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Hi, My name is Susan and
I am a member of a National RE group in Greenville SC, and have observed many speakers, so I now want to take action and get serious and learn all I can about notes. I have not bought or sold anything yet, but I know I do not want to be a landlord. I listened to Jack last night and I hardly could process all that I heard. I was given a 3 mos free membership from a friend, and now I am contemplating going tothe Tampa seminar in Feb. I would like to know if any female is going and would like to share a room with me. I was planning on flying in on the 5th and am finding out thatSouthWest has some pretty good rates. My e-mail is [email protected] Thanks and this site is amazing!Susan
ELF = easy, lucrative and fun. It is a David Tilney thing. He love to manage (especially Sandwich Lease) because it fits the ELF formula.
You should definitely go to the tampa seminar–the first time I heard Jack, my head exploded. Go, learn a little (since he talks fast and deep), get confused a lot, and implement immediately. As time goes by, you will understand more and more of what he is talking about. He is extremely knowledgeable and has forgotten more than most of us will ever know. Best $495 you will spend in your life.
Hi Susan,
Illl be at the Tampa event. I can help you find a roommate there, or you are welcome to share my room or I can help yo ufind a roommate in CA if you decide to go to that event
just give me a call at 972-496-6032
Jackie
Hi, this is Kelly Caraway. My husband and I have bought, rehabbed & sold 3 properties so far, and would like to learn how/by which means to step it up, as we have only been able to do 1 rehab a year (they have been extensive). A friend and I began a real estate investors networking club in our hometown and a long-time local investor turned me onto Jack Miller. I made my first affiliate money by getting 2 others in the club to sign up for the year special. A lot of info – great! I’ll keep making my way around the site & stumble onto things!
Kelly
Rehabbing houses is only one side of the business. You can accomplish a WHOLE LOT MORE “faster” if you buy houses that don’t need much work — especially when you buy subject to or with seller financing.
When I buy houses, if it needs much more than paint and carpet I either pass or flip it. I want to get the house and get it rented as fast as i can. Evry day I’m getting something fixed up it is costing me money.
Jackie
My name is Georgia Emmett. I went to many of Jack’s seminars in the 80’s and was an active investor. I moved from Houston to Florida. I am now a real estate agent. My husband become interested in RE investing so I looked up Jack Miller again and was so happy he was still active. He has so much knowledge to impart. I’m glad to be part of this.
Hello everyone,
My name is Chad Carson. I am a full time Real Estate Investor in Clemson, SC – the northwest corner of the state near Greenville.I’ve read every book of Jack’s that I could get my hands on, and I highlight and take notes from his newsletter each month. I love studying and using what he teaches.
I have been actively investing for 6 years (started when I left college), and I’m taking my first mini-retirement this August with my wife. We’re going to South America and New Zealand for 4 months. Part of the inspiration for this was reading stories of Jack’s trip around the U.S. once he got his properties cashflowing. Real Estate investing done correctly can be awesome. Thanks Jack.
I just joined CREwealth and I look forward to learning from and sharing ideas with like-minded people.
See you on the forum,
Chad Carson
My name is Mark Perlik. I’m from Santa Cruz, CA. I found out about Jack from the San Jose REIA group and I’m excited to have access to the wealth of knowledge on the Depot! The first course on real estate investing I bought was on wholesaling, about ten months ago.
Since then, I’ve been busy studying for my CA Acupuncture licensing exam, but planning on getting more into Real Estate Investing once I’ve accomplished that goal. Well, my exam was on 1/21, and here I am, ready to learn!
I’m most interested in learning wholesaling right now, as I could use some quick cash to get out of credit card debt (some from an expensive RE coaching course which hasn’t really paid off, but has helped me get more focused). My biggest question right now is what area to focus on doing wholesale deals. Where I live, in Santa Cruz, the average house price is still around 600k. I’m not sure, but wouldn’t it be smarter to start with lower priced houses, say, around 100k? If so, where? The low end in Sacramento, CA is around 120k….otherwise, it’s out of state, where I can’t really see ’em. I’d love some advice on this matter….
Mark
The typical wholesale deal I do will RETAILfor less than the median — about 20% less.
And I’m buying it at 50% below retail or better.So it is in a much cheaper neighborhood
not the war zone — but close
You just will not find many wholesale deals in nice neighborhoods. You’ll have to go slumming to do a consistent wholesale business.
Jackie
You sure don’t want to find houses first — you should like up buyers first – and most will be landlords.
So, if you find buyers for your wholesale deals — then yes it is a good time.
If you can’t find buyers, then you know now to spend time looking for houses.
See the Real Estate Profit Secrets audio seminar in THE DEPOT — I go in to great detail about who you should find buyers first and how to do it quickly.
Let us know what you find out
Jackie
Welcome to the Jack Miller family!
You’re at the right place now.
Mark, your ideal wholesale property is one in poor condition. You won’t find a lot of those in the median price range so you’ll need to look in other areas.
Be careful not to combine techniques and strategies that don’t mix well.. I’m going to write a real estate lesson about that on Friday.
For example — knocking on doors is a great startegy to use for buying with seller financing. You are in safe neighborhoods where you don’t mind walking up and down the street.
You won’t find any wholesale deals there most likely — or it would rarely happen.
It’s like trying to fit a square peg in to a round hole.
But knocking on doors in a wholesale type of neighborhood is not a good idea. It may not be safe.
It’s better to use direct marketing or signs to do wholesale deals.HI Kevin
An option is the most powerful and risk free took you can use.
It is basically a purchase agreement with a contingency clause.
Here’s an example:
You write a contract to purchase a property for $50,000 subject to you finding financing within 30 days.
or
contract to buy subject to the mortgage subject to you finding a tenant before you close
or
contract to buy for $100,000 subject to you finding a buyer who will pay you $110,000 before you close — and you have 3 months to market the property to find the $110k buyer
get the idea?
Mark
There’s not really a lesson anywhere on the site about combining stratageis that don’t work together. It’s one of those things that time will teach you.
For example – you can’t do a wholesale deal on a house that was bougth a few years ago. There is no equity
Wholesale deals are properties that can be bought WAY below market ( usually less than 50%) then resold to an investor for about 60% of market value
You can’t do a subject to deal if there is no mortgage —
But you can buy with seller financing when there is no mortgage
you can also buy with seller financing that wraps the underlying loan
You cannot sell with a lease option if you only have a lease or only have an option
see what I mean?
If you have the Real Estate Profits on Steroids course, there are a lot of examples of what will and will not qualify as a wholesale deal.
I hope this helps
Jackie
jackie
Thanks Jackie, this info definitely helps. I’ve been studying the Road to Riches seminar, and plan on continuing with the other recommended seminars for newbies on CF Depot. There’s ALOT of information there.
I’ve heard of people hiring an experienced mentor to come to their area and help them get their wholesaling business started. Is this something you recommend? I think it would be helpful, especially since I’m a hands on learner, so having someone actually show me something is more effective than reading about it and then trying to apply it from there. I’d rather start doing deals without having to spend any more money on coaching/mentors, but on the other hand, if that’s what I need to do in order to get started and do my first deal, then maybe I should….
Mark
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