All Forum Posts by: Travis Daggett

"Tell me about your worst deal/biggest loser". If they say they haven't had one, run away!

You've gotten good advice here already.
I've done simultaneous closings on HUD houses. The only money I had out of my pocket was the earnest money. I paid for the purchase out of the proceeds from the sale.
Same idea as assignment, but HUD doesn't allow assignments.

Jon is absolutely right.
I would establish a relationship with a private lender and structure a line of credit. You may have to start out with more of a traditional hard money loan, but you can find people willing to lend for short time frames for interest and points. The understanding is that the money will be revolving and is secured by the property.
That's what I did. I started w/ my own money, then used a private lender. I also use HML.

That's about as broad a topic as I can think of!
I think many of us can agree that REIA groups are one of the best networking opportunities for RE investors.
Join and participate!

You've gotten a lot of great advice!
My list:
Pics
Repair estimates
ARV
CMA

I've sold a number of wholesale deals on craigslist.

Good advice from James.
I've been wholesaling for about a year and I'd encourage you to invest in your education before you expect compensation!

I've bought and sold a number of HUD homes using a simultaneous closing. The only money out of my pocket was the $500 deposit.

One way to think of it is to spend as much time building your buyer's list as you do making offers. If you spend all your time making offers, you may have a harder time finding a buyer than if you established some relationships w/ buyers along the way.

SugarSync is another good one I've used-good for sharing files that multiple people need to edit.