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Dec 24, 2018

 

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.

 

 

Resources Mentioned:

 

 

 

 

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Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie Play Book and FlipTalk’s REI Round Table. Share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.

 

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