younameitrealestate

Hello what are you trying to do?

???Getting into wholesaling for now, will branch out farther after I get more knowledgeable and experienced. I live in AZ, up in the White Mountains. What are you doing? You new to this?

I am working on some things but I started talking to Real Estate Agents and have some list to start with. I am into duplexes, or more, I go to a Real Estate Club here in Tucson called AZERIA. It's mother branch is in Phoenix. I am getting to meet with Lenders of all kinds and building relationships with some of them. I still haven't done my first deal, but working on it still. I was thinking about wholesaling too, let me know how that works for you. I have met with someone in the Club who buys it all and she said I should get into wholesaling too. We'll see but if I can get some duplexes to start with I would be very happy!
Thank you and God bless!
Is this your personal page, cause I was going to send my e-mail, but wasn't sure.
Nancyd

I am definitely trying to do wholesaling first. I have my eye on other RE investments as well, but I think one at a time is best. I am a member of the PHX AZREIA. I am an online member. Too far to make all the meetings - 3 1/2 hours away. Went to a party they had two weeks ago, though. Too many people for me-haha. I'm a small town girl. Anyway, I'm learning more all the time. I live up in the White Mountains-Show Low. Probably not as many opportunities here as in Tucson, but I'm going for it anyway. Haven't done my first deal, but I'm just now starting to call on homes. You can send your email. Would love to stay in touch. Happy Hunting!!!

Hello yes I am new to this wholesaleing but feel it can help me succeed never stop or give up

Hey There, Joseph Reesha here and sorry it took so long to get back to you. I'll keep it short. No, it will be long!

I have been living in Avondale since Thanksgiving Day of 2010, just passed my second resident B-Day. Was doing SFR's and then found an avenue to entrepreneur between Class-A apartment complexs and the key Exec's at the REITs (Real Estate Investment Trusts) which are a form of Hedge Funds. As I went down this path I backed off SFRs but will go that direction again with the profits from the service my new company provides (company #7). I will do SFTs here in Maricopa County, Oahu & Maui in the Hawaiian Islands, and no more then two (2) full remodels of older or what I would call "remodel ready" properties in SoCal/Huntington Beach, Ca. I do not want financial exposure in California. No more then owning two at once time, and will retail those/probably have them sold before they are finished if I basically stay in Old Town Hungtington Beach. That is an expensive proposition.

But in the SFR side, I will stick to wholesaling them at 30%-18/19% under FMV. I will not get into the Hold/Rental side of the business. If I did, then I will feel too much like I really am in the R/E Business and honestly, I never have taken that self identification on. I am a Real Estate Investor and a firm student of Dean's. However, where I differ is that I do NOT like the R/E Business at all. To me, R/E is just a means, a comodity for "Invetment and Investor" opportunities...And with the greater profits, I will immediately run off and buy Companies: Business Acquisition. This is something that is more thrilling for me personall, and each company is 100% a write off, which I will need/my corp will need in it's tax bracket. My business model for this has long been developed, tried & true.

I love our DG Family. I had backed off for these past 5 months pretty heavily, while I put these others parts of my new company in motion. I am hiring 5 people at $75K salaries and managing the company from "The Hub" like our best companies in the world are run: My new employess will be doing research and the like, basically cloning what I had been doing over 9 months, plus one of those is my full time Executive Assistant/Personal Assistant, who will travel with me this next year.

We will be hitting about 12-20 states/30+ cities come late winter, taking exec's to lunch or dinner as a meet & greet. We sell NOTHING.

The service puts two parties together for which I/we take a 3% fee against the final price negotiated between the owners of the properties and the REIT. It is a fast paced business. Deals start and go to escrow in hours, not days or weeks. Due Diligence on these type deals are completed in weeks and an average deal closes escrow in 3.5 weeks after I first put them together... I have cell numbers from executives that will walk off a golf course from the 12th hole on a Sunday! By Monday morning a deal is completed, escrow is opened and a team put on a company jet in 48 hours to do due dilligence. It is that simple and that fast. No financing involved, all cash all the time; a REIT will pay no limit (say $650-850,000) in pre payment penelties to clean up the Owners financing on building these properties.

Many REITS have their own Jet Charter Services because they often need multiple jets available to them on a moments notice. Not uncommon for them to be sitting on #2-9 billion in cash. One of my clients before I landed them closed escrow on $200 million in properties just the week before... in one week. That one manages $1 Trillion 400 Billion in assets! I asked the Executive Frist Vice President of Acquisition when was the last time a property they moved on "fell out" of escrow. He delay3ed for a couple of seconds to think his answer because it had been so long,"We lost one 4 years ago1; All these deal fly. And why not if I and partners find them in the states, cities and zip codes they are moving on to balance their portfolios...And the are ther FIRST ONE IN AMERICA to see the properties. When I go to make a call, I know it is already a done deal. The actual amount of time we would spend on a deal: From phone establishing the Property/Sellr to Phone Confernece Phone Call between he/she and the REIT/Buyer is Max 2 hours...Usually, Mostly under 1 Hour! I said it goes fast. 3% fee of a final price against $50 Million Sale is $1.5 Million. If I find it myself, I get the total. But most are shared with another who would find it (1.5% each) and half the time the Owner's Attorney who is rep is on retainer. When not, they get 1%. So, the worse case senario would be I make 1%. pr $500,000 for 1 hour or less work... We are projecting $38 Million in fees our first year, another $8 Million in the next 12-14 months from SFR investments in the more mid to high priced REO market in Maricopa County (8-12 per month by the time we really get slamming) and about $4 Million in profits from over in the Islands... That's $50 Million in the first year of business. Only have about a $500,000 overhead projected. I'd say we are what you call a Cash Cow.

I know this sounds amazing. It is. I am the first dedicated company in the 45+ year history of the Hedge Funds & REITs to form a company strictly dedicated to the REITs. One property/One Client and I stand still No shot-gunning like commerical brokers. No, I am not a broker. Just a DG Student.

That is what I am up to. Well, right now I am typing you and recuping from an emergengy Gallbladder surgery. Feeling stronger today. Got out of the hospital this past Friday afternoon and just taking it easy. I am typing you from the Avondale Library off of Avondale Ave right now.

Everything I am doing has come from the DG program. Never did more then the book itself. Yes, I have super experience as an entrepreneur and business man. I know myself and I know a bigger and brighter rainbow when i see one. But had this not come about, I would be enjoying doing SFRs with the many wonderful others I have met over these past 18 months - through this site and the Cash Flow Investment Group site I helped establish back in August of 2011 with others, like Mizra Ali in NYC and gosh, 6 others.

It is a fun journey. It is a ride of a lifetime I am on now... and after the first of the year I will be open to doing more networking. Eventually I will bring what I am doing to the group. Many know and are sitting and watching me work it out.

OK, that is what I am up to... That will teach you to ask! hahahaha How is it going with you?

Joseph Reesha with a Smile

Howdy, working another side of the greater R/E Industry right now; I am between Class-A apartment complex's and the REITs who buy them for all cash, and I/my new company takes a fee. We are not brokers, we find the properties before they are listed by commerical brokers and the REITs are the first to them in the country. No Shot-Gunning: One property, One REIT and we "stand still". They will buy all I can find, especially because of the relationships and knowing how weekly they change their criteria. We go to the states, cities & Zip Codes they need for their portfolio... We service them exclusively. It is exciting and the most official of all business launches will be after the first of this year...hahahaha, after 12/20/2012. We are excited! What are you up to?

I know I will never stop becaue this is not work to me: this is just fun! Now I took a turn into another direction as an entreprenure, as my posts you can read will atest. Along the way I took an unrelated business risk. It both succeeded and failed: It was a successful deal but it failed to supply the short term financing needed to start the nuew company...AND go forward on other planed deals to help others along the way. A huge disappointment, I found myself running out of money...So I had to bide my time "and wait to get paid." It seemed to take forever... But staying on the subject, stick to the DG Program! The continuing education comes in many ways, when you are staring out, the blogs and the interface with other new and more experience studens is vital for staying on top of subtle changes and also with getting rhought to the basics... Also, go to the social networking sites and interface with other DG Studenst doing business and aiding and educating eachother.

Stick to the basic. Do not reinvent the wheel. No need to. Add to it of course, but remember that this is not rocket science. It is a tried and true path and it is laid out for you. It is the simplist business I have ever been exposed to. OK< when I was in the Alfalfa Srrout Growing business in Eugene, Oregon in the 70;s that was easier. But that was an exception!

Enjoy it! Make it fun. Like Golf, it is a game you play, not a game you win. You compete with yourself so do not get caught up with those that take it so seriously they think they are out hustling you. Hustle for your own sake but at your won pace. DO NOT GIVE UP! It comes to all who stick it out...Sometimes it goes lightening speed, others it takes a while. But Enjoy the Journey!

Hello,
Thanks got the invite. Sorry I miss the meeting due to sick. How was it? Tell me about it.

Hello everyone just finally getting the process of this real estate in Arizona. I see some home up for sale in my area, and try to pencil out "if I could plans" Well I go as far a calling the phone and talking to the owner about why he is selling his home, I then ask him how fast does he want to move on selling it? I get many answers that sound standard and I pencil it out to see if I could handle it, but that is as far as I go. Anyone one to help?

Just trying to get my feet wet and reading on wholesaling. I have checked out the War Zone areas and still a little confuse on determining the market value. I have not call a real estate agent but know a couple. I drive around my area to try to find prospects. Mainly look for vacant houses, mostly single family homes. I do need some help if anyone has any suggestions let me know.

Thanks,
Miguel

Just trying to get my feet wet and reading on wholesaling. I have checked out the War Zone areas and still a little confuse on determining the market value. I have not call a real estate agent but know a couple. I drive around my area to try to find prospects. Mainly look for vacant houses, mostly single family homes. I do need some help if anyone has any suggestions let me know.

Thanks,
Miguel

Hi Danny & Lorraine,

Sorry it took so long I do not live in AZ. I live in New York