All Forum Posts by: Katlynn Teague

Most of the deals I have bought have been right off the MLS. If an agent sends me the deal, I'll have them represent me. If I find the deal myself (on Zillow or driving around) then I'll just call up the listing agent and have them "represent" me.

I've found when I call the listing agent directly I end up with a better deal. When the listing agent gets both sides of the commission they will usually offer the seller a commission discount, which then makes my offer more attractive than other buyers who come in with their own agent.

Scott, I love to hear that! It is a great way of finding properties!

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Quote from @Lucia Rushton:

@Katlynn Teague if you are a realtor why don’t you work at a proper brokerage ?

Like you my experience is most wholesalers are not skilled, nor provide proper rehab costs, nor ARVs and over the last few years have taken most of the meat off the bone.

For seasoned investors it’s different, they have experience. But for new investors I don’t recommend it because they do not get to do any due diligence and no one is looking after their interest.

I also wish there was more integrity in the wholesale arena. As always just my opinion.

Lucia, thank you for the comment.

I do work at a very proper brokerage that is Nationwide. If you would like to do some research on us our company is Networth Realty and our website is NetworthRealtyUSA.com. Our brokerage was built upon integrity and class, which is why we have an A+ rating with the BBB.

I too have experienced wholesalers that are not skilled in the arena. These people are not active real estate, they pull comps off of zillow and propstream and have no idea how to calculate rehabs.

This is why our brokerage was started, we brand ourselves as a one stop shop. Everyone who works at our brokerage is a licensed agent, we have an extensive training period to learn all things wholesale and the investment side of real estate. We work with new and seasoned investors and a majority of our business is built off of repeat buyers. We are in this business to do good business.

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Quote from @John McKee:

Wholesalers are a key player for the investor. Realtors mostly focus on retail listings vs trying to maximize investor profits. Both have value just two different business models.

Absolutely, thank you John!

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Quote from @Brett Deas:

I do pretty much all on market deals. I like the off-market deals but for my clients I have a wholesaler I give them because he has a great flow of off-market deals. And for my own investing the properties I go after are all over the states and not concentrated in a specific market, so I don't have the time to start looking off-market nor would it be worth my resources.

How has it been managing all of these properties in different locations?

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Quote from @Scott E.:

Oh absolutely, that is a great way to find them!

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Quote from @Bob Stevens:

Quote from @Adam Macias:

Quote from @Bob Stevens:

Quote from @Adam Macias:

Quote from @Bob Stevens:

Most are clueless; however, I do get about 20 a week sent to me in my market from them. Most no nothing about the property except for the photos they were sent, (photos are meaningless) They say but bob look at the ROI, again they are clueless, they do not even know how to determine the net cap and know nothing about the area,. So they are very useful you just need to know what you are doing.

Also, all due respect I NEVER deal with realtors. I have done about 500 in my market and only used a realtor 10 years ago for a few. I have found that most NOT ALL, realtors do not have a clue either. They show up at a house not knowing anything about it. How many deals do not close as they are off by 20 30 40k ( realtor fees). They all have the same line. " Multiple offers highest and best". I have to tell them what to offer. Just last year when I purchased my primary. Ask was 650 I said offer 450, Oh no , that's to low, you will piss off the seller, (EXACTLY what I want to do) I am not comfortable putting in that offer. I said Ok I will deal directly with the owner. Oh, ok I will do it. Sure, enough got it for 525k including the 15k golf membership, realtor made 15k for DOING ZERO work. All she did was get us in. Not a bad gig.

So everyone needs to know their market, they should know exactly what to pay and where to buy. If they have to ask the realtor if this is a good deal they should not do the deal. Never leave that up to the wholesaler or the realtor,, know what you are doing.

All the best

You can't go around the wholesaler and it's actually a very shady move. That's why contracts exist.

Who said anything about going around a wholesaler ?

"you will piss off the seller, (EXACTLY what I want to do) I am not comfortable putting in that offer. I said Ok I will deal directly with the owner."
I'm talking in direct response to this sentence. Not saying you yourself have bad intent, but if anybody operates this way it's shady business. Contracts must be honored. Sellers can't take that contract and start bidding it to others... UNLESS it's assigned lol Anytime a buyer has tried that with me, I'm glad I warn the seller ahead of time saying buyers will do everything possible to try and convince you to take their offer.

You are misreading.... again. I was referring to the realtor not wanting to put in a low-ball offer. I tell the realtor I will speak with the owner. ( realtors are a waste of time for my reasons above ) You cant go around the wholesaler as they have a contract, nor would I want to. I get 20 deals a week sent to me from them.

Even working with an agent there is a contract involved. If your agent is not doing right by you and representing you on the offer you want to make then it would fall you you and the agent by not asking the right questions upfront. If your agent knows that you are an investor then they should understand that you have to be able to make a profit off the house.

1 Vote

Good Morning BP!

I am in the market to purchase my first house hack here in Atlanta.

The first deal I came across was a quad in Norcross, with a purchase price of $700k. The units needed about $20k each to get them up to 2023 standards for rent. Each unit is a 4 bed 3 bath, all units are currently rented at $1,200. However, when I pulled comps I was seeing 2 bed 2 baths more updated being rented at $1,400-1,600. So my thought was I could be able to get more for these units having two more bedrooms and another full bath. Could also padsplit one of the units and make more. However, the area of Norcross this property is in, is not the most favorable.

With that being said, I am still on the hunt for a similar property in a safer area, with a return between 8-10%.

Do you have any tips?

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Good morning BP,

How are you currently finding your deals?

Are you using an agent, wholesaler, Zillow or Propstream?

Have you found one outlet to be more successful than the other?

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Good Afternoon BP,

My client is looking to sell one of his lots however, I am very unfamiliar with the costs of new construction.

My bread and butter is single family fix and flips so this deal is a little out of my wheel house. Here is some information on the lot that might help. This lot is 1.16 acres and 0.6 of the lot is buildable with the remainder in a flood-zone. My client is a general contractor and said it would be perfect for a 4,000sqft home. The ARV of the area is $1.1-1.5m and is in the best school district in Georgia, if we sold this one at $220k would this be a good deal? What would costs look like when building a home of this caliber? How long does it take for a new build?

Thank you so much in advance!

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Quote from @Nate Marshall:

You don't need them or their inflated egos and assignment fees. You can work circles around them now using AI and the 3 P's. Privy. Propstrea and Propwire.

Nate, I have used every website you mentioned and if Propstream, Propwire and Privy suits you best then more power to you. I have found that those websites pull "comps" nowhere near the subject property over major highways and in completely different areas.

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All Forum Posts by: Katlynn Teague

Katlynn Teague has started 80 posts and replied 326 times.

Post: How are you currently finding your deals?

Post: What is your opinion on wholesalers?

Post: What is your opinion on wholesalers?

Post: How are you currently finding your deals?

Post: How are you currently finding your deals?

Post: What is your opinion on wholesalers?

Post: Looking to purchase my first House hack in Atlanta, tips?

Post: How are you currently finding your deals?

Post: How do you determine new construction costs and is this a good deal?

Post: What is your opinion on wholesalers?