All Forum Posts by: Tyrone Alcorn

First off, I'm completely new to wholesaling and for the past 2 weeks I've been eating and sleeping real estate from reading the education section of BP, listening to podcast, reading books, and watching vlogs. I found the preforclosure list and tax delinquency list in my county and have been studying them fora couple days now.So today while coming back from going out with the family I decided to test my tax delinquency list to confirm or deny my assumptions by driving pass a house on my tax list and sure enough, it looked abandon and showed all the signs I've read about and I heard. Since this is my first time seeing this and I havent even had a chance to build a buyer's list, get a title company or find a real estate attorney, I'm like a deer in the headlights right now. Any thoughts on what I should do now?

Hey @James Wise, I've seen in the education link on BP how some people say wholesaling is illegal, what strategy would you suggest for someone starting out without a large cashflow but really good credit. I would like to add, I am looking into purchasing a duplex, to househack, once my current lease is up. I'm prior military so I do have a VA loan available to me also. It's always good to hear from people who are contrarians to popular strategies. Thanks.

Hello Everybody, 

I live in Central Texas area (Williamson County) and pretty much a newbie to BiggerPockets. I've been in and out of the community, but now I'm officially making a start. I'm an accountant by trade, but I'm looking to get into wholesaling currently and eventually into buying and holding as I grow and learn.  I've read all of the information in the educational links and am continually looking to learn but now looking to add action to my knowledge. 

January's goal is to nail down a good title company, have a lawyer to go over the buyer/seller contract that I found on BP for correctness, and nail down at least 10 leads to action. Most importantly, if not top 3, I need to find cash buyers. 

Right now I have a good list of pre-foreclosures and tax delinquencies that I will continue to analyze, and I'll go from there.  If I'm missing something feel free to give me some insights but other than that I look forward to reading everyone's good gouge in the forum and learning some more. 

Hello @Ron Drake I think that the renting to base housing it pretty promising for investors. I see properties getting rented pretty heavily in the Jacksonville/Hubert area. But that's just the thoughts of what I see as being new to investing. Having a knowledge of what the majority BAH(military housing pay) is you can kind of get an understanding what the price range to work around. 

@Drew Oquendo Long time no hear.Great to see you hear. Knew I would run into you somewhere on here. We should talk!

Thanks for your comments and hello everyone, 

@Paul Timmins Thanks for that insight, I will definitely look to compare those foreclosure prices with the houses in the area. 

Hello everyone,

Tyrone here, I'm a newbie here looking to starting out in REI for the long term. I currently live in Jacksonville, NC and I want to begin by investing in foreclosures (plus willing to do rehab) in order to give myself the opportunity for greater return.

First off, I've done some reading about REI, haven't seen to many books on foreclosures but have read several articles on this. I understand there will be several things to look for when buying foreclosures but I know firsthand knowledge is better and I also know of the extensive time it takes to secure these type of homes. Although I'm looking for foreclosures I am not counting out great deal homes for sale or short sales.

The area I live in is high military residents but it seems like they are continuing to build new homes. After doing some research it looks like homes with upgrades get the quickest visibility (as normal) as there are a lot of homes in this area without upgrades. So I figure a decent sized family home with moderate upgrades (i.e. kitchen (countertops, sink), bathroom, bedroom (closets), possibly hardwood floors) would get buyers. I know all of these upgrades are possibly not feasible on the first buy (fingers crossed) but some of these would separate my home apart from the rest.

I currently rent but I have a VA loan at my disposal and I know other ways to secure homes via conventional home loan and other types of loans.

Are there anything important I should know or tips to help me on my first investment? The more the better.

If there is anyone in the Jacksonville/Swansboro, NC area or anywhere else that could give me some insight on this that would be great.

Welcome any insight!