All Forum Posts by: Richard Gaston

@Dmitriy Fomichenko Thanks mate, I was wondering about that. Its just like my art group that I am a member at :)

Thanks Jon. As I said these look really good Investor Dream homes. From what I can see on the outside it a lot of cleaning and TLC, but thats from the outside, I really can not see the inside to much except the Living Room in one of the houses and from that I see a lot of cleaning as well, probley painting and some minor cosmetics but that is only from WHAT I can see, I should expect more repairs on the inside. The second one really needs a bit of work from what I can see on the outside but hey they're fixer uppers lol. So again thanks for the input :) I will check it out.

Ok, normally when I made a purchase in the past I dealt with another Investor who sold me the homes wholesale. Took a lot of Creative Financing in order to make the deal a 100% no cash deal, but I am getting off topic here. My question is this, I have found two really good looking fixer uppers not to far from where I work. Now I have been watching these houses for the past several months and I do know no one lives in them. There is no "For Sale" sign on either property, I never had to do any kind of search before so how do I search to see who owns the properties and/or if they are forclosures?

Anthony thank you for the feed back. Got my wife involved and for the first time in any of my endeavors she is all in.

Michael, thanks mate. I am already doing my homework to see what and which way to, years ago there was such thing as a beast called No Doc Loans now like the Dinosaurs they are no more but checking around I now am finding Private Lenders that basically do the same thing as a No Doc Loan but not like a Mortgage Company. I understand if I were to do a Fix and Flip I am going to have to work fast in order to get any work done on the House in order to sell it in a timely manner to pay back the Loan, unlike a No Doc Loan where you have a 30 year ARM or Fixed depending on the Mortgage company. So in order to get that done I need to get my ducks in a row so to speak, already interviewing contractors to make sure they can do the work and on a budget as well as being able to do the job in a timely manner. Then I am also Interviewing Real Estate Agents to see if they ever worked with an Real Estate Investor and what they're success rates are in Sales so forth and so on, sorry guys I worked last night on the Grave Yard Shift and am a bit tired, and when tired I get a bit wordy, my wife hates it lol...But you guys know what I am talking about because you guys are already doing what I am restarting to do ;) Cheers.

btw guys seeing as how I haven't done this in years I am basically starting all over again, back to the very beginning. In the mean time I also work at a (gasp) 7-Eleven making 10 cents above minimum wage, walking to work because dummy me forgot to get a DL right after I got my vehicle so of course I got a couple of tickets which resulted in my DL (when I did get it) getting suspended. Of course I am paying off the tickets, no choice they're taking it out of my paycheck by Court Order. So I am a bit limited so to speak, buy hey I am working lol and if I can figure how to get to work I am sure even with my limited Net Earnings figure how to get this to work ;)

Thank you for the insight Gerald, am way ahead of ya. Was just telling my son (because of his poor grades in school) that I am 55 years old and EVEN I am willing to learn something new which he should concentrate at school, Learning :) And that you're never to old to stop learning even when you're out of school. I do the same thing with my 3D Art, a hobby, but I am still learning how to use the program and I had it for years.

Thanks Jerry, I may have to agree with you. Build a foundation then work my way up. 1 at a time maybe slow but I am sure everyone remembers the story of "The Turtle and The Hare" :) Slow will be much better and build a better foundation as well as trust.

Thanks for the welcome Paul. I will check it all out. I already told my wife until I get it really going is that I am going to start on Wholesales. I think that would be a good way to make some income to start, then expand from there. I have done rentals when I was doing this before, only had a couple of rentals and its a good way to make a decent passive income and I will recommend it for anyone that wants a steady source of income, but to do their homework as well. Sometimes you really need to have a good backup when the tenents move out, there will be times you will need to do repairs in order to be able to rent again. I have already signed up with our local REIA here in Lakewood/Tacoma, WA to get some insights on what to do in order to get Wholesales. The other way is if I can find out how those guys did it when I was involved in this before is buy homes in Lots, they were doing Lots of 100, man thats a lot lol...I am not sure but I am thinking they may have got them all on Contract and then sold them out individually, not sure but its a good guess. I am also starting to put out feelers here in Lakewood to see if I can find a Motivated Seller to put the house on Contract. I saw something about Bandit Signs, but after going in one area and seeing Bandit Signs all over the place, and all with different numbers tells me that its being over satuarated. I was thinking of making myself as a Bandit Sign, making a T-Shirt with "We Buy Homes-Any Condition" etc. Hey its an idea lol... So thank you again for the Welcome :)

Howdy everyone from the Evergreen State (Washington). My name is Richard, I am 55 years old and have a wonderful pain the butt oops I mean wife (lol). I also have a 12 year old going on 20 son and a bigger pain in the .... never mind lol...I am basically new at this, again. But I have done this once before years ago when it was possible to get a No/Doc Loan, my only problem at that time is I was doing it in Baltimore, MD and at that time in the area I was in Baltimore made it illegal to Fix and Flip single family homes which I was dealing in at the time, the investor had to hold it for 5 years and live in it at the time, which I could not do. I had to many properties to do that so of course I lost it all. After about 15 years later I decided to do it again but I know the rules have changed, one there are no such thing as NoDoc loans anymore, but I know there are lenders that knows how to work around that some what, I just need to find them. Also when I first did this I did not know anything about Wholesaleing, the investor I was buying my properties from was doing that at that time. Now that is something I like to learn how to do, find single family homes in Lots and then sell them wholesale to investors who wish to fix and flip. That fellar was getting them in Lots of 100, now to be honest for me thats a lot, I may want to start at 25 and then work my way up if possible, as well as work on some fix and flips after I get this biz going. Yes I am going to do this when I can seeing I have a somewhat full time job, I actually work 32 hours a week at a (gasp) 7-Eleven and making 10 cents above minimum wage ($9.45 per hour now) I want to do this full time later but I really need to get it started first. I barely make enough to pay my bills, but I have lived in this old apartment for 13 years and seriously want to move out, so I want to be able to buy my own house doing the deal the same way I am doing the business, buy it wholesale. Ok, this has gotten a little lengthy and I am sorry, did not mean to write a book here lol...