All Forum Posts by: Andrew V.

Update. I just closed on the first property Monday. To all that were involved it was the first time working an assignment deal and we just worked our way through it. The escrow agent I found to work with included. She was great and figured out how to get this done and make it work for everyone. In the end I made out with my first check of $5,600 which I should be seeing in the mail today, and everyone else involved was happy. I will not say everything went as smooth as possible, but we kept pushing forward and learned a lot in the process. That same day I put property #2 under contract and am looking forward to getting a quick buyer for this one.

I had a great response with the yellow letters. And plan on using a Letter first for my lists, followed up by postcards a month later or so as I'm still getting a few late phone calls.

The goal was to just go for it and get that first check and I did just that. Super excited for more to come!

Yea I'm going to meet with them this weekend @Matthew Paul The zestimate for the home is $66,000. The lowest sale in the neighborhood for a similar lot was $37,000. I'm working it close to these numbers. I'd like to get it under contract for around $25-30. My buyers list is not that deep yet. I'm wondering who would be best to target as a buyer. Any thoughts?

Welcome @Gary McKissick and @Scott N. . I've found BP to be one of the best resources for me. I've spent quite a bit of money in the past going to RE events and finished still feeling like I didn't have a clue. The site here at BP and the members have been so fantastic and I learn more everyday. You can honestly learn so much about everything, just look for a topic and most likely you'll find the answer. If not, post a question and members are always more than helpful to answer your questions. It's a great community.

I've recently gotten serious about wholesaling. I suffered a long time from analysis peralysis. Along with the BP website there are some great podcasts out there that I listen to everyday in my car. They've given me the motivation to finally just dive in and I'm glad I did, it's honestly the best way to learn. I'm about to close my first wholesale deal in a couple of days and am more motivated than ever to find more. Best of luck to you.

Oh and if you have an interest on some good podcasts, BP has a good one, Josh and Brandon are fun to listen to, Sean Terry's flip to freedom podcast has helped motivate me a ton, Todd Tobacks No Limit Podcast is also really good, one of my faves for sure, and also the Real estate investing mastery podcast with Joe McCall and Alex Youngblood is great as well.

I'm getting ready to go look at a 1/1, 448 sq ft home on a double lot. The house sits way back by the alley, looks to be in pretty decent condition, has a great front yard with beautiful green grass all the way up to the sidewalk. Previous landlords personally took care of the grass as to not let it go to you know what. It does have a mold problem which I'm not sure how bad it is, although I have a hunch it's not all that bad.

My question: Is there any potential with a deal like this? Homes neighboring the property are $130,000 3/2's throughout the whole block. I believe this could rent for $600-$700 as-is. Is there any potential to me to wholesale this house? I'm not sure if a rehabber or builder would have any interest in adding on, or knocking down and building a bigger house, or a buy and hold investor... I know 1/1's are probably the worst condo investments, I'm sure houses aren't far behind but I wasn't sure if this is something I should pursue, even at the right price. Your input is appreciated.

Thank you very much @Anson Young . I took that advice, downloaded a form and emailed it to the seller to see if he would fill it out for me. It sounds like he will so that's great. I want to be upfront about everything with the buyers also so this help even further. Thanks for your input.

Thank you BP'ers for helping me out with my questions so far. I have a question about seller disclosure in Colorado.

I am wholesaling a house and my end buyers are new to the area from California. We are trying to close in 6, make it 5 days now to get it done by the end of the month. There are tenants currently in the property, lease is up at the end of May.

They won't sign the assignment contract until they see rental agreements, etc... They have never worked with a wholesaler before, and this is my first wholesale deal. They have always bought previously directly from the seller and in CA I believe a seller disclosure is required. Along with rental agreement they are also asking for a disclosure from my seller, which I didn't get because I wasn't aware this would be an issue. Is this typical in CO? Should I ask my seller to fill one out (lead paint, etc)? He is already tough to get responses back on paperwork. Is this something I should always get from a seller? Thank you for your advice.

@Jake Widmer , @Rich Wahl , @Jason Rhine , @Ted Schmidt

@Ted Schmidt

@Ted Schmidt

Yea I've already been told this one needs some tlc. He said paint, carpet, etc... It's been over a year since the guy has seen the property though and to me it sounds like it'll need a little more than that. That's part of the reason he is looking to sell is that he and his two sibling which are the heirs to the property live too far to maintain and keep up with it.

Hi everyone,

I'm going to look at a sfh 3/2 this weekend in hopes to get it under contract however, it is directly across the street from a University in Northern Colorado.

My question to any seasoned investors is, is that a good thing or do many investors try to shy away from college houses? I know college students can pose a threat to the condition of a house, but I've also seen a few on BP who love college rentals. Just working my first few wholesale deals so any advice and/or cautions would be much appreciated.

@Jake Widmer , @Rich Wahl , @Jason Rhine , @Ted Schmidt

So I've got a few more calls. None of those have really panned out, mostly just wanting to see what I can offer, they've considered putting it up for sale but under no distress, and one gentleman that wants to sell b/c he's tired of the headache of being a landlord but according to him he owes way more than what I could offer.

I did, however, set a couple of appts this weekend to meet with some sellers. One house is across the street from a University and currently being used as a college rental. The other is a tiny little house in a neighborhood with bigger, more expensive homes where the couple wants to retire and figure they could sell the house. They currently take care of all the yardwork because with a big yard they didn't want the grass be neglected. Great yard, only about a 480sq ft home the property. The shed next to it is almost as big. The Zestimate is about $64,000. Homes in the neighborhood are nicer $150,000 homes. They both currently have tenants in them so I still need to figure that out but we'll see what we can get done this weekend. Wish me luck!