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Hi Jackie, My name is ____________I have been a Depot member since Nov 09. I need some advice please. I have never done a deal. I just burned my boats as they say. I just turned down a 42,000 a year J.O.B.( that’s a great paying job in my area) to pursue my dream of owning my own real estate business. Everybody that knows me thinks I’m crazy. I now have to make this real estate thing happen. I feel that I can make 50,000 a year in this business and probably even more. I’m really interested in a business model using Highest Bidder Sales as the main strategy. My concern is having enough buyers who can get financed. I will be doing business in a small population area maybe 50,000 max. Do you think i can make this a viable way to generate cash . My goal is to do one every 3 months at a profit of 12-15,000 dollars minimum.The median house price in my area is 175,000. I would then re invest my money into other cash flowing properties Lonnie Deals or mobile home rentals. I don’t need a lot of money to live every month. It takes me about 1200 a month to pay my bills and live well. I was going to wholesale deals or options but every investor I have talked to is to scared to buy because of the uncertainty of the market. That’s why I’m focusing on HBS because I’m thinking there will be more retail buyers, maybe I don’t know, that’s my concern. Thanks Jackie for any advice you can give. You and Cash Flow Depot Rock. The best real estate info on the net. I will be a member for life. My other goal is to get really good at Highest Bidder Sales or other real estate strategies so that you can interview me on a Tuesday night for the depot members. You can title the interview a good ole country boy turns down 42,000 JOB to do his real estate dream.Ha Ha Thanks Jackie keep up the great work.
you could make that kind of money with Highest Bidder Sales but there’s an easier way.
it’s too hard to find retail buyers ( those who will get a loan)Instead, find houses that you can buy subject to the mortgage or with seller financing, get an option
Then to marketing to sell the house with owner financing ( seller financing).you’ll have buyers come out of the woodwork who put up 3-10% down PLUS cash flow. plus a back end opportunity.
I just sold a house in 24 hours, got $10,000 down, $250 cash flow, plus an option for 1/2 of the upside.
To make it even better, offer a guaranteed buy back program. For buyers are are concerned that they will lose
their job and not be able to sell quickly, this solves that problem.We’ll be talking about these strategies on the conference call tonight at 7 central.
Also, if I were you, I’d take the $42,000 job and do real estate part time until you get a consistent deal flow.
Best of success
Jackie
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