All Forum Posts by: Stephen Rogers

yea, unless you are doing anything structural all you have to worry about is the mechanical permits then.

Hi James, 

Because Memphis code is not the easiest to work with most of the time, You will find that the contractor typically pulls the permit and should be there when the inspection happens so they can address any small concerns immediately. At least that is the way I had my contractors lined up when I worked for a PM company. 

Is this your first rehab? 

Hello All,

My RE partner started a Pest Control and Wildlife Removal company a few years ago in Memphis. I just started helping him with advertising and selling to investment companies and Rental companies in the Memphis Metro area, so if anyone needs a second opinion or just has a general question about oest control feel free to contact me. Thanks for your time!

absolutely @Jay Hinrichs, and that's why I'm getting my license and for this second deal I just asked the investor if he would be interested in buying it straight from the homeowner and giving me a small fee for bringing the deal to him. Thank you for the advice! 

 I figured that was a possibility! 

Off topic but I'm from DE originally and would kill for a Maryland crab cake if you have a way to get it to me hot from the kitchen lol!

 It's not that it's illegal, it's just that I want to be as versed as possible in real estate before I really hit it hard. I do have some cash buyers already that I've worked with and am just learning as much as possible now that I have some experience. 

I am taking online RE courses now because I want to be able to be completely legal in regards to wholesaling and I also want to further my RE career in general to become a buying/listing agent. That being said I have wholesaled one property(made the mistake of listening to a friend and didn't do any DD before starting the wholesaling process) and am waiting for another to close that I will get a finders fee on because I didn't want to wholesale the property without my license. 

The second deal was another friend of a friend situation and the homeowner called me because a different wholesaler in my market was really pressuring him to sign the contract (called 12x in one day, multiple texts and email). When he called me and told me all the info of the house and the offer from the other "buyer" I agreed to meet him at the house with the investor friend of mine who would could deal with the client directly and I could trust him with the deal without having to do any assignments. 

THIS is my question: When do most wholesales start advertising the property? The reason I ask is because when I met the homeowner I was doing some research on my phone in front of him and a YouTube video pops up on google because the wholesaler had already posted it without any signed assignment or contract from the homeowner. He was very upset and didn't know anything about the wholesaling process or what the other guy was doing with the property. 

I guess this is more of a rant than a question but is it seriously a wholesaling practice to advertise online a property before getting anything signed? That is the reason my investor was able to buy the house even though the offer was not that much more than what the wholesaler offered.

Vacant for 12 years will probably be a pricey rehab. Busted pipes and mechanicals will be shot. Make sure to get a accurate assessment of the numbers first. 

yes sir and that's what I want! I've been working since I was really young so I don't shy away from hard work and look forward to everything involved in real estate! thanks for the advice.