All Forum Posts by: Kim Handelman

Hey Everyone,

I am a newbie wholesaler (only one deal under my belt) and I have a lead on an $800K (wholesale price) property. How do I come up with a down payment? Any creative strategies to help me get this under contract?

Hey Gang,

I just pulled in a favor from a realtor who I am probably on the verge if irritating. She sent me MLS comps for a condo I'm going to flip or wholesale and I can't find the sale date on any of the listings. I can't believe that data wouldn't be included. Can anyone tell me where it is? Thanks, trying to firm up an offer today!

Hey Gang,

I just pulled in a favor from a realtor who I am probably on the verge if irritating. She sent me MLS comps for a condo I'm wholesaling and I can't find the sale date on any of the listings. I can't believe that data wouldn't be included. Can anyone tell me where it is?

Thanks, 

I never thought of paying a realtor. I have called in so many favors, I don't dare ask again. This would give them motivation to help without feeling used.

Hey Everyone,

I got a call on a condo back in October and comps estimated the ARV as $270K to $280K. It was on the market for $227K (terribly outdated) and the owner said he'd get back to me if it hadn't sold by the time his broker agreement expired. He called yesterday and said he's ready to talk. Since october 3 other units have sold in the $220K to $230K range. How do I find out what shape the units that have just sold were in w/o MLS access? No pictures on realtor.com zillow etc. What would you put the ARV at not knowing the shape the new units were in? THANKS!

Are any of you Mac based? I started on Podio and really liked it but my husband's business and our entire personal life is managed in Daylite software. Anyone use it? Trying to figure out if there's a way to manage my RE business in Daylite.

Hey Everyone,

I have a friend who is a flipper in Milwaukee who asked me to partner with her to help her find houses. How does a long distance wholesaling business work? She would be boots on the ground. How do we split profits if she is doing some of the work? Does anyone have experience with building a relationship with the seller via phone and then handing that relationship over to someone else to go look at the house? For me I build trust and so when I go see the property they trust me so feels awkward to have someone else show up.

@Account Closed I think I'm just insecure on my numbers because I'm new. I'm afraid I'm missing something. I have 5% for capitol improvements and 5% for repairs and I put in $40,000 for reno because the roof is 15 years old and I'm sure something else will come up - like a tenant moving out. I will be looking for a partner in this deal and don't want to begin showing a spreadsheet with holes in it. 

Hi All,

I have a lead on a deal. 3 family Gross rent $3325 Taxes $7,000. Building is old (built 1900) but mechanicals are fairly new (last 4 years) roof is 15 years old. units are horribly dated and will need rehab when tenants move out but 2 of the tenants have been there for over 15 years and don't ever plan on moving. Do I put in a reno budget for updating? It'll kill my cashflow but I won't need it for a while because tenants are in place.

Hi All, I am a fairly newbie. I've got one wholesale deal under my belt. I'm on my 4th DM campaign and I'm beginning to see a pattern. I target absentee owners. As I've crunched the numbers on possible deals I've realized that it makes more sense for a lot of my sellers to rent out their place. I live in an area where the market is still low (CT hasn't recovered as nicely as the rest of the country) but in my specific area rentals are hard to come by. I have on guy with a 3,000 sq ft house. He owns it free and clear but there is so much rehab to bring it up to the standards of others on the market he'd have to sell it at almost half what he bought it for. But in our area he could rent it for $2,300 a month and even though it's outdated, it would rent very easily.

Do any of you wholesalers offer property management to your sellers as second exit strategy?