All Forum Posts by: Marcus Steed
Marcus Steed has started 2 posts and replied 8 times.
Post: Must have clauses in your wholesale contract
- Flipper/Rehabber
- Omaha, NE
- Posts 8
- Votes 5
I am buttoning down the specifics of my wholesaling purchase and sales agreement. I'm not sure which clauses I should have and what they protect me from. Hoping to hear from you guys, some of the clauses you use and why?
Post: Any good resources to calculate ARV and renovation estimates?
- Flipper/Rehabber
- Omaha, NE
- Posts 8
- Votes 5
Quote from @John Cha:
Hi, I'm fairly new in this wholesaling niche and would like some guidance for how to gauge for ARV and renovation estimates? Any general guidance for what to look for in viable wholesale properties would be greatly appreciated as well. I look forward to connecting with you all!
Hey, just wanted to say great question. It also helped me a lot to see the responses. I hope the best for you in your market.. I commend you for having the strength to ask on the forum. Unlike me who researches on Google for hours instead of taking advantage of the infinite knowledge here. I'm working on it however. Haha. Good luck!
Post: Any good resources to calculate ARV and renovation estimates?
- Flipper/Rehabber
- Omaha, NE
- Posts 8
- Votes 5
Quote from @Norberto Villanueva:
Hello, John! There are many useful resources for ARV like, Zillow and Trulia for starters. Many wholesalers love Propstream. The "problem" with these is their use of average $ per sq ft to set value, which is only a ballpark and less desirable than say, a quality CMA from the investments knowledgeable friend in real estate (agent/broker) you'll be sure to include on your team :). And, whatever you do, reciprocate. Make it worth their while by offering your friends dibs on the deal! Oh, and make sure to include the projected rental values (and metrics) buy and hold investors like for some reason ;), for which Rentometer does a good if not great job, at least in most MSA's, not so much in rural areas.
Loving a wholesaler concerned with quality repair estimates, I like and use Homewyse, quite a bit. All the best!!
P.S. - I'm always happy to help.
Post: What’re your goals for 2023? Let’s motivate one another!
- Flipper/Rehabber
- Omaha, NE
- Posts 8
- Votes 5
I love everyone's goals, they are truly motivating. I made my first post about 6 months ago, a lot has happened that has slowed progress but not stopped it. And now I feel once again I am on the cusp. My goals for 2023 include officially starting my wholesaling business as of Jan. 1st. I would like to lock down my systems and automate my first niche 100% by the start of the 4th quarter. That way I can target the next niche by the end of 2023 on my way to large multifamily purchases. Best of luck to all of you! May we all stay focused and push forward!
Post: Hello From an Aspiring Investor
- Flipper/Rehabber
- Omaha, NE
- Posts 8
- Votes 5
Quote from @Justin Windham:
It’s great to have you on the forums!
This site is great if you are looking to invest into real estate.
If you are looking to connect with other members near you, or want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/users
I really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts
Thank you. It already feels good to wake up and aee notifications from BP. Those are very helpful, with me being new in town. I will definitely look into that TODAY.
Post: Hello From an Aspiring Investor
- Flipper/Rehabber
- Omaha, NE
- Posts 8
- Votes 5
Quote from @Dylan Michaels:
Best of luck in your pursuit of riches in the Real Estate world.
Post: Hello From an Aspiring Investor
- Flipper/Rehabber
- Omaha, NE
- Posts 8
- Votes 5
Quote from @Steven Foster Wilson:
Quote from @Marcus Steed:
Good morning BP family, my name is Marcus. I'm a twenty seven year old father of 4. I have very recently relocated my family and I to Nashville, Tennessee with the intention of becoming a reputable wholesaler in the area. With that being said, I have yet to close my first deal. Or hunt one truly. However I am ready and willing to put in the work and hours it requires. I've never been majorly social when it comes to an online presence or forums/blogs. So bear with me as I get more comfortable. I guess I just wanted to say hello, and I can't wait to become more of an active member in this community!
Welcome Marcus,
I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosak to anyone who is starting out. Start listening to the BiggerPockets podcast starting at the very beginning. Start growing your network, look on Facebook/BiggerPockets for different events, find a mentor who is doing what you want to do, and get to know the local lenders/brokers. The more passionate you are the more people will see and want to be apart of what you are doing.
Thank you for the words of advise. Reading Rich Dad Poor Dad led me directly into Rich Dad's guide to investing. The combination of those books planted the seeds for me to begin investing and overall showed me there is a way out of the rat race or hamster wheel, if you will. I have already started on the BP podcast, from the beginning. Currently I am on episode 35 and already I have heard so much different valuable information. I'll be proud and more than happy to complete my goal of catching up. And I will take your advice about just reaching out and becoming active about this passion. Thank you one again!
Post: Hello From an Aspiring Investor
- Flipper/Rehabber
- Omaha, NE
- Posts 8
- Votes 5
Good morning BP family, my name is Marcus. I'm a twenty seven year old father of 4. I have very recently relocated my family and I to Nashville, Tennessee with the intention of becoming a reputable wholesaler in the area. With that being said, I have yet to close my first deal. Or hunt one truly. However I am ready and willing to put in the work and hours it requires. I've never been majorly social when it comes to an online presence or forums/blogs. So bear with me as I get more comfortable. I guess I just wanted to say hello, and I can't wait to become more of an active member in this community!