chicken or the egg in Memphis

Bird Dogs, Wholesaling
1

I’ve been procrastinating about REI since “Nothing Down” was in its first printing. And now I think I’m ready to face the demons.

My questions is pretty simple, given the lack of available cash, should I try to do a wholesale deal in my own name to get cash to set up an S corp or do an S corp for the first deal?

I have a plan to build my buyer list. I’ve identified the area in which I’d like to focus. We have what appears to be a good club in Memphis that I plan on joining to network.

I also have the same old fears in that I wonder if I can actually do this here. I’ve seen three different “We Buy Houses” bandit signs in the area and a “Home Vestors” billboard, as well. I have those fears that I won’t be able to find houses to flip because of fierce competition.

Can anyone calm my nerves on this.

2

Hey,

Dont worry about not finding the deals, because THERE OUT THERE!!

I mean think about it…if you see a house that you think is a good investment and you already know that 5 “seasoned” investors are looking at the same house.

It does’nt matter if they know more than you “about the house and the market” because if they ALL offer low-ball offers and you offer a reasonable offer to the seller then guest what…YOU GET THE DEAL that profits you anywhere from 5-15,000!!

It doesn’t MATTER to the seller how much experience or advantage that another investor has over you, it’s ALL about the “offer” submited.

Hope this helps

Happy Investing