All Forum Posts by: Raphael Vargas

Here is something to Help All differentiate Block by Block in Baltimore if an out of state Rental investor like myself.

http://planning.baltimorecity.gov/sites/default/fi...

Stay in D, E, F Neighborhoods.

I like values between 90k-130k ARV.

My Bud owns 750+ Rentals in the City. Mostly all SFR.

This is the guide he taught me and I now use.

Though Section 8 is slowing/stopping new Vouchers and the Voucher tenant rent rate is slowly decreasing.

Was much more favorable 3 yrs ago, but still good to this day for the right deals.

But, Market Tenants may be the new clientele for these rental areas very soon.

Especially with Budget cuts on HUD.

Good Luck all!

@David Faulkner I'm Confused. Can you Elaborate?

@Account Closed  Yes, I actually spoke to both of them via phone the same day. Great Advice from both. PM'ing you Direct Brad.

Thanks to All who gave valuable Feedback

@Account Closed Great Info Shared my friend.

So you purchase with Hard $$ and Immidiately put back on the MLS?

If you dont mind me asking, what market are you in?

Also, The way we determine our Price is typically looking at what investors are buying similar properties for at their investment price. (ex. Analysing Renovated properties and checking the Acquisitions price of that investor or Seeing Cash transactions for AS IS properties).

How do you determine your offer range to homeowners?

Are you doing a potential scope of work with contractors and analyzing based on reno/costs etc then profitability? 

Thank you sir

@Lucas Machado Thank you for sharing that topic sir!

Great Info.

In your experience, when posting back on the MLS as a Rehab deal..Do you typically get offered more than what you expected or less?

That is a big risk as we move into this as well. 

Though, We have made very tight Wholesale deals profitable when we market the deal on the MLS and got Offers from buyers we didn't have prior relationships with.

(Ex. We locked a house down 80k we put it on MLS and Sold for 95k. But none of our Personal Buyers Offered over 80k. Saved the Deal)

Although we dont want to do that, bc again, We would rather have full control and Close as the Seller expects us to for a better service to the seller and a more reputable brand.

You right, That was a Typo. I meant Dependant on the "Buyers word".

Thanks for the Great Info.

As you know running a Company, Incurs many expenses.

I wish I can say we have made NET Millions in a year, as we have only been in serious Revenue business for 2 years. The first 2yrs were my mistake/learning years :)

And, As you know...Putting all your Cash into Every Asset, (10+ homes/month), isn't the Healthies/Safest Investment.

We have a LOC, although it takes time to grow a relationship with that bank and increasing the amount.

Also, the Restriction with that is just in one market. (Hence Local Bank)

They do not lend outside of our market.

Because we are in Baltimore/DC/Tampa this again brings up restrictions.

Any other Helpful Suggestions?

Thank you Gents for Acknowledging the Issues once Again.

Do either of you two know a solution from converting from the Assignment (which we fall out of deals very rarely, though it happens) into the Purchasing and Reselling business?

Any Helpful insight would be appreciated.

Hello All!

We are in 3 Different Markets.

Expanding into different markets and growing, though we have a problem.

Reputation and Buyer Dependancy. 

There is a DEEP Love/Hate Relationship we have with Wholesaling (Assignments).

The Love: No Risk. High Profits. Leave Contract, No Problems.

The Hate: Dependance on other buyers word..(One of the worst). Reputation with Sellers, Not Actually purchasing the home. Having to play in the "Grey" Zone and not in the Black and White.

To grow a Serious company with a Strong Reputation we need to be moving toward CLOSING then RESELLING on the Open market (As some call it, REAL Wholesaling).

Anybody Actually doing this on a High Level in multiple markets?

If so, would love to discuss.

Sup Guys,

To all those that run a Successful Real Estate Investing or Wholesaling Business with multiple people on your team..

What do you track in your business?

What are your most important numbers?

Every Business and owner will have diffrent priorities in what they track.

But in the Book Traction (a practical AMAZING business building book) It talks about Creating a Company Scorecard to "Track your numbers" and review on a weekly basis to catch the trends in your business and begin growth.

To my Successful Entreprenuer buds, What do you guys track?

Here is what I track and manage on a weekly basis in my wholesale business..

-Deals in pipeline (Not closed)

-Direct Mail Sent

-Outbound calls Made (cold CAlles)

-Leads produced

-$$$ Closed

-Appointments set

-Inbound Calls

-Sales Calls (Leads in CRM Called)

-Contracts

-Contract Lost

Let me know if you Guys hace read the Amazing book Traction by Gino Wickman and have created your own company scorecard!

Please share the things you track/manage/watch on a weekly basis.

Much Love

Raphael Vargas 

Washington DC

Read the Book "The E-Myth" by Michael Gerber.

You'll Learn a lot about building a Real Business there.

Hello, In My Experience... DC is the Hottest and still most up and coming/stable market in my opinion. I've only flipped properties in DC, but Im from Springfield VA. Northern VA is much harder to come across GREAT Fix/Flip or wholesale deals. DC and PG county are more abundant in Distressed Old full of Equity properties.. This is why everyone and their mom markets to those areas using these boring postcards or letters. Which means.....you must have unique marketing strategies that work to get Real Deals ;) Would love to connect with you. DM me if interested. Thanks Raphael Ace Equity Pros