All Forum Posts by: Louis Siano

@Brian Garrett thank you very much for responding... definitely something I will have to adjust in my future deals. Finding an algorithm that works for my market I’m finding is tough!

@Pablo Ottenwalder Jr. thank you for the insight... I will definitely have to adjust my prices... is your group strictly wholesalers?

@James Green thank you for responding! But I would argue that my buyers from wholesaling do not care where the deal comes from as long as the numbers make sense. I do wholesale deals on the side as an increase in my revenue but was just curious if this was something that people did.

@Blair Poelman wow that’s good insight thank you very much for responding! Exactly what you said Blair... I’m not doing a bunch of wholesale deals here. Just an additional way to increase my revenue. But I was just curious if people that wholesale deals full time were getting their license as well.

Are there any wholesalers that have their real estate license? I’m thinking about getting mine just as unlimited access to the mls and was wondering if the pros outweighed the cons in this scenario

I am a wholesaler In the springfield MA area trying to figure out if a deal is worth it/ if anyone is going to buy the contract due to a lot of work on the property to get to ARV. It’s buy for 60k, 40k rehab costs, and ARV 150k. So the question is this... what typically does a rehabber look for in terms of relating cost of repair to profit. this house is 50k profit... just so I know what to sell the house for and stop wasting peoples time.

@Orlando X Nieves welcome orlando! It all starts by doing your research. I am new as well but in the last 5 months of listening to podcasts and reading I’m still learning but I think I’m almost where I want to start. It’s about what you’re comfortable with. BiggerPockets is a huge source for any type of information necessary to start your career! I would recommend listening to podcasts and reading about real estate and if you have a question about what you learned from either source look it up or post about the topic on here to see what people say. Many people in here love sharing their knowledge. Good luck!

@Adam Widder that helps a lot thank you! That is all great advice! Protecting tenants is definitely one of my top priorities. The last thing I want on my conscious is a tenant getting hurt because I did not take the proper precautions to secure the property. I will definitely do some more research and see if there are any holes in the neighborhood that might be worth investing in

@Alex Whitmore I could not agree more! The satisfaction of helping others exceeds a lot of the risk involved when everything plays out accordingly. I might just watch the area for a bit and see what trends are like for now, and if I see an opportunity in a decent neighborhood I might just jump on it.

In my area there is a city that has a bad rep for crimes, is lower income housing, etc. A new casino just was put up in the busiest part of the city, springfield Massachusetts and I’m noticing a lot of high end renovations happening around the area. I heard it was also a good idea to follow Starbucks as knowing where a good opportunity is/ an improving neighborhood and they even built a Starbucks next to the casino as well. I was told to stay away from this city due to crime rate but houses are so cheap and with the new casino/renovations I believe that the area will be exponentially increasing in value in the following 10 years... I was curious as to what thoughts are on the topic...