All Forum Posts by: Jacob Michaels

@Tom Lafferty Congratulations on what sounds like a huge first step into the multi-family space! My wife and I may get into sizable multifamily at some point in the future.

I'm just curious, who's the mentor/"guru" you're working with? I like to try to familiarize myself with who's out there.

@Dustin Poole How's your investing in Dallas coming along?

@Matthew Philipchuk How's your investing coming along Matthew?

@Charles D. Welcome to BP Charles!

I'm a wholesaler in the Dallas area, so if you're looking for some wholesale deals to consider send me a PM and I'll see if there's a way we can work together

@Jeffrey Mark What happened with this possible deal?

I disagree with Wayne. If the property could cash flow easily renting at the current payments and expenses, and if you could get the deal with little or nothing going to the seller at closing, then it could be a great deal for an investor to get a property with existing financing without much out of pocket costs and without having to get another loan from somewhere else. You could negotiate great terms: with nothing down, taking over their payments, and flip this purchase contract to an investor buyer.

@Jason Walkowicz What was the final result?

@Jason Fraser FYI If you want someone specific to be notified so they can respond to a question just put a "@" symbol and start typing their name. After a few letters are typed you should see their name pop up at the bottom of the message text box and you just click on that and BP will insert the proper hyperlink.

Otherwise, people won't know you're asking them a question.

To answer your question: yes, you can wholesale a subject-to deal, as long as the agreement with the Seller has some verbiage showing that you can assign the agreement. A sub-to wholesale process is just like the a regular wholesale deal. You're wholesaling the contract to buy at those terms with your new Buyer.

Can anyone recommend a contractor to accompany one of my partners to a property visit today in South Dallas (75216) at 4pm?

My partner's from Australia and needs to make a decision basically today what to do with this property and I'd like to have an experienced person join him to more accurately estimate repairs and point out important issues. There's a good chance my partner will need him for the job as well.

I've got some wholesale properties in Dallas that I'm currently marketing, and came across a buyer from Australia who is in town for just another 2 months and is looking for a cheap property to pick up as a rental before he leaves.

I was curious so I asked him how he's going to manage his rental from OZ, if he's already got that part worked out. He said he hasn't, and I offered to make some recommendations after I talked with other investors in the area---so that's why I'm here.

Can anyone recommend a great property manager that they have first-hand experience with in the Dallas area, particularly are in the 75216 zip code?

Obviously experience working with international investors would be a plus.

Thanks!

@Chris Clothier Hey Chris, I know you mentioned you buy from a lot of wholesalers in the Dallas area, which makes sense as a turn-key company. What are your criteria for properties? I've got a few private wholesale deals right now and I'm always looking for more to match other buyers' needs.