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18 January 2025 | 15 replies
Best bet would be disclose in your listing & disclose again in your welcome message when they book.
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13 January 2025 | 1 reply
My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.
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31 January 2025 | 22 replies
I was just reading Mark's book "The Tax & Legal Playbook" this morning and it specifically had a "critical warning" (page 31&32 in Chapter 3).
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2 January 2025 | 0 replies
I have purchased the following books:ABCs of Buying Rental Property The ABCs of Property Management The ABCs of Real Estate Investing The Advanced Guide to Real Estate InvestingThe Book on Investing in Real Estate with No (and Low) Money DownWhat order do you recommend reading them in?
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17 January 2025 | 3 replies
Just know that it is a "no days off" kind of business and very mechanical.I would suggest documenting your process via video so that eventually you can bring people on to replace the different hats you will be wearing.Keep in mind of these 5 components of any wholesale business.lead generation, deal sourcing, underwriting, marketing, transaction coordination.
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17 January 2025 | 8 replies
I’ve done my research with (reading books, podcasts, etc) but still feel like I’m not doing enough.
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22 January 2025 | 10 replies
Read Averys book and past posts in this forum.
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26 January 2025 | 12 replies
@Kris L.I would connect with @Josh Green, I would not be surprised if he dealt with a transaction in your neighborhood and he is a local expert on all fronts.
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13 January 2025 | 0 replies
She had no connection to the property and no personal stake in the transaction.
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15 January 2025 | 49 replies
My bank said no problems on their end, and I was never able to reconnect my bank for downloading transactions.