All Forum Posts by: Account Closed

Alright, @Robert Leonard sounds good thank you for the advice and the site recommendations. 

But what questionable business practices are you referring to? I just want to make sure that I avoid doing things that are considered by reputable REIs and others in real estate to be shady.

Thank you @Bryan L. and @Brian Gibbons I really appreciate the advice. I think that's a good idea just to reach out to some Realtors and see who their recommendations are. Thank you so much.

Thank you so much @Bryan L. for responding. I guess that makes sense. How do you find a loan person to work with? How do you know if they're effective?

Hello everybody,

I was wondering if anybody had any thorough answers to this topic. I have decided that in the near future I would like to start doing lease options. I already have a home that I was planning to wholesale that I think would be the perfect property to do a sandwich lease option with.

So I understand that at the end of the lease period with my tenant-buyer that the goal is for them to purchase the house. But I've also read that unless the tenant-buyer has bad credit they're probably not going to want to lease option a home.

So my question is how do you find a tenant that has bad credit but that you know by the time the lease is up (12 - 18 months later) that they will have good enough credit to purchase the home?

Anyone who knows or who does this regularly that has an answer please let me know step-by-step how to do this, I haven't found a thorough enough answer to this question anywhere online or in the books that I have read. So it would be nice if this post could be the place people find the answer to this question in the future!

Thanks in advance! :)

@Kay Mays Hi Kay. Thank you. I found the deal by marketing to open probates at the wicourts.gov site. Hope that helps!

Thank you @Tim G I really believe so.

Thanks @Account Closed . Me too! But it feels really good to be on the other end of the success story, though too!

Thanks @Robert Leonard It really does!

@Christina R. yes definitely. I agree, those two things are so important to any success and I'm so glad that BP aids me in both!

Happy Holidays!

This happened a little over a few weeks ago but I just haven't had the time to write about it to give it justice. Until now!

I've been trying to break into wholesaling since I first heard about it this summer in July. After trying so many different things and sending out so many different letters I never got a legitimate lead until September. But even after I that lead the deal ended badly and I didn't end up making any money. I attribute this miserable failure to not having BP in my life. Yes, I looked at the forum posts but I wasn't actually a member. I wasn't connecting with anyone and I wasn't asking questions that were relevant to me to help me in my specific path. I'm sure if I had been a member I never would have ran into the horrible deal that I did.

But I didn't give up. With BP my wonderful tool and weapon in hand I sent out more letters. And then in early November I finally got a call back from a motivated seller. This time I was smart. I went on the Marketplace forum on BP and I admitted my ignorance and I asked for help. My new BP connections were there to help me. @Dawn Anastasi reffered me to @Dale G. we connected and then became a power team. We offered to split the assignment fee of any deal that we did. Dale really has taught me a lot. She has a lot more information and resources than I have and she was so willing to share them all with me.

We went to go see the house and with her help things went really smoothly. After using the techniques she new to evaluate the offer price for the home I then negotiated with the seller and I was able to bring the price down marketable one.

A few days later, Dale drafted the flyer and she went to the REIA to market it for us. I really wanted to be there but living and going to school out of town made that very difficult. At the local Milwaukee REIA she met two interested buyers, they saw the house the next day and it was a done deal!

From then on it was just a bunch of faxing and emailing back and forth. And then the day before Thanksgiving we closed and I got my first check for $1,750! Not bad for a newbie, huh? Just five LONG months after I first started! I would just like to thank everyone on BP, @Dale Giles and @Dawn Anastasi, especially. I can't wait to see what the future holds for my real estate investing career!