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12 January 2025 | 8 replies
Quote from @Adam Macias: Wholesaling as it is today will be a thing of the past.It’ll truly be strange to even hear people and gurus trying to make big money off it.The more people try wholesaling but then end up not having an end buyer or cancelling contracts or trying weird things like novations, the more all of real estate will be regulated and cause requirements like licensing to be able to transact more than just your personal resident purchase.Which I don't know why hasn't happened sooner.Here's all the states (in red or yellow) requiring a license to wholesale or at least have started the process:Credit: REITipsterI think licensing and regulation is a beautiful thing that should happen if you plan to be an wholesaler and do more than one deal... which is going to be the case for anyone taking this business seriously.Or even it being regulated to need a real estate agent to do more than one deal outside of buying a personal residence.I've had plenty of failed attempts with agents in pursuit of wholesale deals and I know exactly why, it's not because the agent couldn't find me deals, it's just not practical to think there's opportunity for the numbers a wholesaler needs to make a profit on top of everyone else needing to these days.Because the only sellers who truly can sell at a deep enough discount are usually those who ran out of time and just didn't do something sooner with their situation.I know many coaches and gurus will disagree with me but there’s no regulations on youtube gurus and what they teach either.If we look at the current state of the market in hot cities, the availability of online resources to the average homeowner, how many deals can you possibly believe are available at 70% of ARV?
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18 January 2025 | 36 replies
Victor is there a way where you are not made the bad person??
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2 February 2025 | 9 replies
I will caution you that if they pull something like this and you immediately start offering any concessions as is repeatedly addressed above - this type of personality will make note of that and the threats will be ongoing for the duration of their tenancy.
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16 January 2025 | 10 replies
Quote from @Sara Valentine: I have rented my personal home as a fully furnished/lots of amenities 3 month rental jan, feb, and march the past 3 years.
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14 January 2025 | 3 replies
This is the fork where I'm not sure if I'd be good to get some CRE exp and invest in learning about how to review deals for the next 2-3 years, or focus on generating revenue for investment purposes and watch how things are done as a LP.My personality more aligns with networking, reaching out to people, connecting, navigating difficult situations and finding solutions that work.
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16 January 2025 | 6 replies
You will have to pay higher personal income tax rate, versus waitingtill after one year for lower Capital gain tax rates.
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13 January 2025 | 7 replies
Buy it personally, and rent it full time to my C-corp?
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17 January 2025 | 22 replies
The GC is a business person who doesn't care about your ARV, LTV, or your budget.
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16 January 2025 | 0 replies
The owner was motivated due to personal circumstances and wanted to avoid the hassle of listing the property publicly.
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13 January 2025 | 15 replies
By year 5 we had around 55 people.We did hire a marketing person but frankly marketing wasn't our strong suit.