All Forum Posts by: Michael Garrison

There is a local reia meeting in Daphne. Google P.I.G.-Professional Investors Guild.  It will give you the date and time of the next meeting. Great group with lots of opportunity to network. Matt Robinson hosts the event and is one of the most knowledgeable investors that I have ever met. I would recommend attending. First one is free. Then very affordable if you should decide to join. If you join, please use me as a reference,  I'm trying to win the prize at the Christmas party this year. Lol.

There are only a few that really do a great job in the area and it would really depend on what you are looking for out of them. @Matt T. is super happy with his. And I would also recommend talking to @William Allen and @Jay Helms about theirs personally. These guys opinions come highly regarded in the area. If you're doing Higher end properties i would recommend Barrons Property Managers, Inc. Look them up on google. Hope this helps.

 James Is so right here. The gentrification is very much in full force and there are some great properties to be rehabbed. There are some others that need to go away. I see it bringing a much needed tax base  as well. Yes, he gets out on property tax for a bit but the influx of cash that will be spent in the down town area is going to skyrocket. So I think that will offset any property tax that is not paid. The entire area should thrive behind this project. I'm hoping the traffic issues don't get to bad. Maybe it alleviates some of It. Guess we will see.

If Bill doesn't want to take it on I will give it a shot for you. I habe done several co wholesale deals with no mishaps. I have several references and all my review are great. Feel free to reach out to me or check out my website. 

To start with I am a wholesaler in NW Florida and would suggest finding and dealing with one of those. You can pick up " off market" properties fairly cheaply and for cash. You might have a little bit of repairs to have to do but you will save thousands. 

Also, when it comes to property management,  I have a great one that really does property management!  

Send me a colleague request and we can talk more. I would be happy to help you out.

I also have lenders that will do sone pretty creative financing. You might would be well served to look into different means for acquiring the properties. 

Area is always important.beach access is important but beach front is very expensive.  Plenty of areas here that have the access without the cost.

Once again, love to hear from you.

Its easy to say "just buy it" and resell it. In actuality though this is not always an option. I have assigned many contracts where eveyone was happy and never made a purchase. Not everyone has 30-40-50 or 150k laying around to do business with. But its nice to know some do. You should get on my buyers list.

But to the point. You should always do a jv agreement if your co wholesaling. Always!. I've even thought about doing noncircumvent agreements now too giving me exclusivity to my buyer for a min of 6 months following the initial deal. After that so be it, sell on.

I don't allow the wholesale "partner" to add on to my assignment. We split 50/50 and that's just all there is to it. We make an agreement to assign at a certain fee or not, that simple. We both go on the HUD and its over. No stacking of assinment fees here.

never heard of a $5, $7, $10 rule. Maybe $15, $17, $20 would be mor accurate.

never heard of a $5, $7, $10 rule. Maybe $15, $17, $20 would be mor accurate.

If you have a "true" deal under contract, it doesn't matter if you have a list or not. Market it at the right price and you will not only assign it but you will have several buyers that are truley looking to buy. 

What's key is it has to be a true deal.

you would have to change who your target buyers are. But in your scenario, 180k selling at a 200 price you took the repair cost back out of it. A house in that price range will need much more than 10k in repairs I'm sure. That or you need to focus on retail buyers. The more buyers you eliminate the less likely you are to wholesale the deal.

Bottom line- the numbers are the numbers. You might need to ramp up the marketing and negotiate a little better.