Andrew Nelson's blog

As I leave to the office to go show 3 investors my next wholesale deal (with the owners)I cannot explain the importance enough of having buyers waiting. I chose the slower method of building mine by meeting them face to face but now I have 3 brokers in 2 towns feeding me deals and an expanding network of (with their people included) 1500 investors with money to spend.
I only work with about 5 investors directly but they have more people in their group.
BOOM! that is how it gets done!
Keep at it!
Andy Nelson

So I am in the process of liquidating my inventory. I had 2 houses that I bought using the 25/1 strategy and was holding them while i collected rent every month.
This was my goal. To sell for a profit.
I bought the first using money I borrowed from a client of mine but at an unfortunately high interest rate. When all is said and done I will have made $6000 while investing none of my own money and still collecting rent of close to $800/mo for the last 16 months.
The other deal I found while making offers when a deal fell through this one was the backup. I closed my IRA and borrowed $6000 from my parents. The deal cost me $14,000 of my money and I will have made $11,000 in 13 months while collecting rent for 8 of those months.

It took almost 3months for me to settle into my new life in Nashville. I have been to several meetings at the local REIA. i have taken a couple classes and made some good connections.
Just last week I connected with an out of town owner with 2 houses to sell, both duplex or larger. I found a buyer for 1 very quickly and am working on a buyer for the other. I stand to make up to $10K for wholesaling both. Not bad for a trainer and entrepreneur.
thanks DG family for helping when I did not think I could.

I want to give you a short and dirty background on my story:
I live in NYC
In 2005 I bought a house in NJ using a "mentoring" program from a washed up investor who did not know how to change with the market. He was teaching old techniques and I paid for a $10,000 mentorship where they basically said "make more bids" "find a buyer".
This was the height of the flip business and I got a loan for 103% of the price I paid for the house. I fixed it up. Cleaned it up and put it on the market. We wanted make a "quick $15k" like the mentor said. Buy it. Mortgage it. Fix it and sell it before the first payment is due.
It didn't happen!
So we moved in to our smallish house and stopped paying rent to start paying mortgage, insurance, taxes, interest, flood insurance, car insurance.....