All Forum Posts by: Ryan Substad

Looking for drivers for Driving For Dollars campaign. No experience needed. Just need a smartphone and a car. Message me for more info.

So she bought the house and flipped it and is now trying to sell it? If that's the case then it's probably going to be hard to talk her down anymore. If there is no motivation then I would move on and try to find another property and follow up with her in a month or two and see if she still has it and might be willing to negotiate more if her situation changes.

@Dion McRae go to local meetups and meet fellow investors in your area. You'll be able to learn a lot from networking with others. Finding a mentor is another thing that will really help out. Feel free to reach out to me if you have any other questions.

@Shernise Harrison they will have to have some type of motivation if you want to negotiate any more off of the price. If they want to get rid of it and close quickly you could see if they will reduce the price. If they will do seller financing you might be able to make the numbers work. Maybe they want some money to move so you could put a contract together to have escrow release some of the money to them a week or so before closing so they have some money to move. Otherwise if they have no motivation then it's gonna be hard to negotiate the price down anymore. Feel free to send me a PM if you have any other questions or need anymore help.

@Demetrus B. my goals by the end of 2018 is to close on 6 wholesale deals for a profit of $30k+ and flip a house for a profit of $40k+.

@David Stewart the plan you put together seems legit to me. Have you ever thought of forming an LLC and putting the house under contract with that LLC and then selling that LLC to a rehabber? You basically would be getting your "wholesale" fee from selling the business instead of assigning the contract. That way you might not have to double up on the closing costs. Just a thought.

@Philip Murtagh the best advice I would give it to get connected with a local mentor who is wholesaling. You can hustle and find deals for them or offer to split deals you find if he'll walk you through the process. $5k will last you a little while sending direct mail unless you plan on doing more low cost, high effort marketing like driving for dollars or door knocking. You really need to know your numbers or have someone who can help you out. You do t want to be sending out a deal that you way overestimated the ARV or underestimated the rehab by a lot. You'll lose trust with your buyers and if you have to back out of too many contracts you've signed with sellers that'll hurt your reputation. Let me know if you have any other questions.

@Mary Jay yes those are great suggestions to focus on the 80%. The 80% to focus on is the stuff that will make the greatest difference in your investing career (finding deals and making offers as you suggested). Think about the one thing that if you did it would make the greatest difference in your life and focus on that one thing.

Feel free to PM me if you have any other questions.

@Joseph Rios could you get a 203k rehab loan? You can borrow the purchase price and rehab costs that way for as little as 3.5% down. You would have to owner-occupy it though and that might not be what you are looking for.

@Mary Jay I work in corporate America and have a family at home along with trying to invest. Sounds like you have it a lot harder than I do though being a single mom. Try focusing on the 20% that will bring 80% of the results. Maybe there is someone local who you could partner up with to help split the work possibly.