All Forum Posts by: Kenneth Huddleston

@Steven Johnson

I'll definitely try contacting him and see what i can learn, thanks for the advice. The problem is that i think we are a bit far apart to be actively working on deals together as he is about 2 and a half hours north. Or would there be a way of working that out? Like perhaps he gives me connections to buyers in this area and marketing methods and we split the profits? What do you think?

Hey, my name is Kenny and i am 16 years old. I have been studying real estate for about a year now and am looking at breaking into the Wholesaling game, and i also have a relative who is willing to act as a legal face so that i can invest. I already have a potential real estate agent and contractor lined up, as well as about 8 buyers. One of the most repeated tips on this forum is to find a mentor and i was hoping someone in portland, OR area would be willing to walk me through a few deals? Summer break is coming up and i am willing to put all my time and energy into real estate, and will do whatever i have to and prove i am a worthy student. Please let me know what you think.

Probably should have mentioned it, so the fault is mine.

I'm looking more at a wholesaling profit right now, but a fixer upper with less than 20k in profits doesn't sound too interesting anyway. Most rehabbers look for twice that in a good deal.

Hey. I have heard about the typical methods of bandit signs, direct mailing, and so on so forth. I am looking to get that set up but in the meantime i was wondering if you guys had any tips on finding deals via more mundane sources such as Craigslist, Realtor, Trulia, and so on. I have heard people mention finding deals that way, but how is it done?

Hey, i was just hoping you guys could share with me the criteria for when a property is worth your time to flip and when it isn't. I know the basic 70% rule of ARV minus repairs, but what else do i need to know when looking at properties.

Welcome on board. I wish you luck in your path to financial freedom.

I myself don't tend to invest based on appreciation. Warren Buffet once said that he looks to the investment itself to justify the price, not appreciation. Although Warren Buffett. Although his word is not law in real estate, i find myself agreeing with him here. To bet on appreciation is more closely akin to gambling than investing in my mind.

For a landlord cash flow is king. Although getting a property for cheaper is always a plus, you typically look less at the value and more at the ROI. For instance, if you get a property worth 200k for 150k but it only provides you with a 1% cap rate, its still a mediocre property. Typically landlords look to get a 1.5% return on their investment per month or higher. So if you invest 20,000 into a property, you would want to see a return of $300 profit each month.

Okay, so lets say that you have set up the proper foundation for a wholesaling business and have leads flowing in. What questions do you ask the seller to determine if the property is even worth checking out? How do you filter potential leads from garbage? Also, how do you go about asking these questions and handling the situation? Thanks for the help!