Published at Monday, February 11th, 2019 - 09:18:33 AM. House. By Hamas Charlie.
The Family - The People of the Astrological Houses : The most important thing that we do in our experience is to relate with one another. To not be able to relate successfully makes life very difficult for many. I have done thousands and thousands of sky maps for thousands of people over my long years of being a professional astrologer. Probably the single thing that was most important to the person being read was relationships of all varieties. At the end of life, relationships or the lack of them were what was valued most, regretted most and controlled the end of life circumstance the most. At the core of relationship issues are the initial and primary relationships we form with our early family. Here is where our values are established and developed to become the basis for the relationships we build for ourselves in our future. As we mature, we form our own individual family circles plus a myriad of other relationships into which we enter. Family is where we begin our journey to understand and develop all relationships. In previous articles I have written about the parental axis, the 4th/10th houses of any sky map, as well as the individual maternal and paternal roles. However, the family is not just our parents or lack of them. Each of us has a long, rich history within our family, good guys and bad guys. There is a genetic heritage. Yes we can see the physical characteristics that are handed down through the gene pool. But there is far more than what we inherit from our families on other levels. I am exploring this family astrological heritage step by step through a series of articles. Any sky map is constructed with the earth (on which we all exist) in the center and the cosmic energy pattern existing around that central core. If we were on the Moon, sky maps would be constructed with the Moon in the center. On Mars, Mars would be in the center, etc. The wheel shape is called the chart and the divisions are called houses. There are 12 divisions of the houses just as there are 12 sign divisions for the zodiac. The signs show mannerisms, expressions and are descriptive in nature. The houses illustrate 12 compartments or arenas of physical experience. Each of those twelve houses therefore must contain numerous issues and also the people in your life. The whole of the wheel maps the whole of your life, every single thing. The trick is to learn to read that sky map successfully, which can be more involved than it seems. Our focus for this article will be on the people represented by the houses, particularly the members of your family. Houses General house information will help us reach the point where we can see the validity of the people representations. Remember that the 12 houses begin with the ascendant and are listed counter-clockwise from that point around the wheel. Psychologist Carl Jung divided human expression into four categories: intuition, emotion, sensation, and thought. In brief: · The left half of the wheel (rising planets) represents the development or the interests of self. · The right half of the wheel (setting planets) represents involvement with others or the interests of others. · The bottom half of the wheel represents the time from dusk to dawn, the introspective, internalized, reflective self. · The top half of the wheel represents the time from dawn to dusk, the externalized, participatory, extroverted self. · The four angles of the house wheel represent the point of beginning for each of the four quadrants of the chart. · The general activity of all four chart quadrants are in this order from the Yung perspective: intuition, emotion, sensation, thought. · The ascendant is the angle that begins the personal, subjective first three houses of intuition (1, 2, 3). · The IC or 4th cusp is the angle that begins the subjective, other involved next three houses of emotion (4, 5, 6). · The descendant is the angle that begins the external, other involved three houses of sensation (7, 8,9). · The midheaven is the angle that begins the external, self-interest three houses of thought (10, 11, 12). These few sentences describe the hemisphere and quadrature influence of houses. In addition, · The angular house for each quadrant is dynamic active, visible, directly related to the individual. · The succeedent house follows the angular house in each quadrant (succeeds the angle) and represents establishing, building, formalization of that quadrants issues. · The cadent house follows the succeedent house and represents adaptation and promotion. · In brief, the angular house activates, the succeedent house formalizes, the cadent house promotes the issues of a quadrant. · The round of the three types of houses begins again at the next angle. There is one more explanation of the cadent house that will help you understand its role better. Adaptation is the key word here because the dynamic influence of the angle is followed by the establishment influence of the succeedent house, which is a logical sequence for experience. However, it would be difficult to move from building brick by brick (establishment) to the dynamic activity of an angle because form would tend to resist the initiation of something new. The cadent houses bridge this gap between the establishing principal of one grouping of three houses (quadrature). and the dynamic principal at the beginning of the next grouping of three houses (quadrature). Using this rationale: · The 3rd house bridges (adapts) the subjective self-aware first quadrant as it encounters the subjective awareness of others or emotional quadrant initiated by the 4th house. Intuition gives way to emotion. · The 6th house bridges (adapts) the subjective awareness of others quadrant as it encounters the objective awareness of others or sensation quadrant initiated by the 7th house. Emotion gives way to sensation. · The 9th house bridges (adapts) the objective awareness of others quadrant as it encounters the objective awareness of self or thought quadrant initiated by the 10th house. Sensation gives way to thought. · The 12th house bridges (adapts) the objective awareness of self quadrant as it encounters the subjective awareness of self or intuition quadrant initiated by the 1st house. Thought gives way to intuition. · The cadent houses are therefore key to understanding the point of flux, adaptation, bridging within the chart and are definitely more important than surface reading would indicate. If you will add this information on the houses with what you already know about the houses, this material should add a layer to your understanding. Read slowly and re-read as necessary. People of the Houses Who are the people represented by the houses? Everyone in your life is in that wheel somewhere. We will begin with the four angles and the technique we will use is the derivative house system or what I call wheeling the houses. Self Many are aware that the cusp of the first house is called the ascendant and represents the physical presence of the person or entity represented by that sky map. Much of the descriptive reading about a person comes from that cusp and that house as well as that persons personal projection, response to its environment and coping skills. This is how the world sees us, through the filter of the sign on the ascendant and the planets in the first house. In brief, the first house and its cusp represents the most personal point of the physical self, the me point of the wheel. Partner Diametrically opposed to the ascendant is the descendant or 7th house. This is the point of the chart that is farthest from the point of self and may be described as the not self or the shadow self. This point represents the qualities we do not want to embrace and that we project onto another (partner). It is interesting that this represents the point of committed or contractual partnerships whether those relationships are personal (such as marriage) or business (such as partnership). Our committed partner is supposed to represent all the things we do not choose to express. What action do we do at this cusp? We commit to a person, walk into a house, lock the door behind us and attempt collectively to turn the house into a home. The way to a successful conclusion is to learn from that partner and embrace our own lesson. That way we can be with a person because we choose to, not because we must go to school with them as teacher. Parents The 4th/10th axis (cusps) represents our parents (or lack of them), the parental roles themselves. I want to back up for a moment and mention that this pair of houses is called the security axis and represents our internal and our external security needs. Our parents are supposed to fulfill that role or to at least prepare us for that role. There is a great deal of controversy as to which parent belongs in which of the two houses. I did cover that concept in three previous articles so I will not repeat that information here. Briefly, the 4th house parents job is to offer internal, subjective security, also known as the family. The 10th house parents job is to offer or prepare us for external, objective security, also known as making our way in the world successfully. Some people get lucky and the parents fulfill their roles well. Some people are not so lucky because dysfunction exists which can cause the individual lifelong problems. Not every parent is equipped for the role they have chosen. Some people take the lemons they received from their particular spin of the parental wheel and they make lemonade. I encourage that. So far we have ourselves (ascendant), our partner (descendant), our parents (both, either, or). What about all the other people that comprise our families? Where can they be found in the wheel? Grandparents The parents have been shown to be the 4th (and its axis partner 10th) from the 1st house of self. Where are the parents of your parents? They must be located in the 4th house from your parent cusp. You always count starting with the house you are questioning, such as the 4th house parent. Put your finger on that house counting one then count forward (counter-clockwise) one house at a time until you reach the 4th house of that 4th parent. That would be the 7th house. The same action would be taken for the 10th house parent but it is unnecessary to repeat the exercise, just look to the axis partner of the 7th or the 1st (you). So your grandparents (you have four) are found on the ascendant/ descendant axis. There are only two houses in this count, so two grandparents belong in one house and two belong in the other. It will take a little work on your part to sort this out, but this is where you go to find the answers. You will probably have genetic hand-me-downs from your grandparents. Two will have great similarities to you, those who are represented by the 1st house and ascendant. Two will seem less related as they occupy your 7th house of not-self. That probably is part of the generation gap. Physical and non-physical characteristics from those grandparents will evidence in you just as you will pass on certain characteristics to your grandchildren. My deceased fathers contribution to my kids and my grandkids is a specific sense of humor. My mothers love for dancing and music has shown up as well in my kids and my grandkids as has my paternal grandmothers beautiful singing voice. My parents and their parents are alive and well in the genetic contribution they gave us all within our family. Thank you for the gifts. Partners parents and grandparents What if you marry? The 7th house will describe your partner and your marriage. It should tell you what and who you are looking for, what you want someone else to do in place of you, and what you are not comfortable with within yourself. At times you are grateful. At other times you will fight the process (and the person). That partner has parents and so those parents will be the 4th from the 7th (and its partner) and we are again back to the 4th/10th axis in the chart. Hmmm. So far we are getting a large number of people in very few houses. Perhaps that will help explain why astrologers concentrate on the angular houses. Hang in there, we will move outside the 4th/10th axis shortly. Your spouse has grandparents (4) as well and they will be shown by the 4th of the parent or the ascendant/descendent axis. Getting crowded isnt it? Again, this can take some effort but this is where you begin. Multiple Partnerships All committed relationships are a 7th house issue. It illustrates what you are seeking in a partner because you are avoiding it as yourself. What if you have more than one marriage or partnership? To differentiate, skip the 8th house and go to the 9th house. 7th/9th illustrate your second committed relationship. Skip the 10th and go to the 11th. The 7th/11th is your third committed relationship. More? Busy little beaver arent you? Do the same routine: skip/choose. Just skip a house, go to the next one and join it to 7th. This combination should describe each individual person it represents. Children of all varieties Children are thought to be a 5th house issue. These would be natural children of the body (kids) or the mind (creativity). The oldest child is also described by the 5th. The second child would be the 7th along with the 5th. This 7th house child would be most like your spouse. The third child would be the 9th along with the 5th, and so forth around the chart. If you were to have 5 children, the 5th child would be most like you because that child would be represented by the 5th and the 1st houses. Children of your spouse, adopted children, fostering of children are each represented by your 11th house. Same procedure, maintain the base house but do the skip/choose procedure for each individual. Spouses of your children would be shown by the 7th (partner) of the 5th and additional house influence (child). One last child that may be found in the 5th house could be small pets. Large animals such as horses or elephants are read from the 12th house. We all know people who treat their pets as a child with wraps or costumes, who may eat from your plate, considered a member of the family, be the recipient of lots of baby talk, etc. I am not talking about the ordinary affectionate position of a pet within a family. There should be plenty of emotion and caring for any pet. As you know, some pet owners go beyond even that. With some you may find the 5th house is active or gives a better description of their pet, particularly if there are no natural children or are there are children but they are not available to the person. The pet becomes their child. Grandchildren A child of your child, your grandchild, is the 5th house from the 5th house or the 9th house for all grandchildren and particularly the first one. Again the skip/choose procedure applies for each additional grandchild The child of your spouse belongs with the 5th from the 7th or the 11th house as its base and skip/choose applies here as well. Siblings and Partners Do you have siblings? They are a 3rd house issue, all of them. However, we must differentiate for individuality. All siblings and particularly the oldest one are 3rd house. The next in age is the 3rd and the 5th in combination. The next in age is the 3rd and the 7th in combination. Each succeeding sibling would maintain the 3rd and add the next 2nd house skip/choose jump (skip the 8th and go to the 9th). This is how you would look at siblings in general and specific siblings in particular. The partners of your siblings are shown by the house opposite the one chosen for that sibling. Siblings of Spouse and Their Partners If you were seeking information on the siblings of your spouse, look to the 3rd of the 7th, which is the 9th. This is often referred to as the general in-law house as well. Again the 9th would be all siblings of your spouse particularly the oldest one. Do the same skip count as your own direct siblings, the second oldest sibling of your spouse would be the 9th/11th, and so forth. The partners of your partners siblings are showy by the house opposite the one chosen for the siblings of the spouse. Cousins, Aunts and Uncles of all varieties Cousins fall into the same house arrangement as your siblings (3rd). A spouses cousins fall into the same house arrangement as their siblings (9th). Your own aunts and uncles have their basis in the 6th house, same counting arrangement. Your spouses aunts and uncles have their basis in the 12th house, same counting arrangement. In Brief We have looked at the generalities of the houses to establish a reasonable base for understanding our relationships with others, specifically those we consider our family. We then moved on to the relationships we form and how to find them in the wheel. You must start with yourself because you will always be one end of any relationship possibility in your own life. The other end will be one of a number of relatives. In brief: · siblings and cousins = 3rd house · parents = 4th/10th houses · grandparents = 1st/7th houses. · natural children = 5th house · foster or adopted children = 11th house · spouses of your natural children = 11th house · aunts and uncles = 6th house · spouse or partner = 7th house · spouses children = 11th house · grandchildren and in-laws in general = 9th house · multiples of births or marriage are delineated by the skip/choose house count . Obviously you will have more and different kinds of relationships as we have explored only the family in this article. Please re-read this article as many times as necessary to clarify. This technique is not the easiest task to do and it will take you a little time to learn. For additional assistance look to articles or information on derivative house systems. Recommended reading: the three previous articles in this series • Where do You Find Mom and Dad in a Chart? The Parental Axis • Parents - Who and Where is Mom in a Chart? - The Maternal Issues • Parents - Who and Where is Dad in a Chart? Marilyn Muir, author, Presidents of Hope and Change: Bringing Hope to our Future by Reaching into our Astrological Past. How astrology predicts our nations future by reaching into our past. Jefferson, Lincoln, Kennedy, Obama... The Lineage of Hope Using the influential and interwoven cycles of Jupiter, Saturn, Neptune, Uranus and Pluto to predict issues and trends up to 2012 and even beyond to 2025, Ms Muir leaves us with the clear message of hope as she depicts the future of President Obama at the helm of the USA ship of state. Read the first 36 pages (PDF) including the charts of all four Presidents - youll get hooked!
How To Start Your House Flipping Business Step By Step : Want to start flipping houses but just dont know where to start? Do you need to set up a business? What type? What type of house flipping should you start with? What if you dont have much money? There are a million questions that can be asked. Theres so much information out there and its hard to know which is the right way to go and who to trust. Im going to cut through all of the confusion and show you how to get started in a step-by-step way. This is based on my experience and is my recommended path to getting the ball rolling. Step 1: Know Where You Want To Go We shouldnt just jump in our car and speed away without knowing where we are going. Thats crazy and a complete waste of time and money. Weve got to figure out our destination first. In my opinion, this is the single most important step in this process. You have to know your destination. It needs to be very clear and definite in your mind. An end goal of getting rich is too general and not definite enough to allow you to envision where you want to be. We need to figure out exactly what we want and how we want our lives to be so that we have a clear vision of what it is we are trying to achieve. Would you like to be able to take your family on vacations whenever you want and for as long as you want? Do you want to be able to earn profits instead of wages so that you can do this full-time and be in control of what you are doing and when? Do you want to be able to achieve all that you feel you are meant to achieve without waiting for someone to give you the opportunity? In order to do these things, we have to lay them out as specific goals. You can take getting rich and ask the right questions to figure out what you really want and why you want to flip houses. We could ask WHY we want to be rich. What would being rich do for us? What kind of things would you do if you were rich? What would your average day be like if you were rich? Answer these questions and write down your answers. Something about writing things down helps you to fully realize and remember your answers. Better yet, start a vision board. Figure out what your true dreams are and try to make them as specific and clear as possible. Try to have concrete goals that you can work towards. Narrow your focus. Step 2: Get Educated (dont overdo it) Now that we know our destination, we still shouldnt just jump in that car and peel out into the distance. That might be funny, but it would not be funny for very long. Especially when you find yourself lost and frustrated. We need to get educated so that we know the best way to get to our destination. We need to study the roads and figure out not only the shortest path, but the path with the least amount of traffic jams. The traffic jams in house flipping are the things that slow us down and make it more difficult for us to get to where we want to be. This can be things like having a ton of over-leveraged rental properties with non-paying tenants that are trashing the place and causing you to bleed money at a staggering pace. Youve probably already started your house flipping education. Well, I know you have because you are here reading this. At least you are in the right place! Thats a great start. That shows me you already know what you are doing so far. What do you need to learn and where can you learn it? In order to figure out what you need to learn, we need to figure out which house flipping strategy to focus on. Focus Your Energy On One Strategy There are a lot of strategies out there. Ive seen some really crazy and down right dangerous ones. Most typically just sound great and look good on paper but are super risky in reality. When you add the human factor to a lot of these strategies (tenants that dont pay and completely trash your house, unscrupulous investors and sellers, unforeseen costs and repairs, lawsuits, and list goes on and on), they are just not a good way to go. You have to get back to the basics. To the tried and true things that have been working for a long time for a lot of investors. My Recommended Starting Strategies (and I still use them myself) Starting with birddogging and wholesaling is the easiest way to get into flipping houses without much risk and with little to no money. These are the strategies that I feel you should focus on. I call these the strategies with the lowest entry costs in terms of time, money and experience. Give yourself a better chance of really making it by laser focusing on these two methods. Heck, just focus on one if you want. The great thing is that both of these can be learned quickly and interchanged for each deal as you see fit. Birddogging A birddog is someone that finds leads and gives these leads to an experienced investor to work. Heres how to do it: 1. You drive around and find vacant houses and send letters to the owners of the vacant houses. One of the owners calls you and tells you they are interested in selling the house. 2. You then tell another investor that has the ability to act quickly about the lead and he/she sets an appointment to see the house and makes an offer to the owner. 3. If they come to an agreement and the investor ends up buying the house, he/she will pay you a finders fee. This fee can be as much as $2,000 or more. I typically ask for $1,000 to $2,000 depending on how much potential I feel the deal has. I think most investors probably pay closer to $500 each if the leads are screened as well as I screen mine. What I mean by screening is just that I make sure the potential for a deal is really there. That the sellers have enough equity in the home and there are signs of motivation to sell. Some investors will pay small fees just for the lead (just giving the lead, whether they buy the house or not). Dont expect very much if this is the case (probably between $25-$50). Wholesaling Wholesaling is where you actually contract to buy a house and sell it as-is to another investor. There are several ways to wholesale, but in the spirit of having you narrow your focus, Im going to be discussing the assignment of contract alone. This is the strategy that involves the least risk and very little money. This is where you never take ownership of the house. Heres how to do it: So, if you find a deal where the house should sell for $100,000 and it needs $10,000 in repairs, you would want to buy it for $60,000 LESS THE AMOUNT YOU WANT TO CHARGE FOR THE ASSIGNMENT. If you want to be paid $5,000 for the assignment, simply buy it for $55,000 and offer it to an investor buyer for $60,000. Estimating repairs can be difficult in the beginning. At first, I sure was clueless when it came to what repairs cost. The best thing you can do is find a contractor (preferably one that has worked for house flippers) that can help you with the basic costs of normal repairs. Just sit down and make a list of normal repairs and what they typically cost. Some of the items can be priced based on square foot or linear feet. Market for leads (youll find out more about this further down in this article). Start taking calls and analyzing the leads. Most investor buyers are looking to purchase investment property at 70% of market value minus the cost to repair the property.The key with estimating repairs is that you will never get it the cost correct to the dollar. You are just trying to get a good estimate. Be conservative in your estimate. When you find what seems to be a deal that could work based on your analysis, you make the offer. If the seller accepts, you will sign a purchase and sale agreement (contract) with the seller that spells out the terms of the agreement. Most people use their own state approved contract for real estate transactions. I actually prefer a single page contract of my own that is straight and to the point. Most of the state contracts are full of CYA stuff for Realtors and tend to be 9 pages or longer. Talk about taking forever to get the contract signed! I dont enjoy explaining TIDE WATERS and other gobbledy-gook to sellers for several hours. Its important to make sure that your contract has and/or Assigns after the buyer name so that you can assign the contract. For the buyer name, you will use your name unless youve set up a DBA or company (read more about that below). In the beginning, its best to have an escape clause. This is where you have a statement in the contract that allows you to back out if you are unable to find a buyer for it. The clause should be simple and could be something like, This agreement is subject to further inspection of the property by the buyer. If the contract you are using has a section for a termination option, you can use that. This is typically used by buyers to pay a certain amount to be able to terminate the deal if they are not happy with the inspection or other aspect of the deal within an agreed upon amount of time. Once you have the house contracted, you take it to a title company and have it receipted. This is where you pay the earnest money you agreed to with the seller (I typically only pay $10 or $25 for earnest money. Its not a big deal unless you make it seem like a big deal (remember that). Contact your buyers and let them know about the deal. You will end up finding out who the serious buyers are by doing this. You really only want to work with buyers that take action quickly and let you know whether they want the deal or not. Dont waste your time with people that ask a million questions, like whether the bathroom toilet needs to be replaced. You are selling at a deep discount so those matters are irrelevant. Dont waste your time with these people.After a while you will develop a short list of go-to people that you can call and tell about the property. Its best to try and give them 12-24 hours each to see if they want the deal (one at a time of course). If they know there will be a lot of competition, they may not want to waste their time. If they know they have first dibs, they will be more than willing to check it out. Once youve found your ready, willing and able buyer (must be able to close by the date you specified in your contract with the seller), you will sign an assignment of contract form with them. This is just a single page contract (you can download a copy of mine here: Flipping Houses Resources Page. This assignment contract will then be taken to the same title company where you receipted the purchase contract. You could get a non-refundable deposit from the buyer to help ensure that they are serious. Good buyers will not hesitate to do this if it is a good deal. Non-refundable deposits can be as much as you want, but are typically $1,000-$2,000. When the deal closes, the title company will cut you a check for your assignment fee. Congratulations! Youve just made several thousand dollars without even owning the house. There is an alternative way to do this. This involves finding investor buyers and figuring out what types of deals they want and marketing and directing your efforts to find those types of deals. This way you can find exactly what they want so that you already have a ready and willing buyer. These investors might also help you analyze each deal so that you are buying at a price that makes sense for them (and of course you get the house for a little cheaper so as to cover your assignment fee! You do want to make some money for your efforts, dont you?) Theres no wrong or right way to go about it. Its really up to you as to which one fits better for you. You can try one method and then switch to the other or work at doing both at the same time. Your choice. This doesnt cover every possibility, but its a great introduction and good starting point for you to know what you need to learn about the process. Stay focused my friend. What if you stand to make a HUGE assignment fee? Good for you. If your end buyer doesnt like it, find another buyer. You are the one with the deal. If its a problem for them that you stand to make a lot of money for simply assigning the deal, tell them tough cookies. Thats the way its going to be. Simple as that. Why I Dont Recommend Rentals and Rehabbing - IN THE BEGINNING Rentals Some people want to start out by picking up rentals. The reason why I dont recommend that is because you should really have a certain level of cash reserves in case your places get trashed and go vacant, or tenants just stop paying and you have to spend a lot of time and money just getting them out. Rentals dont generate the kind of quick cash that wholesaling and birddogging can. Rehabbing Rehabbing is another one that I feel is better to start after gaining experience in wholesaling. This way you get a lot of experience in determining what the right prices are to buy the properties and in determining the repair costs, holding costs, selling costs and any other costs involved when rehabbing houses. Theres a lot more risk when rehabbing. If you start by wholesaling you might even end up developing a relationship with a local rehabber that can then help you to make the transition to rehabbing. Stay Focused Dont keep buying course after course trying to find that new secret way to do this easily. It doesnt exist and you are just putting off getting out of your comfort zone. Focus on one strategy, learn as much as you can about it and start taking action to gain experience and make a real go at it. Doing this will separate you from 95-99% of other people. Where To Learn Here, of course, is the best place. Im only slightly biased. But, you should also spend some time on the incredible forums over at Bigger Pockets and REIClub. These are great places to really fill in a lot of the gaps. I wanted to talk about figuring out where to start first, because when you spend time on the forums you will tend to get pulled in a lot of directions. You have to go in with a specific question to get answered. Search for answers to your specific questions and TRY NOT TO GET SIDE-TRACKED. People tend to get side-tracked easily because its easier (MORE COMFORTABLE) to just keep learning other things than to actually TAKE ACTION. Dont fall into that trap. Stay focused. Incidentally, the NUMBER ONE place to learn is on the streets. You will learn more hands down by taking action and finding out what you need to know. You dont have to know everything about a topic to get started. You should educate yourself on the basics and GET STARTED. Taking action will put you out of your comfort zone. It will be uncomfortable, but only in the beginning. Step 3: Start Marketing Youve got to find deals and you need to find buyers to buy those deals. Im a firm believer that it is much easier to find awesome deals by targeting motivated sellers. You arent looking for the right houses as much as you are really looking for the right sellers. A lot of new people think the only way to start is to find a real estate agent and have them find listed deals for them. Theres simply too much competition and the deals tend to be too slim. Its possible to work it this way, but why when it is much easier dealing directly with motivated homeowners. Marketing For Buyers It would benefit you to start immediately looking for cash investors. These are the people that you will try to sell your leads and/or deals to. Typically, rehabbers (people that fix up the houses and sell them) and landlords are going to be the people you want to find. These are the ones that are always looking for fixer upper houses, the kind you will be finding. Other wholesalers can also be great people to network with. If you are having trouble moving one of your deals, you can see if theyve got a buyer that would be interested. You would work out a split of the profits with the wholesaler if they do find a buyer for your deal. Here are some excellent places and ways to find buyers: • Local Real Estate Investor Association (REIA) meetings • Calling we buy houses advertisers (call numbers on bandit signs, yellow pages, online, etc) • Marketing your deals - you do want to market your wholesale deals (bandit signs, newspaper ads, craigslist ads, etc) • Have a Realtor look up investment properties that were sold recently and find who bought them • Calling For Rent signs • Driving neighborhoods where you want to invest and looking for houses being rehabbed Marketing For Sellers To find deals, I recommend marketing directly to motivated sellers. This is the We Buy Houses type of advertising. You are trying to find people that have a house they need to sell. This does not just mean people facing foreclosure, which is what most people immediately think of when talking about motivated sellers. There are a lot of other reasons that people will sell their house at deep discounts. These reasons could include (and are certainly not limited to): • House needs a lot of repairs the owner cannot afford to make • Person inherits a house and would rather have cash • Landlord is sick and tired of dealing with their rental property • Owner needs to relocate and sell their house fast • Divorce situation where the single owner cannot afford the house • Owner just doesnt want the hassle of selling their house the conventional way I could list the techniques on how to do this marketing, but a much better way would be to show you what I do and how I do it. And, in case you didnt already know, Ive blogged about 34 weeks of all the marketing I did and the leads that came in. Be sure to check out the first and second weeks on my blog where I show my marketing. Step 4: Start Building Your Team As you start to find and work deals, you will find it necessary to have good people on your team. These are not employees. Rather, they are people like a great closer (title company), real estate attorney, contractor (to help determine repair costs), accountant (hopefully you will need this as it means you are making money!), and a real estate agent (some are worth their weight in gold). Step 5: Set Up Your Company Heres a question that comes up a lot. People tend to get themselves stuck on these kinds of questions (including myself, in the beginning) and I think it is because it really is just another excuse to not get started. NOTE: I am not an attorney, nor am I an accountant, and I dont play one on the internet. Im not giving legal or financial advice so take these suggestions for what theyre worth. When you are starting out, there is no problem with just using your name. As long as you are conducting business in an ethical manner, there really is nothing to worry about. DBA or LLC? My suggestion is to wait until youve done a deal or two and then set up an LLC. If you want to check into which entity would be best for tax purposes, contact a competent accountant/tax person (try to get a referral from a successful investor if you can). For asset protection, contact a good real estate attorney. In the beginning, I did business with an assumed name (DBA - Doing Business As) because we were actually closing on the houses and I didnt want my name on record. When birddogging and assigning contracts, you dont take ownership at all, so this isnt an issue. Step 6: Get A Business Bank Account If you do set up a company or DBA, you should set up a business bank account. Remember, this is a business bank account and should never be used for anything other than your business. You dont want to end up with problems because you werent running your business like a business. The protections that a business provides can be eliminated if you do not run it like a business. So dont be spending money from your business account on something that is for personal use. You should consider whether you want to start one with a large national bank or a small local bank. Theyre definitely not the same. Ill discuss some of the benefits and negatives of each. Large National Bank Large national banks can be more convenient. They tend to have more options in the way of online banking and apps. The negatives that really, really grind my gears is that everything is done by their rules. What I mean is that when you try to call to find out one simple thing, you end up in a crazy labyrinth of a menu system... only to end up being hung up on just when you think you reached the right person. Another issue is that you cant typically go in and talk directly with a decision maker when it comes to a loan. Small Local Bank Small local banks are not as convenient when it comes to having branches all over the country (obviously) and online banking and apps that do as much as the large ones (though this seems to be changing quickly). The biggest benefit to the small banks is the ability to build relationships and the ease with which customer service is handled. Those are enough for me. We still bank with a large, national bank, but that will probably be changing soon. I cant even deal with them anymore. Anytime there is a problem, Melissa (my wife) has to handle it. And I thank her very much for that. Step 7: Grow Your Business When you start making money, be sure to reinvest it back into your business. OK, you should use a small part of it to celebrate your success. But the rest needs to go back into marketing and building your company. The first years are the most difficult and you have to do your best to build a strong company. Spending money on marketing can be hard at first. It sure becomes easier after youve made a couple grand with a simple birddog deal or several grand wholesaling a house. Dont be afraid to spend money on marketing. Make sure you are always planning your strategy and keeping an eye on your goals. Please be sure to figure out why you really want to do this. Step 1 above is the most important of all of these steps. Believe me. Rehabbing Rehabbing is where you close on a property, fix it up and sell it to an end buyer that is either going to live in it or rent it out. The logical progression for most people is to go from birddogging, to wholesaling, to rehabbing. With rehabbing you will need a source of money, insurance, contractors, patience, design sense, creativity, a desire to turn a dump into a beautiful home. Did I mention patience? Good.
Any content, trademark’s, or other material that might be found on the Conantheadventurer website that is not Conantheadventurer’s property remains the copyright of its respective owner/s. In no way does Conantheadventurer claim ownership or responsibility for such items, and you should seek legal consent for any use of such materials from its owner.