Looking for help to find which deals to execute on
Member since 2024 · 80 posts · 31 votes
Looking for help to find which deals to execute on
Most Popular Reply
Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
11moQuote from @Drew Mullin:
@James Hamling yes I have learned a good bit in cost overages this year lol. Thanks I appreciate the ideas - would cut out reason for competition that makes sense
From what I read here on your other responses, my best advice is go get a Real Estate license.
There is no downside to this, only upside.
Think of this more like getting a membership to a semi-exclusive club. Your seeking to learn things but it's more about proximity, access, network.
Your weakness in comp, it will fix that.
And it's going to teach you how to properly source deals because wholesalers is NOT the way. Wholesalers are your competitors, not your friends.
Wholesalers are extractors, that's literally their job, to achieve maximum extraction from a deal. That is fundamentally opposed to you the flipper where you are seeking maximum margin.
There is a handful of legit wholesalers still operating the "old school" way, where we are win-win. But they are ever so rare today, not just a needle in a haystack but more so finding a specific color of needle, with a specific bend to it, in a stack of needles in a hay barn.......
How to find a "deal" is so much simpler than people make it out to be.
Your a Flipper, so what problem are you solving? You take physically distressed property, to market standards, for profit.
Ok, so now you have your target asset, physically distressed. And not just any kind right, structural is hard to make $, cosmetic is where the $ is, right.
What property situation best fit's that? Estate, right. Or aged persons transitioning.
Decent homes that are 20, 30 whatever years outdated, assorted deferred maintenance.
Now understanding your target demographic, it's just putting together a highly refined detail of exactly who they are. From there it's just about making your vehicle of how you pitch to them, and how you get that pitch in front of them.
If you go where these people are, make a simple pitch, not pushy just detailing who you are and what you do. I guarantee if you spend the hours going door to door, yes literally door 2 door, presenting self and talking to people, you will get 10X the deals you'd ever get trying to pitch your buy-box to a bunch of wholesalers or agents.
See, even this comes down to having a correct system in place.
Name the big-name established pro you look up to, any, name em, did they get there via begging wholesalers to feed them? Nope.
Dependency NEVER paves a path to freedom.
Independence is the only path to freedom.
On the buy side you want to be laser focused with being direct with sellers, no exceptions. That is your focus. Sure, you allow others to bring deals to you but that need never be your focus.
Your focus need be, be a solution provider. Be a service to the community. And then let them know you exist.
Being a Flipper should be a service to the community, not an extractor from-it.
Being an agent, get with a good team, or group, who's going to train the snot out of you and circle with great mentorship, your gonna get everything you ever imagined and so much more.
13 Replies
- Investor · Chattanooga, TN · Member since 2023 · 177 posts · 109 votes11mo
Drew,
Much respect for getting two flips under your belt. Most people never take the first swing.
Here’s the truth:
If your margins were only “okay,” the issue probably wasn’t construction or resale…
…it was the buy box + underwriting going in.A few quick insights to course-correct:
1. You need a tight MAO (Max Allowable Offer) formula
Run conservative comps. Bake in risk. Always leave room for surprises.2. Deeper due diligence upfront
Avoid what-ifs and emotional buys. Data > excitement.3. Find a mentor with local knowledge
Not YouTube hype. Someone who knows which blocks win and which blocks sink deals.5. Shift from chasing deals to aligning solutions
Sometimes the best flip is the one you pass on.Your next partner shouldn't just be “successful.”
They should be available, operational, and aligned with the way you want to serve sellers and communities.If you’re open to it — drop your market, deal criteria, and recent numbers (quick snapshot). Happy to help you tighten the analysis and create better margins before you jump into the next project.
Good flips are bought with a calculator — great flips are bought with a calculator and discipline.
– Joshua “Sarge” Hardin
Veteran | Real Estate Investor | Legacy Builder - 11moJaycee GreenePro MemberReal Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
Quote from @Drew Mullin:
I need someone's help to help analyze deals and to more or less tell me which to execute on. I'm an investor that is looking for off market properties for fix and flips. I have done 2 with only ok margins and I need to increase my profit.
I need someone local to help me with this, if someone is successful atm and willing to spend time with this could figure out some way of monetary compensation for time and help. Or Jv structure. Person would have to have a successful portfolio of recent transactions. ThanksHey @Drew Mullin Are you targeting a certain property type? Certain area/zip code? Price poitn?
- Member since 2024 · 80 posts · 31 votes11mo
Quote from @Jaycee Greene:
Quote from @Drew Mullin:
I need someone's help to help analyze deals and to more or less tell me which to execute on. I'm an investor that is looking for off market properties for fix and flips. I have done 2 with only ok margins and I need to increase my profit.
I need someone local to help me with this, if someone is successful atm and willing to spend time with this could figure out some way of monetary compensation for time and help. Or Jv structure. Person would have to have a successful portfolio of recent transactions. ThanksHey @Drew Mullin Are you targeting a certain property type? Certain area/zip code? Price poitn?
Yeah Dade and broward co under 500 w rehab
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes11mo
Some counter-thoughts for you @Drew Mullin
I disagree this resource person need be local, actually I think it best if they are NOT local.
First, if limiting the "pond" to local, that's 1 very small circle of potential people. Vs NOT local, is an absolute ocean of talent to draw from.
Second is conflict of interest. A Non-local person should be aligned to 1 interest and 1 only, YOU. A local person, doing the same strategy as you, that's a competitor buddy.
In my experience, as I was a high volume flipper and in years since have helped assorted person with tips, tricks and advice (no, never did the guru or package thing, no compensation just friendly helpful advice) I have found most often the problems are in systems.
Most tend to get the buy side of things, having to buy right. But over building, under building, wrong design, hemorrhaging $ on renovation operations, that's all too common.
The key with being a professional flipper is not squeezing more juice out of any 1 deal. It's about systems and scale. Having a proficient system in place that operates profitably, efficiently, providing ability to scale.
Because every instance I have seen where people try to squeeze too much, it costs time. Time is $. And that time costs scale.
You should be asking how you can scale your operation, not how to squeeze more juice from the half wrung pulp. And with that gain greater efficiency, which that efficiency will = $$$$.
To exist in the space a person needs to have no less than 2X, if not 10X, deal in the pipeline at any given time too what they have in operational capacity. Because this breeds cherry-picking. And sustained operations.
Variable on-off operations explodes costs when flipping. Consistency is king.
- Member since 2024 · 80 posts · 31 votes11mo
@James Hamling yes I have learned a good bit in cost overages this year lol. Thanks I appreciate the ideas - would cut out reason for competition that makes sense
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes11mo
Quote from @Drew Mullin:
@James Hamling yes I have learned a good bit in cost overages this year lol. Thanks I appreciate the ideas - would cut out reason for competition that makes sense
From what I read here on your other responses, my best advice is go get a Real Estate license.
There is no downside to this, only upside.
Think of this more like getting a membership to a semi-exclusive club. Your seeking to learn things but it's more about proximity, access, network.
Your weakness in comp, it will fix that.
And it's going to teach you how to properly source deals because wholesalers is NOT the way. Wholesalers are your competitors, not your friends.
Wholesalers are extractors, that's literally their job, to achieve maximum extraction from a deal. That is fundamentally opposed to you the flipper where you are seeking maximum margin.
There is a handful of legit wholesalers still operating the "old school" way, where we are win-win. But they are ever so rare today, not just a needle in a haystack but more so finding a specific color of needle, with a specific bend to it, in a stack of needles in a hay barn.......
How to find a "deal" is so much simpler than people make it out to be.
Your a Flipper, so what problem are you solving? You take physically distressed property, to market standards, for profit.
Ok, so now you have your target asset, physically distressed. And not just any kind right, structural is hard to make $, cosmetic is where the $ is, right.
What property situation best fit's that? Estate, right. Or aged persons transitioning.
Decent homes that are 20, 30 whatever years outdated, assorted deferred maintenance.
Now understanding your target demographic, it's just putting together a highly refined detail of exactly who they are. From there it's just about making your vehicle of how you pitch to them, and how you get that pitch in front of them.
If you go where these people are, make a simple pitch, not pushy just detailing who you are and what you do. I guarantee if you spend the hours going door to door, yes literally door 2 door, presenting self and talking to people, you will get 10X the deals you'd ever get trying to pitch your buy-box to a bunch of wholesalers or agents.
See, even this comes down to having a correct system in place.
Name the big-name established pro you look up to, any, name em, did they get there via begging wholesalers to feed them? Nope.
Dependency NEVER paves a path to freedom.
Independence is the only path to freedom.
On the buy side you want to be laser focused with being direct with sellers, no exceptions. That is your focus. Sure, you allow others to bring deals to you but that need never be your focus.
Your focus need be, be a solution provider. Be a service to the community. And then let them know you exist.
Being a Flipper should be a service to the community, not an extractor from-it.
Being an agent, get with a good team, or group, who's going to train the snot out of you and circle with great mentorship, your gonna get everything you ever imagined and so much more.
- 11moHersh ShahBusiness MemberRealtor · Atlanta, GA · Member since 2016 · 120 posts · 80 votes
Quote from @James Hamling:
Quote from @Drew Mullin:
@James Hamling yes I have learned a good bit in cost overages this year lol. Thanks I appreciate the ideas - would cut out reason for competition that makes sense
From what I read here on your other responses, my best advice is go get a Real Estate license.
There is no downside to this, only upside.
Think of this more like getting a membership to a semi-exclusive club. Your seeking to learn things but it's more about proximity, access, network.
Your weakness in comp, it will fix that.
And it's going to teach you how to properly source deals because wholesalers is NOT the way. Wholesalers are your competitors, not your friends.
Wholesalers are extractors, that's literally their job, to achieve maximum extraction from a deal. That is fundamentally opposed to you the flipper where you are seeking maximum margin.
There is a handful of legit wholesalers still operating the "old school" way, where we are win-win. But they are ever so rare today, not just a needle in a haystack but more so finding a specific color of needle, with a specific bend to it, in a stack of needles in a hay barn.......
How to find a "deal" is so much simpler than people make it out to be.
Your a Flipper, so what problem are you solving? You take physically distressed property, to market standards, for profit.
Ok, so now you have your target asset, physically distressed. And not just any kind right, structural is hard to make $, cosmetic is where the $ is, right.
What property situation best fit's that? Estate, right. Or aged persons transitioning.
Decent homes that are 20, 30 whatever years outdated, assorted deferred maintenance.
Now understanding your target demographic, it's just putting together a highly refined detail of exactly who they are. From there it's just about making your vehicle of how you pitch to them, and how you get that pitch in front of them.
If you go where these people are, make a simple pitch, not pushy just detailing who you are and what you do. I guarantee if you spend the hours going door to door, yes literally door 2 door, presenting self and talking to people, you will get 10X the deals you'd ever get trying to pitch your buy-box to a bunch of wholesalers or agents.
See, even this comes down to having a correct system in place.
Name the big-name established pro you look up to, any, name em, did they get there via begging wholesalers to feed them? Nope.
Dependency NEVER paves a path to freedom.
Independence is the only path to freedom.
On the buy side you want to be laser focused with being direct with sellers, no exceptions. That is your focus. Sure, you allow others to bring deals to you but that need never be your focus.
Your focus need be, be a solution provider. Be a service to the community. And then let them know you exist.
Being a Flipper should be a service to the community, not an extractor from-it.
Being an agent, get with a good team, or group, who's going to train the snot out of you and circle with great mentorship, your gonna get everything you ever imagined and so much more.
Yes!!!! Great points @James Hamling
Hersh Shah Group4.9113 Reviews
- 11moJaycee GreenePro MemberReal Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
@Drew Mullin So, something like this: 1817 NW 90th St, Miami, FL 33147?
- Member since 2024 · 80 posts · 31 votes11mo
@Jaycee Greene maybe? I looked comps don't look terrible but I don't trust my skills w that?
- Specialist · Member since 2025 · 483 posts · 270 votes11mo
You don't need a "local guru"; you need a tight buy box, a fast screen, and paid-at-close accountability. Post your exact buy box and proof of funds to local investor groups, title reps, and investor-friendly agents, then onboard wholesalers with a simple rule: no address, real comps within a tight radius, photo set, repair scope, and their ARV math, no review. Track each source's hit rate and spreads in a sheet, promote the top two who bring you deals that appraise and close, and cut the rest. Parallel path: work agents for pre-list fixers, probate, and expireds where you can negotiate terms and time. Next step this week: publish your buy box, call two title companies for "who actually closed assignments last 90 days," and build your A-list from results, not promises.
- Member since 2024 · 80 posts · 31 votes11mo
Thank you! I'm struggling w comps I guess- like I don't trust myself atm w them lol? What do you mean by onboard wholesaler- contact them?
- Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes11mo
I can only vote once for what @James Hamlingsaid, but it's worth reading twice.
Only addition I have: A very common mistake I see is that flippers focus on repairing things. You have to do that and put a product out you can proudly stand behind, but that's not where you make money. Great design is the secret sauce, as it often does not cost much money to install, but will yield the majority of your profits.
- Real Estate Agent · Member since 2023 · 831 posts · 577 votes10mo
@Drew Mullin
If your margins have been tight, the biggest gains usually come from buying better and managing rehab tighter. Sometimes just bringing in a local agent or experienced investor to help you run comps, confirm ARV, and tighten up repair estimates can make help big time.If you’re set on finding someone local, look for an investory friendly agent who has experienced in flipping.
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