All Forum Posts by: Trevor Schuler

Rightfully so! I have studied for quite a while and put myself through a lot of audible and podcast learning. It does seem to happen quickly once you get the ball rolling or start to get your feet wet. I would have never imagined I would be in this position now but it makes sense when you look back on the actions you take to get going. I'm not that fond of the idea of using hard money, but may have to utilize it or partner up.

@Austin Fowler experience is king I think too! Although technically you would be starting another business depending on if you do the rehab and management. I would definitely like to here from a few seasoned investors on what they think the right approach is? I'm sure that most investors started out slow and things snowballed.

@Kris L. In my case as I mentioned earlier it would most likely be an off market deal. For you it could be through another wholesaler or maybe a direct mail campaign. Something that may not qualify for a loan at first and would need private or hard money to purchase and fix up, season then re-finance. Buy, rehab, rent, refi then repeat

 That definitely seems like a sensible number! I operate in a market of $70k-$200k housing market range. I definitely think I will be using private money for this and maybe some personal lines of credit. 

 As a wholesaler I would probably just use one of my wholesale deals to take on myself with a partner or preferably with private money. I am just trying to figure out any substantial pros and cons to waiting on lets say starting with 20k in reserves vs starting with lets say much more like 100+k. I could see the advantage of starting early as it would get the ball rolling and potentially getting to the refinance point sooner and thus getting the snowball effect going. Waiting for more money could also allow for security. But I'm kind of stuck there for the breakdown of the two.

Hey BPers!! I'm currently running a new wholesaling business that is doing just fine. I'm trying to come up with a strategy plan to real estate investing. I was just wondering on how much money should I save before starting to BRRRR properties. Should I jump in as quickly as possible or should I wait. Can anyone give me there thoughts on the pros and cons of waiting until I have more savings to then reinvest in to some BRRRR properties. In my mind I would say that it would be best to wait until I have more capital and then begin the BRRRR process, but I don't have any solid evidence other then gut instinct. Thoughts and suggestion please my friends.

When does the seller in a wholesale transaction pick the account that they want the money wired to? Is it with the closing documents or is it submitted before that. Is there any requirements if it is going to be in a close relatives account? 

@Lydia T. Thank you Tom and Lydia for your expertise!

@Lydia T. The only issue I have is that the purchase and sale agreement has listed my title company and they've done a title search already so I know they've been in contact with the seller and the seller may remember that the contract said my title co. name. I don't want to spook the seller and legally the buyer needs to uphold my contract as well?

@Roland Paicely awesome thanks! I think she senses I'm new, so she's metaphorically pushing me around.