All Forum Posts by: Tommy Adeoye

Do a google search for the these 2 forms for your state ( but don't use them yet): 

- Purchase and sale agreement -> (seller signs this form)

- Assignment of contract -> (Buyer/Investor signs this form)

Look for an attorney on BP and have them review the forms before you have respective subjects sign them.

You need a wholesale friendly title company - google title companies in your area, pick up the phone and go straight to the point , chances that you find one out of the first 6 are high. Learn by doing is the right way to go.  

I wonder what happens, if you were to end your message with “REPLY STOP to end or opt out” ?

@Peter Kozlowoski . Great . Is there a reason why you detest buying in this area?

STL REIs have a group on facebook.

I bet you there is someone on there that have come across , have heard stories or can review him. 

Try STL Real Estate Investors and St. Louis Real Estate Investing on facebook. 

If he isn’t known on there then you probably would want to tread lightly.

I have been getting tons of owners looking to sell distressed properties between $5k and $12k on the high end in the 63121 and 63111 St Louis MO. I comp’d the areas and turn key go for $29k - $39k. They seem more like a B-, C class neighborhoods and I hate to say no to bulk deals. 

Anyone in the area familiar with the rent performance? I suspect lots of section 8.

 I searched to see what the rental inventory is looking like out there as well and it looks like they have quite a lot waiting to be rented. Anyone willing to drop some insights?

In a cold market $500, Hot market $1000 or 1-2% .

Acquiring knowledge by experience is the best way to go . However, as @Jim Pellerin pointed out , you want to be sure you are learning from an experienced agent otherwise, truth be told, you’ll be wasting the most valuable resource you have got which is your time.

Determine what your goals are, what niche and strategy you are adopting, find folks on here that are where you want to be and tell them you want to learn by adding value (Hustle, Time Equity ) to what they have going on. Work out some kind of compensation arrangement , Give yourself a timeline and then start your side hustle with all the newly acquired experience. 

Of course, other routes like becoming a real estate agent, appraiser, inspector may give you some kind of exposure but if you want to be a wholesaler, then find a wholesaler and partner with them. Get creative and excel.

0.) Educate yourself on buying off market deals ( Forum, Podcast, Book on wholesale)

1.) Drive for Dollars

2.) Text Campaign

3.) Mail letters

4.) Network with Plumbers, Electricians, Postmen. Garbage collectors.

5.) Get on here and ask lots of questions.

Here is a strategy I came up with , the "snow storm" driving for dollar strategy.  If you live in an area that gets snow, simply drive around a few days after a snowy day, If you don't find tire tracks, grad address, skip trace and call that number, chances are the owner has multiple properties, out of town or just a snow bird looking to relocate .

Find a facebook group of REIs in your local area and tell them what you have.