All Forum Posts by: Vincent Crane

@Greg Moritz We were looking for houses in bad condition, or that were really small (800sqft or so) that were next to rehabbed or new builds, so we knew it was an area with a lot of activity going on, which gives us good comps.

@Damir Kamber 1) you just need to get started, build a driving for dollars list, mail them, negotiate, and just be taking action. 2) build your network before you need it. I've already got a list of 10 builders and 15 rehabbers so as soon as I find one of those deals (which I haven't yet) I'll know who to call and talk to, and have them be able to look at the deal and potentially partner with me. I've cold called builders and asked to meet at their projects just to meet them and establish that relationship. 3) Meet 3 new people in REI per week. You need to have a huge network and that's how you meet your buyers, your rehabbers, your builders, your agents. I started seeing results once I started constantly meeting people in real estate, you naturally end up learning and talking about it and then figure out your next step.

@Tony Lanier Sure Tony, you should check out the meetup that Jered Sturm hosts, on the last tuesday of every month, through BP.

@Jeff Dimock Thanks Jeff, it was really hard getting started but it really starts to snowball once you get going, and once you see that it can work, you're hooked and you want it to become your full time job. I'm not even close to that yet but, just getting the first deal done shows it's possible.

@Joshua Dorkin this seems like a post you'd like. 

And @Ryan Horne yes absolutely. There's actually a meetup here once a month hosted by Jered Sturm where about 100 people come, all from BP. Look in the local Atlanta forum and you'll see the group. I've made some great connections there and we can talk there as well.

I think so many of you will be able to relate to this post I'm about to write. 

I was 24, and just finished reading rich dad poor dad, and was ready to find out how I would strike it rich. After some googling I came across biggerpockets, and I was hooked. I've listened to every single podcast, read hundreds of articles, and was saving about 40% of my income, in hopes of buying a house to house hack with. I couldn't find a house where the numbers worked, in an area that I wanted to live here in Atlanta, so I had to figure out some other way. I figured that wholesaling was a faster way to earn some income on the side and then use that to learn how to find deals, build my network, and eventually use that earned income to buy rentals. 

I got my roommate to partner with me, and we drove for dollars. We drove past about 10,000 houses over the course of 3-4 days and built a list of 1,300 houses that we would mail. We started sending out direct mail, and getting calls. After a lot of denials, and about 10 offers, we finally got a deal under contract. After marketing the deal on BP, craigslist, and the local BP meetup, we found a buyer and closed the deal. It ended up yielding us a $6500 check that we're going to reinvest in our next 6 months of mailing, and any future wholesales, rehabs or new builds we find through our next rounds of mail, will be able to double or triple our mailing campaign to grow our business. Things changed for me when I started going to BP/REI meetups, and meeting people that were doing deals. You'll find someone who is similar to you, but further along. Ask them what you should do, and eventually you'll find your path. It really is that simple, go to meetups, get coffee with people, and you will figure it out and find an option that works for you.

Taking action is the most important thing. 75% of people I meet at meetups have never done, and will never do a deal. Don't be that person. It doesn't matter where you start, it just matters that you start.

Buy & Hold SFR that cashflows. Tons of new construction and rehabs going on around it, and the property is in good condition currently. It's a 3/1 and currently occupied and rented at $925, with room to push the rent to $1,000. Cash offers only, as this is a wholesale deal. Send me a message if interested.

Added you both @Curtis Rouse Jr @Simmy Ahluwalia

@Curtis Rouse Jr Sounds good, what's your email? I'll email you if I find a deal like that.

@Ryan Horne added you, thanks.

@Curtis Rouse Jr I haven't yet, but there's a decent chance some of the sellers I work with may also own apartments and be looking to sell them

@Brandon Davis Will do

@Brandon Davis I do have a duplex right now in west end that would fit what you're looking for, but since these are wholesale deals, they have to be bought with cash (could potentially use a hard money loan to buy it in cash and then refi with your lender/bank into a traditional mortgage) I'm not sure if VA/FHA loans would work on these, I'd have to ask the law firm we close deals with if that's an option or not.

Added you all