All Forum Posts by: Brandon Xiong

@Ben Grotzke

@Craig McLaughlin Thanks for the reply! I actually use to live in Storm Lake for about 3 years and then I moved back to Sacramento, CA. I realized that while I was living there, a lot of the homes needed renovations. There is also a Tyson meat factory there that brings in many people from different ethnicities all over. I mean my parents found it from California and I didn’t even know the area existed. The town is very diverse because of it. It is home to Buena Vista University, which is a private university. I plan on taking over because it’s a seller’s market which may mean there are motivated sellers around there. About 53% of the small population in Storm Lake are home owners. The town only populates about 10,000+ and it’s a small little town. It’s only fair that the homes there look modern too if they have a resort right by the lake. Tell me why it ISNT a good market. :)

Hi my name is Brandon, I am 21 years old from Sacramento, CA and a FT Lyft Driver. I am very interested and making my first moves in virtual wholesale. I want to network with as much people as possible. People that are open minded and humble and about their business. I am a very serious investor and time is everything! I would love to connect with any Iowa Investors here on BP! Shoot me a DM!

I am an investor here from California, focusing on the Storm Lake market. I am looking to connect with other investors in Iowa who are interested in networking! Everything will be over the phone or through text message. I would love to get to know my fellow investors. 

@Virgilio Mateo Hi! Thank you very much for the update and then information. I’m a little late on this post but I was wondering if you happened to have the 3rd contractors info still. I would love to get in contact with her. I am in Sacramento.

@Pratik P. Hi! My name is Brandon and I was wondering if you would still have that contractors information so I can give him a call.

Hi my name is Brandon, I am 21 years old from Sacramento, CA and a FT Lyft Driver. I am very much interested in being an investor and also getting my real estate license as well. I am driven and motivated to learn more as I go on this forum because there are a lot of good content.

I just wanted to know if my calculations are correct for this example deal here. Correct me if I’m wrong and tell me anything I should consider to not forget about in my calculations.

EX. Assuming that the owner signed a contract for 70%

Owner Asking = $100,000

Rehab Costs = $45,000

ARV = $145,000

Offer = $43,500 ✅ @.70 or 70%

= $50,750 @.65 or 65%

= $58,000 @.60 or 60%

= $65,250 @.55 or 55%

Under Contract for = $43,500

Add on fees etc. = $5000 my fee + .03 or 3% closing fees

Assignment for = $49,805

Profit for End-Buyer = $50,195 ($145,000 - ($49,805 + $45,000 rehab)

Did I do the math right?