All Forum Posts by: Tchaka Owen

 Hey William, good to see you on here again! The company I used is based out of Tamarac/Margate and I've used them for a number of properties (and now automobile) since 2011. PM or text me and I'll get you the info. They're solid.

Tchaka

@Adam Marx - welcome to the area! Two suggestions:

1. attend some of the meetups in the area. I admit, I've slacked a bit, but I'm starting to make it happen more often.

2. No to the breakeven. Small(er) profit is ok, but not breakeven. All it takes is one unforeseen thing to put you in the negative. Always keep a small buffer.

In which part of Brevard are you?

Tchaka

Hahahaha! Good one. :-D

This property was bought WITH $5,000 is much more accurate than "FOR $5000". The former implies you got in the deal with $5k in your pocket, the latter says the house cost $5k. 

My thought is that a lot of people are going to look to jump in, so if you're there already....great. If not, make your move stat. My mid-year, the best deals will be gone (if they aren't already). 

Hey Dave,

While there isn't one answer, here's what I feel should apply:

1. This differs. Many will lend a percentage (usually 80-90%) of purchase price and often 100% of renovation costs. Again, this isn't a rule.

2. That's your call. If you are marketing to real estate agents, then factor in their fee. Either you pay or you mention that they must tack their fees on top. If the latter, make sure there's enough room such that the end user will still want to buy the property.

3. This is also subjective. If you're providing a turnkey property, 10%-20% can work. If a rehab, no. Put yourself in the shoes of a rehabber of the specific property you want to wholesale. Considering ARV, repairs, closing costs and profit, what is the most you can pay? Then put your wholesaler hat back on......and subtract your fee. That's the price at which you sell.

Hope this helps.

 This is difficult to answer because of a lack of details. Are you asking what one would pay retail? Investor price? What's the condition of the home? Size? Etc. The only thing I can state for certain is that I'd likely pay a little less for it than others in the neighborhood because Catalina is the primary way in so you'll have more traffic at the intersection of Koloa than in other parts of the neighborhood. 

 I saw your home - you kept it in great shape! A buyer I was working with made an offer, then disappeared. Glad you got it sold. 

Hi Lauren,

The insurance company I have used in Florida for a number of projects in the past should be able to help you. If that doesn't work, I may have another contact. Ps - I'm right across the river from Cocoa. 

Tchaka