All Forum Posts by: Jimmy C.

Never take the sellers word for it. Ever

Yeah thanks for the replay J. I thought some of the claims he was making were not true. Of course he says that they are, and says you can go look them up and see what he is saying is true. I guess he is banking on people not actually doing that. So thanks for the clarification on that.

And Bryan, I sure hope you are right. I dont want to get into the RE game this deep only to have to live off the grid later.

I am still shopping for a solar powered generator though, and other things that can be used even if the sky doesent fall.

Is it true that it takes 77% of Federal Tax receipts to cover the interest on our nations debt? Is it true that they have to use Medicare and Social Security money to help cover those interest payments?

I just listened to some FACTS that would indicate to me that the crisis is nowhere near over, and in fact is just beginning. This trends analyst discovered that most of the major economic problems in the recent past have ended up back at the US Treasury as they paper over everything with bail out money. Anyway they break down a lot of big numbers to make it simple for anyone to see that you simply cannot tax your way out of the amount of debt that we have created already, not to mention the debts we continue to rack up.

The "doom and gloomers" say that those riots and austerity measures you see in other countries are most certainly going to make their way back to this country.

Once the dollar loses its status as the worlds reserve currency, we will be F*****. Since that will be when the printing press is no longer a solution.

Every commodity is inflating right now, as it should when you print money to cover just the interest on your debt.

My name is Jim, and I am not applying.

However I will try and help. A few minutes of research has revealed a few names and phone numbers of wholesalers (and potential wholesalers) in that area. I even stumbled across a smokin hot deal while lookin. If you would care to contact me offline I will kindly email you a list of people to contact in the area, as I cant put their names and numbers in this post.

Agree with Joel and Brad

Cant you just buy businesses right off Loopnet?

#1: Skippin it...

#2: Study proactive ways to build your buyers list. Networking - Courthouse auctions and REIA meetings are swarming with cash buyers and people cashed up. Also, call every We Buy Houses and Bandit Sign, newspaper and online ad you see for your area. Talk to people and make friends!!

But you dont have to wait to get a property under contract either. If its a deal you can sell it on the MLS, Craigslist, and every other method imaginable. This will get people coming to you for the deal, and add buyers to your list.

#3: I would imagine that transactional lenders do not care if the contract is in your name, or the name of a corporation. But I have never used one, only created them from people I knew already.

#4: You will meet many people to learn from if you follow my advice in step #2

More tips:

Complete your profile on BP

Replace entertainment with reading these forums as far back as you can go.

Create a to do list and an action plan to get started. Update your to do list every evening, rinse and repeat.

Good luck, hope I helped some!

Hit me up when you get one under. I want to help sell! ;-)

J is right. Tell him you will sign them when they are property specific.

And I'm cheap, just a captain n coke will do

Mine was pretty simple. We were sending direct mail to pre-foreclosures, and I was following up with phone calls on leads we could get numbers for.

My first wholesale deal was from a cold call. It was an older lady who owed very little, but couldn't afford to catch up. It was in Daytona (other side of the state) so I sent my partner to do a walk through.

Once we had the signed contract I paid for one ad in the main newspaper in Daytona. The phone rang off the hook for the first few days. Out of the 30+ people who called we had a buyer.

Yes. Your end buyer should and will request a copy of your p&s with the seller.