All Forum Posts by: Richard Low

Security Title. They're under the umbrella of Fidelity National Title. I'm 100% brand new to wholesaling this year and I went to Security Title off a recommendation from Sean Terry's podcast. The first guy I spoke to actually knew Sean personally and had done a bunch of deals for him. They do double closes, wraps, subject to, etc. It was very helpful to go in and meet with them.

I'd give you the name of my guy but I'm in the NW corner of the valley in Glendale off the 101 and 59th. I'm guessing you're looking for someone a little closer. Good luck!

Sean Terry put together a program called Flip2Freedom academy, which is a video/mentoring version of his Flip2Freedom podcast. It's basically detailed step by step wholesaling with lots of motivation. There's not as much one-on-one mentoring as I would like, but there's a decent community (not as organized or broad as BP) and coaching webinars every 2 weeks with interactive Q&A.

I'm going to document my progress here, just like David Tower and a few others have done. I hope this will serve as a guide for future BP members to see if it's worth it to sign up.

I figure that the contracts and forms alone are worth the cost of signing up, and we'll see if the videos help as well. From what I've seen from 'gurus', they're heavy on cost and light on content. This seems to be the opposite, heavy on videos and actual content, but lighter on the wallet. The basic plan is $97/month but he has $597/year (cheaper but more up front) or a $997 lifetime membership. I went for the basic plan but I'm going to upgrade once I get a deal.

Sean also just released a program called FreedomLogic, which is a lead tracking, website publishing (and more! but I'm not sure what exactly) software solution. It's free for 30 days and then $97/month after that.

I'm not trying to advertise this program, I just wanted to announce the start of my experience with Flip2Freedom academy for anyone else who is wondering about it. And the website for it is flip2freedomnow.com. Sean uses his 'fear of loss' advertising, so he opens the academy every 6 months for new members, and this is one of those times.

Let me know if you have questions about the content and I'll dig around and see what I can find.

I think most people here use yellowletters.com. I haven't used them yet, but I understand that they customize each letter based on the list you give them and it appears handwritten. I think you can order a sample from the site for free.

Thank you for the detailed response, Ben Leybovich, it's good to get a dose of reality. I've gotten similar responses before but it's easy to get excited when I hear about sub2s and using other people's money for 100% financing.

Right now I'm getting my Real Estate License in the evenings, and while I know it's material that I could find elsewhere, I'm really glad I'm doing it. Getting my realtor's license is teaching me a lot of un-sexy details related to real estate transactions. It's forcing me to learn the basics and terminology, even if some of it will never apply to me. I'm looking forward to having access to the MLS, giving me the ability to accurately comp and find details on pre-foreclosures.

I'm also attempting to wholesale since it's 'low-risk' and 'low-startup.' In reality I'm learning that wholesaling is still a 'pay-to-play' game where you have to invest some money in marketing and a significant amount of time dealing with all the un-motivated sellers to find the few motivated ones.

Looking back, what would you have done to accelerate your 7yr learning curve? Obviously you've compiled your experiences and knowledge into your CFFU, and that looks like a great resource. I just feel that getting out there and doing something sooner than latter can only accelerate my learning. In 6yrs I'll be done dental school (2yrs) and my Army payback (4yrs), but there's gotta be something I can do between now and then besides studying. That being said, I don't mean "go out and buy something, even if it doesn't really cash flow." If I set a goal to find 3-4 sub2 deals in the next 2 years but I don't find any that are a 'true deal,' I'm ok with that. At least I'll have learned something from the attempt, whether it's how to (or how not to) market, talk with sellers, calculate comps, compare management companies, etc.

I would love to make some money in the process, but if I don't I'm willing to stick it out for the long haul. Did you have any local mentors? Did you invest in courses? If you could go back and change your educational experience from those 7 yrs, what would do differently?

I realize that I've derailed my own post at this point, sorry! I'd still love to hear more opinions on my original questions.

I'm a second year dental student in Phoenix Arizona and I'm wondering if it's reasonable to pick up a few properties while I'm here (2 more years). Being a student I don't have a lot of capital, so I'd be looking for properties that I can do with 100% financing, potentially sub2 by marketing.

I just need to know if we'd be wasting my time picking up properties in Phoenix if I'm going to move out of state after my schooling. My wife and I were property managers for a 4-plex with out-of-state owners. They bought their property while in school and then left the property to one of their tenants. When those tenants moved out we moved in and became the property managers. We were undertrained and underpaid, but since we were both in undergrad we were just grateful to get cheaper rent. I learned from the owner's mistakes and I plan to create a system/business that I can teach to one of our tenants before we leave, based on the knowledge I've gained here in BP and elsewhere.

Is it reasonable to think I can find 100% financing, whether through sub2 or some other means?

Is it reasonable to think I can manage our properties personally and then train someone locally to take over when we leave? Or should I just plan on finding a good property management company?

I'm looking forward to everyone's thoughts, esp. Ben Leybovich, since he's done many of his investments with 100% financing.

If you were looking for properties to wholesale and also a few to keep sub2, would you word your marketing (direct mail, signs, etc.) any differently than if you were just wholesaling or just looking for sub2? Or is it all pretty much "We Buy Houses Fast" across the board? It seems like a letter with "I would like to purchase your property at 123 Happy Lane for cash and can close quickly" is leaning more towards wholesaling, but I guess it doesn't matter if it gets them calling. You can always offer sub2 terms if they want a higher price or aren't as motivated to move quickly/cash out.

Also would you chose different filters from listsource.com if you were looking to find sub2 vs wholesaling?

I've read more about wholesaling and how it's structured than about sub2 deals and I guess I need to find more good reasources for learning sub2s - how to market for them and how to structure the terms in AZ.

I've searched the forums, but it seems like not as much has been posted about sub2 as there is about wholesaling. Maybe I'm looking in the wrong places.

Simon, thanks for sharing the steps you've taken, I just registered my domain and now I'm working on the LLC vs. DBA question. I've got to try and catch up, you're moving fast!

Oh and since most everyone agreed, I just registered the domain http://phoenixcashsolutions.com. Even if I haven't decided between a DBA or LLC - I'll need it either way.

I like GoDaddy's generic 'website under construction' page, I just hope my final website looks at least as classy.

So if I'm going to move and wholesale and/or rehab in another state in 2 years, you're saying that I might be able to take my LLC with me (aka keep the credit-worthiness of my TIN?) and use it in the new state? I'm new to this so sorry if I'm asking for it to be spelled out.

If someone randomly has an LLC with the same name in the new state, can I change the name of my LLC when I 'transfer' it?

Carolina E, You're right, I could do Arizona Cash Solutions LLC. I don't plan on expanding past the Phoenix area, since I've got a time limit for how long I'm here (2yrs), so I'm ok just being local to Phoenix. I'll have to sleep on Arizona Cash Solutions to see if I like it better.