All Forum Posts by: Dave M.

All I desire is a wholesaler to actually bring me a good deal, seems like they are few and far between. If you want to move a property quickly (and you do) polish your negotiating and people skills, provide a solution for a distressed seller, then if the deal is good it will quickly sell itself.

Perhaps, Andrew O. but what about if someone isn't sure if they have a deal? I'd rather they bring it to me so I can pass than never know, thoughts?

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Originally posted by Aaron Churnick:

I'm with you dave, just not sure the solution. Maybe hire a local realtor and pray they actually do what they say they are going to do? Mentor someone that is within a few hours of a few different houses? Hire a random someone on craigslist to picture the house after each phase? Hire property preservation company to do the inspections? No 2 properties are ever in the same city it seems. I've never found a solution beyond just putting the time in. My little sport trak would love you to find a solution.

Thanks for the early morning giggle by the way. Forty hours a week workloads stopped around 2007 sadly for me.

Haha Aaron, lot of questions there (and I have no answers - but I could do the 1100 mile drive for you for much cheaper :)

2 questions here. Can you give up control? If not, you will always be driving the 1100 miles.

Also, I only value your time at 40 hours because that will be how others likely will when they come up with a buyout price. If you think your time is more valuable then you need to support that, and driving would not be my advice.

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Originally posted by Ed O.:

The areas I'm in all require them. Fees range from $35-$275. Outrageous. In one area, they walk into the house, find a smoke detector and leave. What a joke.
That being said, I think reasonable inspections make sense. There's a lot of fools putting people in harm's way by moving them in to units that have serious safety concerns, like loose hot wires, no smoke detectors, failing exhaust ducting and more. It sucks for newer investors learning the ropes, but, like I said, reasonable inspections can be beneficial for all.

Sorry Ed O. but you are 100% wrong!

$275 on a $500 apt is 4.5% of annual rent, $35 on same apt is .6% off your top line.

These items should be part of the construction/improvement inspection and not some arbitrary re-rent inspection (did you make any improvement?)

Bottom line, this is what the construction inspection process is for.

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I wonder what the NJ landlords have to say about these "inspection" laws. I don't know if its a statewide thing, but I know at least some areas are subject to them currently.

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Don't know the mileage between specific cities.

My point was at 40+ flips per year, what is the value of your time?

If you make 25k per flip - @ 40 hr wk that's $500/hr

20 hr drive = $10,000.

Picture yourself as an investor in your company. Would you rather your CEO spend 1/2 a week on the road or growing the business further?

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Brandon:

Welcome to Bigger Pockets!
I commend you for trying to find a win-win for you and the 2 couples. I (somewhat) know the situation in Galesburg. Why not acquire properties for them and sign a lease with each of them?

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If you're doing that kind of volume, why would you drive instead of fly?

Even last minute commercial flight pricing would be more cost effective than your drive time. Its a simple equation.

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If they had a business and client base at one time, do they have an internet/social media presence? Could you find them online and track back to them personally somehow?

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Dale Osborn how do you find these posts from the archives?

I'm beginning to think you're the publisher of this "Deals on Wheels" book! ;)

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Just a couple thoughts:

Would it make sense to find a replacement for this partner?

When you (collectively) purchased each property, didn't you expect that the property would be sold for maximum profit - with understanding that if circumstances changed and you needed to liquidate sooner, lesser profit would be accepted?
- If he is trying to exit the partnership, he should not expect the same

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All Forum Posts by: Dave M.

Dave M. has started 7 posts and replied 346 times.

Post: What type of criteria for homes do buyers want from wholesalers?

Post: Driving 1100 miles round trip to babysit a few flips. Should I mentor?

Post: City Inspection Required in Seattle

Post: City Inspection Required in Seattle

Post: Driving 1100 miles round trip to babysit a few flips. Should I mentor?

Post: Have the ideas and two potential clients....help please!!!

Post: Driving 1100 miles round trip to babysit a few flips. Should I mentor?

Post: Anyone recommend Debt Collector/Skip Tracer for a significant Judgement

Post: Starting out on my own...

Post: Partner wants out.