All Forum Posts by: Junior Salters

Terry Royce I definitely understand and that is my other option. And I don't want to overload myself, but I was thinking I could do all the above while taking classes although that would mean more money out the pocket, but if that's what it takes I'm fine. Thanks for responding!

Ned Carey I honestly don't fear it too much as far as the test go, but I know the time will needed to be taken. But you're right, I'm sure there is a lot of legal stuff to catch on too but through BP I do have some foundation!

Mark Ferguson I knew you would say that! But you're right. I've done some research and being that it is South Carolina (no offense to my state) it doesn't seem to extensive or difficult, more time consuming.

Gary Bailey I like your thinking Gary!

Aaron Mazzrillo Also one of the big things I notice and if they aren't licensed their spouse is which is the other thing I'm weighing.

Thanks for all the responses you guys!

Hey guys!

I'm currently wholesaling to build capital to invest into SFR and MF homes for a passive buy and hold strategy and I kind of want to kick things into high gear on the real estate side. I currently have a full time job as a Credit Analyst for a deep subprime auto lender and was wanting to know, do you guys think it would be too tough to also try to get my real estate licensing on the side? Once I got it and I would like to venture into it full-time preferably on the REO side a little to better help my network and growth of my own portfolio? Would this be something I need to leave my current full-time job for while taking the courses and possibly after? Thanks for your input!

Hey Jon
I'm actually in the middle of my first three wholesale deals as we speak. I did my own episode of driving for dollars and found over 50 vacant homes and mailed yellow letters to the owners. It wasn't a big thing, but money was tight and I had to get going somehow. I ended up talking to a few sellers and coming across a motivated out of state owner/investor who not only wanted to sell me one of his properties but ALL THREE! So I was blessed more than most with being able to find a motivated seller in a yellow marketing that only consisted of about 50 letter. I started officially in May and so it literally only took me a month to get a property under contract after taking my first step. I'm the exception, not the rule though lol

I've gotten all three under contract with two headed to the closing table so my fingers are still crossed right now. Although I'm still pretty new, my best advice is just get out there, gain as much information as possible, figure out what you want to achieve and how to do and JUST DO IT. You can't find anything or anyone if you don't make a move. Money shouldn't be an issue because trust me I'm not rich, but I used what few resources I had. Also partner with a more experienced investor or wholesaler, it helps!

Happy Investing man!

Deborah B. I have been going back and forth and picking up a part time job in real estate while also cutting back on expenses and saving money as well.

Manuel Gonzalez Nothing beats a little hard work and that's definitely what helped you get there which I like!

Really great helpful advice/insight from all you guys thanks!

@Keela Chambers that's a great plan! I unfortunately made my worse real estate investment and purchased my first brand new house lol. Yea I'm going to do wholesaling and hope to add some capital for reserves and a down payment

How did a lot of you buy and hold investors get started purchasing rental properties? I'm speakingainly to those who didn't have the 10k or more sitting around to purchase one? How did you gain the capital at first and roughly how long did it take you?

I'm currently doing wholesaling to gain more reserves and cash flow to purchase my first rental property by next summer/fall. Wasn't sure if I should vamp it up by studying flipping houses and possibly JV'ing a deal with an experienced investor even though I know that raises my risk but would give me the more money at a larger rate. Just let me know what you guys think and how you got being a buy and hold investor if you don't mind!
Thanks!

If it isn't spelled out who pays for the title search does the end buyer do it or wholesaler?

How much are the closing costs roughly or on average dealing in wholesaling? I know it's a simple question and probably depends on closing attorney or title company. Thanks!

Dawn A. quic question, how are you able to escrow the first way?