All Forum Posts by: William Brown

Which college and town?

Elizabeth Campanella I grew up and lived in Purcellville for the last 18 years, good luck flipping or renting, lol. Try crossing into Clarke County, numbers seem to start acting nicer. Of course not as much demand, but depending on your strategy you could get a 1-1.5% property. I’ve got one property that was trying to wholesale about a month ago, but had to back out of contract because no buyers wanted to touch it(has about 1000 unpermitted square footage the owner won’t verify with the county Let me know if interested. Purchase price around 140, rehab: 110(including a well and septic) and comps around 310-320. Not a great deal, but off market and spent a lot of time with seller

Looks great! Can’t wait to see the final numbers

An hour and a half for me, anyone leaving or live in the Williamsburg area? Might start a small satellite one here and can coordinate meetups between those groups ever month or so

@John Thedford @Jay Hinrichs @Russell Brazil

Appreciate the honest words. I wouldn't come here literally asking people to shoot bullets in my strategy to listen to something I want to hear or know already. I guess it comes down to options:

18 years old, living on campus for the next couple years, tuition, room and board covered (thankfully) by my parents. I've got time (for really the next 4 years), and I want to use it to learn the industry inside and out and make some capital, instead of playing video games or drinking every night. 

Real estate is also my end goal, I love the game aspect of it and am an entrepreneur at heart. (also trying to start 2 other small automated businesses here at school)

Not looking to earn the world right now, just learn and make enough money to possibly put a downpayment on a rental here in the next 1-2 years. Its just about going out and doing it and failing wisely. 

Everything you all have said is absolutely correct, especially about getting my license. I'm going to get right on that. 

Kicking myself out of the nest, time to see if I can fly. If I crash, i'll get up and do it again but with more expertise and confidence. 

@John Thedford

Especially in the beginning I plan on being completely honest with all parties involved. This means letting sellers know that I have no ability or intention to close, just simply looking to find a solution for them (they need to get out of their home for some reason) and for an investor (who needs work and rehabs and flips properties to make his living). In my experience thus far, sellers are open to that. Not all will be, I know. But trying to come from a place of trust and telling them exactly what I'm doing and making on the deal from the start should help put them at ease. We are going out and looking for people who have a serious problem with their property (oncoming forclosure, mortagage they can't afford, etc) and finding real solutions, and not being shady in the meantime. There are too many swindlers out there. @Jay Hinrichs mentioned above about setting yourself apart, and I think being destructively honest and putting yourself out there to help solve problems, even if you don't make a penny on it could be part of that.

Jay Hinrichs I have always valued your wisdom and experience, especially because you started when you were 18 and have seen it all. With that being said you are 100% correct. I need to get my license, not only for the practical and legal benefits but also as credibility and validation to a seller. If I can show that I’m a licensed agent they might trust this kid hammering cold calls from his dorm room a bit more. Maybe. Along with access to MLS, so I can finally leave behind the dumpsters of Zillow, trulia, etc, could change my game. My plan going forward is probably doing one or two runs of cold calling, then whether I find success or not I get my license. Just after over a year of educating myself, I need to get out and start making mistakes then circle back and correct my course.

John Thedford Thanks for your questions. For 1, (and all other issues), every investor I’ve come across so far (not to say all of them will) have the same first impression as you all. “Holy **** he’s 18 and hustling, maybe I’ll give cut him a break this one time” I’m not out here looking for the world (yet), just looking to learn. What I mean by this is that my goals starting off are not to focus on profit, but to focus on building connections and learning how reality works in the industry. So I might take a 1000 assignment fee or smaller, and just let the investor close on the property and put the earnest money down. Really out here to learn and fail as many times as I can so once I get into the big game I’m already performing and know the thorns to look out for. For 2), I’ve done extensive research on BP and talking with attorneys who do or handle REI and have found that at least in my area (Hampton roads, Virginia) it is legal. **legal as long as I put myself as the entity buying the property, which as stated above I might completely bypass with just going for a fee from the investor for the first couple and not being part of the deal legally at all. What are your thoughts on this approach?

Nate Beucler Thank you. There’s no perfect plan, thank you for that bullet. I’d rather patch it up now then take a cannon from the SEC later. I even looked, it could be up to 40k in some states. Will make sure to speak with skiptracer to make a note on those with a DNC preference. If they can’t, I have the choice to either screen them myself or just take the risk. If I go with the latter and have a pissed off homeowner with that debt to pay, do you know how I would and (if) I would owe the entire debt? Let’s say I have 5k to my name, what is the next step from there? Thanks!!

About to pull the trigger.

After a year of education, dabbling, and talking with hundreds of investors, wanna be investors, and sellers, I'm taking massive (imperfect) action. I'm a college student with a couple grand.

My plan is to use listsource to generate 1063 names/properties of 39-100% equity, age 50-99, and built before 1987. Then we ship those names over to REIskip.com to obtain phone numbers of the individual and relatives at $0.24 per name. We also plan on purchasing a multiple phone-dialer (calls three numbers at once and first to pick up I get connected to then calls others right back) to pore through the names. We plan on doing this multiple times, and calling the sellers once a week until we get deals, or a motivated seller. 

List: $214

Skiptrace: $255

Mojodialer: $150 per month

Total: $619

****will most likely do this every month with new zip codes

If you have money, spend it. If you have time, use it. I plan on calling for 2-3 hours everyday.

Any suggestions on how to do it a different or better way?