All Forum Posts by: Paul Z.

I'm about to close a deal tomorrow that is very similar to the scenario you are dealing with @Derek Martin . Although I did not use a HUD contract since the back taxes were owned by a private entity. With that said we considered trying to close the deal without a Title Company or attorney involved. After much research it was better to let the title company and my attorney process and validate the transaction.

For your question above I don't believe that they will draft a HUD-1 for you. I may be wrong here but I've only seen them to be in the business of processing.

ACQUISITON SPECIALIST ROLE DESCRIPTION

Responsibilities:
1. Implement and manage direct marketing media
2. Effectively qualify incoming phone calls of prospective sellers as motivated or distressed
3. Set on-site property appointments with qualified sellers to build rapport and identify improvement costs
4. Prepare, present, and negotiate an offer contract on-site to sellers while maintaining strict buying and offer criteria
5. Must be able to manage time and customer relations highly effectively and productively.
6. Must be able to work harmoniously with other team members as an effective and seamless unit to complete projects on time and within budget

Goals:
1. Maintain a minimum or greater frequency of inbound unqualified calls
- Implement monthly marketing strategies effectively and appropriately
2. Maintain a minimum or greater frequency of qualified seller leads and closings
- Effectively implement our qualifying/closing process both on the phone and on-site
3. Represent quality, trust and integrity
- Constantly provide sincere service and honest intentions
4. Provide impeccable and flawless communication both verbally and through writing
- Effectively utilize our Customer Relations Management (CRM) tools
5. Meet monthly acquisition expectations
6. Exhibit a passion to learn, grow, and continually attain goals on a constant basis

This opportunity is meant for a very specific, performance driven type of individual that can and will take ACTION. You're state of mind, desire, faith, and commitment to success no matter what type of obstacle stands in the way is more important to us than your "experience." This opportunity is meant for someone that sees themselves as someone they are not before they actually are. It's for someone who is never satisfied and who thrives on challenge and opposition. This opportunity is meant for someone who WILL make their dreams a reality. Less talking, all doing...  

If you're someone who is looking for comfort and security, or someone that is ok with the norm, or someone who lets current circumstances stop you from making decisions, or someone who likes to be told where to be and at what time, and how much your worth, then you need not apply.

BUT if you want to work with a company that expects you to eventually leave and pursue you're own investment opportunities or personal business visions with the possibility of partnerships on future real estate investments then we want to hear from you. We will provide a place for you to actively pursue your dreams if you are willing to accept challenge and risk failure in return for self-fulfillment and personal happiness.

INSTRUCTIONS TO APPLY: 

Please email me a personal essay of why I should select you for an interview, your resume, as well as a minimum of 3 character references. Address the subject line in the email as: ACQUISITIONS SPECIALIST INQUIRY.

This position is also open to interns seeking internships related to business, entrepreneurship, marketing, and/or real estate subjects with compensation based on performance.

We will be starting interviews this week.

SERIOUS INQUIRIES ONLY!!!

Thank you!
Paul

I've got an opportunity in Stone Park, IL that has good numbers for either a Flip or a Hold Strategy. B+ area with super low crime and average schools. Excellent nearby retail centers and entertainment. Unit 1 is a 3/1 with avg market rent of $1150 and Unit 2 is a 2/1 with avg market rent of $900. There's about $35K in repairs to be made for Flip and less for a Hold. 

Based on initial analysis we're at a 28% COCR with a 21% profit margin for a Flip at a MAO of $82K. For a hold strategy we're at a 13% COCR with a 10% cap and monthly cashflow of $625 at a MAO of $82K. Assuming we get this property at something better than $82K the numbers will only get better.

I'm searching for a funding partner on this and I'm open to a multitude of deal structures weighing heavily in the partners favor in order to create an win-win for everybody. 

Want to know the address, ARV, and all the pertinent details along with complete analysis? Contact me and lets talk. My email and phone number is in my signature below.

Thanks! 

@Account Closed the argument of whether wholesaling is legal or not legal will always be something of discussion. Kind of like what came first, the chicken or the egg. As @Account Closed stated I've always believed as well that as long as you have a secured interest in the property (i.e. a signed purchase contract AND a Earnest Money Deposit) then it is completely assignable as all contracts are unless stated otherwise in the contract (A HUD 5.0 says you cannot which is why I never use one in my transactions). The earnest money is what makes it a "secured interest" and I try to do it for the least amount possible (I've done it for $10 and/or $0).

@Priscilla Z. This deal was definitely a great read. I'm going to add it to my toolbox should I ever be put in a situation like yours. Great work!

I plan on attending as always! 

@Larry Smet pretty sure your mentor stole Jays Potato chips slogan lol. But it's a good one nonetheless! 

@Raji Kaur congrats on your success! And @George Foster great work as always!

Thanks @Nicole Grant ! 

@J Scott totally understandable about the long distance. And what you're saying in regards to a referral fee or % of profits is exactly what I'm leaning towards with the hope I could shadow the project from start to finish. With that said do you or anyone reading this post have any lines on a builder/developer in my area? Any thoughts or direction would be appreciated on this one! Thanks 

I'm just about to finalize a purchase contract on a property in Yorkville, IL. It's in a quaint Olde Towne area with great schools and zero crime. People live here because of the homely feel and close knit community. There's easy access to major highways and retail. The city definitely has appeal and character. And best of all there's been a high amount of sales activity throughout the city. 

With that said, I received the lead on the property from a woman who is finalizing an estate for her parents who have both passed away. The property is on a large corner lot with beautiful colonial/victorian style homes throughout the subdivision. The land itself is historical but based on my research the property is not. 

I managed to negotiate the purchase price of the property at what I believe leaves many options (i.e. I got it for much less than the value of the land) that being a complete rehab of the existing property or perhaps a tear down and rebuild. For my business model it makes sense to wholesale this over to a Developer or a Flipper that has experience in this type of complexity. I'd actually like to be able to turn this over to someone like a developer and then watch from the sidelines how a spec build comes together since I have a serious interest in it. 

Who are my fellow developers here on BP? @J Scott I'd love to hear your insight or perhaps even your interest in a property like this. It just might fit your mold based on some of the spec build projects you've recently completed. 

If anyone could offer their advice or perhaps their interest it would be greatly appreciated. Offline if you contact me, I can fill you in on all of the details, provide pictures, analysis, etc. etc. Just let me know. 

Thanks! 

@Dylan Long and @Andrew Cordle I like your points here on this subject. With such a small spread between "as-is" and the "average price" I'd be very careful about what money is spent on repairs. With that said I think two words come to mind: "neighborhood norm." Specifically, what is the "neighborhood norm" for the $135K houses in the area. Then I would do whatever was needed to create that type of home character with the "LEAST" amount of money. Getting creative and imaginary would be a big part of it.