OfflineHello. I've been reading these forums for well over a year...dreaming about being successful in the real estate industry. Like many, my funds are tight and the collectors are looming. My fiance suffered a back injury and no longer to work, so now everything's on me. Don't get me wrong, I'll work until my fingers falls off to support my girls and my fiance but it's just time for a change. So, rather than sulk, I decided to move forward. I've been working with an investor/rehabber for several months as an apprentice in order to gain knowledge without risk. He was then supposed to partner with me in a deal. He suffered a massive heart attack and is no longer with us. Don't get me wrong, I care but I no longer have an investor. So, I actually scouted out an investor on this site. I figured, hey why not go where the successful people are, right? We'll see if he actually decides to move forward.
In the meantime, I found an excellent opportunity where I live to partner with the county and purchase their homes for cheap and flip them. It's such a great program that they even help you place buyers at the ARV in efforts to keep the property values up...and they offer incentives to the purchasers which gives them grants for downpayments and closing. It just doesn't get any better. So now, I have unlimited access to homes that are sale for no more than $20,000 (that's the max) with guaranteed ARVs of at least $100,000. I even have a few buyers for the homes that I don't yet have...but not investor. Where should I look? I'm hoping that the gentleman that I've been speaking with decides to move forward. But if not, where do you look for true investors? Any suggestions or advice is highly appreciated.
Thanks
House Hunting towards a $Million
Why do you need an investor if you have buyers for the homes. Maybe I'm not understanding your question. Do you mean you need a partner to invest with you?
Shirley
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
Yes Shirley. I started out with one but then life happened. I can't sell these homes until they are rehabbed. With this county bank, the homes must be purchased, rehabbed and certified by the city/county/state before they can be sold. It's part of the whole agreement. I think it's a great program because it comes with a lot of protection and assistance. They even provide immediate permits so you don't have to run around trying to get those to rehab. Everything's instant.
Initially, I though that finding the buyers would be the most difficult part for me. I've proven myself wrong. The partner/investor has become my challenging area.
You may want to begin by completely your profile first. God Bless.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
Sandra, I just completed it. Thanks for the reminder. It never even crossed my mind that my profile was incomplete.
You can try to put out yellow yard signs that say something like " 3 bed 2 bath 80% off FMV! CALL NOW ...
this program seems amazing. Wish they had something like that where I lived lol success to us all.
Good luck.
Robert.
yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the "present."
"Be not afraid of growing slowly; be afraid only of standing still"
I decided that I just don't have enough information. Even though I've been doing research and taking a few steps here and there, I feel like I'm missing something. I came across a post awhile ago that mentioned that you don't really need any books to take the right steps. So, I never purchased any books. Well, I decided that step wasn't right for me and I placed an order last night...30 Days to...If I'm brave enough...lol...I may do a 30-day journal to show my failures and successes.
I think having a journal is good for accountability. I seem to not be consistent with that. Can't tell when last I wrote anything there. However, I enjoy reading others once in awhile. Please attach a link so we could follow your 30 days to ... success. God Bless.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
Find Investors at REI clubs, auctions, landlord associations,look into city/county websites for property owners of multiple houses, we buy houses, for rent ads, rent signs, fsbo (some are investors), stop at houses being rehabbed and ask who owns it,newspaper rent ads that have the same phone #,ask contractors
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Charmayne, I might be able to help you. What exactly are you looking for? Can you be specific.
Raymond
First, I'd like to thank everyone for their advice. I am taking notes and implementing everything. I will be successful in this and I'm glad I have the DG fam on my side.
Raymond, I'm looking for an investor to partner with me in a purchase/flip. There is an extensive and ever-evolving list of properties provided by the county. I've selected a few homes on the list, all with exceptional returns. I'm willing to do all the work from repairs to sale, and will split the first flip at 60/40 (investor favor)after the return of investments. Why? Because I know this is a successful opportunity. This is the way that I can capture a strong investor, build trust and establish a good business relationship for possible future deals. This is a great program that is specifically designed by the county/city/state to ensure that everyone is successful and benefits from the initiative. One of the first homes I selected is for sale at $20,000 with a high estimate repair value at $20,000. 8400 sq ft...3bd/2bth, colonial...last few sales in the area with comparable detail sold around $120k. ARV for this home is $130.
If you can assist, have any ideas for me or would like more information, please let me know. I really appreciate it. Thanks.
Have a great day DG Fam!!
Hi. I received the 30 Days to Real Estate Cash book on Monday. It felt like I was waiting forever, even though it was only a few days. With so much anticipation building, I read the entire book and took notes in just about 4 hours. It was exactly what I needed because it organized the steps in a very clear path for me. I set up the new business, established a website (that hasn't been built yet...that's on the list), established a separate phone number, called agents (none of which were successful), placed ads, and I have a whole checklist of other things that need to be accomplished. I focused on work yesterday and now I'm back at it today.
Before I even got the book, I was focusing on a land project that is based here in my county. The deals are super but I have to purchase the property/rehab then sell...all according to the project's guidelines. The properties are no more than $20,000 with ARVs that are at least triple the purchase price...many are much higher. I scouted partners to help with the purchase...I do all the work, rehab, etc...split the profits after return of the partner's investment...nothing. I had a few bites but no one is serious...but this is serious money. I'm trying not to get frustrated.
So, this morning, I get a call from the land project rep..which doesn't happen until it's your turn because there is a 2 week application wait...and she said that someone's going to be calling me to set up house visits so I can pick the ones I want. OH NO! Yes, I'm super excited but I haven't secured the partner yet. Now what? When this person calls, I'll be able to go through the available list, look at the properties, choose the ones I want and move forward. But without the partner, I'll be stuck. Any ideas?
Hi Charmayne
Sounds like you have uncovered a great opportunity. I live in Seattle, but invest primarily in the Cleveland area. I will send you a PM with my contact information.
Here's to your success!
Gena
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
Thanks everyone for your words of encouragement and special thanks to Gena who has given me some guidance and the sparkle I needed to stop worrying and stay focused. The DG fam is a great fam!
So, I encountered some agent hurdles which I believe I have overcome...at least at this point. It's really amazing how many agents you have to go through to find the right one. But, good ole Craigslist seems to have broken down some barriers. My new agent sent me a super extensive list of bank-owned properties. I think we peeled through 400 properties, narrowed them down to 21, then down to 8. We ran the numbers on the 8 and narrowed that list down to 3. I placed offers on the 3 today. We'll see what happens. I'm staying positive because there's no other option. God bless!
How are things coming with that fabulous county program? Were any of your 3 offers accepted? I read this and it's like somebody ripped pages out the book! lol.
"Those who believe they CAN do something, and those who believe they CAN'T are BOTH right." -- Henry Ford
"Always bear in mind that your own resolution to succeed is more important than any one thing." -- Abraham Lincoln
Website: http://www.5kholdings.webs.com
Facebook: http://www.facebook.com/5kHoldingsInvestmentGroup
LinkedIn: http://www.linkedin.com/pub/h-renee-williams/52/216/a04
Email: www.5kholdings.wf@****
twitter: @5kWf
You are fortunate to be in an area that have such a great programme. Do not become discouraged things will fall into place, with an investor on board with cash you would be at the right place at the rifht time.
Donna SIMON.I am interested in doing all of the strategies, then deciding which will be the one I am most comfortable with, but for now I would love to do wholesaling. This would definitely create fast cash, that I can use for investment in properties that I can eventually buy and hold.DEAN thank you for always creating that time to think of THE DG FAMILY AND WHAT WOULD be best FOR US.
Thanks for the words of encouragement everyone!
Things are hectic...life is hectic...but I'm staying focused through the storm.
It's interesting because it seems that all the work is finally starting to pay off. The county program is soooooo slow. I finally got a call yesterday from the "show-er" (as he is so titled) to look at their properties next week. They completely skipped over the approval process. I had no idea that I was approved until he called. No complaints...just strange. Anyway, I'm going to check out the 3 houses next week. I didn't think the homes would still be available after this long period, but they are.
I've also been working with an agent I found on Craigslist. She's super helpful and has me on an automated MLS list which is very convenient. I placed an offer through her on Monday. We'll see what happens.
I registered our corp and domain name, and built the website from scratch. That was interesting. I haven't done a full site in a while.
I have potential partners/investors but no firm confirmations yet. My buyers list is beginning to grow. I'm getting nervous. I try to keep a realistic perspective on things to keep my nerves in check. I've bought homes and cars before. I was a licensed P&C agent in half the country once and sold intangibles to people all over the country. I'm a business owner, a writer, a mother. I can do this and I have support because my fiance is on-board. I've got a great support system. My mentor was pulled away from me but was quickly replaced with another. Everyone that I've talked to about my ventures has been supportive. I, amazingly, haven't received any negative feedback. So, the way I figure, the only person stopping me - is me - and I have no brakes.
Blessings!
Here to me here to make one dream
just dream one day
one min one sec
it ok to try n win in my daily life
I have a dream to start in myself
one dream is all
it is to put on my list
ok one dream
can turn into 2 dreams
one to sell
n 2 to start where my heart follow my dream
just think
selling my own home
and buy another dream
It just take time to plan
start that journey
to live happy
to dream many dreams
just one dream
I new here so had many ideas
love to read blobs
share blobs on journey
it about winning with others
say never stop learning teaching being a great person too !
`So good to care and not worry about society or the world
wrong u care to share hope for evryone to be a winner One dream
garden for community
home for people
contributing hope in my world I like cob homes nature
too It a dream deep in me so as long as there a journey
i must get to work on it Will sell my home
then off to another vision
hope is something to have within
I already accomplish dreams yrs ago
Still long for few more dreams