All Forum Posts by: Katlynn Teague

Mark, wholesaling is not a waste of time. You've stated that you're willing to work hard, continue to do so and you will see results. Wholesaling is like pushing a 10,000lb rock, takes a lot of effort to get it moving but once it does it keeps on moving. 

Take time and practice your phone script over and over. Get to know the people your talking with, from the lists you're calling these people have been through a lot. Treat them the way you would want to be treated in that situation and come to them with a place of care. Bring solutions to their problem! 
If your using a dialer sometimes the number will be marked as spam. Try using a different number on the dialer and see if that helps. Also, I know you can program voicemails, have a different voicemail for the divorcee deals than the vacant ones. Send a text as well, if the number does go straight to voicemail.  

Don't listen to anyone telling you it is a waste of time. This is a great way to earn capital you can use to invest in real estate to have your own flips or rentals. Keep grinding, and best of luck to you! 

 Randy, thank you so much for taking the time to comment. All of the information you provided was very helpful and has made 1031 alot easier to understand! 

 Dave, thank you so much! I will be on the look out for your Dm! 

Good morning BP,

I am curious about 1031 Exchange and have a couple of questions. 

How did you start using 1031? What are the benefits? Are there rules associated with 1031 or any specific guidelines that need to be followed? How do you like using 1031? 

These questions are because an agent in my office has a buyer who purchases every property through 1031. One of the buyers I work with is looking to get into 1031 and they purchased a property from me back in February of this year. The agent called me asking if they would be able to use 1031 on this property. I referred them to a 1031 advisor, to answer their questions and run them through the process. 

I know little to nothing about 1031 and wanted to ask the experts on here, to have more insight. 

Hey Alyssa! I would love to connect.

 Absolutely agree! 

Fix and flip real estate investing can be lucrative, but it's not without risks and challenges. Understanding and avoiding common mistakes can significantly increase your chances of success. Here are some key points to consider:

1) Overpaying for Properties: One of the biggest mistakes in fix and flip investing is paying too much for a property. As everyone knows, you make your money when you buy. It's crucial to accurately assess the property's value, considering factors like location, condition, and potential after renovations. Conduct thorough market research, evaluate comparable sales, and work with experienced real estate agents, wholesalers, or appraisers to determine a fair purchase price.

2) Underestimating Renovation Costs: Accurately estimating renovation costs is vital for profitability. Many beginners make the mistake of underestimating expenses, leading to budget overruns and reduced profits. It's crucial to thoroughly inspect the property with your contractor, identify all necessary repairs and improvements, and obtain quotes from a reliable contractor to create a realistic budget with wiggle room.

3) Poorly Managing Timelines: Effective project management is crucial in fix and flip investing. Failing to create a detailed timeline and stick to it can result in delays, increased holding costs, and missed opportunities for resale. Plan each phase of the project, coordinate with contractors, and monitor progress closely to ensure timely completion.

4) Neglecting Market Trends: Real estate markets are constantly evolving, and staying informed about current trends is essential. Ignoring market conditions, such as shifts in demand, inventory levels, or interest rates, can lead to difficulty in selling the property or lower returns.  Stay updated on local market dynamics to make informed investment decisions.

5) Inadequate Marketing and Staging: Presentation matters when selling a renovated property. Poor marketing or inadequate staging can hinder your ability to attract potential buyers and maximize profits. Invest in professional photography, create compelling property listings, and stage the property to showcase its best features. Effective marketing and staging can help generate more interest and higher offers.

By being aware of these common mistakes and taking proactive measures to avoid them, you can improve your chances of success in fix and flip real estate investing. Learn from experienced investors, seek advice from professionals, and always conduct thorough research and analysis before making any investment decisions.

Why should an investor work with a wholesaler over a real estate agent on the purchase of distressed properties? 

If you're an investor looking to buy distressed properties, you may be wondering whether to work with a real estate agent or a wholesaler. There are pros and cons to both, but in many cases, working with a wholesaler can be the best option.

Here are a few reasons why you should consider working with a wholesaler:

• Wholesalers have a network of investors. Wholesalers typically have a network of investors who are looking to buy distressed properties. This means that they can quickly find a buyer for your property, which can save you time and money.
• Wholesalers can close deals faster. Real estate agents typically have a lot of listings, and they may not be able to close a deal as quickly as a wholesaler. This is because wholesalers are typically focused on finding buyers for distressed properties, and they have a network of investors who are ready to buy.
• Wholesalers can save you money. Real estate agents typically charge a commission, which can be as high as 6% of the sale price. Wholesalers, on the other hand, typically charge a flat fee, which is much lower.
• Wholesalers can help you avoid hassle. Buying a distressed property can be a hassle, especially if you're not familiar with the process. Wholesalers can help you with everything from finding a property to closing the deal.

Of course, there are also some potential drawbacks to working with a wholesaler:

• Wholesalers may not be as experienced as real estate agents. Wholesalers typically have less experience than real estate agents, and they may not be as familiar with the local market.
• Wholesalers may not be able to get you the best price. Wholesalers are typically focused on finding buyers quickly, and they may not be able to get you the best price for your property.

Ultimately, the decision of whether to work with a real estate agent or a wholesaler is up to you. If you're looking for a quick and easy sale, and you're willing to sacrifice some money, then working with a wholesaler may be the best option for you. However, if you want to get the best possible price for your property, and you're willing to put in some time and effort, then working with a real estate agent may be the better choice.

Here are some tips for finding a good wholesaler:

• Ask for referrals from friends, family, or colleagues.
• Check online reviews.
• Interview several wholesalers before making a decision.
• Make sure the wholesaler is licensed and insured.

Working with a wholesaler can be a great way to buy distressed properties. By following these tips, you can find a good wholesaler who can help you get the best possible outcome for your purchase.

Here are some additional reasons why investors should work with wholesalers over real estate agents on the purchase of distressed properties:

• Wholesalers are more likely to be familiar with the distressed property market. Wholesalers typically specialize in buying and selling distressed properties, so they have a deep understanding of the market and the types of properties that are available. This can be a valuable asset for investors who are new to the market.
• Wholesalers can provide investors with access to properties that are not listed on the MLS. Many distressed properties are never listed on the MLS, so they are only available to investors who know where to look. Wholesalers typically have access to these off-market properties, which can give investors a competitive advantage.
• Wholesalers can help investors negotiate better prices on distressed properties. Wholesalers are often in a position to negotiate better prices on distressed properties than investors can on their own. This is because wholesalers have a relationship with the sellers and they know what the sellers are willing to accept.

Overall, there are many reasons why investors should consider working with wholesalers over real estate agents on the purchase of distressed properties. Wholesalers have the knowledge, experience, and access that investors need to find and acquire distressed properties at a profit.

• Good morning BP, why should you invest in Atlanta over other cities? 
• Strong job growth: Atlanta is one of the fastest-growing cities in the United States, with a strong job market. This is a major driver of demand for housing, which is helping to keep prices rising.
• Affordable housing: Atlanta is still relatively affordable compared to other major cities, which makes it an attractive option for investors.
• Diversity: Atlanta is a diverse city with a growing population. This diversity is a major asset for businesses, which is helping to drive economic growth.
• Investment opportunities: There are a variety of investment opportunities available in Atlanta, including single-family homes, multifamily properties, and commercial real estate.