All Forum Posts by: Shannon Webb

@Jeff Copeland

 that is exactly what i am talking about! Thank you so much!

@Anthony Aguillard

 Thank you

@Steve Vaughan

 Thanks for replying!

I would definitely look into doing that, I I had enough experience to get a hard money lender behind me. But as of now, I'm taking this wholesaling route to get my feet wet, and learn the ropes!

Hi guys!

Ill get straight to it. I totally understand the 70% -(repairs) model, but I would love to know if there are certain repairs you would stray from, if a property needed it? The reason why I've asked is because I have talked to an investor of mine, who expressed to me that he wants properties that are closer to move in ready... as if too much rehab, is a deterrent for him. 

I have another investor who says they are looking for properties that fall along the 60% as far as the deal is concerned, and so I'm guessing this means he isn't looking to do any major rehab either.

I have been driving for houses down here and have found some really messed up ones in pretty okay neighborhoods, but have passed them by because they seem to need so much work.

So I wonder, How much work is too much work for an investor? What type of property would be ideal for you guys? Or is the 70%-repairs model all that matter?

thank you in advanced!

Your newest Wholesaler, Shannon Webb

Good morning guys!

Hope all is well! In a couple of hours, I will taking a walk through my first property, and really have a two part question:

1. What kind of repairs would be considered red flags for wholesaling properties?

2. What all should I bring with me?

I have my contractor coming with me, and we will be videoing the walk through(s), I just want to be as prepared and as thorough as possible. Experience is the best teacher, but if I can avoid wasting time by asking questions, I'm all for it!

Thanks so much in advanced!

Your super excited newest wholesaler,

Shannon Webb

Thank you guys!!! Means a lot!

@Josh Caldwell

thank you for responding! It seems like to me, and from many investors on my list that price B has to be significantly higher than price A to be a deal? Is this always the case. Even when a house is close to move in ready?

@Darrin Carey

thank you for replying! There is both a taxed "assessed value" field as well as a "value" field.... I'm asking if the value field is closely related to, or if it directly corresponds to the ARV?

Okay guys, your newest wholesaler has another question:

I am currently researching some the the vacant properties around my area and I keep writing down this note about the "value" of the house. What is this?

Is this the actual ARV, or is this just some number drummed up by an appraiser at the time of their actual appraisal?

Is this useful to me in any way? I'm seeing houses being sold and bought above and below this number, so what is this "value" field on the paperwork telling me?

Thank you so much in advanced! You guys are such a big help!

Thanks everyone for your input! 

What I am gathering that this main thing that needs to be evaluated is the seller's deal. If it is truly an amazing deal, the investors will come flocking! If I have a solid buyer under contract, I can get transitional funding to fund the deal. If I have transitional funding, then I can close the deal with out having the buyer or seller aware of my personal margin (even when I am not taking advantage) which makes it so that those on both ends are forever happy with the deal they closed with. I will also look into the other options as well!

@J. Martin

I will be attending school in May for construction management, which I believe will propel my wholesaling as well as REI in general to the next level! Thank you for all of the advice. I will definitely keep you guys posted!