All Forum Posts by: Alex Jefferson

Hello everybody.

So I started to really look into wholesaling this past August and I set out a plan to start placing homes under contract starting January 2012. In the 4 months prior to January I was going to build my buyers list, find an investor friendly lawyer (which I did thanks to the good people here at BP) and to learn as much as I can about the wholesaling business.
I currently have a buyers list of about 110 investors. 50 in NY and 60 out of NY. I feel as if I have learned as much as I can learn about wholesaling and now the only way to learn more would be to actually start the process.
Where I live, the average home is around $300,000 - $350,000.

I'll be looking to place homes under contract for about 50% - 60% of that. Here's an example...

Home as an ARV of $300,000
I place home under contract for $165,000
Place it on the wholesaling market for $175,000.
Profit potential of $100,000+
My assignment fee = $10,000

Am I missing anything?

Thanks, this board really is the best.

Hi there, sorry to just jump in but I was wondering why LA would not be a good place to wholesale? Just asking...thanks.

Good luck man. Please keep us updated on the progress.

I think the law only goes for Westchester/Putnam counties and the 5 boroughs. I could be wrong though. To everybody else, thank you for the info. It's really appreciated. :cool:

Thanks..I just tried to send you a PM but it wouldn't let me. Can you send the information to my e-mail address?
Thanks again!!!

Yes please, I would really appreciate it.

Hello everybody! I started my LinkedIn account a couple of weeks ago and I just wanted to connect with some people.

I'm hoping this can be the thread where we can all exchange our LinkedIn information.

You can find my profile here: http://www.linkedin.com/in/914wholesales

Look forward to hearing from you guys soon!!

Have a great day!!

:D

Thanks a lot Michael, I sent you an e-mail.

Hey Jocelyn, it could be a # of different things like divorce, maybe their job is transferring, maybe they inherited the home or maybe their making double payments. Plenty of different ways to go about this. I'm brand new though so I'm learning also. I'll keep my eye on this forum as I'm really interested in hearing what people have to say.

Hey guys, I'm putting together my team (Lawyers, Contractors, Appraisers) and I can't find any lawyers that are willing to handle the contracts. I've only asked 2 so far and they weren't that experienced. In NY an Attorney has to draft the contracts. Would anybody know of any lawyers that are willing to get some extra work with me? Finding a lawyer that's willing to do wholesale properties is like finding a needle in a haystack.
Thanks guys in advance!!!