All Forum Posts by: Heather Skowronsky

You have to be sure you are complying with all of the disclosure laws obviously when dealing directly with people but you also have to be sure you are in compliance  (with both the law and your brokerages requirements) when you are doing any mailings.  If you are an agent and you are sending direct mail (or any print advertising for that matter) you have to have your brokerage's name, phone number and address on all of your mailings.  You also have to disclose that you are a licensed agent as well.  I'm a licensed agent and investor too :)

@Russell Brazil I agree with what you are saying coming from a Realtor/Broker stand-point.  So what is your solution for wholesaling in the DMV if you are a licensed agent?  Just better not to do it?  Thanks in advance!

Hi @Kyandrea Fowlkes  I am a rehabber in Northern Virginia and I'd be interested in any wholesale deals you may have.

Hi Gabrielle, could you provide me more info on this property?  Thank you!

There were many photos of the interior that the wholesaler provided.  I have not done a transaction with the wholesaler yet but I have been to a few of their walk throughs and have concluded that they are rather close when it comes to estimating the budget/scope of work.  In any event, this was too risky for us.  Someone did end up bidding on it, I will have to keep a close eye on it to see how it plays out!  Thanks for all of the suggestions and insight. On to the next one!!

Hi BP friends!  Today I was scheduled to meet a wholesaler at a potential flip for walk through.  Closing was to be on Monday 10/31. I have all of my ducks in a row to be able to have the contract assigned to me and close on Monday.  As of this morning the owner has decided to refuse to let anyone in the property while they still own it.  The wholesaler has assured me that they are still vacating the property.  I have photos of the interior from the wholesaler and the home is about 30 years old in a great neighborhood.  The wholesaler has estimated the home needs about $85,000 in renovations.  He assumes there was some sort of a leak in the basement.  We expect we will need to re-finish the entire basement, all new paint and flooring throughout, update kitchen and baths.  The exterior is in great shape.  (I have driven by already).  While I have experience flipping, I haven't bought a flip without seeing the inside.  Any suggestions from those of you that have?  What are some of the horror stories?  What should I also budget for?

I am a realtor turned investor and I find that being a realtor is extremely advantageous. I am extremely familiar with the market and can identify when the market is starting to change, etc. I can also come up with a quick ARV off the top of my head if the home is in my local market. The only negative I can see is the fact that some sellers view agents as "bad" and "greedy." With mailouts, you have to disclose your brokerage info which can deter some people. I highly recommend getting your license!

@David Cowan I wouldn't quit after the 2nd mailing even if you don't get any calls.  While you are used to getting calls on the very first mail out, not having any calls until the 4th, 5th or 6th mailout isn't very uncommon.  Give it a few more mail outs before you give up on the list!

Best of luck!