All Forum Posts by: Christina L.

@Dan Denton - thanks for the input. Not sure I follow. You mean the cable companies sometimes offer a "bonus" if you purchase services on a bulk basis?

@Jeff B. that helps, thanks. I guess the pros could be from a marketing or income perspective, like you said. I need to do a rent market survey anyway so I could ask other properties how they approach cable services. If the local competition does (or doesn't) offer bulk cable, then that's something to consider.

For the multifamily investors out there, is there any value in providing bulk cable services vs. just having the tenants contract directly with the cable company? The property is a 22-unit, C class multifamily complex in the Phoenix, Arizona metro area that we’re repositioning. I contacted the local cable provider to set up service and they provided additional options for bulk service. Seems like going the bulk route has the potential to only create hassles but there might be something I’m missing. Any input would be appreciated!

@Leigh Ann Smith I deal with land in the Phoenix, AZ area and the Maricopa county online tools are very helpful as they show both the flood plains (which can be built on but needs to be "built up") and the flood zones (cannot be built on). I'm not sure what tools are available through your county but if you call their office, they should be able to tell you. Your title company should be able to provide flood plain/zone information as well. An ALTA survey is typically another tool that reveals flood plains/zones. Hope this helps.

@Erick Martinez I  will send you a message with the details.

@Account Closed , welcome to BP!

Like a few others on this forum have stated, if you get a true deal under contract, you shouldn’t have any problem finding a buyer quickly. I’ll caveat that statement by saying that I wholesale in the Phoenix market so there is no shortage of buyers here. I’m not familiar with your market so your strategy may be different than mine. Either way, if you have a deal, most likely the buyer should be relatively easy to find. 

Hi Joel,

Being from the Phoenix market and wanting to do F&F's as well, I understand the frustration. It’s very competitive here so it’s tough to get your foot in the door. I've had funding ready to go for a while now but it’s taken time to get any traction in this market due to the good deals getting taken very quickly. I started with a realtor and the plan was for her to bring me deals to F&F but she hasn’t been able to find much given the current conditions in Phoenix. And by the way, she’s a realtor who not only works with investors, but is also a F&F investor herself.

That’s when I decided that if I wanted to make a go of RE investing, I would need to change my strategy and take a more active role. After about 3 months of continuous networking and just “getting out there” to talk to folks, I finally found an experienced fix and flip investor who’s willing to partner with me on a deal. He’s an active investor who does several F&F’s a month and he partners with individual investors a few times a year. This just happened recently so we haven’t started on a project yet. In fact, since he works with a few other partners as well I’ll have to get in line, so to speak, and wait my turn for the next available property in the pipeline. Still, it’s good progress and a testament to what persistence and good old fashioned networking can do! He’ll be leading the F&F project but I’ll be coming to all the meetings, shadowing him, etc. It should be a great way to learn.

In the meantime, I just started taking a wholesaling class in Phoenix. It’s three hours every Thursday night and packed with good information. I figured learning how to find deals can only help with my RE investing goals. In fact, I’ve found that there are active wholesalers in the class who are interested in working with others, which really helps as you’re getting up and running.

I’m still a newbie so while I can’t comment on all of your questions, I thought it might be helpful to share my experiences. All that to say, while it’s discouraging when you’re starting out, I noticed that if you’re persistent, eventually it starts paying off!

Christina

@Priscilla Z. Thanks for the great information!

@Jerald Alford Hope the HUD wholesaling works out for you.

Thanks for the info Priscilla! I'm not a realtor but know you have to use a realtor to make the HUD bids. Are you a realtor yourself? If not, have you been able to find one who has been willing to make these bids on your behalf? I'm not sure how "worth it" it is for a realtor to do this so that's why I'm asking.

Also, have you been able to secure the HUD properties virtually without going to look at the them in person?

Hi BP Community. Does anyone have experience or know anything about wholesaling HUD properties? One of the well-known wholesalers out there says it's a great way to find/purchase below market real estate. Apparently the idea is to start bidding low and increase your bids until you hit the "threshold" for the particular market you're bidding in. This wholesaler has also indicated that it's a great way to wholesale virtually without ever viewing the property. Any thoughts, opinions or experience would be most welcome!