking the correct way as far as getting my feet in the shallow end and eventually wading out to the deep end? How did you know you were ready?

Thanks in advance for your replies.

For a new REI would using a HML be convenient and what would be the most that the HML will cover or will it depend on the deal that's presented to them?

I guess basically i'm asking how does it work. I know that they have higher interest rates which I don't mind as long as its a win-win situation.

I have my eye on a subject property but trying to see the correct way to go for funding as I don't want to take money away from the family if not necessary.

Thanks in advance

Thanks for all the warm welcomes guys all ready seems like home.

Glenn Espinosa sure I would as I have yet to locate a investor group in the area, seems to be all down in the 757 area.

Ned Carey I am currently reading the beginners guide, was actually one of the reasons i joined the site to see what it consisted of. Thanks for the link will check it out.