All Forum Posts by: James Heller

Hi @Jarrett Cosgrove -- I have been working with real estate in the Denver metro area and considering going north. Right now I am probing south (CO Springs + Pueblo), but Fort Collins is very likely on the list later in 2022.

How has it gone so far? My wholesale business has had several big wins in Denver, I'm not finding a $10k deal every week or so -- More often a $40k deal in a 3-4 week span. In terms of tips and tricks it would be good to know how far you are today... What is your main marketing method right now? What have you found to be successful? 

There is no 'magic' recipe, it took a lot of hard work to pull down the first few deals. You probably hear this everywhere, completing your first deal is an enormous breakthrough that will make everything make a bit more sense.

I've come across a few cases where a motivated renter has renters. This is fairly easy to deal with if they are month to month, but how about a year or more?? 

Some landlords have renters they are really not happy with, but can't evict due to covid restrictions. Is there anything you can do in these types of situations?

Thanks!

@Charles Carillo That's an awesome idea, I hadn't thought of that as a tax strategy.

When would that tax period be up? For instance, if they sold in 2020 could they sell again in 2021 under a new tax year? Or is it April to April or something?

James

I've made contact with a few folks who have several properties (sometimes from the 80s and 90s!) that are ready to cash out. Only problem is, they don't want to get slammed on taxes! I've suggested a 1041, but for somebody looking for cash this is obviously not a great option. 

Are there ways for these sellers to protect their hard earned equity and create an awesome deal for both of us? Thanks in advance!

Hi all -- I'm working a deal right now with a motivated seller. We have great rapport, and he is definitely planning to sell within the year. He has made it clear that it's important that he has another home lined up before selling his current property.

I have two main questions. It's March and he likely doesn't want to move until November. Does it make sense to wait until talking numbers? Does anyone ever do a contract that's 6+ months out? Also -- what are thoughts on building in a contingency to find another home before we close?

Thanks in advance!

James