All Forum Posts by: Ryan Whitcher

Follow Up!! It's not something I struggle with as much these days, took several years to get where I'm at - but struggling to find a good system of how/when to follow up was a daily barrier for me. 

Now it's just trying to balance time-blocking when you have important emails to respond to when coordinating urgent closings :)

I agree with pretty much everything said here. I don't think BP has a negative viewpoint on wholesalers, but rather it warns investors of the potential problems that wholesalers sometimes create. Like @Jacob Maes said - their numbers are wrong quite often (yes, I'm generalizing a little here) and that's because the barrier of entry to wholesale is so small, resulting in lack of knowledge most of the time. 

BP preaches transparency when wholesaling and conducting your business as white-hat as possible. 

Quick real life example: I wholesaled a deal 3 weeks ago in which the seller just texted me a few days ago saying this deal changed her life and will make her a millionaire because the speed of the transaction enabled her to take her equity/profit and plug it into 2 very good real estate deals. 

So...there can be much value that a wholesaler brings to the table, both for buyers and sellers, but there just like anything, there are right and wrong ways to conduct business and BP simply warns of the wrong ways wholesalers can sometimes conduct business.

• @Kenny Colato (P.S - I don't know why the formatting here is so out of whack)

congrats on starting so young! You're already ahead of most people. If you want the most simple answer:

Build your credit - open a credit card, use a car loan if your financial situation lets you.
Save up for a down payment
Work on getting consistent job history.

These 3 alone will help you qualify for a loan whenever you should need one.

@Matt Kautz no standard really, just want each party will agree on. I’ve paid 0% and up to 6%...just depends on the monthly payment and can I cash flow.

@John Renfer see if your friend will let you buy his rental on terms (seller finance). I just got 3 seller-finance deals last week all under $5,000 (less than 3-7% down).

If there's a mortgage in place, just assume his existing mortgage and pay his equity portion on seller finance.

@Matt Kautz dude...Seller Finance 110% on this one. The seller is willing to carry? Seller Finance all day! Now it's just a matter of negotiating a good set of terms for you. Happy to help on this if needed. Or I'll buy it and give you an assignment fee ;)

@Noah P Bonds I don't have a direct REI coach, so can't speak on pricing. But what is it that you actually need? Sometimes a personal Business coach is not necessary.

Answering this might also give another investor more information on how to properly answer your question :)

@Jessica Douglas NOPE! I've done several assignments in South Carolina myself.

Just make sure you're being ethical and not treating sellers like garbage. That's the main reason why wholesaling gets a bad reputation - too many newbies getting houses under contract at way too high of a price and eventually letting the seller down. 

@Alex Mandery welcome! When asking anyone for advice and/or their time in any industry, you need to bring something of value in return. 

Start thinking of how you can put yourself in a position of providing value to anyone you are trying speak with that's already actively doing deals in the industry. 

If someone PM'd me and said "hey man, any advice on how to start investing?" I'm likely never responding to that 99% of the time. I have in the past...and it turns out to just be a waste of time, some fly-by-night person looking for a quick buck and never to be heard from again. 

P.S. Used to live in Riverside and in Newport Beach!

@Pauline Mungai the beauty of off-market deals is that they're always going to be the best. The downside is you have to work for them! Either market for them yourself, or start networking with people who already market for them (wholesalers). There are a bunch of trash wholesalers, so just do your property vetting when networking with them. 

I'd start with your local REIA! Build a relationship with another investor who's actively doing deals, bring them value if you can. It will pay off.