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All Forum Posts by: Bill R.

Bill R. has started 13 posts and replied 121 times.

Post: Advice on Next Steps

Bill R.
Pro Member
Posted
  • Investor
  • Branford, CT
  • Posts 131
  • Votes 67

@Paul Clemens With your time and on hand cash, I still feel wholesale is a viable option for you. Also you can look into subject to purchase and holds. Both low money ways to be in the game. 

Post: Advice on Next Steps

Bill R.
Pro Member
Posted
  • Investor
  • Branford, CT
  • Posts 131
  • Votes 67

@Paul Clemens What do you do for work? How much time do you have? You can do some wholesaling to build up some cash for buy & hold properties. Reach out to me if you have interest, I can point you in the right direction. 

Post: Seeking Real Estate Partnership in CT

Bill R.
Pro Member
Posted
  • Investor
  • Branford, CT
  • Posts 131
  • Votes 67

@Matt Zielinski Feel free to reach out with any deals or ideas - I would be open to speak about a potential JV

Bill

Post: Buying My First Tax Deed

Bill R.
Pro Member
Posted
  • Investor
  • Branford, CT
  • Posts 131
  • Votes 67

@Will Sifert Agreed, education is key. Read books πŸ§ΎπŸ“™πŸ“”

Post: Buying My First Tax Deed

Bill R.
Pro Member
Posted
  • Investor
  • Branford, CT
  • Posts 131
  • Votes 67
Quote from @Mike Rethis:
Quote from @Bill R.:

@Mike Rethis I like your enthusiasm. People will always try to tell you that you will "lose your shirt" or that it's not that easy but if people are doing it then you can as well. However you will need to deep dive into the process in order to be successful at it but 100% achievable if that is your desire. I would suggest you explore all options available to you before pulling the trigger and then do just that when you decide. One avenue I would advise to look into is buying Subject To. Look it up, it is a way to invest into property with less overhead than tradition methods. When I first started, my first 3-4 deals were Subject To deals. Once again, deep dive and learn the process in and out before jumping in though. Good luck   


 Thank you Bill for the advice! After going to a few tax deed auctions simply as a spectator, I decided that although it is a good idea, it's a lengthy process and is better suited for me when I have the available liquidity to not worry about my cash being tied up for months/year. 

I'm familiar with the Subject To approach broadly. I see people like Pace Morby that swear by this approach, but I'm a little skeptical to how well it works and the expected returns from it. In your experience, how is it dealing with the banks once they figure out what's going on? Do they usually figure out, and when/if they do, how hard do they press? Do you work with a lawyer that helps you with these types of deals? What kind of returns on average should people expect from a Subject To property?

 @Mike Rethis I am not exactly sure how Pace Morby is teaching subject to however I used subject to when buying to rehab and sell property. All my subject to deals were relatively short - longest maybe 4-6 months and the bank/mortgage company never approached me with the due on sale clause. My comfort with subject to was relatively short term not as a long term buy and hold scenario. I do work with a attorney but I have all the paperwork for subject to purchases and put it together myself. Profit margins will vary with the type of deal you are able to negotiate  - there really isn't an average on subject to deals any more that any other type of deal. Good luck

Post: Wholesaling Book Question

Bill R.
Pro Member
Posted
  • Investor
  • Branford, CT
  • Posts 131
  • Votes 67
Quote from @Eliott Elias:

There are so many resources out there other than books that help newbies with wholesaling. Basically, any question can be answered with a short search. 

Very true, there's just something about a book for me though. And most people are just giving filler to sell a course. But appreciate the feedback

Post: Wholesaling Book Question

Bill R.
Pro Member
Posted
  • Investor
  • Branford, CT
  • Posts 131
  • Votes 67
Quote from @Bob Stevens:
Quote from @Bill R.:

How many here feel that they have read a down and dirty, no frills wholesaling book? Would there be interest in one that walks the beginner through he whole process  as a one person business? Asking for a friend ; )

 I am not saying its a total waste of time, but it is a waste of time. Its not rocket science. Connect with someone doing deals, learn then apply what you learn. Exactly how I started. My 1st month flipped a contract for 19k. Well that was 12 or so years ago, since then  really nothing I have not done. All without ever reading a REA book or going to a guru seminar. I have found that most that read go to seminars and analyze things NEVER do a deal. 

Good luck 

@Bob Stevens That's pretty crazy with no training, reading anything at all you intuitively knew how to, realize whom might need to sell, how to find their info, contact them, what contract to use for a wholesale deal, how to structure deal, what formulas are proven, how to figure rehab cost, where to find buyers, etc., etc

.... probably no need for a real estate consultant either, right?

Post: Wholesaling Book Question

Bill R.
Pro Member
Posted
  • Investor
  • Branford, CT
  • Posts 131
  • Votes 67

How many here feel that they have read a down and dirty, no frills wholesaling book? Would there be interest in one that walks the beginner through he whole process  as a one person business? Asking for a friend ; )

Post: Buying My First Tax Deed

Bill R.
Pro Member
Posted
  • Investor
  • Branford, CT
  • Posts 131
  • Votes 67

@Mike Rethis I like your enthusiasm. People will always try to tell you that you will "lose your shirt" or that it's not that easy but if people are doing it then you can as well. However you will need to deep dive into the process in order to be successful at it but 100% achievable if that is your desire. I would suggest you explore all options available to you before pulling the trigger and then do just that when you decide. One avenue I would advise to look into is buying Subject To. Look it up, it is a way to invest into property with less overhead than tradition methods. When I first started, my first 3-4 deals were Subject To deals. Once again, deep dive and learn the process in and out before jumping in though. Good luck   

Post: How come there are no effective wholesalers in Connecticut?

Bill R.
Pro Member
Posted
  • Investor
  • Branford, CT
  • Posts 131
  • Votes 67
Quote from @Samuel Eddinger:
Quote from @Bill R.:
Quote from @James McGovern:

How come there are no effective wholesalers that are hitting it out of the park in Connecticut? Is there something about our market that makes wholesaling more difficult?

I'm right here......

 Do you sell your wholesale deals?  I'd be interested in flipping one or more. 

@Samuel Eddinger Yes, we do. Send me a message and we'll talk