All Forum Posts by: Chris Gonzales

@Michael Robinson thanks for the reply! I know it's possible and I hope to get started soon, I'm just curious on what people think about wholesalers in general, what problems they've had, and what they wish they could do better. The question was just a way for me to see what cash buyers want out of a wholesaler, it's good to keep your buyers happy so they come back and maybe even tell a few friends. Build relationship, and you'll build business... Just how I understand it anyways. 

Hey everyone, So I'm still in the learning phase of the world of REI, and one of the areas that has interested me is wholesaling. I'm curious to know what some of your biggest complaints, concerns, and horror stories are when it come to dealing with wholesalers as investors. Anything you have to offer is welcome, This a perfect time to vent, any issues including poor contracts, lack of due diligence, poor marketing to buyer, lack of info on potential deals, ANYTHING. I've heard a few rants on the podcasts and think it would be an interesting topic that could benefit a lot of new and experienced wholesalers, I'm even going to throw in a #askbp for kicks. Thanks!

Dmitri L. What's a good way that you would suggest getting the word out for a meeting as a newbie? I've recently been looking through county records and getting mailing addresses for people with say 10 or more properties in my area and have even sent a few letters out with contact info. Other than that (which takes a lot of time) is there any other good ways you can think to reach investors when there are no meet ups in the area, and I'm just in the intro phase of the whole real estate thing?

Cliff Zarbock great post, very clear and easy to understand, and thanks for helping the newbies understand the details, I had questions and they all were answered. Great read, and awesome creativity.

Listen to some of the podcasts on wholesalers, some golden information there you and I agree with Micah Copeland studying is absolutely essential, I don't think it will take forever to learn but maybe a few months or so to build a strong foundation. Also try and attend REIA meetings in your area, meet with seasoned investors and figure out what it is they are looking for. The more you learn the more you earn! Good luck!

Danielle Watts Welcome to bigger pockets! I'm new to all of this as well here in the Waco area, the forums are extremely supportive and you are sure to meet some amazing people here. Just keep asking questions and you'll keep getting answers from some of the best and brightest in real estate!

@Will Pritchett

Great advise, thanks!

Hey everyone,

I'm just looking to get a few opinions on how you guys determine your comps. How similar they need to be, how close they need to be, and anything else you might think is important when finding good comps.

Also I'm curious as to what you guys think is the best way for a newbie to determine ARV and cost of repairs. I assume the comps help but is there anything else you would use to determine ARV, and other than looking at the cost of building supplies, is there any other way to get a good estimate of rehab costs? Curious on your thoughts, thanks!

@Sandra Gibson

this is my personal residence, not a rental, at least not at this time, but yes I actually do have a roommate now, just looking for a way to gain a little more cash on hand.

@Mark Shaffar

I agree, thanks for the input!

@Matt Robinson 

I agree 100% with everything you said, wasn't sure exactly how much I should need so I just threw $15,000 out there as an example. I really don't want to add debt in an effort to try to become debt free, that just makes no sense, but its always good to get an opinion from those with more experience. My ideal situation would be to do as @Glenn McCrorey stated and try to get that loan down to 5% which would get the payments down to around $475 which would fee up $175 a month at no cost other than closing, which sounds like a solid investment to me! thanks for the feedback, very much appreciated from the both of you!