All Forum Posts by: Nick C.

Sub 2 deals don't benefit the seller. The loan stays in their name, so does the risk- the buyer is the only party that benefits.

If the seller wants to sell quick, the option that benefits them the most would be a cash offer. 

Wall Street was losing way before the “housing slump”. They’ll keep losing for as long as investors are willing to keep flushing more money down the toilet. 

Starting next week I'm selling a course that teaches you how to NOT make money. Think about it - everyone else is trying to make money. There's literally NO competition for trying to NOT make money. Don't waste time doing what your competitors are doing, sign up for my course and I 100% guarantee you won't make a dime! 

Haha @Jerryll Noorden is that for real?? He actually says everyone is competing for off market leads, so instead you should compete for on market leads... wow that is some true guru logic right there...

Good wholesalers are able to locate off market deals. Emailing out properties that are already listed is the quickest way to get investors to stop opening your emails. 

You mentioned the BRRR method but you're not going to be able to refinance and get your money back.

As a general rule buying at retail is a bad investment. If you're willing to pay retail you might as well buy something that's already been rehabbed. 

Don't buy in the cheapest neighborhoods, those returns are much better on paper than real life. 

If you buy a condo watch out for the HOA fees and their bylaws.

Try seminole heights, central Pinellas county, or look up in Pasco, you'll get a much better house and neighborhood for that price range. 

I hope there's more to it than how to lowball sellers on listed properties. That's some serious bottom feeder wholesaling right there. A good wholesaler finds off market deals. 

Hm. Well a good deal is generally 70% of ARV less repairs.

A bad deal is anything anything you lose money on. 

An ugly deal is something you lose more than money, you lose your will to keep going; maybe you get sued, maybe you buy a house at an auction with a mortgage on it, maybe you skip getting insurance to save money and the place burns down, etc. 

If you've estimated your repair costs correctly and have no overages you're at 97% LTV. This isn't including any closing costs.

You're going to be lucky to get 75% of the ARV if you refinance, so you'll have to bring a significant amount of money to the table to do this. As a fix and flip you have literally no equity to do this and will lose a ton of money.

This is a really, really bad deal. I'm begging you not to do this deal.