All Forum Posts by: Adam M.

THERE WILL BE ANOTHER CRASH. Predicting the exact timing is what's "impossible", but you can be close enough when you look back into history. Three important things to focus on most in real estate are: 1. Jobs 2. Deals 3. Cost of money Everything else is noise and b.s. Based on reading your profile it sounds like you're just getting into this game. As long as you buy right you'll never lose money. Buying right is not just how low you on price you buy a property for either. You can also buy a property with amazing terms. PRICE OR TERMS. (Deal structure) There is nothing else important involved in buying right until you get a great deal with one of these factors or both. The only time you actually lose money in a down market is when you sell. As long as the bills are paid why sell based on fake money.. I mean equity? Unless you got terrible terms on your loan (cost of money). There's different strategies that perform as their highest in each market cycle. Unless you buy a house in the middle of nowhere (no local jobs) then it doesn't matter what's going on in the market as a whole, it was the wrong location. In my opinion, wholesaling is the absolutely best strategy during a sellers market. I don't care how long it goes for either. It can be a sellers market for 25 years and wholesaling still is the best strategy during this time period. The point is a literally don't give a blank what's going on in the market. I care about what's going on in my head. There's always going to be a strategy that works no matter what's going on. Don't sit back and wait. I got started in 2011 at the very bottom of the market and wish I was able to buy then so bad but why look back on that when I'm doing deals up till now? Get in the game! "You miss 100% of the shots you don't take."

Wholesale Deal in Robinwood 75% of ARV!
ARV: $141,265.00
Fix Estimate: $5,000 for Rental; $17,665 for Flip
Rent estimate: $1500 - $1700/mo
Your Buy Price: $105,000.00

EMD: $2,000.00 (excluded in purchase price prior to closing)
Closing: December 30th by 5:00pm
Possession: Property delivered vacant at close.
Access: By appointment

Buyer is responsible for own inspections and due diligence.

Recent Sold Comps All 3/2 at 1177 sqft

18103 E Kentucky Ave #102 Aurora 80017 Sold Price $130,800

18106 E Ohio Ave #102 Aurora 80017 Sold Price $131,220

18155 E Ohio Ave #102 Aurora 80017 Sold Price $135,600

18021 E Kentucky Ave #103 Aurora 80017 Sold Price $140,000

18091 E Kentucky Ave #202 Aurora 80017 Sold Price $145,000

18034 E Ohio Ave #103 Aurora 80017 Sold Price $148,000

18193 E Kentucky Ave #204 Aurora 80017 Sold Price $149,500

18106 E Ohio Ave #104 Aurora 80017 Sold Price $150,000

Please contact me here on Bigger Pockets if you are interested in the deal so we can schedule a time for your inspection/walk through. Serious cash buyers only. (Due to time frame) Will not "co-wholesale" this deal. If there is something you deem inaccurate or that doesn't fit your numbers, no need to rant or post it on here. That's why you do your own due diligence and each buyer has their own criteria on what works for them.

@Jackson Long Same here. It used to be real sellers on there and but things change. I'm sure Zillow and Trulia will find ways to screen people who post on there. So far Zillow is the Wikipedia of real estate. Anyone can edit anything including the "zestimate".

Brokers are representing clients. Investors have principle interest and are an actual party involved in the transaction. They are related but it's more like cousins, not brother and sister. Contracts are simple. You can write it on a napkin and the title company's closing officer can help you through the rest. Using the states contract or one from an investor in your area would be fine. It may even be worth spending $250 to have an attorney draft one for you to use. No confusion if an attorney drafted one specifically for you to use but it's not necessary. All contracts are assignable unless it states otherwise. The only way you'll be acting as a broker is if you hold open houses, plaster the property's full address all over the Internet with photos, etc. This is where a strong buyers list comes first before worrying about looking for deals. If you don't have at least 20 super duper serious ready to go with that cold hard cash burning a whole in their pocket buyers, then nothing else matters at first! Not trying to be dramatic but getting your first deal is dramatic. It's life or death in changing your future. If you're only marketing the contracts for sale to your buyers list, that is not brokering a deal. You're simply bringing in a funding partner, right? That's what it is. If you cut out all this guru BS lingo about "wholesaling" your mind becomes clearer to what the truth is. When you market a contract for sale you're marketing a briefcase full of cash and a discount. "Hey Mr. buyer, help me fund this deal and get this close and I'll just take $5,000 out of the potential profit of $40,000, deal?" Assignments are a legal way of transacting business, keeping commitments in place and people to their word. Anyway, you want a buyers list because they can provide a lot of the things you're concerned about. If you found a deal at 70% of ARV and asked one of your buyers to help you get it done, you'll learn a ton from that alone. Buyers want you to bring them deals repeatedly, you'll be surprised at how much a real buyer is willing to help if you bring them deals. Dont stick to just a handful of buyers forever but it's like a mini mentorship in getting your first few deals.

That's interesting it turned into a jpeg. Listsource has different ways you can download a list such as csv and xls. Did you get it figured out? I have a video walk through on how to download and clean up the spreadsheets correctly I can send you. They're videos I created for a VA I trained.

Just by looking at the cash flow this is absolutely a good first deal! The goal is always cash flow. You'll get your money back especially if you are able to do a no season refi on the house. Congratulations!

If you know your exit strategy, Id recommend partnering with someone who's already doing what you want to do for your first deal. You eliminate much risk doing this. Say you want to do a fix and flip, find someone willing to split the profits 60/40 for you, that way you learn everything to do from start to finish without risking all your money and you are learning at the same time. Be generous and give your partner more out of the deal. They'll definitely give you your money back 10x from the education alone. Make sure they truly are an expert in their field.

That's great you have goals for rentals properties in 5-10 years but the mind can't see past 90 days out in goals. What do you want RIGHT NOW and in 90 days? More cash? First rental? Start small and go from there. You're in a great position so far and can learn a ton here. Knowing what exit strategy you want to focus on first is job #1 and then educate yourself on everything you know regarding that ONE strategy until you've mastered it.

This is happening in over abundance here in Denver, Colorado. I can tell because they say, "123 Main St #0" on every address and once you click it, "For rent only" is in the description. Another one going around Craigslist everywhere is the "Rent To Own". No offense to any gurus out there, one in particular, but this Lease Option and Subject To stuff is getting out of hand. Ghost ads are terrible ways to market like that. What are they trying to accomplish? A tenant/buyer list? It reminds me how effective yard signs use to be in Denver. Then that company NR are the initials) came into town and plastered so many "Wholesale Deals" signs everywhere it ruined marketing with signs here.

The #1 thing I learned from this lesson: FaceTime, Skype and Google Duo. I never do anything with anyone from a distance without confirming important decisions from a face to face Meeting. Let's us technology to protect us not let it give harm to us! I pray everything works out for you. Unbelievable how much money the scammers can make if they actually did things right vs. being criminals. They all have their day.