All Forum Posts by: Matt M.

Are you factoring in capx, and other expenses? I personally wouldn't to it, but everyone is different. 

I've got a new listing that has had ok traffic. I'm launching 3 flips this month, so I'm hopeful. Rates are scaring people off again. Congrats on the listing!

I've done the cheap ones from window world. Make sure to check and see if you need a permit. A LOT of Cities require it and have minimum specs for the windows. I did a deal where I got a slightly upgraded window. If I had gone with the cheaper one, the City would have me replace them with the upgraded one. 

Your network will have the best deals for free, so use that first. I'd keep going the wholesaler route unless you are going to spend five figures a month and build out a lead gen team. The competition is fierce here in Colorado. What I've found is that it's better and cheaper to network to find deals. Sure you have to pay the wholesalers, but then you're not paying to chase leads and payroll. I closed on 2 this month and gladly paid my guys to bring them. 

Quote from @Scott Trench:

Why anyone would sell their $400K+ property for a 10% discount through a wholesaler when they can list it and get full market price right away is beyond me. I think wholesaling must work in areas that are slower, sleepier, and lower price than Denver. Though I'm sure there are a few exceptions in the wholesale world that will prove the rule. 

 Wholesalers serve a function in any market, and it's still thriving in Denver. They move the bad properties. A lot of time these properties are in need of significant work and people just want quick cash. I agree that they should list, but they don't for a lot of reasons: speed, out of state, embarrassment, etc. The most mind blowing ones are where agents bring deals to sell off market.  Why they would do that to their clients is beyond me... 

Quote from @Scott Lepore:

150k spread is usually the best they offer on a 500k ARV house.

$150k spread is usually too tight when you add soft costs. The wholesalers are eating your profit. Scope of work generally dictates what I do. I'll do tighter lipstick deals, but they still need $100k+ spread. I'm at $200k+ for more involved projects. 

Would she entertain a seller carry? Then she gets cash flow and a little starter cash. That or sell and put into index funds. 

ADUs as investments don't pencil. Your money is better spent elsewhere. 

I've done a ton. My first year we did over 400. However, your best bet is to skip trace the owner first and get it before it goes to auction. You won't win at the old boys club. There are a couple of hedge funds that pick up everything. Odds are it won't even get to the sale. I watch it weekly. Maybe a few go per week. 

Look at hemlane dot com. A few clients have been using it. So far, so good.