I might as well try Real Estate I always overlooked it, but like another guy said it all depends where you are living? I know a good system that works in Japan and I tried to replicate it in Canada but the system differs so much it is impossible to replicate the system without over 300k+ investment.

I will be one of the buyers to be honest..
thanks

Anyone interested in further research about real estate should look up Azam Meo. I've read some of his stuff, seems doable. He is well known for setting up contracts to buy or sell in less than 10 minutes by phone.

The only downside to bh real estate marketing is your reputation though. In internet you can hide behind names, but if you do blackhat in small social circle (small country like mine), everyone will know about you and you might get in serious trouble or just have no friends.

Hotstox? You still in the flipping business? I have a commercial property locally that is cheap.

Wow sorry I missed your post sonic, yeah I took a little break to get some other projects launched, but hitting it full force now. Even started investing in raw land! It's obscene, picked up a chunk of land today for 200 bucks + 500 in back taxes, financed the sale to a guy who wants to park an rv there or some shit for 2k down 3k paid out monthly on a 5 year note Def trying to scale that up, it's so much easier to deal with seller, since land has no real emotional factor to it, and half the time these out of state owners have no idea they own it.

I would definitely be interested in this. My wife is a real estate agent and I worked as both a licensed loan officer and also as a mortgage banker (Wachovia, Bank of Texas, World Savings), but am no longer doing that. Have always wanted to put my fingers into other areas of real estate, so this is very interesting to me.

I would be very interstead and so would my mother and brother and father.

There is a guy locally who puts on a 2 or 3 day seminar about flipping contracts and he charges $1500 for a hands on session. I don't want you to charge us that of course.

But I did want to let you know so maybe it would inspire you to go forward with it. Flipping contracts and wholesaling properties is definitely making some people wealthy around here.

Keep us posted on your progress, and give us a sweet deal on the product. Review copy please.

Remember, before any of this can be sold (coaching/ebook/whatever), it will need to pass through our staff for approval first.

Thanks.

Would this work in the UK?

Is this sort of like third party construction?

Originally Posted by Essential Clix

Remember, before any of this can be sold (coaching/ebook/whatever), it will need to pass through our staff for approval first.

Thanks.

yeah nothing's been sold or even produced yet clix, or you woulda known about it via aim

Yes it will work in the uk, though the contracts may be structured differently. I know a few wholesalers in the uk, so I will talk to them about it.

So you're based in the US, hotstox? And to do a deal like the one in your example article, you don't need any sort of special license, permit or anything else? You just need to lock the seller up with your offer and find a buyer?

Honestly, I always thought it was pretty much that easy (and that difficult, heh). But held back due to thinking there HAS to be some other sort of catch I'm not seeing.

Yes I invest out of NC and Chicago, and NO I have no special license or anything like that. It's essentially the same concept as buying the house to flip it yourself, or just to live in.

Finally getting my MLS access this week. With economy down and poor sales this is the best time for investors to lock in on desperate sellers.

Great job on the 1st part you published earlier in this thread. Definitely would be interested to see your offer, be it an ebook or a coaching program.

i'm definitely interested. i've been trying to get my hands on Chris Chico's Virtual Wholesaling course as the main targert with Mike Collin's REIWired and other materials as a secondary target. I prefer Virtual Wholesaling because I'm not that interested in meeting clients or investors face to face and I don't want to be limited to just my local area.


by the way, I have access to a ton of fresh, daily preforeclosure prospects (better than leads) and various other properties throughout the u.s. if anyone's interested, and I also work with a company offering a short payoff solution to homeowners in distress without their having to attempt a loan modification which may or may not be approved. it's similar to a short sale, however it allows the homeowner to remain in the home and on the title, immediately lower their payments, and later refinance into a low interest FHA loan in 12 months. we have conference calls every Tuesday and Thursday evenings. pm me for details.

Thanks again for the kind words, not really selling anything right now but always looking to shoot the shit about REI so hit me up on aim if you wana bullshit about it.

Thanks again, and yeah chicos course was pretty decent from what I hear, but depending on a ton of variables. I have a few friends who read it and said it's perfect in theory, but hard to implement on any type of scale, using virtual assistants and whatnot. I personally have done deals in states I have never been in, so it's not far fetched at all BUT for wholesaling you maybe better off spending the money on a more effective ad campaign in your own area to get started.

I have a few friends doing this, maybe similiar. What they do is hunt for properties and contact the sellers directly. They of course have a registered company. Then they will nego with the seller and get the best price out of him/her. They sign a contract (60 days) and then go hunt for buyers. They take no fees from both buyer and seller, just play profit from the margin sale price.

Is this what u are talking about?

lol yeah affguy, that's pretty spot on bud

Originally Posted by hotstox

lol yeah affguy, that's pretty spot on bud

Great so i can do the same stuff now...lol....hmmm guess not too interested in real estate

Jaymartins has asked whether this will work in the uk, I am also interetsed to know if it will work in the uk, please can you give us anwser

It would be nice with a BH Real Estate guide Will it work all over the world? Because i live in Sweden and it would be nice if anything would work here ^^

//Nattzor

I couldn't responsibly answer that, but I'm fairly certain the concept could be applied to any contract, as long as their is no clause preventing it (like on bank owned properties, but even then there are ways around it). I invest in the US, so I could not say for certain either way, however if you can get me a copy of a standard purchase agreement from over there I can take a look at it.

Thank you for the offer. I would be interested in a real estate guide for todays market. I just got into real estate investing for wholesale and short sale properties. Also, I am going to look at investing into some software that can write and print out a contract offer to the seller. At this time I am not aware of software that is shared among investors or real estate agents.

As someone who has been browsing a few popular REI forums, most notably flippinghomes.com, ran by Steve Cook; as well as picking up Cris Chico's "Virtual Real Estate Investing Course" late last year, I'd be interested on whatever you're planning on putting together.

Would the information/topic be around flipping any type of house, or specific to those homes that are NOT in foreclosure?

Thanks!

Sorry for bumping this thread but i wonder if there is going to be any BH Real Estate guide?

Originally Posted by nattzor

Sorry for bumping this thread but i wonder if there is going to be any BH Real Estate guide?

Hey,

I've spoken to hotstoxx a lot about this recently. He doesn't really want to put out a guide per se but does offer private coaching (which ROCKS) I started the coaching but then due to conflicts in my schedule we haven't met recently because my time is whacky.

Anyway, he is the real deal and knows his stuff!

just read the first post.

I live in Los Angeles and saw the rise and fall of real estate here. It was epic.

Of course I'd love to make money in real estate. That is actually my end game plan off all the money my internet projects are producing. However it still scares me how people I personally knew got wiped out in the RE game.

To say you got approval for "$xx.xx" and found a buyer within hours willing to pay CASH is incredible to hear in this economy. How do you "find" someone in hours with that kind of cash in their front pocket amid an entire nation of butthurt real estate agents, brokers, etc. who are looking for that guy?

You must have one hell of a method to locate someone in hours when I personally saw PROs in the real estate game go belly up and can't get back their old clientele and lifestyles.

I'd love to hear more about this ebook tho. I'm online mostly on AIM. Check my sig. Send me a message.

I believe your basically talking about real estate wholesaling.....

Hmmm....Try googling real estate wholesaling and you'll see a fellow blackhatter at the #1 and 6 spot out of 41,000,000...

Basically....

1. You build a list of buyers


2. Find out what those buyers want

3. Find homes that meet your buyers needs

4. Put the home under contract using an inspection escape clause

5. Get your buyers through.

6. if they do like it then you assign the contract, do a double closing, or sell the llc that the contract is in.

7. If they don't you exercise your escape clause....

I have personally made over $30k each on a couple of deals i did....I have had clients clear as much as $150k per deal....

Wholesaling is the ONLY way to go with our economy in the condition it's in..

Originally Posted by ericmedem

I believe your basically talking about real estate wholesaling.....

Hmmm....Try googling real estate wholesaling and you'll see a fellow blackhatter at the #1 and 6 spot out of 41,000,000...

Basically....

1. You build a list of buyers


2. Find out what those buyers want

3. Find homes that meet your buyers needs

4. Put the home under contract using an inspection escape clause

5. Get your buyers through.

6. if they do like it then you assign the contract, do a double closing, or sell the llc that the contract is in.

7. If they don't you exercise your escape clause....

I have personally made over $30k each on a couple of deals i did....I have had clients clear as much as $150k per deal....

Wholesaling is the ONLY way to go with our economy in the condition it's in..

How long ago did those deals take place (both your own deals and your clients' deals) and how long did they take to close?

I can find deals all across the country and I have a small list of investors, @ 50 or so. I would like to run my operation completely from home without ever having to see the property or meet with the investor/buyer or seller in person. Is this possible and are you open to partnering up somehow?


edit: The #1 Google spot for "real estate wholesaling" looks to be you, if you are indeed Eric Medemar of The Millionaires Blog. But the #6 result in my search results belongs to either Larry Goins or Alain Diza depending on how you're counting (if you're including the second result under CRE Online as a seperate Google search result or not...)

I have experience flipping and wrapping contracts, and it is a passion that few of us actually follow through on. For what a couple pennies are worth, it could easily be argued that the mass distribution of Real Estate "How To" and "No Money Down" info-products actually lead to the influx of investors that created the inflated prices. Florida and California saw it in record setting numbers.

Wrapping contracts is definitely a way to play the Cash-Flow game, but when everyone is a Real Estate Investor....What happens? Well, let's just consider that what has just happened here in the states.

Yep...owner financing and/or rent to own deals
are what I do. Some local, others out of state.

You can even assign owner financed-structured deals to
owner occupants and investors alike.

Being the bank has its advantages.

Just interested in how far the OP has gone with this since the original posting a few months ago. I used to consult with private banks and investment firms when it came to real estate. Mostly investments in new properties rather than problem properties. (new properties much more profitable).

But if you're interested OP I can explain the basics of how LeGrand and others do it and how much to charge and why. Can also give you some clues on the coaching aspect and software to use.

BTW: $97 way too small. I can show you how to make much more than that and probably a lot more than you're making now. PM me if you're interested OP.

what happened to this ...sounds good to me . pm me ..thanks

this is pretty interesting. im guessing you need a lawyer to write up/review the offer though, how much does that cost? is there a way to do it yourself?

That's interesting. I am interested how it an be adapted for asia market.

Wow this sounds like a really fascinating opportunity hey Hotstox - how do we sign up to get more info from you?

This is something that interests me as well. Real estate is a game that takes balls to play, but the payoffs can be great (which is why I keep researching it, even though at this point I've only dabbled in it).

There's a lot of avenues for returns in real estate. Everything from Inventment Trusts (which are kind of like a specialized stock/real estate only mutual fund), Contract Arbitrage, buy-renovate-flip, build long term equity & mortgage roll, etc.

There's also a many great properties ripe for investment, ESPECIALLY NOW, because of the high rate of foreclosure. Truth is, many people (savvy B Hatters excluded) are scared of the real estate market right now... but that's exactly why it can be an excellent time to buy. Even if you're only goal is equity building (which is how so many people lost money in the last 2 years due to the real estate collapse) you can make money (but it will probably be 3-5 years before you can pull a good mortgage-roll on a property depending on your area).

The key is recognizing potential. Remember money is made at the beginning of the purchase not at the time of sale.

This is just my 2 cents, but for the record I've bought a house recently, I low-balled the offer and it's worth more than I payed even though there's been no appreciation in my area. Something to consider.

i don't mean to post on top of the Ops thread but it has been since feb. since his last post. Iam an agent in miami and read through the replies and want to clarify some things.

1. assigning contracts is a thing of the past...the only way to "legally" "flip" a property is two of the three ways that ericmedem posted. do a double closing with some sort of transactional funding company, hard money, or something similar. they usually charge you points on the transaction...i would pay no more than 4pts on something like this.

2. putting the property under contract and "sell" the LLC that is holding the contract.

i am not saying you cant or people still don't "assign" the paper but laws have changed and they vary from state to state and is very grey. the reason being is this is one the very reason why the market collapsed. people put down the 20% on multiple properties with no intention to ever close only to flip the contract when it came time to close. some people did this and made millions...others got in too late and you know the result.

downtown miami is a prime example...there are construction loans in buildings down here that were seized by the FDIC and now are owned 60% by the government. I am in direct contact with the FDIC and Starwood Capital that owns the paper on these loans. Just called up the FDIC and channeled my way down from there.

I look to be opening up my own brokerage here in Florida in the next 2months (finalizing all the paper work) and will be considering opening my doors to BHW for all types of ventures.

the sky is the limit when it comes to real estate and I can assure you can make more money than you can imagine.

hotstox, pm and let's connect. I do RE investing and generate a lot of buyer leads. I have over 200,000 of them that would love to do something with you on.

I love your idea as there is a bunch of fluff out there and very few people deliver the goods.