All Forum Posts by: Adam Higginbotham
Adam Higginbotham has started 2 posts and replied 19 times.
Post: Struggling to find deals
- atlanta
- Posts 22
- Votes 24
@Joe Cassandra Thanks buddy. I am seeing a trend here.
Post: Struggling to find deals
- atlanta
- Posts 22
- Votes 24
Originally posted by @Jacob Michal:
@Adam Higginbotham oops thought it said 50k that’s my bad yea with 90k repairs that’s no room . How big was this house for it to be a 90k job
1200 sqft. Its a a 3/1 that needed to be a 3/2. Total gut job.
Post: Struggling to find deals
- atlanta
- Posts 22
- Votes 24
Originally posted by @Diego La Rotta:
Originally posted by @Adam Higginbotham:
Thanks for the reply John. I see its the same in Florida. I get the feeling that these wholesalers are just preying on newbies that dont do their due diligence. Its sad. It looks like I will be looking for foreclosures.
are you also trying to find deals in south florida area? I live in the miami area and its been hard to find deals for the past year.
No. I am just in Atlanta.
Post: Struggling to find deals
- atlanta
- Posts 22
- Votes 24
Originally posted by @Jacob Michal:
@Adam Higginbotham at 130 your buying at 75% of arv how is that very off.? Seasoned investors buy at 75-80% all the time
130 + 90k of rehab = 220k . With an arv of 240, there is no money in that deal, unless your the lender, the contractor and the agent.
Post: Struggling to find deals
- atlanta
- Posts 22
- Votes 24
Originally posted by @Kenneth Mooney:
@Adam Higginbotham what kind of marketing are you doing personally?
Hey Kenneth. I am new to this so not much. I am trying to meet as many people as I can and honestly thought that wholesellers would be honest. I know now that was mistake #1. It seems like I should start cold calling,driving for dollars and doing direct mail.
Post: Struggling to find deals
- atlanta
- Posts 22
- Votes 24
Originally posted by @Jerry Lucker:
@Adam Higginbotham I went through exactly what you describe.
I stumbled across flipping mobile homes in parks.
Takes little money, very little competition, great profit margins.
Thats interesting Jerry. I will have to look into that.
Post: Struggling to find deals
- atlanta
- Posts 22
- Votes 24
Originally posted by @Dennis M.:
Why are you wasting time with middle men and loan shark lenders ? There’s better less costly ways to do business in RE
I would love any insight you have. I have 50k of my own funds to bring into a deal. I am open to any enlightenment you are willing to share.
Post: Struggling to find deals
- atlanta
- Posts 22
- Votes 24
I would like to thank all of you for the responses. Thanks for the good insight and direction!
Post: Struggling to find deals
- atlanta
- Posts 22
- Votes 24
Originally posted by @Pete Osceola:
Adam it is the same here in Florida I was talking to a wholesaler about a property he had for sale his ARV was 215 and ARV in the area is closer to 175 needless to say he hung up on me pretty upset and didn't want to hear what I had to say he was trying to sell me a property at 120K turns out he purchased it just under 70K
Yeah. Its a suckers game. I feel sorry for people who have fell for it. The same thing happened to me once I had several bids from conservative contractors. I sent the bid into the wholeseller and told them what I would pay. They had no interest.
Post: Struggling to find deals
- atlanta
- Posts 22
- Votes 24
Originally posted by @Javier D.:
@Adam Higginbotham
90k for a rehab? How big are these houses?
1200 sqft 1960's ranch style houses. Most of the ones that have been brought my way have been in very bad shape.