All Forum Posts by: Samantha M.

After 2 years of tax returns, shouldn't you be fine?

Yes and ? You need to know how to estimate repairs to get the numbers correct for a wholesale deal ARV and repairs are the 2 most important factors...

I feel bad for you guys, this is a common horror story I hear. I never have run into anything like this or daisy chained wholesale deals.

How are you going to estimate the repairs without stepping foot in the house? Think about that for a second, that doesn't make any sense. You need to start talking to contractors and getting a general idea for what the $ psf is for various items that routinely need to be fixed. For example $ psf paint, $ psf carpet, $psf hardwood, $psf new roof shingles, $psf new decking and roof shingles, $psf foundation etc.

You guys don't do 3x rent down there to qualify? Anyways I had a colleague use this service once or twice before, it seemed to do a decent job. I think he did the higher fee for the search option.

@Jimmy C. You send out follow up with your CRM, what is that like am email?

Honestly your profit should not matter as long as the end numbers truly are where the end investor needs them at. I have bought several properties from wholesalers where the assignment fee is over 20k. I don't care, good for them! I am buying and holding these properties and they brought me the deals at 72% ARV less repairs, and that is fantastic in this market right now.

If you are getting beat up on your price, find new buyers. It shouldn't matter if your making $2,000 or $25,000

Why do you need to double close? Why not just assign the contract?

@Aaron Mazzrillo Great points, the only thing that didn't make sense to me was this comment.

"B. You think that if you wholesale, all the risk will pass to your buyer and you can just get checks for tying up properties..."

If you wholesale correctly, there really is no risk. Get an option period to find a buyer, and then contractually limit your liability. You can make it such that the only remedy a seller has for non performance is earnest money, no specific performance. Just be warned, if you are going to do that, be ready to put up more EM to sweeten the deal.

@John Chapman Of course at 80% ARV here in Dallas for flips most people are going to pass. I am talking about buy and hold land lords, lots of people are salivating for 75% ARV, and many of the biggest wholesalers in town are selling the rentals at 80% ARV and the contracts dont last more than 48 hours. I would throw out some names as examples, but I don't want to go triggering the name alerts. PM me if you would like some names.

One of my duaghters is working on her real estate license. While working on it she is also setting up her business plan. She wants to primarily specialize in listing properties, and one source for these leads is online.

Does anyone have any suggestions for keywords to use that potential sellers will use in google for SEO/PPC that would make good potential leads for a listing agent?

Thanks