Rob Young on January 29, 2016 5:24 am Marcus Maloney on November 25, 2016 5:39 pm April Johnson on December 4, 2016 3:22 pm West Coast Living - Yes It Really Is That Much Better! (337) RJD Well before the bubble increased home prices many investors bought rental property for the income and appreciation in value. A good friend of mine used a formula – 20% cash in – the rent must cash flow the payments plus a 12% return on the “cash in”. She died a wealthy woman. Of course she was ahead of the curve and enjoyed the sharp increase in home values…which is what an investor would hope for. But that formula gave her security and income even without any appreciation. The rental market is strong now and prices have come down. They are rare, but if you can find a property that meets that formula it would be a great investment. For me, I’ve been an IT guy for the past 20 years and 10 of those years, after the first 5 of doing various different specialties (including some server support), consisted of just Desktop computer support for a central IT department for a local government. To the point that I felt stuck. I was then hired by the agency I was supporting and after a year, my boss came to me asking if there was any way we could host an application he was purchasing (instead of paying the higher monthly cost to host it with the central IT department). This approach is how I and many other people started out in this business. When I first started out, I had subscribed to “Real Quest” which cost over $300 a month for Palm Beach County, Florida. I used to visit homeowners at their houses and talk to them about their foreclosure and how I could offer to help them. The most common scenario was a homeowner that wanted to avoid foreclosure and was willing to “walk away” from the property. My comment is.. Drawing Signs Excellent article, there was definitely something that I was not fully convinced about in the wholesaling process and it was about assigning a contract. Your article clarify things up big time for me. Assigning contracts not a good business model! … I get it! to the point that I’m changing my strategy to get started Real Estate. Sponsored Products are advertisements for products sold by merchants on Amazon.com. When you click on a Sponsored Product ad, you will be taken to an Amazon detail page where you can learn more about the product and purchase it. 5. Become A Property Manager Quite the opposite…. the contract was at one price but the end buyer will buy for another price…how would you go about getting the seller to terminate the first contract and aggree to the one Can you be a convicted felon and still get a real estate license in Florida? Sell I have found that it takes money to make money, and I was trying to encourage people not to be afraid of doing a crappy job that they hate for a time, if that crappy job can make their dreams (like investing full time) a reality, in a much more clean and simple way. linkedin Marcus enjoyed your article. Your responses to questions were with patience and pure honesty. Thank you!Looked forward to reading more of your postings. April 16, 2018 7 I’ve said it before and I’ll say it again: real estate investments are some of the best ways to achieve wealth and financial freedom. And if you’ve read my other posts, you know that there are quite a few ways to invest in real estate – I’ve mentioned everything from crowdfunding to syndications and funds. I did not say that wholesalers have to buy the house, however other BP wholesalers have said that wholesalers need to be prepared in case they do need to buy the house themselves in order to fulfill the contract to the seller. This situation never happens to an agent. MOST RECENT ARTICLES Great article Brandon. I’ve been waiting on this one. You’re right about wholesaling. There are so many things that you have to know that the process can be overwhelming. I’m looking to start wholesaling for cash to fund MF rentals. I may be many months away from getting started. Thanks for breaking this topic down in a simple way. Looking forward to more great content. Business name and logo 9 COMMENTS All Homes Amber Hurdle says 5.0 out of 5 starsAwesome bokk Mansion Global I don’t understand why buying the property first then reselling later would somehow hide the price of your purchase. Just about every real estate website and the MLS make it very easy to see the sale price history of the property. Seems like a flawed argument to me. How to Transition From Single-Family to Multifamily Investing How Much Money to Invest In Real Estate Eddie on January 28, 2016 10:49 am FinancialSamurai.com was started in 2009 and is one of the most trusted personal finance sites on the internet with over 1 million organic pageviews a month and growing. Financial Samurai has been featured in leading publications such as The Wall Street Journal, Bloomberg, and The LA Times.  In New Orleans, Bill and GiGi Burk of Burk Realty use a computer-based analysis program he developed to determine the highest cost-per-square-foot price the market will bear. He then compares that cost to the actual estimates for buying land and completing construction and determines if he can sell the property for a high enough return (15 percent to 25 percent or more) to justify the risk. Equally tough is paperwork and patience needed to obtain permits and local zoning approvals. Downtimes in the market are a great time to execute a develop-and-sell strategy, says Bill Burk. “We’ll be ready when the market comes back.” Have a deal somewhere on this map? Let me know! 🙂 Find JobsCompany ReviewsFind SalariesFind ResumesEmployers / Post Job I hesitate on doing it because of the fact that I need to also have money for marketing……or don’t I? May 6, 2018 These People Set Financial New Year’s Resolutions. Here’s How They’re Doing Kelly Anne Smith Get Started Right Now! Real Estate Investing – AirBNB? HELOC? OPM? WOW! – Q&A #11 Free Guides Fantastic website; I wish I found it 10 years ago. The comments in this section were too long to read everything so I have a question: I am unemployed for 2 years and used to work in the IT industry for 20 years. Suffice it to say that my resume is all computer related. I want to get a job like you mentioned to learn an aspect of REI but do you know of any job I can get without any experience at all in real estate and no certs? When you participate in crowdfunded real estate investing, you are part of a group of people who pool their money with other investors, and then lend or invest that money with experienced rental real estate investment property owners. ​✔​ Built in Mail Manager & Marketing Templates 45.) Bulk REO’s – Often times, banks will group together large packages of REOs and sell them in a package to large investment firms or wealthy investors. Last Updated on March 15, 2018 Alexa Mason Leave a Comment 612-808-6767 Investors Imagine how nice it would be if you had a “wholesaling machine” where all you worried about was your acquisitions funnel and having some good, solid buyers.  No need to worry about financing, rehabbing, retail selling, or any of the other things that make up the entire “house flipping machine”. 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