All Forum Posts by: Brian Vaughan

" ****important ****Remember things take time and MANY give up before they have a chance at success! "

This is a great answer to the question that Brandon T. always asks at the end of podcasts. 

First off, thank you for telling us what you have done, and not what you want to do! The Internet is full of people who tell us about their dreams, but few who actually tell what they have already accomplished (with honesty) . 

...and yes, I do have 2 questions

On average, how many hours per week do you typically spend on your wholesale business?

Do you know the approximate ratio of incoming phone leads per closed deal?

Thanks again!

@Brian Vaughan I don't know if that's sarcasm or not, haha! But yes you're right, I'm extremely new to this thing. Is wholesaling something you recommend and/or have done? Also, thanks for the suggestion on the site. 

No sarcasm intended - sorry.

Google the words "skip trace". 

You came across the great world of wholesaling just yesterday??    Wow.   You're a newbie/newbie!   

Another source is www.absenteeownerlist.com     Creative name, right?

Good luck. 

Hey William,

I don't spend a lot of time posting here, but I noticed your post about appraising (and I really liked your haircut!) I probably did about 6000 to 7000 appraisals in San Diego County alone many years ago and know it well. In residential appraising, there are three common approaches to value, but most any residential lender is going to want to see the “market approach” used for most every house. The appraiser is going to have to find comps, regardless of how few are available. In your item #4 you asked if "the house appraiser will just add all the expenses of the renovation to the purchase price, and call it a day?"   Absolutely not!   Appraisers don't work that way (at least not an appraiser worth anything). It's going to be a matter of finding recently sold sales (comps) as close to the subject property as possible. You also mentioned that someone told you that "appraisers come in at what you're trying to finance the house for."   I can't believe someone would actually tell you that. Actually - yes I can.    But it's simply not true. Again, market value is going to be estimated using comps, adjusted for differences in a grid, and reconciled. Good luck with your real estate endeavors (and your hair !!).    -Brian

Jason,

A real estate market that just suffered a major hurricane is not your standard, run-of-the-mill stable market.   As a wholesaler trying to score a deal in this type of market, I would strongly suggest that you do your due diligence and make sure you have a buyer who actually wants what you are assigning.  Obviously, there is going to be a lot for them to choose from.    Good luck to you. 

@ray lai   I enjoyed your post.....until the sales pitch.   

@Charlie MacPherson   I can tell you from long-time, first hand experience that an appraiser receiving comps is very rare, Charlie.    There are multiple reasons that they don't, but most simply don't.    Again, I can only speak for the market I am in.     

 So the buyer is automatically a dumb a**?    What if he/she has an aging parent who happens to live next door to the home for sale, and would pay anything to live next door to their parent?  Or a thousand other scenarios.  

Are they all a "dumb a**"?