All Forum Posts by: Vonetta Booker

Hi, everyone—I’m relatively new at REI & I’m still learning about the ins & outs of various exit strategies. I’m interested in rehabbing & buy/holds (the latter especially for long term), and I’ve marketed via yellow letters, calls, networking, bandit signs, etc.

Can someone break down which exit strategies work best depending on a seller’s situation? There are so many that it gets a bit confusing. For example, in which cases would short sales, subject-tos, lease options, straight-cash offers, etc. work best? (Of course, if I’ve missed any feel free to add those, as well.)

This way, I can better know how to figure out which options to offer an interested seller. Thanks!

You can also try looking up the person's name/address on Anywho.com for a phone number; that's often hit or miss though, either there's no number or they're often disconnected/old. But it's worth a shot. Beyond that, your best bet is to send a yellow letter or doorknock.

Good to know Paul, thanks. ("Estimate" does sound a little more homeowner-y vs. investor-speak.)

Wow. Thanks for the replies, guys. I figured there had to be some kind of catch, lol. I'll keep screening contractors, if is like that w/ HD!

I'm in the process of screening/getting estimates from contractors for my first rehab (a fix & flip). While at Home Depot today gathering a list of materials, I thought of the fact that it also provides services for various rehab areas (using local contractors)--and I'm wondering if I should explore that route.

The pros: Everything's done via HD, I'm familiar with it & they've vetted their subcontractors/are responsible for their performance. Cons: Each contractor will most likely charge a fee to come out & give their estimate, which can add up. And I'm thinking the overall price will be marked way up.

Has anyone gone the HD route for their entire rehab? If so, what was your experience? Is it worth it, or should I go with a GC?

I took one of their courses when I first started. They are legit & have many good resources--but yes, they are expensive. Not for nothing, I wish I'd come across BP first, lol. ;-)

Sooo true--this is exactly why I got my license. I also wanted to immerse myself in real estate & gain as much knowledge as possible (the retail side, as well)--I feel this can only help me long term as an REI. I do agree w/ some others, though--dues can become expensive so make sure you make a return on your RE deals as much as possible.

Looking forward to it, I'm there!

@Braden C. How much was the fee you paid to your broker before you opened your own brokerage? Since I’m just now in the process of getting my license, I’ve been used to the non-licensed process of simply keeping one’s wholesale fee. I’m concerned that if I’ve been marketing on my own, I’ll be required to pay the brokerage a commission even still. Is that the way it usually works, or is that negotiable?

Thanks for everyone's replies!

Just curious, does anyone hold a RE salesperson license for the benefits it provides--but also also does wholesale deals with private sellers or even via the MLS? Has it ever been a problem, or no? How do you phrase the disclosure part? And how does your broker feel about possible WS deals done on your own that you don't list?