All Forum Posts by: Shawn Ackerman

HI @Harmeet Janjua It is not impossible to find a good deal.  Just need to know what you are looking for.

@Charles Clark let's connect.  It is great to see what your company is doing in the Milwaukee market! Do you assist with rental management in the 53206 zip code maybe around 16th /North?

Hello Sean. How you use the equity will be important. If you are going to sell then you must understand the tax implications. If you are going to do a HELOC then you must understand the cost of using those funds.

Once you have a handle on that then you can decide from that point. I would, If in this position, take the equity in the form of a HELOC and purchase a cash flowing asset that would not only pay for itself but pay for the cost of the money while putting cash into my bank account each month. I am a long term hold investor so that would likely be my play.

Good luck Sean!

Hello Doug, I am not a real estate attorney nor is this legal advice.
Unless someone's state has specific laws banning contract assignments you should be fine doing the following.  

Look for your states offer to purchase contract online or contact a realtor to get a blank copy. review the agreement to be sure assignment is not expressly excluded. if there is nothing excluding assignment from the contract then writing the words "/And or Assigns" after the name or company's name on the buyer's line should be sufficient.

Good luck!

Hello Erick a "good deal" is relative.  Here is why I say that.  Some investors look for cash flow and some look for appreciation and there are investors who need to merge the two in order for the deal to be considered good.

I think identifying what sort of investor you are looking to become should be answered first.  I am not suggesting that you cannot diversify however are you looking for cash flow or is buying now, holding for appreciation and or forcing appreciation is your play.

Good luck on your journey! best of luck

Hi Jessica, I would suggest getting a propstream or any other lead generation account, finding cash buyers who bought similiar properties to yours in the last 3-6 months in the area of the properties you are looking to sell, skip trace then cold call or cold texting the list. You can also hire a VA to do this for you. This is mainly how we find buyers to offload our learnkey properties too. Good Luck!

Hello Zachary,  You are correct in looking at the Mid-West for cash flow.  I have been in Milwaukee WI for quite a while as investing in my backyard in NY is cost prohibitive. good luck on your journey!!!! 

Hello Shelly, Good luck on your journey.  Wholesaling real estate is a great way to start as you must become familiar with deal underwriting and deal sourcing.  Just know that it is a "no days off" kind of business and very mechanical.

I would suggest documenting your process via video so that eventually you can bring people on to replace the different hats you will be wearing.

Keep in mind of these 5 components of any wholesale business.

lead generation, deal sourcing, underwriting, marketing, transaction coordination.

Hi Sergio, There is no better time than the present to get started.  There are conventional strategies and unconventional strategies to get started in real estate.  You can get started with rent to own/lease option or another creative strategy like buying subject to.  learn about as many strategies as you can then open up a prop stream acct and go to town looking for motivated sellers in Middletown.  

Aside from strategy you must understand how to underwrite a deal.  you are asking the right questions.  Keep pushing and good luck to you on your journey!

Javaria, Welcome to BP! Focus on finding and underwriting deals.  No better place to start. Good luck on your journey!