All Forum Posts by: Pratik P.

LOL.  As kyle suggested,  tell him to give you a call when he's serious and ready to close within a week.  

The value of the property after repairs is usually estimated by looking at recently sold homes that are similar in Sq ft and bed/bath.  Other factors are looked as well such as age of the property,  the quality of the upgrades you intend to put in. 

The price on a home selling as is would be ARV minus cost to do repairs/renovation. Of course you'll need to subtract your profit and other costs from that as well.

Hope that helps! 

Like Jonathan suggested,  they're aren't any legal issues you're going to have as an end buyer.  You're simply buying a property.  

As a wholesaler myself, I would suggest that you treat a wholesale deal just like any other. Use the wholesaler's numbers and basic info to determine if it's something you'd be interested in. Then do your own analysis on the property to determine what you think the ARV, rehab costs, holding costs, etc will be.

I wouldn't worry about what the wholesaler is making.  If the numbers work and its a good deal for you,  then that should be enough for you to buy the property. Once you find a good wholesaler,  try to build a good relationship with them and they will bring you deals first. 

Hope that helps! 

Congratulations!  Let us know what the numbers are!  I'm sure we'd all love to know :) 

I would pick a title company near you and stick with them for all your deals.  Build a solid relationship and they will make you a priority. 

Take a lot of photos for your buyers, so they don't need to walk it just to see if they are interested. 

Good luck!  Let us know how it goes and the numbers!

That's awesome!  What are the numbers? 

Purchase price,  loan amount,  total down,  expected rent and expenses? 

You're right! Some are investor friendly and will work with you to make a deal where everyone wins. Others will act like you're trying to grab the house and run away with it.  

I recently had an unpleasant experience with a seller who was also the agent. She insisted that her property was worth much more than my estimated ARV because the tax assessment said so. That made it clear to me that there are many agents that don't have a clue what investors are looking for and how they operate. Many others, like the ones I've met on BP are very friendly, knowledgeable and investor friendly.

You'll just have to call these agents and ask if they're willing to work with investors and assignments. 

In my opinion, you're wasting your time with the MLS. There are already a thousand eyes on those properties and any "good deal" will be instantly bought up by a cash buyer or bid up too high. You can't simply take an MLS property, contract it, and sell it for 5k more. As a wholesaler, you have to find off Market deals. That's basically how we add value to the whole real estate thing. We find good deals for investors. Hope I've helped!

Jerry,  I think you misunderstood the question.  He's asking about how to start wholesaling. 

The first thing you're going to need is commitment,  patience,  and persistence!  It can be very hard to get started and get your first deal,  so stick through it. 

You'll need start up cash for office supplies like printer,  paper,  etc.  Get a Google voice account which is free.  A tool I use is intelius, which is a website where you can skip trace people of you have a vacant property.