All Forum Posts by: Travis Hurst

A fair amount,  yes. Based on comps, after repairs the property goes for $650k. The issue with the property is that it needs about 40k in updates(primarily 2 1/2 bathrooms need a full update) so no retail buyer is interested. The seller dropped the price 15k the day he reached out to me, putting the listing at $522,000 but I was able to put it under contract for $475k. 

Okay, great. Thank you! I kinda messed up a little bit by setting up a contract.. in that case i may need to double close

Good morning/afternoon. I currently have a property under contract that is currently listed on the MLS(at a wholesale rate less than the market price), but i was called directly by the seller. Do I have to involve the Real Estate agent that has the house listed or can I go directly through the seller because he contacted me? I would hate to set things up with my buyer and title company then find out I did something wrong. I need to know whether i can move forward right now without legal repercussion.

So you're telling me that explaining that you're wholesaling helps with that many offers? I try not to be a skeptic, but it almost seems too good to be true.

Thank you for the advice Nicole! I have in fact read through the entire beginners guide as well as done weeks of research on my own, and I have to say that this guide is very informative.

I most certainly won't let fear get to me and at some point very soon I am going to graduate from just  studying and proceed with marketing and drawing up contracts!

Hello everyone! My name is Travis Hurst, and i'm on the road to beginning my real estate investment journey!

The worry I have is whether or not I have taught myself enough to begin. To start with, the things I do realize that I need to research more is everything regarding paperwork like how to make a proper purchase agreement(I do know that I will have to deal with a title company in Ohio) and where to find a decent real estate attorney. I can find that out with a little more research, but my main concern is that I don't know enough about certain terms or details. 

I know all about the basics, for example terms like equity, expense, income, cash flow, escrow, appreciation, ROI, ARV, OPM,  and other things like that. I also know about marketing campaigns, ie. bandit signs, direct mailing, door knocking, etc. I just learned about the 70% rule and debt-to-income and some other rules of thumb.

All in all, what i'm trying to ask is, are there any important terms and/or concepts that I should really get to know before fully immersing myself into wholesaling? Are there any obscure things that I may be missing that might give me troubles in the long run? Have you heard the term you never know you don't know something until you know it? I am currently held up due to possible lack of knowledge and practice talking, and I don't want to allow myself to eventually get held up due to my fears.

Thank you for reading, and thank you for the help!