A career after serving in the military is hit or miss for a lot of people. Some choose to stay within the military space; others go for something outside their comfort zone, which is what our guest today aims to accomplish. Ralph Garcia is a US Army veteran but is now looking to build a stable career as a real estate investor. While he does have a few deals under his belt, he still has a lot of questions regarding how the industry works, particularly the ins and outs of a standard transaction.
Today, Ralph joins me to inquire about the more intricate details regarding real estate transactions and auctioned properties. He shares his life in the military, his career as a loan officer, and his transition to real estate. I share my thoughts on auctioned properties and describe why some of them are bad for business. I also share resources in finding property addresses as well as the strategies I use when it comes to transactions involving vacant land.
“Prepare for the worst and hope for the best. That will always make you a better and more prudent investor.” – Don Costa
On Today’s Episode of Flip Talk:
- Why Ralph became interested in real estate.
- Property auctions and whether or not they’re good for business.
- Ralph’s first deal and how he’s currently managing his business.
- How to approach contracts that involve large vacant lands.
- The title officer’s function in the transaction.
- How payoffs factor into the wholesale process.
- Free resources you can use to skip trace homeowners.
- Where you can ask for a list of defaulted property taxes.
Don’s Tips for Getting into Real Estate Investing:
- You want to simultaneously open escrow and start marketing the contract.
- Unless your choices are limited, never close a Sight Unseen deal.
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