All Forum Posts by: Ty Ottaberry

Unintelligent wholesaler trying to make a decision that is out of his League. I have a strategy that my lender and I have worked out where I find a rental property priced around 50k-55k I then get a loan for the property for 75k made out to the owner of the property. Once the check clears the owner takes his desired profit and cuts me a check for the difference  and that's what I used to do repairs on the property. 

wholesaler says he feels uncomfortable  working with me because he's never heard of that strategy. This guy has been wholesaling for under a year.  For one it's not his job to make decisions for the owner  and feel uncomfortable. If the owner doesn't feel comfortable with the transaction then so be it. A wholesaler jobs is to reassign that contract to a buyer and take his skimpy profit. Wholesaling is nothing more than a creative idea, at the end of the day there's nothing professional about it.  He said his buddy makes 7 figures a year wholesaling and he's never heard of the strategy either. In my eyes making 7 figures a year wholesaling is a very unintelligent strategy. Why in the world would you continue flip a contracts only to earn a couple thousand (which by the way gets taxed). The big picture sits right in front of you and it's tax free if you do a 1031 exchange and purchase more cash flowing rental property. If you're going to go hardcore wholesaling just get your damn broker's license for god sakes so you can stop acting like one lol. At least then you can call it professional. These guys go around acting like "investors" and "home buyers" and then make their self look bad when they actually come acrossed a intelligent investor and home buyer. 

If these guys would stop studying the YouTube wholesaling channels  and actually study the investing channels  they would make a damn good wholesaler with the knowledge of an investor .

I understand there's a lot of good wholesaler out there set provide a good solution if you're one then good for you. If you're not go back to the drawing board and forget how to wholesale and learn how to invest because I promise it will make your wholesaling business go a lot smoother and you look back and think holy crap ,I can't believe I traded that property off for a couple thousand dollars I could have made a hundred thousand if I would have had the right knowledge 🤷‍♂️. Mistake noted ,lesson learned ,onto the fast track you go.

@Frankie Betancourt

Someone may have already covered this I'm not sure .Most credit card company will issue you checks. You dont have to create a unnecessary loophole when you already have the line of credit. Your credit card company doesn't care how the money is spent just as long as the payment gets made. Call them and get them to send you a check book

4000 cash to who ever finds a buyer 

sale price 43k

VIDEO TOUR OF THE PROPERTY 
I ALREADY HAVE ALL OF THE MATERIALS NEEDED SET ASIDE TO FIX ALL OF THE MINOR REPAIRS ON THIS PROPERTY. I'VE BEEN GATHERING IT ALL FOR MONTHS LIKE A SQUIRREL PREPPING FOR WINTER JUST WAITING FOR THE RIGHT PROPERTY TO COME ALONG SUCH AS THIS ONE LOL.

THIS PROPERTY IS IN TO GOOD OF A LOCATION TO LET GO.
I DONT CARE WHAT IT TAKES.  

I HAVE GOOD CREDIT 
I NEED A GOOD LENDER THAT WILL WORK WITH ME 

WHEN I 1ST STARTED WORKING FOR MY SELF I TOOK THE WORST ADVICE IN THE WORLD FROM ALL THE UNEDUCATED SELF EMPLOYED LOWER MIDDLE CLASS TAX ACCOUNTANTS THAT HAD NO INTENTIONS OF EVER GROWING THEMSELFS OR THERE CLIENTS #justwriteeverythingofftheysay LOL

ANYWAYS THATS OLD NEWS. IM HIGHLY EDUCATED NOW AND KNOW EXACTLY HOW TO FIX THE PROBLOM,GET CREATIVE AND GET THE HECK OUT OF THIS SELF EMPLOYED FAST MONEY RATE RACE,  BECOME VERY WEALTHY AND LEGALY PAY NO TAXES. I JUST NEED A GOOD LENDER WILLING TO WORK WITH ME IN THE LOOPHOLE BANK STATEMENT PROGRAM TO ACQUIRE A 30 YEAR LOAN.  

OR I ALSO HAVE SOME GOOD LEVERAGE TO OFFER TO SOMEONE WILLING TO PARTNER WITH ME ON A MORGAGE LOAN. 
I HAVE A PROPERTY THAT I BOUGHT WITH CASH AND SOLD USING OWNER FINANCING FOR $10,440. IT CASHFLOW $174 FOR THE NEXT 5 YEARS AND ITS ALL YOURS FOR FREE TO THE PERSON THAT PARTNER WITH ME ON THIS MORGAGE SO I CAN GET THIS PROPERTY AND CONTINUE GROWING MY PORTFOLIO. 

I.M ME FOR MORE DETAILS TO GET THE BALL ROLLING 

@Benjamin Dodd

If you truly wanting to invest with zero money down this is your chance to receive an infinite return on investment . I need someone to partner with me on my next mortgage application. So if you're willing to grow your monthly income using none of your own cash hit me up . I provide the cash, I provide the great deal ,  your job is to provide the backup by providing your good credit an income combined with my good credit and income.  In return you receive $174 cash flow for the next 5 years. 

(Risks & benefits involved in this partnership are)

#1. having to take over the property if something was to happen to me .this means that you will have no control over the property unless I fail to pay the mortgage.  The only way that's going to happen is if I'm 6 feet in the ground lol so don't get your hopes up on that one because I'm still pretty dang Young 💪 

#2. Tax benefits- real estate provides tax benefits for both parties that are on the mortgage

#3. Equity pool- yes of course I will share a percentage of the equity and it will all be agreed upon and put in writing with the attorney. 

4# . As I mentioned earlier at the top you get $174 a month for the next 5 years and it does not matter it's a property gets sold within that 5 years you still get your fix cash flow. Because that cash flow is going to come from a piece of property that will be given to you for  structuring this mortgage partnership with me. Close your property portfolio not just one but 2 there will be no responsibilities do you have to keep up with such as Property Management Properties that I'm giving you because it is a owner financed mortgage note. And of course I will assign you a a mortgage assignment agreement and you will be the new lien holder

#5.  Once you do one deal with me there's no doubt you're going to want to continue riding the wave because honestly what real estate investor wouldn't. even if you're currently riding your own wave you would be crazy not to add to it.  My end goal is 200 unit apartment buildings with a few Walgreens mixed in.  I'm going to continue growing until i achieve my goal. 

#6 I'm looking for bold knowledgeable investors that understand the game as well as I do if not better. If you're just curious  and having trouble With analysis paralysis. Please don't waste my time . I have wealth to continue building and I need a serious partner that can run the numbers and follow through 

its a traditional note ,but correct me if I'm wrong here I'm not exactly a expert when it comes to Notes I just need to know someone that is so I can make sure every thing runs smooth lol . If I'm correct a land contract stays in the sellers name until pay off . iv got everything under a deed of trust & promissory note Etc...   the property status reads General Warranty Deed With Vendors Lien.     

so I'm selling one of my owner financing notes to another BP member.   What needs to be done to update the property status showing that he's the new lienholder.   Dose the tenant need to be apart of the deal ? None of the turms are changing on the note he is just simply buying me out at fair price 

I'm sure there is a few note buyers out there that could shed some light on this situation