All Forum Posts by: Brian Woline

There is also a great podcast out there that will help. BP Podcast 012 : Wholesaling and Marketing with Sharon Vornholt

Hi Kevin,

I find houses for clients in my area using "Terms Available" search feature on the MLS. Have you tried to find deals using seller financing or land contract as part of the search criteria? You could also try to find wholesalers in your area. You may be able to buy house to rehab for $20k cash through a wholesaler.

Is your partner going to cover the rehab expense if you buy the house?

Brian

Welcome Brian,

I am new to BP as well. I became an Realtor to further my knowledge and experience in the real estate world. I am sure you have already found BP to be a helpful place as non-member. Believe me, it is even better as a member. There are so many members who are willing to provide insight for your growth and success. You will probably be able to find a lot of good contacts in your area as well. Good luck.

Brian Woline

Hi All,

Thank you all for taking interest in a new-comer like myself. It is really nice to be surrounded by so many people with passion for real estate. I appreciate the welcome you all have given me.

BP is a blast. It is the first forum I have actually participated in. I joined a little while back but, did not get involved until now. BP is truly a great community.

Brian

As Simon Campbell said, the property being a C2 is not a bad thing. The reason I wanted you to find out the zoning was to determine what additional uses there are for the property. The fact that it is a C2 might indicate a greater potential of appreciation in the future. The possibility of owning a piece of C2 property near a new shopping complex at residential prices is what developers all over the country are looking for.

Do the research to find out if the shopping complex will likely become a reality. Talk to a commercial Realtor who is working on projects in that area. Try to find out the probability of the shopping center being built, without necessarily telling them you have a property you are interested in.

You could talk to them about opening a business in the shopping center and ask for general information. You could ask about possible lease rates and any big business planning on opening a location that would draw a crowd. Find out if any popular restaurants are considering the area. They might not be at liberty to say or they might have something to brag about.

Just find out as much information about the property and the area that you can and prepare yourself for the investment. Seek competent legal and professional advice of those in the area.

Hi Yolanda Smith,

Experian has been a great source for me. I guess credit reporting wasn't bring in the revenue they had hoped for. So, they started selling all of our information.

I have purchased two lists through them, about 1,500 consumers total. The criteria you can choose from is great. I have not gotten any old/bad info from them, that I am aware of.

I hope it is okay to post a link to their site. I am in no way affiliated, just a happy customer. Check them out here.

I think Ann Bellamy nailed it.

Hi Roberto Lobrace,

I would look up the property info for the address the city has listed. If they still own the property the city has listed there might be a more up-to-date address. You may also be able to see if and when they sold the property listed with the city.

Does anyone mow the grass on the property? If so, contact the company taking care of the property and ask for the owners contact info. You would be surprised how much information you can get.

Most appraisals are performed for financing purposes. Did you have the appraisal to get a loan on the property? If so, the appraisal should give you the value of the house in it's current condition. Banks want to ensure they are not lending more than what the property is worth.

You should talk to a qualified agent and go look at the property with that person. If you know a contractor or have a friend that knows about construction plumbing, electrical, or anything that can help, take them along too. The name of the game is preparation and knowledge.

The shopping complex could make the property more desirable and/or make it appreciate in value more quickly. There are a lot of factors however.

The first and most important is whether the shopping complex will actually be built. Many planned projects of this nature do not become a reality.You can get information on the likelihood of project coming to fruition by looking into zoning decisions that have been made by the local municipality. If the area is zoned correctly, or has a variance and there are permits in place.

Another issue you will want to consider is the zoning of the property of interest. Find out if it would be possible for this property to be used for purposes other than residential.