[Rafael Vazquez]

Rafael Vazquez

Glad you are recovered and back in action Jackie. Take care.

Rafael

[Rafael Vazquez]

Rafael Vazquez

Not me…too early still
I think

[Rafael Vazquez]

Rafael Vazquez

Hi Avegail –

In a nutshell, when you use the HSA account to invest in real estate, any proceeds from the real estate investment go back to the HSA account so it will grow. There’s a lot more than that obviously but under the Premium Training section here in the website there’s also training that I am pretty sure touches on this subject.

You can also go to youtube and do a search for “IRA real estate HSA” or something like that and you will find some pretty good videos that will help you understand this concept better.

There are also many IRA companies out there that offer free webinars and training videos all the time that are very helpful. You don’t have to open an account with them or anything like that if you don’t want to but it is an easy way to at least get a better understanding.

Hope this helps.
Rafael

[Rafael Vazquez]

Rafael Vazquez

Thanks Dee!

Will take a look at these.

Rafael

[Rafael Vazquez]

Rafael Vazquez

Hi Ray,

I have a full-time job still so right now I am just trying to acquire a few additional buy and hold properties. Not looking to have a full blown RE business really, just to be able to make a decent living when I retire, hopefully within the next 5-10 years. Something to compensate my social security.

I’ve done a few wholesale deals as well as owner finance. Right now, mostly looking for leases and options, subject-to but if a wholesale deal happens, I’ll take it to. Rehabs never had and will stay away from them as Jackie suggests.

Good luck,
Rafael

[Rafael Vazquez]

Rafael Vazquez

Hi Jackie,

On Option #1 above, for how long would you get the option for? 2-3 months + an extension for example?

Also, is it a good idea to include in the option that the optionee (buyer) has the right to assign the contract/option and therefore to show the property for a quick sale or is that not necessary? Especially if you are not a licensed REA?

I have done this type of deal twice already but there’s always some people saying that it could be considered illegal because I am not an agent, blah, blah….

Thanks,
Rafael

[Rafael Vazquez]

Rafael Vazquez

Hi Ray,

Sorry to hear about your job. Sometimes things happen for the better. In any case, sounds like what you have in mind is to become a wholesaler basically. I think a great starting point would be the Real Estate Profits On Steroids book by Jackie Lange that you should be able to find here in the CFD site. It is a great one for starters and very easy to follow.

As for the lead generation site, I would recommend Investor Carrot and the reason is that they specialize in RE investing and the site comes ready to go with minimal setup up on your part. There’s others obviously that probably cost less that you can also explore. Then you can use your FB, Craigslist, etc marketing to drive traffic to your site.

Good luck!
Rafael

[Rafael Vazquez]

Rafael Vazquez

I’m not sure if the Commonwealth Letters can be found in a book. But looking around eBooks from JM that I had downloaded a couple of years ago from the CFD site, I ran across the Tactics & Strategies Manual which is a collection of a whole bunch of blog articles that JM wrote a few years before he left us. The short articles are very similar to the Commonwealth Letters. The manual is huge, like almost 300 pages and is very well put together. He was such a great writer and a genius.

Thx/Rafael

[Rafael Vazquez]

Rafael Vazquez

Thanks is excellent Jackie, congrats!

[Rafael Vazquez]

Rafael Vazquez

Pretty lit 🔥 lol

[Rafael Vazquez]

Rafael Vazquez

Thanks Jackie!

Rafael

[Rafael Vazquez]

Rafael Vazquez

Hi Jackie,

Thanks for the quick reply.

Taxes and insurance are not included in the in the note. Still have to find out if payments are current for sure.

On the alternative you mention using an option and then wholesaling it, do you think a rehabber will pay the 60-65K sale price?

Thx/Rafael

[Rafael Vazquez]

Rafael Vazquez

Come to find out even Zillow, Redfin, have land/lot sales info. Propstream even has some comps…that at least gives an idea..

[Rafael Vazquez]

Rafael Vazquez

Hi Mike,

Thanks for the additional details. I understand what you meant better now. That is a good return on your $8K especially since is it involves no work on your part.

I am curious to know, at what point during this type of transaction is the option bought? Is it at closing, after closing?

Thanks!
Rafael

[Rafael Vazquez]

Rafael Vazquez

Thanks for the great advise Mike and Don….appreciate it.

Mike, great point about planing on what to do with the funds…been thinking about that. Could you explain in some more detail what you mean when you say ” You can bring in a private investor to fund any shortfall via buying an option.” ?

Thanks in advance!
Rafael

[Rafael Vazquez]

Rafael Vazquez

Awesome information Dee … as always. Appreciate your posts thx!

Rafael

[Rafael Vazquez]

Rafael Vazquez

Thanks Jackie!

Now I can understand the $120K number. I can see myself including a reason why with my offers from now on, it can only help I would think.

Rafael

[Rafael Vazquez]

Rafael Vazquez

Hi Jackie,

Great advice as always and a good reminder.

I am struggling a bit understanding the seller accepting the offer “..because the buyer would never have property taxes at that price – never!”

Could you clarify:

Why would that make the seller accept the offer?

Why would the buyer not pay property taxes ever?

Thanks in advance!
Rafael

[Rafael Vazquez]

Rafael Vazquez

Thanks Don,

That’s what I was also thinking about this morning regarding Jack and the type of houses he was dealing with back then.

Rafael

[Rafael Vazquez]

Rafael Vazquez

I would love to attend the one in Tampa if it happens.

Rafael