All Forum Posts by: Ryan W.

@Steven Leigh, I appreciate the response.

Of the local wholesalers that I've been talking to, it sounds like the majority of them just have set levels of reno costs in $5,000 increments i.e. $10k, 15k, 20k, and so on. As a lot of them are former flippers, they seem to know that their reputation as wholesalers depend on their estimates, so they, in their own words, "go above and beyond". That, of course, is open to interpretation.

Thanks. Like I said, I'm still new at this, hence why I asked this question. I know I have much more to learn, but yes, I am very aware that ARV and comps are pretty much the same.

Still a newbie here!

In general, how much information does a wholesaler know about a property? Do they know what the ARV is, the cost of repairs, local comps, or any of mix these or other important numbers?

Thanks!

I'm working with a group that may be interested in that market. Would love some more details.

@Grace Porritt that's an interesting strategy. If the current renters do buy their units, then where does the value of the building reside from? For example, if a building is made up of 6 units, and all of the tenants purchase their spaces, what do you as the building owner have to sell? The parking lot and the building's exoskeleton?

Or are you saying to buy the building and then individually sell each of the units to it's respective current tenant? Therefore, once all of the units have been sold, you are no longer associated with the property? Hopefully that makes sense...

Very interesting. It does make a lot of sense now. This reminds me of the new investment laws for startups, and how very soon anyone can invest in startups. 

Oh okay, that makes a lot more sense now. Thank you for the clarification!

I guess I am confused. The one listing states "This investment offering provides accredited investors the opportunity to acquire..." I understand that as it's only being offered to individuals who meet those requirements.

I've been looking at properties all morning and I've found a few that are only being offered to accredited investors. I'm curious what the reasoning is behind offering a property to only accredited investors, versus having it be offered to everyone?

@Grace Porritt I've been thinking a lot about doing just that. I'm going to be talking to my neighbor who is selling a building that he owns. It's a 15k sq ft building with six current tenants but I think it has one or two vacant spaces. Of course, it's a massive building which means a pretty expensive asking price.

@Walter Key My why is because I want to be able to give my parents the life that they deserve, and then after that is complete, to prove all the people that told me I wouldn't be rich wrong.

My overarching goal is to build an empire. I want to be in the BBC - Billionaire Boys' Club! And, I really want to build something that makes a difference in the world.