How to start a business flipping or wholesaling houses? What to do first?

[nowzthutime4u]

Thanks for the information. If anyone would like to learn the real estate game go to my free lessons as posted on my video Real Estate Investing Lessons.

[queenforb]

I've bought, read & done so much searching it has costs a :LOT! I do chase my tale!

So how will someone like me afford any way to do this? I must be stupid because Ive read, and bought but have no money-have broken back but I will do all I can everyday!

[layathan4]

wat do i need to do to start flipping houses without being a realator????

[srguy1000]

I am a fan of your no nonsence approach to REI. Thank you!

[JefedeJefes73]

WOW, I just want to tell you that you have so much great info on your videos that people have literaly paid thousands of dollars for. Wholesaling is the quickest and safest way to start building your equity.

[twincoracingrehab]

Hi ...I love your videos....my search is finance. I need assets lending - Hard Money resources. I have been in the biz (flipping) over 8 yrs and got stuck...

[nowzthutime4u]

@twincoracingrehab Hello, If you go to my video, you can learn "Creative Financing" and "Creative Acquisitions" for Free! After you download, share the links with anyone you'd like. Thanks!

[skeetmoses]

I want to get into wholesaling but I want to make sure I'm doing it right, legal and have structure, a model that keeps repeating itself

[TeachMeFlipping]

Just let me know when you're ready

[nowzthutime4u]

@skeetmoses check out my video, Real Estate Investing Lessons, they're free!

[dgascon1]

You give out great information. Very helpful.

[TeachMeFlipping]

thanks, i try

[PsionNinja]

Since I'm starting out with virtually no money, how do I get around the title search fee? I hear they can cost as much as $500 (Yikes!) for a single search.

Thanx-

[netshops2004]

I was a former title agent and there is no way to get pass a doing the search if you want to purchase that I have ever heard of.

[TeachMeFlipping]

depends on your market but in most markets it cost less than that, i can get them done for less than $200 here but that's my market plus you can wait until you get a buyer in place and use his folks to prevent you from paying upfront, that's what i did when i started

[PsionNinja]

I actually read Ron legrand's course back in 2003-2004 (I forget actually when). I attempted to do some wholesaling only to find that sellers were either upsidedown or in lala land. I put many fliers out, bandit signs, and door hangers and got some response.

I did manage to refer a deal to my former RE partner and got $250 from it. He wasn't gonna make much on the deal so I understood.

[PsionNinja]

Even though I kept marketing the calls eventually dried up and realized the current market conditions were just not optimal for getting a proper wholesale deal. I'm hoping that the current down market will bring sellers back to reality and to get some business done. To day I put out 12 bandit signs and plan to put out more.

I know that I only pay for a title search when I have a property under contract. I heard of an idea I'm gonna post below...

[PsionNinja]

I hear that if you are new and dont have the cash to do your own title search, you can just goto a title company, have them do the transaction and they will run their own TS anyway. But if the title comes back bad then it's kaput. I'm not sure if that will work or not. I'm sure the title companies probably got wise to this a good while ago, thoughts?

[TeachMeFlipping]

simply wait until you get a buyer first which in most cases have relationships with title companies or closing attorneys and simply piggy back his existing relationship with them to pull the title with no upfront cost.... this is not theory, this what i've done with every new title company i've dealt with

it's really that simple

[PsionNinja]

Awesome idea, its much better than what I told ya. The title search was my only real hangup. Now its a matter of getting the calls.

Also, I take what you say about the business very seriously. I see you working in the trenches and have no reason to doubt you. I've seen just about every vid you made.

Great stuff, I'm subscribing now :)

[TeachMeFlipping]

Thanks for watching

[controlpopulation]

You don't do a full title search, you do a stub search. Much smaller and only goes back to the previous sale date of the home. Usually runs about $100-$125 depending on the state.

[TeachMeFlipping]

if you have the $100 - $125 or so,

i didn't have that extra money when i started

i try to provide creative ways to do this biz without using your own money

[controlpopulation]

I agree with you but if someone can't scrounge up $500, I dont think they should start this biz.  Either way, you're going to need gas money, deposit money, title money etc...

I borrowed my first 5k to get started from a family member and it made a big difference in my confidence and stress level.

[TeachMeFlipping]

I know you can do it on a lot less because i did it and others have also

Initial investment:

Course - $400

50 Signs - $250 - I over paid, didn't know any better

Gas - $20 - 2003 prices

Didn't pay for any title work, the buyer took care of it all. Luckily the title was crystal clear.

First Deal I made $2500, you do the math and the rest is history

[Liz2000a]

How do you find out how much the house is really worth after it is fixed up?

[TeachMeFlipping]

Do a search for this video

"How to Determine and Use After Repaired Value aka ARV to negotiate deals? Real Estate Investing"

[4syr]

Hola Amigo, very bueno information, thank you. Gracias

[hchise22]

Want to say thankxx for the info and that its very helpful and I really appreciate it. Finally getting all my ducks in a row. Thankxx again.

[TeachMeFlipping]

yeah, get in the game, take a few three's, you might hit one or two

[mohsinhina]

You are so honest

[TeachMeFlipping]

i jus try to give you my experiences, good or bad

[doctorbusiness]

Tyrone, what you say is nothing but the truth! I don't know anyone of the guys out there calling themselves gurus! They make you pay for everything you give away! Don't stop, you are helping thousands of others to get a new start!

[TeachMeFlipping]

dude, i'm not hating on anyone else's course because there are a lot of good courses out there but i hate FLUFF, just get to the point.... so i try to trim the FLUFF and give you what i know on a topic

[biggestman08]

Thank you very much for all your insightful advice. I'm still educating myself before I step out into the world of Flipping Houses on my own. One step at a time. I'm just a little hesitant due to my lack of experience, and lack of Finances.

[TeachMeFlipping]

hang in there and make it happen

[texantwin24]

Once again.......the most informing advice her on youtube. You hold no puches, and we appreciate it. Question for you before I do my best to rock the city of Houston(tx), "is there a such thing as a market being saturated with wholesaler to the point that it makes more since to work a different market? If so is it unheard of to wholesale in really small towns outside your metopolitan city and still be sucessfull? Are bandit signs a MUST??

[TeachMeFlipping]

What's the population of Houston?

[texantwin24]

2.2million inside the city of Houston, with the small suburbs just outside the city limits its 5.6million (wikipedia facts 2008)

[TeachMeFlipping]

yep, that's a lot of folks that have either pay rent or a mortgage which means opportunity... if you did 30 deals this year, you wouldn't even be on the radar but would have made $200k plus....

never too many wholesalers

[krispyn2dc]

Thanks again for the information.

[clarkhill99]

Thanks for the information.

[TeachMeFlipping]

ur welcome

[bigjoeseph]

Thank you Mr. Taylor for your information, advice, and techniques you give us. You'r right about educating ourselve's. The more knowledge you have the more confidence you will have when you'r ready to approach a deal. The knowledge you get will help you answer those questions these home owners will be asking you. When I approach a deal out here in Los Angeles, Ca I have all my information I need to answer any questions they may have.

[TeachMeFlipping]

i've tried to think of everything

[ramart1976]

I just want to say thank you ... because as you inform us about your steps...you give us plenty of details of your experience..and i must say that it helps boost my confidence...thanks again ..cant wait to sign up

[TeachMeFlipping]

i'm trying, thanks