All Forum Posts by: Eric Benzenhoefer

Hey Larry,

I had a similar thought about starting a business to serve the commercial real estate world as learn the investing side. What was the result of your journey from a year ago?

@John Thaxton,

Hey John,

Any update on your progress? Did you meet with/interview and GC's? If so did you pick one? And if so what is your feedback?

Any update Nick? I have had similar thoughts about commercial. I am by no means an expert but I have put in one offer on a commercial property and am looking at on right now.

What has your experience been like since the last post?

I am a wholesaler and I look through the tax suits to find motivated sellers. Some property owners can be hard to track down as I am sure that they get contacted by creditors all the time.

Is there anyone in BP who works with a tax suit attorney or anyone involved in the suit to let the defendant know that there are cash buyers out there for them if it helps their problem?

I would like to know if anyone has had success to see if I should pursue it.

After reading through Brandon Turner's post on building a website I realized that I needed a name for my wholesaling company before choosing a URL.

Does anyone know of a crowd sourcing site to help name a company? I am hoping to do the same functionality as NameLab at a lower price.

[http://www.biggerpockets.com/renewsblog/2013/06/01/how-to-build-website/]

Kenneth E. Thank you for the response, but that is not exactly what I was looking for. It may have been due to a poor explanation, so let me clarify.

I am looking for the specific real estate term that is a website or company that sells leads to wholesalers.

For example, if I was looking for people who are ready to sell their house at a discount, knowing that the term is "motivated seller" would make all the difference in a search in google or bigger pockets.

and again, if I wanted to know how to find people who sold houses to investors, knowing that the term is "wholesaler" would make all the difference.

Does that clarify what I was looking for?

Great topic everyone! I am trying to set up an automated wholesaling business so I was particularly intrigued by # 65 (referenced above)

Does anyone have experience using these sites that can speak to the costs per closed deal of using the services?

OR if this is covered else where in BP, would a veteren mind sharing a few key words that I can search the BP forums to read up on them?

Randy F., thank you for the reply. What is the ratio of pre-purchase estimates that you have a contractor out for compared to contracts that they get for work?

In other words for every house that the contractor is working on, they have come out for how many detailed estimates, and looked at how many houses for pre purchase estimates.

@Gordon T. Thank you very much for the blessing. I have sent an email to your posted email address.

--Book Feedback?
@The Group, has anyone used the book FLIP: How to Find, Fix, and Sell Houses for Profit by Rick Villani and Clay Davis? If so do you have any feedback on the rules of thumb section for rehab cost estimates?

--Strategy Feedback?
I would assume that good contractors want to minimize house visits that do not turn into work. So are their any good posts on an efficient strategy to get good estimates without wasting peoples time?

This was my plan, and I would appreciate any feedback
1. Use the book "Flip..." to get a good ballpark
2. Talk with the seller to be and make an offer based on that estimate
3. Put down a refundable escrow and make the offer contingent on my professional estimate
4.Then bringing out the contractor for the final estimate.
5. Negotiate needed changes in the offer
6. make the deal or walk away.

I am in Houston and also just starting out. I am reading a book that is associated with this website http://www.homefixers.com/estimating.php
I have not used them, but they are in the business of making estimates for REI people like yourself. Since you are not in Houston, I am not sure if there is a group that can provide this service in your area. Maybe they can refer you.

Also they have a phone estimation service. In their book, they lay out some rules of thumb for rehab estimation, so I would assume that they would ask you questions over the phone to apply their rules of thumb.

Has anyone in the Houston area used this service and can comment on it?

The book is on the sites home page. http://www.homefixers.com/default.php