All Forum Posts by: Omar Bunch

I am looking at a 6 year old property that has an ARV of 230K. The BP Wholesale Calculator reflects a Sale Price of 139K. A buyer stands to make around 40K if they were to do a fix and flip. Disclosure, I have not been inside the home yet, but the outside has no issues. Therefore, I estimated a "lofty" number of 25K for internal repairs ( probably will need painting and "minor" fixes/updates. The owner currently owes approximately 206K on the mortgage. Let's say (hypothetically), they agreed to let the property go for 50K, what happens to the remainder of the mortgage?

Erik, thank you for your response. I will add you.

Greetings BP family. I am looking to build my Cash Buyers list and want to hear from you about what you want as far as properties. Educate me about the type, return, buy and hold, flip opportunities, etc. you want and I will locate potential deals to suit your specifications. I live near Fort Knox where there are great rental opportunities and fix and flip opportunities near the base as well as the counties surrounding the base. I travel the metro Louisville area often. Therefore, I can be an asset to someone looking to invest in the Fort Knox and Louisville metro area. My email address is [email protected] and my cell phone is (502) 653-5500. Thank you for taking the time to read this.

Fort Knox/Hardin County area!

What's going on, Austin? I'm active duty Army in KY. Welcome! I am fairly new to this myself, but I can say that you should get plugged in to your local Real Estate Investment Associations (REIA), if you haven't already. That is probably the best place to meet key people and build relationships. There is a wealth of "free" knowledge and mentorship that can come out of those. Get to as many free and low cost networking events as possible. Lastly, for the sale of being too long with this response/welcome, educate yourself through various resources about what you want to do in RE, then work your tail off to make it happen. Feel free to hit me up anytime.

Thank you for the clarification, Michael. As usual, your articles are impactful.

I have been driving for dollars and sending mailers to leads. I know something great is on the horizon for me. So what do I do once I get the lead to agree to a meeting at their house? What should the framework of that meeting look like? If the goal is to wholesale, do I need to arrange for a GC to look at the property so I get a good gauge of repair costs? All advice is welcome.

I share a very similar situation. I am finding that Driving for Dollars is a great way to start. This gets you out in the community and actually causes you to start putting eyes on potential properties. Also, don't be afraid to knock on the doors of some of the distressed properties. There is so much that could be shared but to keep from overwhelming you, the last recommendation I will offer is to see if there is a friend that can go out with you. It makes it fun and less intimidating.

@Daniel Kong, thanks and I'm on it. I've been hitting Meetups and I have also scheduled time to sit down with a few Wholesalers to pick their brains.

@Lydia T.,you rock! Thanks, again.