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All Forum Posts by: Account Closed

Account Closed has started 6 posts and replied 39 times.

Post: Wholesaling business is for dishonest, crooks?

Account ClosedPosted
  • Investor
  • Posts 40
  • Votes 6

Yeah, I'd go in telling the exact process of what your intentions are too.

What I'm wondering is when you explain the process clearly to real estate agents or attorney's it's like their so opposed to it for some reason.. just my experience.

Post: Bad wholesalers. What complaints do YOU have?

Account ClosedPosted
  • Investor
  • Posts 40
  • Votes 6

I agree with Darrell it isn't as easy as the 'guru's' make it look in their E-books. It is possible though, and it just takes a little hard work an patience just like any other skill.

I'm pretty sure you heard the quote: "Simple but not easy."

Good Luck

Post: Newbie in the Bay Area, CA

Account ClosedPosted
  • Investor
  • Posts 40
  • Votes 6

Good Luck!

Post: Should I use an attorney for LLC/S Corp formation

Account ClosedPosted
  • Investor
  • Posts 40
  • Votes 6

Legalshield.com might be a place for you to start looking for a cheaper alternative, It definitely helps me out.

Post: I'm young, I dont have much, But I want to start

Account ClosedPosted
  • Investor
  • Posts 40
  • Votes 6

Hey man,

I started when I was 19 and the best thing I would think you could do is find out who does what you want to do and do task's for them that they wouldn't mind you doing.

Easier said, than done:).

Post: Is there too much Repair Cost to be a deal?

Account ClosedPosted
  • Investor
  • Posts 40
  • Votes 6

@Joe Villeneuve

I would want a 4k fee.

Ok, thank's for the tip I understand the importance of the buyer's list now. I had a feeling I would get a response like this, good luck on your side man.

Post: Is there too much Repair Cost to be a deal?

Account ClosedPosted
  • Investor
  • Posts 40
  • Votes 6

Hey Guy's,

I have this 'deal' but I don't see how a rehabber/flipper would profit from this. I estimated the ARV to be 50k, with repair cost of about 26-30k, and the seller is asking for 4k.

This is a big 5 bed, 2 bath house (1,866sqft)

Where I'm confused at is I'm wholesaling and if I estimate the flipper making a 15k profit but putting in 30k sounds like it's more of a loss.

Amy ideas?

Post: 70% Rule (Rochester, NY, Monroe County)

Account ClosedPosted
  • Investor
  • Posts 40
  • Votes 6

Thanks Jeremy,

Yeah I talked to a couple investor's it just seems like it's better to go off the flipper making a 10k-15k profit.(Depending on the difficulty of the repairs)

Post: 70% Rule (Rochester, NY, Monroe County)

Account ClosedPosted
  • Investor
  • Posts 40
  • Votes 6

Hey BP,

I haven't got out to network and find out for myself but, does anyone know a good percentage to go by for the 70% rule in Rochester, Ny or even more general Monroe County area?

I just didn't want to find out the MAO using 70% when it's 60/65% you know.

Thanks

Post: My 1st seller call !

Account ClosedPosted
  • Investor
  • Posts 40
  • Votes 6

@Ryan Dossey 

Yeah, I think the fact that I told him at a "discount price" and he wasn't that motivated either he said he was interested in moving in a couple months