Hello everyone, my name is Richard and I am trying to learn as much as possible about wholesaling real-estate so i can pay my school bill.
I understand almost everything about how it works, I have read all of DG's book and I have surfed this forum many hours of the day consuming all the information I can read.
The only problem I have is that I am curious about the paper work. I know that Dean posts documents in the side bar, i would like to know which one I need to use. My understanding is to use the "Agreement to Purchase" and "Assignment of Contract" then I find a buyer. Then I hand it over to my attorney. And also I would like to know if it is possible to wholesale in New York and if it is can i use the forms that Dean has provided. I don't have a real estate license, would i need one?
Looking forward to your answers.
Thank you for reading
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This is just my opinion, but the way I like to think of it is this: If you can FSBO your own house in any state, you can wholesale just about anywhere, unless it says so by law. But, in states like Oregon, I'm sure you can use transactional funding or a PML, to help you sell it to the end buyer. I hear this works well for bank owned reo's, and they will charge fees to do this but if helps you get a deal done, I say go for it.
I live in New York, Brooklyn To be exact and i am also starting up my self to pay school Bills and fund other ideas.
I am wondering what subject are you studying and what degree are you pursuing.
My degree I'm am pursuing is in business. post your reply.
Hey, I attend hofstra university in long island and ime studying Actuarial Science.
The bill is way too much but i love the school and i think its an amazing experience.
Its great that youre already thinking about ways to make money even before you graduate. i see so many kid that dont care and act like they are still in high school.
thanks for the advice.
Just curious, I am 20 years old and i was wondering what age you started and what successes have you as a young guy had in this real estate game.
Thanks, always appreciated.
As of now i have not done a single deal. The reason 1. when I first started I was looking for a seller not a buyer. 2. I didn't have a power team ready. 3. I wasn't ready.
Since you live in New York Are you planing on using Yard signs/ bandit signs?
Also i am the same age as you.
I'm 29 ~ does that count? lol
Everybody started out at an age at some point. If you check out the Ebook I put on one of the posts by Wendy Patton, she talks about how a 14 y/o started in RE, doing Lease options with his dad's help. According to Flip Crusher "Eric B.", it's so easy a 6 y/o can wholesale ~ anyone can, no matter what the age. I've been a part of the dg family since December 2010, and I haven't completed a 1st deal yet. Right now I'm a sponge, soaking all the info I can get like the rest of dg'ers out there.
If you have a great deal out there, the buyer(s) will come. Yes, it helps to have that power team and they are important, but you won't need them all each time, depending on the different ways to close a deal there are.
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Since you live in New York Are you planing on using Yard signs/ bandit signs?
Also i am the same age as you.
What does PML stand for...
SMD Buy Sell Homes
Twitter / Facebook
Well that is true everybody does start at some point. well recently i just met a really good real estate agent for my power team. ordered the yard signs/ bandit sign and ran into trouble when i began place them, it turns out in NYC placing yard signs on public property is illegal or prohibited ether way your not supposed to place them
I ended up getting arrested (not for the signs I had a warrant for being in a public park with two dogs and my girlfriend with out a child I didn't go to court STUPID right) Yeah it not the most difficult thing to do but when one of the most important part is missing you have to adjust and adapt by creative. no problem right..??
Private Money Lender
I'm guessing SMD are your initials Shannan M. Davis?
AND I'm too old to know what the common meaning is and don't what to be told. LOL
Blessings & Favor,
Gena.
Follow my Blog: www.genahoriatis.com
I can do all things through Christ who strengthens me. Phil 4:13
Psalm 1:1-3
Yes I will be using bandit signs, but i love in residential queens. i think if i lived in brooklyn i would use lots of business card and flyer, because you can get ticketed for bandit signs. I think it would be better for you to start in queens.
Wonderful, I will be following you page to see your growth...... Everyone says the first deal is the hardest.
lol wow..... when things like that happen to me i just tell myself "another funny story to tell my kids when ime old"
But seriously Thats a small road bump.... PUSH FORWARD dont let it stop your success.