All Forum Posts by: Jason Varney

Hi All,

I'm looking for an investor friendly agent in Jacksonville, FL to buy some BRRRR properties. I had about 6 units 10 years ago and have since sold them off as I opened a brewery 7 years ago. Looking to build up a portfolio again. I dont need a bunch of help sourcing properties, it'll mainly be for submitting a bunch of on-market offers. Any recommendations would be appreciated. Thanks!

Jay

No owner financing unfortunately. But yes you're right, one unit is rented out currently so I could work on some rehab in the vacant units and do things as I go on the other.

But no, I was not aware those type of DSCR loans were available. I'll have to look into that as a potential option as well

Hi all,

I have a good tri-plex opportunity for approximately 350k where i could put about 30K into it and have it rents totaling about $4500. I can get a DSCR loan but need 20% down and about 30k for rehab. I dont have any cash to throw into the deal. What are some creative ways I can come up with the down payment and rehab money? Partner with someone on the down payment in exchange for equity in the deal? Should I try to find private money to fund the whole amount and refinance in a year? What do you suggest as some good options for me in this situation? Thanks!

Hi all, I was looking forward to this but am sick as a dog so I won't be able to make it tonight. Let us all know how it goes and hopefully we can make this a reoccuring thing.

@Garrett Jacks Like anything else, it's good to introduce yourself and start a relationship with someone before doing business. Feel each other out, ask a few questions about their business, pricing etc. What i wouldnt do is have them start researching a bunch of things without giving them any business. But you'll build a good relationship by just doing some closings with them.

Fees are added into the HUD as closing costs and are paid by whoever is specified in the contract. You as the wholesaler, just show up and collect the check.

At the end of the day, it shouldnt really matter what the wholesaler makes. If the end buyer agrees it is a good deal, then profit doesnt come into play. Many wholesales have formulas they use and their purchase price builds in the profit they want to make on the deal. If they can negotiate it at that price then it works for everyone. If a good deal is buying property X at 40k, but the wholesaler is able to negotiate and buy it for 15k, why shouldn't he take a sizable profit? I know wholesalers who consistently make 8k on deals and have a customer base that keeps coming back for more because they are truly good deals in the end.

What I dont agree with is a wholesaler not being able to negotiate the price that is right for him/herself and the end buyer, yet trying to still take their sizable profit. Good wholesalers are good negotiators and unfortunately they can use this tactic with inexperienced buyers. While buyers should have a good understanding of the market and deals themselves going into it, alot of beginners rely on mentors and wholesalers to help them get started.

Im not sure what March looks like right now but if you throw some dates out I'll see what I can work with as we get closer.

No, closings are great! That's when you get paid so it's all gravy. I've done a couple and they take about 5-10 minutes. They have been easy ones with cash buyers and no snags.

@Anna Gross I've used All Florida Title on a couple of assignment closings and they do many of them. They are very knowledgable and investor friendly with these types of deals. Laura Reibsame is a good contact there.

I've used Cameron Gaskill of Suncoast Renovations before. He's a sponsor of JaxREIA and I know others have used him as well and been pleased.