All Forum Posts by: Anthony P.
Anthony P. has started 0 posts and replied 67 times.
Post: North Carolina Meet: Raleigh, Cary, Chapel Hill, Durham, Apex
- Financial Advisor
- Raleigh, NC
- Posts 71
- Votes 10
Date and time still work for me. Thanks for organizing.
Post: Raleigh, Cary, Durham and Chapel Hill. NC. North Carolina.
- Financial Advisor
- Raleigh, NC
- Posts 71
- Votes 10
Thanks for organizing! Looking forward to it...
Post: Determining how much you make on wholesale deal?
- Financial Advisor
- Raleigh, NC
- Posts 71
- Votes 10
Originally posted by @Anthony P.:
Originally posted by @Daniel Lipetzky:
Everywhere that discusses wholesaling talks about being able to make $500-$20000+ on wholesaling deals. Common basis for pricing things out is of course the 70% ARV less repairs. My question is how you go about determining what you will get paid for the deal? Is it just a matter of feeling things out and trying to maximize it without being excessive, do you do a certain % of the overall cost, or something else?
@Daniel Lipetzky It absolutely depends on the deal and how you structure the deal. If you're are presenting a deal that is actually at 70% ARV less repairs, the investor will not care how much you are making on the assignment. I go into every wholesale deal with the expectation that my cash buyers net more profit on their flip than I do on the assignment.
The HUD will reflect the assignment fee. I have been at every closing where I have assigned a contract over. I have never had a homeowner question anything. Be transparent at the front end with everyone and the closing will go smooth.
BTW if you come across any 70% deals in Raleigh, PM me. I don't care how much you make on the deal. If it's in my target area, I'll take it...
Post: Determining how much you make on wholesale deal?
- Financial Advisor
- Raleigh, NC
- Posts 71
- Votes 10
Originally posted by @Daniel Lipetzky:
Everywhere that discusses wholesaling talks about being able to make $500-$20000+ on wholesaling deals. Common basis for pricing things out is of course the 70% ARV less repairs. My question is how you go about determining what you will get paid for the deal? Is it just a matter of feeling things out and trying to maximize it without being excessive, do you do a certain % of the overall cost, or something else?
It absolutely depends on the deal and how you structure the deal. If you're are presenting a deal that is actually at 70% ARV less repairs, the investor will not care how much you are making on the assignment. I go into every wholesale deal with the expectation that my cash buyers net more profit on their flip than I do on the assignment.
The HUD will reflect the assignment fee. I have been at every closing where I have assigned a contract over. I have never had a homeowner question anything. Be transparent at the front end with everyone and the closing will go smooth.
BTW if you come across any 70% deals in Raleigh, PM me. I don't care how much you make on the deal. If it's in my target area, I'll take it...
Post: Probate wholesaling help
- Financial Advisor
- Raleigh, NC
- Posts 71
- Votes 10
Originally posted by @Brandon Monaghan:
My local courthouse told me that I can not use estate probate records for self gain. Would using them for finding motivated sellers be considered self gain if I'm helping them liquidate their property? I was asked multiple times why I needed the probates and I said for research but I can't use that same excuse forever... Any suggestions?
A research project could start with historical and current data, and could require future data that would keep you on a research project for quite some time. Build some rapport! Start bringing in morning donuts or coffee with every request :)
@Paul North check out BP Podcast 070 with Grant Kemp. He is a good resource for Sub2 purchasing and mortgage wraps. He has a lot of knowledge in this area.
Good luck!
Post: First Property Decisions
- Financial Advisor
- Raleigh, NC
- Posts 71
- Votes 10
Where are the properties located? Zip Code, neighborhood...?
Post: Raleigh, NC. TREIA vs. Others?
- Financial Advisor
- Raleigh, NC
- Posts 71
- Votes 10
@James Hutson I'm a member of TREIA and would recommend joining. I'm an active investor in Wake Co. PM me and we'll catch up for coffee or lunch.
Post: How do you frame what you do on a resume
- Financial Advisor
- Raleigh, NC
- Posts 71
- Votes 10
A resume to me is more than a job description. Be sure to include RESULTS.
Post: Wholesalers: please follow up on your leads!
- Financial Advisor
- Raleigh, NC
- Posts 71
- Votes 10
@Andrew S. serious cash buyers are hard to find as well. Contact me with your buying criteria and I will partner with you to find your next investment property in Raleigh, NC.