All Forum Posts by: Meghan O'Connor

Thanks for arranging Leslie!  See you all then.  :))

You have to see what's in the contract...you're essentially going to be the one who owns it right?  I wouldn't sign that assignment contract if I were you..you're signing blindly..what does that wholesaler have to hide?  How much he is making could be the least of your problems.  I would ask to see it asap...he's basically selling the contract to you and you should know what you are buying. :))

Hi Dustin,

Your scenario 1 represents your MAO (or what you offer your motivated seller)

Your scenario 2 represents what an investor is willing to pay.

Whether it's .70 or .75 (or even less), depends on your market...it varies..You should get a feel for your area and what your investors' goals are. (in my equation I put a range because investors I work with tend to use .75)

MAO= ARV (.70-.75) - Repairs - wholesale fee (mao is what you offer motivated seller)

end buying Investor is willing to pay: ARV (.70-.75) - repairs

So in your offer to the motivated seller, make sure you account for your wholesale fee.

the price you give to your end buying investors is your MAO number plus your wholesale fee

Hopefully I was clearer than mud!!

Thanks to all in this thread who have served our country btw...you aren't thanked nearly enough imo...

Yes, Justin has a right on answer.

Specifically, in determining MAO

Mao=ARV -repairs- investor profit-wholesale profit -(buy/sell/hold costs)

As a rough estimate many will do a quick check:

1. ARV(.70-.75) -REPAIRS - WHOLESALE FEE= MAO  (some very successful investors in my area use ARV X .75...but please note, that that is MY area)   This quick check doesn't always hold true..it depends on the ARV/area of investing.. etc...but you definitely get a feel for what your investors are looking for with a little more experience.  As long as you are making a good effort to try to come up with a good offer, then your investors will work with you...and you can learn from them, in finding out what their rules of thumb may be.  But like Justin said, if it is a good deal, you'll know it, because your investors are going to let you know immediately!  It's a virtual no-brainer.  :)))  

Hi Rico

Sorry for the confusion!  No, CV Rancho is still on I think for next time!  But I know Leslie is always trying to come up with new places to meet. Those two just came to mind for the future.  :))

Hi Leslie,

Did you get my invite to the tiny house meet up group?  You can always go to the link that jenifer gave above too!

I was thinking of a potential place for future meet ups...Turn 12 in Monterey :))

Also, the new place in the Barnyard called "SUR" looks nice..I was in there yesterday and I don't think it's very busy yet as it's only been open about 2 months. 

Will see you in June at the next meeting...I'm so glad I'll be home for it..going back east to the Jersey shore a week after that!  I'd love to get together the weekend you're down.

See you soon!

Meghan 

Ok..am officially a member of your group!  I look forward to meeting you and other tiny home investors, and I also let Kathleen and a few others know about the meet up group.

Thanks Jenifer. :))

Meghan 

hi Jenifer,

Yes bummer!!!  We were really looking forward to meeting you!  I know that Kathleen, myself, and Leslie were really looking forward to talking to you about your little tiny home village project.  It sounds intriguing....very HGTV...and such a perfect niche for this area in particular!

There is a SJ networking meet up next week (wednesday May 25th) at Harry's Hofbrau in San Jose.  i will be there, but I don't know who else will be...don't know if you'll be in the area then or not.  Monterey group meets bout every 3 months, but I attend about 3 meet ups/month..there is always something going on..I have to go about an hour north to get to one, but it's somewhat convenient.

Let us know when you can make one..we look forward to meeting you!

Meghan

PS: we're really easy to keep up with in the party animal department!!!