All Forum Posts by: Ryan Webber

Believer, I have not found one single "golden" approach to finding deals. Now I have found a couple dozen "silver" approaches that will each yield a deal or two every year. By doing a variety of marketing methods consistently and persistently I have found great success. It doesn't come in one big bite. It comes in lots of little bites.

Those methods range from mailouts to preforeclosures to newspaper ads.

My market is pretty strong for rental property. Most of my rentals cash flow fairly well. Normally about $100-200 per unit after all expenses with an average per unit cost of about $15-20K. My only non-cashflowing rental right now is a small apartment complex that needs to be rehabbed and is only half full.

Wholesaling provides an opportunity for someone to build income with little capital or credit. All it requires is ambition and some specialized knowledge. The more ambition you have, the more money you will make. Wholesaling does not require a real estate license. A license is not required to buy or sell any property that you have an equitable interest in. That interest can be a contractual interest (you have the property under contract) or you actually own or have title to the property.

A wholesaler in a nut shell puts property (normally distressed property) under contract and assigns or resells the property to another investor. The investors a wholesaler sells to either use cash, lines of credit, or hard money loans. This allows quick closings on properties that sometimes need extensive repairs.

A wholesaler lives off of the idea that price overcomes all objections. If you can sell a property for a low enough price it doesn't matter what's wrong with it, somebody will buy it. A wholesaler focuses on developing two things. Finding deals and their network of investors to sell to.

Getting started, a wholesaler should normally not ever buy a property. You put properties under contract with a contingency and focus on quickly selling the property for more money to other investors. If you end up not being able to sell the property before you are expected to close then you utilize your contingency and walk from the contract.

A wholesaler is a middle man, and a good wholesaler becomes a very well payed middleman that other investors love. The thing is that if you have a good enough deal under contract, there are other more established investors out there that will be glad to pay cash for it in a matter of days. If you have a house that will sell fixed up for $100,000, it needs $10,000 in remodeling, and you have a contract on it for $55,000, then with a developed investor network you could have an investor buyer for it for $60,000 in a matter of days. You sell it or assign the contract for 60K, you bought it for 55K so you just made $5,000 in a matter of days.

In my market appreciation for me is a no factor. Appreciation is a steady 5% or so around here. I don't factor it into any of my investments. I make my purchases for rentals and rehabs, based on current values. They have to work now or I'm not interested.

Welcome to the forum, Johnny.

I'm not sure that if the house is up for rent that it necessarily means that they are deceiving anyone. Did they maybe sell it to someone who is renting it out? I'm not sure about the fence or bush but I don't know if I saw the episode you are referring to.

Not to say that it isn't TV and that some things are edited and changed, but I don't think that necessarily dictates for them to be off the air. I don't think they really get to dictate what goes on the air or how it goes on the air. That's left up to the station.

I do agree that the profits are exaggerated through not factoring in holding costs, closing costs, and miscellaneous fees.

Either way, welcome to the conversations, Johnny. In the future you might want to take your caps lock off. In the forums it means you are yelling.

I'm sorry, Green, I think I read your post wrong. It's a package deal for the two units for 65K. That does sound quite a bit better. That actually sounds like a pretty good deal.

lol, I've never researched it. Is it a resort area?

Welcome to the forum, RE Prospector.

Sorry to hear about your job (well kind of sorry). You seem pretty motivated and that's a good thing. How long can you survive without income to build your RE business? Maybe getting a part time job or something might be a good idea as you resurrect your business. You've got to pay the bills as you build your future.

In my opinion, the quickest way to get income in real esate investing is wholesaling. You can get a decent size check in a matter of a couple weeks. It would require an extreme amount of focus and effort to make something that quickly, but it is completely possible.

I think Green and myself included, just like the honest upfront approach more.

Maybe you could just come in here and talk about how you ALREADY ARE involved in this and would like to get some different investors feedback. You post a link and we check it out and tell you what we think. You are honest and we give feedback, everybody's happy.

There are quite a few guys who come in here selling something or another and frankly we don't come here to buy or sell stuff. We come here to interact with each other, and if some kind of transaction comes from that then it's all the better. Since we come here to help and to learn, when people like you come here "creatively" selling something, we just don't like how you smell. Any of the more experienced guys around here have been sold on quite a few things that they wished they hadn't bought, so your back door approach only makes us quiver.

No, I haven't invested into any tax liens, yet. In my state they don't even sell tax liens. They actually foreclose on the property and sell it. I've done some research on tax liens in other states , and I liked what I saw, but I still do not have a need for it yet.