Just watched the Youtube video and just used the calculator to run the numbers on my first house ever under contract and it seems like I got a good first house under contract.
Just watched the Youtube video and just used the calculator to run the numbers on my first house ever under contract and it seems like I got a good first house under contract.
@Joshua D. looks like a great tool for wholesaling. Hope it gets to all the right people. I will surely use it for myself and we don't currently wholesale. Thanks so much! Tom & Roni.
LOL, I think BP has officially crossed over into guru land..... I've wondered about that for over 5 years, now I know...... oh well.....
I'll check it out sometime, it's probably correct in the number crunching, no doubt!
What I'm seeing is a swooping in on wholesalers, with more "it's easy, all you need, step by step" stuff.
Not saying it's not a helpful tool, but there is no calculator, no software program, no method or system that turns wholesaling into a simple business operation where all information is subjective, in other words, just numbers or black and white and whala there it is. You still need knowledge to be able to put in the right data and be able to look objectively at each deal.
However, if you supplement (add) knowledge along with that tool, it might be a powerful advantage. Just understand, nothing in real estate is simple or accomplished step by step. :)
@Joshua D. listened to most of the tutorial and it looks like a good tool to use on a sales presentation. It isn't something I'd use but want to mention that unless your wholesalers in Oregon have the ability to close and do, they are considered by the RE Agency as selling RE without a license. Just sayin...
@Joshua Dorkin. Thanks for making BP better yet again. Just a quick note. A couple of the links to the calculator in the blog post might be broken. I clicked on the last one and it took me right there. And so did the link under the "Analyze" tab. Adios.
I recommend reading it, watching the video, and trying it out.
If then, you still think we're crossing into guru-land, feel free to shout it from the rooftops.
No one said wholesaling was easy - in fact, we typically say the opposite.
Wow, guess I got called out, LOL, hope everyone sees the LOL at the end of my guru land comment, it was the $29.xx whatever monthly that caused me to joke about it.
I said I hadn't been through it and that I would. My other comments were to the "lead in" on the marketing aspect, "all you need" to point out that garbage in will get garbage out and they still need to know more than a step by step process.
I know we are on the same page, I have confidence that it is a good tool in the bag of tools.
Josh, if my opinion is counter to a BP product, which hasn't happened, generally only commenting to a few slivers of something, I comment but I'd never shout it from the roof tops, if there were something really questionable I'd PM you privately. I'd say I'm supportive and thought I was above too.
You know I appreciate your work of running BP and keeping the newbies safe. Now, that Brandon guy can get a little carried away at times.....LOL!
I'll run through it and get back later, I'm sure it's good, it's no hill for a stepper! :)
@JoshuaDorkin The wholesale calculator is great! I just joined as a pro member just so that I can have unlimited access to it! Of course, I will enjoy all of the other benefits of being a pro member but the calculator sold me! Will you be adding a land option on it, as well? I have some land that I am looking at but the calculator does not work for that.
Thanks for a great meeting place, the podcast, books, resources, etc., etc., etc.
Maybe someone already mentioned this, but I haven't read all the comments yet. Do you think you might add an option to default some of the fields to a % of something else (ARV, resale price, etc)? I know it's asking a lot for a "free" tool, but for pros I guess it's something they'd be paying for in a way...although, how many pros will use this vs their own Excel spreadsheet that likely has a reporting sheet as well? I think it's a great tool so don't mistake this as criticism, just a question.
@Joshua D. , the calculator rocks so far, near as I can tell! One question, if anyone else has noticed this or if it's just my computer: I ran a rental wholesale analysis w/itemized repairs, generated the PDF, and came back to edit it. When I did and went back to the repairs section without hitting itemize, my repair total had doubled, but when I hit itemize my numbers were the same. It didn't affect my outcome when I regenerated the report, only displayed it during that edit step. If it's just me, please let me know, and thanks again!
@Joshua D. meh, probably just me, would be easier for everyone else that way; thanks for getting back to me.You guys released the calculator just in time for a couple of potential new deals, so I get to play with it and see how it pans out right off the bat. Great work fellas!