All Forum Posts by: Christian Gabriel

@Louis Davis, thanks for the input! I saw the "rule of thumb" on a previous post on the forums here, also have seen videos/webinars to estimate costs per sqft based on whether its a light, or a full rehab etc. Due to the home being vacant for so long and the condition I assumed the house would need a full rehab. I'll be doing a full walk through soon. Does the expanded lot play a factor at all in how I should be calculating ARV? Or am I still just going by the sqft of the home?

I am an aspiring wholesaler getting in the habit of reviewing properties to get myself into the habit of finding deals. I am in Las Vegas however the property is in Detroit,MI and needs ALOT of work. Has been vacant for over 10 years and I calculated rehab costs @ $30 per sq foot bringing total rehab costs to approx $33,420. I will be reaching out to a real estate agent for comps as I had no luck finding comparable properties that were sold within half a mile within the last year so i can determine the ARV but I am not getting my hopes up as the home is not in the best area either. I am a newbie so I am not sure if I am focused on the wrong things, so I am reaching out for any input with this property. While the house is 1114 sqft, the owner advised that they own the lot space next to the house, which is 4356 sqft, the lot space is really what peaked my interest for more potential but I am not sure how to incorporate extra lot space such as this when looking for a deal.

Thanks!!

Good Morning/Afternoon All, my first post! I am looking to get started in Wholesale, have read a few books, attended a few webinars and had a discussion with someone representing Amplify. Based on what I have learned there is opportunity to complete deals with $0 as long as the transaction is funded with end buyer cash (sorry if this isn't worded properly!). The agent was very polite and informative but he told me himself that I will and already have "Receive information that isn't necessarily accurate for my market. I was told in Las Vegas the MLS/Zillow etc is overused and recommended purchasing leads from Amplify to get first touches on leads and this will increase my chances of getting my first deal with less "useless" leads to send offers on. I am a newbie and while I can understand his reasoning provided, but also feel like the information contradicts what I have been told be other wholesalers.
Looking forward to taking action and diving in head first to provide for my family and freedom real estate can provide.
Figured this was the best place for input, any advice is welcome! Thanks!