All Forum Posts by: Pete Perez

@Branton B.

I recommend joining the Seattle Investor's club. They post deals in their group page all the time. Just another way to potentially find deals. 

Best of luck,

Pete 

@Damarius Gilbert

Short Answer: No. 

Its also not always cheap which is what a lot of people are led to believe. To be a good wholesaler you need:

1. Great marketing skills
2. Phone skills (negotiation)
3. Understand the rehab process and to estimate what it'll cost
4. Good people skills (if you are going to meet them in person)
5. Understand how contracts work (if you are assigning)
6. Have access to cash to close on a property if you can't assign it (This is the ethical question about wholesaling and I think if you make a cash offer you should have some sort of access to cash- HML, PML, etc).

Its not easy, but there are plenty of people who do it successfully. I am currently failing at marketing to properties to flip, so I am already messing up the 1 of the key things to know lol. I am learning as I go though. 

 Wow didn't expect The Man, The Myth, and The Legend to comment on this. After looking around online, and at other forum posts I agree that is is too high. The quote was materials and labor. All retail prices (Lowe's and Home Depot). I am looking into the wholesale places nearby, but no dice quite yet. 

@Matt Gragg

You da man! Gonna PM you shortly.

@Mike Wood @Bob Okenwa @Stephen Haynes

Thanks for the feedback! This has been a big help!

@Bob Okenwa

He line item estimated it for me. I asked for that so I could see that break down of man hours.

@Carin Moore

You can always assign a contract unless it says otherwise. This is coming from a local attorney I talked to. You can double close, or assign. If you double close you need to have the funds available. You can get pre approved through veristone, or any of the other hard money lenders in our area. 

Hi Everyone,

Quick question: Does $3,560 seem reasonable? Was talking to a GC and he quoted me that price at around 50 man hours. I don't think its unreasonable, but just curious what BP thought.

Scope of work: 

• Install new carpet ~260 sq. ft
• Paint walls and molding
• Install new ceiling fan
• Install baseboard heater 
• Install new closet doors and bedroom door

Thanks!

Pete

You will have a hard time getting people to share good copy with you. Marketers don't like sharing that much intel. 

Hi BP,

I was curious what local investors think of the High Earner's Income Tax that Seattle is talking about currently? How do you think it would impact your business? I am not clear on the details of the tax either. I keep reading different percentages taxing different income sources. 

Thanks Everyone!