All Forum Posts by: Ismail Sogbaike
Ismail Sogbaike has started 31 posts and replied 41 times.
How would i determine the amount cost for repairs, and is it normal for repairs to be more than what the home is listed for?
Just had a conversation with a potential cash buyer telling me that it won’t work, my purchase price was off. How do I determine my purchase price for a wholesale deal if they could just look up the deal on Zillow and see how much it’s listed for and won’t except my price.
What formula should i use to find my MAO, and what how exactly do i find what a property is worth.
Im finding deals and through cold calling, and confirming that the seller is willing to sell their property cash or creative finance. I presents the deal to my partner, and he handles the negotiation and structuring of the deal because he is more educated than I am. How much of a percentage of the wholesale fee Does someone in my position gets wet, splitting it with a partner. Me and my partner have never talked about this, but I want to know just in case for future purposes.
Post: How do you pitch creative finance to a seller
- Posts 43
- Votes 10
I finally got a good lead while cold calling but the seller is stubborn and wants too much of a high price. No I believe i can use this opportunity to offer creative finance, my problem is how would i do that.
Post: What is seller finance and how could i and my seller benefit from it
- Posts 43
- Votes 10
I had a call with an agent and they basically told me that this seller has had the property under contract in the past a couple times, but the whole sellers and investors that were handling the property didn’t do proper due diligence and missed out on the deal. The agent told me that the seller won’t take anything below their specific price. So I thought to myself, if I knew creative financing/seller finance, maybe I could’ve offered some terms to the seller.
What is the complete formula to analyzing/ running the numbers on deals
What are some things i need to consider when running the numbers on a wholesale deal to make an offer/ how do i run the numbers?
Quote from @David Ramirez:
If you meant how to know if the property would be a good deal for your investor/end buyer. That depends on your pool of buyers and their exit strategy. If you don't have a pool of buyers yet I would say a good deal to find a buyer fast would be offering a property at 70-75% ARV - Repairs.
As a new investor what makes a wholesale deal a good deal.