Wholesaler · Milwaukee, WI · Member since 2012 · 138 posts · 27 votes
This afternoon I got my first property under contract! My wholesale intentions full disclosed! A fully rented duplex with $1350/mo in rents! Now the fun part, shopping it to my buyers!
Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
13y
Excellent work
Can you provide more detail information
no specific address , please
such as :
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
square footage
condition of property ( work need )
aged of property
photos , if okay by bigger pockets standards
arv
owner occupied ,, non occupied
county only - if milwaukee ( northside , southside , etc )
Have you created a website
FYI - good timing for you
Reason - you can broadcast at next week local rei meeting
Wholesaler · Milwaukee, WI · Member since 2012 · 138 posts · 27 votes
13y
Jenkins Ramon The general info:
Built 1961
1976 sqft
Each unit is 3/1 (Upper/Lower)
Work: New entry door, paint & carpet, minor aluminum soffit fix, a down spout needs to be put back up.
New Furnaces, windows & Water Heaters
Tenants m/m one tenant been there for 2.5yrs and the other almost 2yrs.
I was excited about getting this under contract just before the REIA meeting! Now, the absolute hardest part is to get myself to get up in front of the group to pitch my deal! Not. Good. In. Front. Of. Crowds... Already getting hot thinking about it!
Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
13y
you will be okay
Next Tuesday - FYI -> I have to work, but you will do fine -
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
... breathe in and out
.... visualize someone you feel comfortable talking in front of
..... feeling of urgency
( example - you most move the property too food yourself )
Regardless, put together all details of property on a
piece of paper and leave it on local rei meeting table
( your contact information will be important )
address example - 2900 hundred block of South 91st -
This way your information will definitely get out to other investors
Wholesaler · Milwaukee, WI · Member since 2012 · 138 posts · 27 votes
13y
Jenkins Ramon Thanks for the confidence! I am going to put together a information flyer so I can put some out on the table along with my business cards.
Wholesaler · Milwaukee, WI · Member since 2012 · 138 posts · 27 votes
13y
Orlando Centeno Thanks! I saw it on Craigslist and called the seller. I check craigslist like 10 times a day! Seriously! I caught the ad within minutes of being posted and called immediately!
I walked through the property and then just had a fully open conversation about my intentions or wholesaling the property.
Real Estate Investor · Milwaukee, WI · Member since 2012 · 56 posts · 3 votes
13y
Wow!! Cant believe I missed it, lol, im on CL all the time too. Well when im not working.
Well again congrats, its very exciting to read about someone so close to home getting things done. Let me know if you are ever interested on working on a Joint Venture deal.
Wholesaler · Milwaukee, WI · Member since 2012 · 138 posts · 27 votes
13y
Well, the property went public today. I let a handful of my personal buyers know about it first and told them it was going public this morning. So, First thing this morning while I was posting my ads on Craigslist for buyers and sellers I posted the ad for my Duplex. Then during my lunch I spent time creating a postlet (first time user) and it was pretty darn easy... EXCEPT they messed up my phone number verification so now I have to contact postlet help to get my number verified before the ad can go public. I also started creating a Kijiji ad, but am having issues uploading pictures to it so I will have to attempt that one from home.
I already have a showing setup for Thursday and possibly another one for tomorrow... may push it to Thursday as well just so I am not disturbing the tenants any more than I already have to. I may be trying to sell it, but they are trying to live.
Just wanted to keep everyone up to date on how it is going!
Wholesaler · Milwaukee, WI · Member since 2012 · 138 posts · 27 votes
13y
Dawn A. I dont know. I have not talked to them and dont know if the owner has either. It wouldnt hurt to offer it up to them I guess. Thanks for the tip.
Wholesaler · Milwaukee, WI · Member since 2012 · 138 posts · 27 votes
13y
One question in this process... well maybe a few... but one for now.
At what point do I tell a prospective buyer this will be an assignment deal and what if they do not really understand and it scares them off? When do I show them my PSA? Obviously wouldnt they want to know the terms of the PSA before signing an Assignment with me??
Wholesaler · Milwaukee, WI · Member since 2012 · 138 posts · 27 votes
13y
Well, last night I got up in front of my local REIA during the "Wants and Needs" open mic time. My heart just started pounding right now thinking about it! Hahaha! I really have a fear of speaking in front of crowds... needless to say I bombed! But at least I had flyers printed up and set out for the Duplex I am selling. Some of the details I forgot to mention while trying not to die in front of everyone was Monthly Rent, Bedroom & Bath information. Seriously, Im almost sweating thinking back to my 15 seconds on the mic! Hahaha! I am fine in groups of a few people, but amplify my voice and put me in front of a room full...
My anxiety aside, it was a good meeting. I meet several of my fellow BP members there, Jesse Tsai Orlando Centeno and Kay Mays. I even signed up for their weekend long boot camp next month. I am not one to spend money on coaching or other peoples ideas, but I figure if it gets me one deal it pays for itself. The networking will be worth it. There are people who buy plane tickets and hotel rooms to network, so a boot camp seems worth it. I also need to work out my anxieties of speaking in groups, this may help. :)