All Forum Posts by: James Baker

@Curt Davis

Thank you for the reply.  I appreciate the insight.

Hello B.P. family.  Question for the subject matter experts out there.  As a bird dog, how can I ensure that the wholesaler/investor I am bringing deals to, are not taking them for themselves and not paying a fee to myself once I bring them the deal?  Example would be I bring a deal to them, and they just decide to do the deal and not cut me in.  Mean while, I am none the wiser.  Is it customary to do an actual written contract with the buyer?  I appreciate your time and knowledge. 

Thank you,

Concerned Bird dog

@Thomas Burnett

Keep up the good work.  Brush off the haters.

Hello BP nation. Question for those with experience and or knowledge in the process of BRRRR. This might be a crazy question but is there a reason why people do not use a HELOC vs. a refinance during the BRRRR process? I understand the differences between the two. The one big difference that I see between the two is that a refi could cost up to 5k or more in closing cost. Where as a HELOC you would pay a much lower amount to ba able to pull money out of a deal. Any insight would be greatly appreciated.

Thank you 

James Baker

 @Nicholas Burrell. I am in Grand Rapids.  Get InTouch if you want to or if you are in town.  My wife and I love meeting fellow investors.

That is awesome.  Good luck and I look forward to more video's.

Thanks for the responses. I am not concerned with how much money the wholesaler made off of a deal. That is their business. What I was asking is, is there a max percentage of ARV to pay a wholesaler as a rule of thumb? Just as wholesalers use the 70% of ARV formula. I don't care if they make a million bucks off of me. I just do not want to over pay for a house from a wholesaler.

Hello BP,

I could use the expertise of the BP community. I wanted to know if there is a common number or rule of thumb when an investor is purchasing a property from a wholesaler. I understand that wholesalers try to target their purchase of a distressed property at 70% of ARV minus repair costs. But what would an investor want to pay from the wholesaler? Thanks in advance.

Cash for keys.

Unless it is consistent negative and inappropriate posts and comments, it would not be fair to hold a silly post or two against a potential tenant ability to be a good match for your property.