All Forum Posts by: Sara Frank

Thats just her timeline to decide how shes going to sell it -- either via wholesaling (me) or a traditional agent route

Hi all,

I have a friend who is interested in selling one of her Washington DC investment properties (SFH 5bd.2.5ba in NW) so that she can do a 1031 exchange and level-up.

She wants a fast process with minimal fees on her end. She's trusted me in helping to re-position one of her existing properties by handling the renovations and property management. She's indicated that she will let me search for a buyer for this house she wants to sell. Her timeline to make a decision about *how* she wants to sell the property is about 1 month. How she sells == via agent with fees or through one of the options I bring her.

I have never done a wholesale deal but I believe this might be a perfect opportunity. I have a few leads on cash buyers (either flippers or condo developers) who would be interested in the house but I don't know if she is aware of what wholesaling is/would be comfortable signing a wholesale agreement with me. You have to admit, it looks pretty gimmicky unless you're close to the details.

How should I approach this topic with her? I'm afraid she will think this is a 'self-serving' move on my part and no longer be interested in working with me. In reality - she's a super busy person and I know I could truly add value to her life by finding a buyer for her and negotiating a higher sale price for her home. I should add that there is an age gap --- she is in her late 40's and I am in my early twenties. I'm also afraid that this harms my credibility.

All this to say -- if you have advice for how to approach this situation/put her worries at ease, that would be awesome!

Thanks,

Sara

Thank you so much! I'll be sure to reach out 

Hi there, my landlord's GC of 20 years has retired and she asked me to help her find someone new. Does anyone have a GC they recommend in the DC area? Must be reliable, affordable and trustworthy. She has a few properties (<10) throughout northwest DC. 

Hi Paul, thanks so much for this info. I'll shoot you a message, I'd love to learn more about your company. 

Yay! That's awesome. Let's connect -  I'll shoot you a message 

Hi all, my name is Sara! I am a Washington, DC local and new to investing. I’m young and not in a rush to purchase my own properties so I’m taking my time to read all the books and save as much money as possible. In the meantime, I had an idea for a service I could offer other investors and I want to run the concept by you all if that’s okay… any input would be great.

I have a full time job in real estate development and have no intention of leaving, but I also love all things interior architecture, design, carpentry and DIY. This past summer I had a funny thing happen to me. I was surfing redfin looking for a new place to rent in DC (for myself) and I found a house that was above my price range but I thought was so beautiful. Just for fun I reached out to the landlord and sent her sketches/floorplans of how I thought she should renovate the house to increase her rents (a big hobby of mine!) Not only did she respond, but she loved my ideas and thought they were creative and something she would have never imagined doing. At the end of the day… it was a win-win. She was able to add an entire bedroom AND bathroom in a cost-effective way, raising rents significantly and later refinancing to take over $100,000 cash out of the house. I was on the ground for the renovations and ran point to get the job done quickly. As payment, she is letting me live in the house for a year at a crazy discount, which in DC is everything! (I have roommates, so don’t worry she’s still making a lot of money each month, lol)

All this to say… Do you all think this is a service that investors would pay for? I bring a creative, cost-conscious approach to renovations (I am in finance/construction, so I know what things cost and how long it takes to get them done!) and in return I charge a small fee or percentage of equity at refi.

Have you seen this before? How would I market it? General feedback? If anyone is interested, feel free to reach out to me I would love to chat with you. If this is a feasible idea then I imagine I'd do the first couple projects for free/at a high discount. You don’t have to be from DC, most of the work I did for her was virtual anyway.

Thank you in advance for your help!

Hi everyone! I'm based in DC and found the perfect house hack deal - I have a preapproval letter but I don't have the full amount for down payment and closing costs. My parents aren't real estate savvy and not open to lending the money - I was wondering where people find this kind of capital? (its only $15,000) (sans taking a second loan which is not viable for me) 

Thanks! 

PS This would be my first deal!