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All Forum Posts by: Pratik P.

Pratik P. has started 25 posts and replied 789 times.

Post: Wholesale Question!!!

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

If it's in a good rental area,  you could subject 2 it,  make the repairs and rent it out!  

Post: Wholesaling

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

Now would the offer that the buyer makes include the full mortgage balance? For example if there is a 30k mortgage on the property and we want the seller to pocket 10k. Do we offer 40k with the assumption that the title company uses 30k to pay off the mortgage?

Post: Wholesaleing Partner

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

Getting buyers and a lawyer isn't difficult.  Finding deals is the tough part.  So if you're able to find good deals,  you should just work it yourself and get 100%. 

Post: How to start marketing for properties to wholesale

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

Tim and others have said it well.  Start marketing for properties right away.  You don't need a giant buyers list.  In fact,  you only need a few buyers that buy ANY good deal.  These are the big players who do many flips a year.  Finding buyers is much easier for a good deal than finding the deal itself.  

Besides,  You should be talking to people and networking anyway.  You'll come across buyers that way as well. 

Post: What to do with money from first deal???

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

This is what I would do...I would try to take that cash, pay the tax (I assume it counts as income tax), and use the rest to start a wholesaling business. Hire people to do the grunt work like mailings, marketing, taking calls, calculating MAO values for motivated leads. If you scale it well, you'll be the go-to person for many flippers in your area. You will be the deal bringer!....But that's just what I would do :]

Post: Duplexes in Midtown Sacramento

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

The only way I see midtown as a good investment at this point is if you find a distressed property and buy it on a discount to fix up and rent yourself. Like others have said, the current asking prices are crazy high for the income they bring. I'm sure you can find better ROI in the surrounding areas!

Post: 4 months in, 2 flips down with a 9-5 and 3 kids! - With pictures!

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

Love the words of wisdom! Congratulations! 

Post: Buy rental property or wholesale it ?

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

Wait,  is the cash flow $1650 or gross income $1650?  If that's the actual cash flow,  I'd say you're sitting on a golden opportunity! 

Post: Seattle, Bellevue, Renton

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

Direct mail all the way!  

Post: My 4th deal and highest assignment. $4k

Pratik P.Posted
  • Flipper/Rehabber
  • Sacramento, CA
  • Posts 807
  • Votes 815

You gotta tell us about the deal man! 

How'd you find it? 

How did you negotiate? 

What are the numbers?