Looking for a partner Louisville Ky.

[Joseph King]

Please see the attachments for the analysis and description. Please email [email protected] 

[Account Closed]

@Joseph King Have you checked this guide out?  

https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/

Also, I did also want to give you some feedback as well (since I'm constantly looking for wholesalers to bring me good deals in this area and you have potential to be a great one given enough time and diligence).  

If possible, when you bring deals to a buyer, look at it from their perspective.  What information could they possibly want from you?  Bring them a package that they can glance through and do all the necessary diligence within a few short minutes.  What shouldn't need to happen is the buyer having to go out of the package and online to verify or look up more information.

When you sent me the package the other day for the multi-family in Louisville, the comps were all over the place.  To be candid, after you sent them (after I prompted you to), and I saw they were so different, I didn't even continue forward.

Without showing addresses, here were the comps provided:

BR/BA Sq Ft Year Pricesold Datesold  

3/2 1620 1925 46,675 10/15/2015

3/2 1350 1925 60000 6/10/2015 

 2/2 1998 1923 95000 12/22/2015 

 3/2 1796 1920 59000 5/19/2015 

3/1 1788 1929 90000 6/8/2015 

3/1 1768 1915 48000 10/1/2015

So, a couple of things; 
1) the BR/BA range from 2/2 to 3/1 to 3/2.  No good.  Try to keep it the same or as close as possible (for example, if subject is a 3/1, try to keep to 3/1 or maybe a 3/2.

2) Square footage is all over the board here as well, from 1350 to 1998. That's a huge difference in terms of SFR and could make tens of thousands of dollars of difference in ARV.

3) Price sold ranges from $46,675 to 95,000.  That makes the comps worthless to me.  I have no idea where to start (well, I do, but it simply means I'd have to go back and comp them myself, which I'm not interested in doing if I'm working with a wholesaler.
4) The dates sold go back almost a year.  I'm not interested in seeing any sold properties older than 6 months; preferably 3.

You're going to be wholesaling to investors.  I'm a flipper (rehabber).  I'm going to have different criteria than a strict buy and hold person.  The end buyers are going to be very clear (or should be) about what they're looking for.  Use that to your advantage.  Give them only what they want and nothing else (though you can certainly ask at any time).

Also, based on a comment up above, you may not have had that property under contract that you sent to me the other day.  It would've seriously frustrated me had I spent time looking at the property with the intention of moving forward with you, only to find you hadn't locked the property up under contract.  As a wholesaler, I expect at the moment you contact me, you have the property locked up with the seller under purchase contract. 

If you don't, at the point you contact me, you're simply a bird dog, which is a MUCH LESS valuable service.

....

Don't stop.  You're providing a valuable service to investors.  Continue to get better.  Take this thread as valuable feedback (even the seemingly harsh words earlier in the thread, which were gold to you, in my opinion.  Don't take them personally in any manner.  That's not how they were meant.  Take them and use them to become better).

Keep rockin'.