All Forum Posts by: Walter Roby jr

@Jennifer A. Culver City REIA meets on Tuesdays. A lot of wholesalers go there.

Cold Call

Not quite to sure on the tax implications that would occur when you sell but I would definitely reach out to some Tax and 1031 experts prior to making any decisions. I would sell and park that equity into more cashflow producing assets like you have pointed out. Also you could take advantage of low interest rates and stretch some debt on the duplexes for the long term.

In any case I would start meeting with people ASAP.

Nice job!

You should include Property Management in your calculation because your time is worth something. Additionally when you plan to scale up or life happens and you can't manage, you want to be positioned so that you can afford Property Management and still have a cash flow positive investment. Are the rents actuals or projected? Verified by the rent roll? Be sure to use actuals.

I would probably cross reference the expenses with other property owners in the area. If those items all check out then I would go for it. Looks like a good find though 

Cheers

I think wholesaling works in any market. Start by fixing your credit (getting rid of all unsecured debt that is paying high interest), keep learning & reading, and possibly find a side hustle to accelerate your progress. Obtaining your RE license would help tremendously.

Cold Call, Drive for Dollars then door knock. To cold call pull up craigslist and call every number trying to rent or sell anything of real value.

Go after them. If they are not under contract with a Real Estate Broker then its fair game.

Have you considered shifting your money to invest in cashflow assets? There are many tax advantages in owning rentals vs flipping where you get taxed at the highest level. If you do consider that route, keeping your job will help you tremendously in obtaining bank financing. Once you have a few rentals producing income to replace your salary then you should leave and flip fulltime or whatever. That's just my $.02 though.

Yellowletters.com is a good starting point and simple enough. Use click2mail.com for EDDM (Every Door Direct Mail) although cheaper per unit cost, you can't select certain criteria only an area. Also Gobigyellowletter.com sends you samples.