All Forum Posts by: Vivian Hernandez
Vivian Hernandez has started 14 posts and replied 37 times.
Post: How can you tell if a turn key is not legit?
- Bridgeport, CT
- Posts 39
- Votes 1
What are the red flags?
Post: Getting started - Form a Inc vs LLC ?
- Bridgeport, CT
- Posts 39
- Votes 1
Good to know.. thanks for posting
Post: Are there any down sides to turn key investments?
- Bridgeport, CT
- Posts 39
- Votes 1
Thank you so much!!! l will do that...need to get out of rat race...hour and half traffic driving me nuts!!!
Post: RE Agent said Wholesale term not used
- Bridgeport, CT
- Posts 39
- Votes 1
Originally posted by @Jacqueline Carrington:
Originally posted by @Vivian Hernandez:
Originally posted by @Jeff B.:
Why are you discussing this with her at all?
Exactly..being newbie...l did wonder...but then how do l make the offers?
If you are wholesaling to property owners with unlisted properties, then you would make an offer directly to the owner and have your own contracts.
So true and l will ...this just came up..thank you for your reply
Post: RE Agent said Wholesale term not used
- Bridgeport, CT
- Posts 39
- Votes 1
Originally posted by @Brent Coombs:
@Vivian Hernandez, to misquote Shakespeare: "a thorn by any other name would still make you bleed".
Your Realtor not recognizing the word "wholesale" should have no bearing on whether you move on or not. Question is: do YOU understand wholesaling?
If you have contracted to buy a property at the highest price that your Realtor thinks is available on the market, how will you now sell it at a profit?...
Thank you Brent...she provided a listing with comps that shows a property listed at $115 but could sell 240k ARV...repairs could be 65 with closing and REagent fees being about 20k ..but the repairs could be less...my mistake was being too open...l should have put in offer ...yes l am newbie...just being honest
Post: Co-wholesale, such a thing?
- Bridgeport, CT
- Posts 39
- Votes 1
Yes doing that also...thank you so much!!
Post: Co-wholesale, such a thing?
- Bridgeport, CT
- Posts 39
- Votes 1
you are awesome!! Thank you
Post: Co-wholesale, such a thing?
- Bridgeport, CT
- Posts 39
- Votes 1
Originally posted by @John Horner:
Originally posted by @Vivian Hernandez:
Should l co wholesale to get started? I need to get this started already
Sure you can, the question is which part of the value are you going to bring?
I see so many crappy wholesales trying to take other peoples wholesales and marking them up without any contract to try to make a quick buck. And usually they are overpriced already. We have done co-wholesales where we have the deal and we partner with a wholesaler with the right buyers and split the profit 50/50 with them.
If you have a deal try to approach the best wholesaler in your market. They will know quickly if your deal is really a deal. If they have a buyer it's an easy payday for them and all you have to do is pass off the lead.
Obviously there are issues with legalities with the Division or RE if you are not licensed, but that's another issue.
Thank you so much for your help!!
Post: Co-wholesale, such a thing?
- Bridgeport, CT
- Posts 39
- Votes 1
Originally posted by @Linval T.:
Vivian - Welcome to the vibrant BP community.
Yes, you can....here is proof in a response to a similar question.
Originally posted by @James Green:
@Bruce McCray you can cowholesale. You have the contract, another wholesaler has the buyer and the 2 shall meet for 50/50 split (with a signed agreement). I have plenty of Washington DC & Northern VA buyer!
The original post is below where you can follow the responses to get additional tips.
Thank you so much!! Are there any sample contracts l can use?
Post: Co-wholesale, such a thing?
- Bridgeport, CT
- Posts 39
- Votes 1
Originally posted by @John Horner:
Originally posted by @Vivian Hernandez:
Should l co wholesale to get started? I need to get this started already
Sure you can, the question is which part of the value are you going to bring?
I see so many crappy wholesales trying to take other peoples wholesales and marking them up without any contract to try to make a quick buck. And usually they are overpriced already. We have done co-wholesales where we have the deal and we partner with a wholesaler with the right buyers and split the profit 50/50 with them.
If you have a deal try to approach the best wholesaler in your market. They will know quickly if your deal is really a deal. If they have a buyer it's an easy payday for them and all you have to do is pass off the lead.
Obviously there are issues with legalities with the Division or RE if you are not licensed, but that's another issue.
Now that is the part that worries me. Legalities ? I dont want to do anything illegal