All Forum Posts by: Victoria Winters

Hi Dave,

Thank you for posting on BP.  It is always a pleasure to respond to a member of the armed forces, and I thank you for your service to our country.

You have outlined your strategy quite clearly to use a VA loan for your next purchase and then to take the cash you have to buy another investment. You understand the nature of your work keeps you on the move and that is an asset. Therefore, make a decision to invest in areas that you are most familiar and want to spend some of your time and money.

No one can advise you about where to invest if you are not interested in the areas proposed.  You get to choose among our 50 states, plus the rest of the world is open to you.  Just as you clearly outlined the monetary portion of your plan, you can decide on the best location.

A lot of times we discover the things we want to do from observation and interaction with other people.  It is wonderful  of you to express the admiration and confidence you feel for your real estate agent in a public forum.  Perhaps it is a good idea to let your agent know how you feel and ask the agent your question.  

Relationships thrive and survive on mutual trust and respect.  Also, keep in mind that giving is the first order to receiving something you want.  Decide what you want to offer your agent for his help.  Agents provide a lot of services and expect to be rewarded for their service.  This is true with everyone.  Certainly you do not go to work with the expectation of not receiving a pay check.  Although money may come to mind, it is not always the medium of exchange necessary for every situation.  Discuss openly with your agent about your plans and what you bring to the table.  In this way, you both can work toward a common goal.

Good fortune to you!

@Krystle Padilla  Greetings Krystle,

Thank you for your reply.  In response to your question, "How do you know if you've found a good real estate agent?"  From your own words, you mentioned that you think you've found one in a town that you're looking to invest in but it is difficult to tell because of the long distance.  Also, you said he answers your questions and he is honest and helpful with his answers.  He also sends you automated emails regularly that you think is something good. 

From these words, it appears you have a good agent.  The close friend that was unfortunate enough to align with an agent not in harmony with their wishes is their opinion and experience.  Respectfully, I ask you, how is that relevant to what you are currently experiencing with your agent?  

We tend to get what we expect and if you are expecting more of the positive interaction with your current agent, then you will experience more of the same.  Take the opinions of others in the spirit for which they are intended.  The good news is that you get to choose what you want to do regardless of the opinions expressed by other people.

I am looking forward to hearing the good news about your new investment.  I hope this is helpful to you.

@Krystle Padilla 

Welcome to Bigger Pockets!  Your post was delightful and honest, so thanks for posting.  Thank you for your military service and welcome back to civilian life.  It is wonderful that you are looking to make your first real estate investment (your home).  Ownership is great and everyone wishes you success with your first purchase.

Use an agent for your purchase. Working with a good agent will help you tremendously through the process. When looking for an agent, choose one that you both like and who is familiar with the area you choose for your new home. All agents have access to the MLS and can sell any listed home. However in working with a local agent, they can give you information beyond the listing information. You may want to know about community activities, shopping areas, schools and other things known to the locals.

 It is important to pick one agent and to work with them exclusively. When you find someone who understands what you want, it is easier for both parties to work together.  Real estate is primarily a relationship business, so once you establish a working relationship with an agent you want to work with, stick with them.  You'll find that loyalty to an agent will save you time, energy and frustration.  Let the agent deliver to you the information you need and help you with your research. 

Any idea can be worked on until it is clear and ready to implement.  Deal analysis services exist in various forms from mentoring, partnerships and analytical tools.  Where there is a need for a service or product, rest assured someone has a solution.  If you have something in mind, work on it and bring it to market.  Although many will tell you otherwise, there is always room for improvement to any product and no one has cornered the market on imagination.

@Michelle Elsaid Thanks for your post.  It is always a pleasure to read about goals and ideas from new investors.  Study and saving money is excellent and will get you to where you want to go.  Obtaining your real estate license is a good idea and @Chris Romany pointed out some excellent reasons.

Doing what you want to do is the best guide for moving forward on your ideas.  As with all things, there will be bumps along the way.  The good news is that "bumps"can propel you forward as long as you see them as learning opportunities.  Best wishes on your new ventures.

@Jay Whitfield

In response to your posted questions:  "Why would I get involved with a deal and you don't have the money to pay for the property if the contract expires? And, "Is there anyone making money from wholesaling, who are getting houses under contract with no money out of pocket?

Your first question I answer from the point of view of a distressed seller. As a seller in need of quick cash, it is acceptable to work with a person who says they can deliver the cash for the property within a defined time period.  Whether or not that cash is to come directly from the wholesaler or through the wholesaler is a choice the seller can make based on facts presented by the wholesaler.  Whether the wholesaler has cash in hand to close the deal is not the criteria for the seller to use in determining to work with a wholesaler. Rather, the ability of the wholesaler to perform as per agreed in writing is the basis upon which a decision can be made.  It is the mutual agreement, in writing, that clearly states the terms of any eventual  outcome that is the primary concern of both parties.

Question 2.  In short, the answer is no. There are absolutely zero wholesalers who get properties under contract without spending money.  To prospect and find sellers requires the expenditure of both time and money. The amount of time and money necessary and available to spend is completely under the control of the wholesaler. Under no circumstances is the actual amount of time and money a barrier to the person acting in their chosen line of business. 

@Sasha Friedman

The value of your time and knowledge is a marketable product. Under the scenario described in your initial post, it is evident that the message of what you have to offer is not reaching your intended audience and/or is not presented in such a way as to attract your ideal client.  Please feel free to message me if you would like to discuss this further. 

@Sasha Friedman 

Hi Sasha.  It is great that you posted your situation here on BP.  Your goal to get involved in real estate is a good one.  Real estate investing can be done effectively with leverage of other peoples's money, but in order to attract the players, you must bring something to the table also.  Investment requires an investor to first give in order to receive a return. It is not logical to ask other people to put their money into a deal when you are not first contributing some of your own money to your own deal. 

Many people new to investing or thinking of getting started believe there is a way to get in for "Free". There are no free rides in life but there are easier rides than others. Earning money is not difficult. it is through earning money that buys financial freedom.  In other words, put some of your own money to work for you.  

@Jane Dunn

Jane, you are a woman with a vision and a plan. Go forward as you stand on the rock of experience you built in 55 years.  You are in a great position to use your life knowledge and to keep building from where you are today.  The truth is we grow wiser as we mature and your best years are still ahead.  The day we stop learning, acting on our dreams and reaching goals is the time of true aging.