All Forum Posts by: Nick C.

If you're talking about offering to a distressed seller, your best bet is to make the offer in person. If that's not feasible do it on the phone. I would think the worst way to make an offer is through email. You won't be able to judge the seller's response and deal with any potential objections. More than likely they just won't email you back. 

If you and the seller can agree on the price and terms put it in writing and get it signed asap. 

@Daniel Dexter send me a PM.

I wonder who would regulate how many assignments you do? Sounds odd. 

Either way you could double close or close on the property then sell it. 

The best way to build a buyer's list is to have a deal to sell. Build it organically. I'd rather have 10 solid buyers than 100's of tire kickers. For the most part, other wholesalers claiming to be buyers are going to reply to your generic ads about deals. I've always found that the true buyers respond when you have an actual deal to sell. 

It is very common, just remember wholesalers work on a spread, so every dollar you come down on price is a dollar they lose. This is the biggest difference than houses on the MLS. Lots of those are hand me downs or owned free and clear. In those situations it doesn't sting as bad taking a few grand less...

I would try your 2nd option, although Try to figure it out now. No need to wait until you close. 

If that doesn't work go to your first option. 

Did you mention who is paying for repairs? 

Try Nick Kolev, he is here on BP. If you can't find him PM me for his contact info. 

Yikes, $3000/month in rent and purchase price is $1.1M? And it needs all that work, what is that unleveraged, like a 2 cap before taxes, insurance, maintenance, etc?

I would look at this as more of a residence and not an investment, the numbers are pretty bad. I guess I'm biased though, here in Florida you could buy 11 terrific SFH for that price. Unless you're banking on future appreciation?

@Jake Knight I would say no they do not succeed that way. The majority realize it's extremely difficult regurgitating bad deals to investors who have already passed on them at a lower price point. Then one of 2 things happen- most give up and blame the guru who "taught" that ridiculous strategy (rightfully so) and keep their day job. And a very select few learn from it and put in the time and money it takes to source their own deals.