All Forum Posts by: Marcus Kennedy

Awesome thread! Great stories from everyone!

@Alex Applebee I can't wait to see the after pictures as well! You sound like you really know what you're doing and I hope you knock it out of the park on your third flip!

How did you come across this house? Was it a probate mailing campaign you had or some other way?

Thanks everyone! Well I guess I will go ahead and started advertising it!

Is craigslist you guys best way to generate interest and get tenants?

Hey guys,

I've done a little house hacking and purchased a soon to be rental property that I've been living in for about a year now. I will be moving out officially around the end of August and then renting it out.

When should I start advertising it for rental prospects if occupancy isn't until beginning of September?

@Wendell De Guzman Thanks for continuing to give us a peak into your great business! I assure you there are many people who look forward to your weekly activities that may not speak up but absolutely are learning and gaining the confidence to get started! Keep up the good work!

@Robert ObniskiNice! You did a really good job on both properties and looking forward to your next! Keep it rolling!

Well guys I said I would update and today we closed on the home! This is my first wholesale deal and I made a $10,000 fee!! I'm very happy and relieved that this deal went through as earlier on it didnt seem as if this was going anywhere! I'm hoping to find the next one now! Thanks Biggerpockets!

@Kevin C. Good luck! Keep us updated on this thread and let us know your progress!

@Christopher Devine Welcome! Always good to see other Birminghamians(if that's a word)  joining  in on biggerpockets! Let me know if I can help you in any way!

@Filipe Matos

 Your gross profit is how much you make before counting your expenses. So if you bought a home for $100,000 and then sold for $200,000 then your gross profit would be $100,000. Once you subtract your expenses i.e. cost of rehab($30,000), real estate fees($12,000), holding costs($5,000),closing costs($5,000) and whatever other costs you then have your net profit of...in this example $48,000. Hope that helps!

@Wendell De Guzman Thanks for these awesome updates! I'm pretty sure you have inspired many people on biggerpockets to either ramp up their business or to get out there and get started! Your time,effort, and detailing of your business is much appreciated!