All Forum Posts by: Alicia Hensley

That's a good question. I knew that he wasn't a motivated seller when I called him back with a general offer. And I knew that he was going to say no. But, I was going the formula (ARV - 70% - repairs), and was WAY off of what other people were offering.

 WOW! I'm surprised people are doing that....maybe they're not on Biggerpockets? Haha. 

I agree with the buy low, sell high. I already have a house that I was relying on appreciation when I purchased and it hasn't appreciated as quickly as I thought it would. I've had it for 7 years, and I can't quite sell it yet because the numbers aren't were I want them to be. I should have done the buy low, sell high a long time ago! 

Not off the MLS. He said he had called several other investors that had posted ads on craigslist, and that's where he was getting the offers, so not by owner occupants.

So, I'm pretty new at this wholesaling thing....actually, I've only done research and learning and never quite made an offer.... Well, I decided today that I needed to. I new that the seller wouldn't accept my offer, and I knew it would be much lower than he wanted. But, I did it anyways just to help me get over my fear of making offers. 

So here's how I broke it down: 

$260,000 ARV - 70% - $5000 est. repairs

I told him I could probably go anywhere from $165K-$180K just based off the numbers from my research WITHOUT seeing it. He said that people have offered $235K and he still said that was low but mine was the lowest offer he's received. 

Anyways, I'm wondering how my numbers are so off compared to the other investor numbers? Is the market really that hot that investors are offering 90% of the ARV? Maybe my comparables are off by over $100K?

I'm interested in wholesaling in Utah (Salt Lake and Utah counties) and was wondering if there were any laws that I should be aware of before I start. Also, if anyone has a purchase & sale agreement I could reference, that would be awesome. Thank you!

I've come across several pre-forclosures that are not on the market BUT I recently heard that I'm not even supposed to talk about purchasing the property with the owners without a realtor? The owners motivated and i want to be able to help them out of their situation, but i dont want to break any laws regarding pre-forclosures. Anybody in Washington state know about this?

I have a SFR in Lehi. It was my primary residence until last year, and now it being rented. My advice (I learned after the crash), get educated before you start investing. I bought my house at full retail right before the crash, and am barely recovering...my mistake was not educating myself. Start with 'Rich Dad Poor Dad' (if you haven't already) and go from there. I wish I would have read that before I bought my house, it really changed my whole perspective in real estate. I'm still learning, and I do consider myself a newbie investor. If you don't have a lot down, talk to a lender to see what you can do as a primary residence. There's a few loans with nothing down, but usually you have to live in the house for a year before you can rent it, so maybe start with a duplex so you have somewhere to live in the mean time. Good luck, and again if you need help with anything in the area, let me know. Good luck!

Btw, I've already done most of the wholesale work on them. The only reason that I haven't signed a contract is because I've just started the wholesaling game and haven't built a buyers list in Bremerton to assign the contracts quickly, or found a hard money lender yet (incase I can't assign the contracts). Feel free to ask any questions.

I have a couple properties that I've been talking to the owners, and they're ready to sell! I haven't put them under contract, because I don't have funding in case I can't assign the contract (I thought I did, but long story short, it didn't work out). There are 3 total, 2 of the properties have one owner and they're ready to put on the market with a realtor, but since I've been talking to them they've agreed to exclude  me from the contract with the realtor. And the other has just lowered the price and needs to sell quickly because he's moving out of state, but said he'd sell to me first! I hate to lead them on, so I'll work with you so you can get them under contract for a bird dog fee. Let me know!

I want to go through the entire process from finding a deal, buying, to the selling (or renting) point before I do it on my own. So, I'm looking for someone that will show me the ropes. I have a degree in interior design and have a small portfolio (including remodels), I've gone through a 10 week wholesale coaching program, reading real estate investing books, and listening to BP podcasts, so I'm not entirely naive. I'm in Port Townsend, but I'm willing to go over to Port Angeles and down as far as Port Orchard. Any leads would be appreciated! Thanks!