All Forum Posts by: Terrell Sapp

Thank you guys for your replies. My realtor actually called that realtor (the brother) because we found out its NOT LISTED after he told me it was. He didn't give us a call back, pretty strange or just greedy. Still in all thanks guys!

i am wholesaling. as far as the repairs I'm going to do the walk through this friday. The numbers i don't agree with b/c i was told about the 70% rule (this will be my first deal). Not trying to be greedy, I want both myself and the end buyer to get a nice deal. By those numbers he can profit 24k, doesn't sound like a wholesale deal I'd imagine. 

Asking Price: 290k 

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Asking Price: 290k

ARV: $314k

Offer: $260k

Sell: $290k

That's a $30k split for fix ups and my profit and honestly I don't agree with those numbers.

Can someone give their opinion on this?

Hey Jon, I looked at the contracts and thankfully found one i was looking for with the clauses already involved. 

That helped, Thank You

I understand they're different contracts with different clauses. Me being a perfectionist I'm looking every which way to find the perfect contract between the seller and myself. I'm wholesaling so I will be assigning that contract to a buyer. 

Can anyone provide information regarding a great contract ? 

Hey @Jean Bolger, thanks for the recommendations. I see you manage duplexes and triplexes, am I better off starting with the smaller homes you'd say? I plan on having a property manager maintain it

Congratulations on achievement! To make sure I understand, when you say "cash on cash yields aren't as high" do you mean cash flow? Whats your take on MFR on 5+ units?

"what is your involvement with the home?' thank u

it was more of a shotgun approach with the direct mail. In your opinion, what is the best way to find absentee owners, people in pre-foreclosure, probate, bankruptcy etc?

I got a VM from a realtor who is representing his brother (the home owner) who received a letter one of my yellow letters. This will be my FIRST interaction with someone replying to my letters and the realtor kind of throws me off. 

Are there any questions I should ask besides inquiring if the property is listed ?