All Forum Posts by: Dell Schlabach

 If it was a sweet deal would i definitely buy them up. 

We put four houses on over a three week period in one neighborhood. Two sold multiple offers the first weekend,  other ine took three weeks, we have six showings this weekend on another, see if we have offer by Monday.

We have two more under rehab in the neighborhood. It's a highly desirable area,_good schools 140-175 price range.

If you had 5+ showings the first weekend on your other one, i wouldn't worry about flooding the neighborhood, if you only had one or two, id be more concerned. 

Have your realtor run comps and see how many houses sell in that school district in a three-month period, in your price point.  I suspect your five will make up a small % of sales and if yours look better then most non rehabbed houses, you don't have too much to worry about.  May have to worry more aboutt getting them done, and making sure you considered the extra holding costs.

Likely your finished houses will come on the market  a few weeks to a month apart, in our area that would not be a problem to sell them, as there is a real demand, lot more buyers then good houses. 

Other option, you could probably sell a couple wholesale to other rehabbers, make a few k, quick.

Good luck.

On the other hand independent restaurants where people get to meet the owner, manager, chef where they deliver quality and service, and the customer feels cared for and appreciated, those places are booming today. 

Personally it's what I always pick, over slick corporate chains, when I want a real experience and quality. 

Personally I don't think it matters much, which approach,,they both have their value and different people are drawn to both, although I prefer the independent restaurant I still eat at plenty of quality chains because they are there when Im hungry and I know what to expect. Typically nothing exceptional, but I know what in getting going in. 

 I think the important thing is that calls are answered and you solve the problems of your customers better than anyone, that your marketing is consistent and you have good sales and customer service skills. 

If you take care of, solve the problems of your customers better then anyone else...your corporate "image" will take care if itself.

Pick the one that most appeals to you and then deliver exceptionally well and you will be good. 

Good luck

Btw, I am not against having an llc or corperation, I do have both.  I have also been sued a few times, personally and corporately for business related activity,even though we always do our best to do exceptional work and treat people failry.  The llc was never what protected me in lawsuits.

The protection always came from resolving the issue with the suing party,  having good insurance or a good attorney or some combination there of. It was never the llc or corporate veil that "protected" me. So my comments are to give new people more perspective, and not be under a false illusion that an llc is necessary to do a deal, or that it provides , a high level of protection, where you won't be held personally liable if you break the law, or someone sues you with just cause. 

 True in the US we can sue anyone for anything. 

But we should also not put new "wholesalers" under the impression that if they form a single member llc and they violate state law or rip of a grandmother, or  cause other damages that they wont be sued individually as well.  For a wholesaler with minimal or no assets an an llc has minimal or no protection value.

I must have misinterpreted the meaning of that.

@Luis Perez

To try and convince people who don't have any assets to protect that they need an llc is just very ill advised in my opinion.  

The amount of "wholesalers" who just left guru events and spend time money, get hung up on doing things they don't need yet, is huge. Most get so hung up on complexity of the unnecessary, or the complexity of the actual work, they never do a deal.

It is also not true that you need an llc to invest hold or flip. If you do this requlary and have significant assets worthy of protecting, it is advisable, but not required.

I know plenty of people who have all their properties in their personal name, have good insurance etc to provide protection. One of the things you will find out when you start investing in properties, the difficulty if getting financing for an investment property in an llc, most all banks require them to be in your personal name in order to lend on them.

My advise, do a deal or five, see if you can, or if you like it before wasting unnecessary money, then once you have money to protect set up the llc or corporation to protect it.

Don't get the cart before the horse.

There is nothing that requires you to have an entity to buy or sell real estate, likely 90+% of single family homes are bought and sold to and by individuals, not entities. 

Couple questions 

The house is worth 230, they owe 244.

Say you put 30 in renovation, 15 in selling holding closing, and you want to make 20, that puts selling price at 309,000

You think after renovation it can sell for that? 

If not how is this a deal?