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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