All Forum Posts by: William Johnson

No you do not have to visit it but if you want to maximize the chances that the listing agent to take you serious and present the offer properly you normally have to visit. 

What are your opinions about making verbal or written offers on MLS properties. Do you believe that we should do a minimum number of written offers each week even if there is no indication from having a phone conversation with the agent that the written offer will be accepted and, also taking into account that I would have to go and visit these five properties in order to have credibility with the agent who is selling the property so that he/she will present my written offer in a serious manner.

Up to this point I am only doing verbal offers on the phone find out whether they are negotiable for the price that I'm willing to pay and if they are not then I am not going to visit the house as I consider it to be a waste of time. It is a Catch-22 though because in the past I would at least do five written offers which meant that I would have to visit five properties even if I wasn't sure that they were negotiable. 

So I'm just wanting to have the opinions of the members of this forum about this subject.

I do understand that there are many who do not believe that the MLS is a good place to do wholesaling so I would prefer not to have that debate on this thread because although I do agree that the MLS may not be the ideal place for wholesaling I do know from experience that they exist in large numbers on the MLS, it is just a question of uncovering them.

 You call people who invest already and you volunteer to work for them for free.  It is essentially an unpaid internship.  You find people who invest already by networking and looking for marketing material by people who already buy houses.

I would recommend that you find some signs that are put up in your area and offer to wholesale exclusively to them for a year in return that they teach you how to find and bring deals to them.  That is what I did and it was the best thing I have ever done.

Sorry I typed the above reply fast, 10 to 15 percent is a little much actually. What I meant to say is that take enough off of the ARV so that buyers will not be able to call your evaluation into question.

If your buyers are planning fix the house up to the what people are willing to pay top dollar for in your area than take the comparables of houses that are renovated to that standard and take off 10 to 15 percent (just to make sure that it will be priced better than the competition after renovations are completed) to arrive at your ARV.

Given the limited amount of information I have I can't see myself paying more than 18,000 for this.

What an amazing site! Thank you to all for such a warm welcome! I think my girlfriend is going to be jealous of Bigger Pockets :)

Thank you Brandon,

There is so much on this site that it is great to have some articles to start with. 

I will definitely be jumping and offering advice whenever I feel as though I have enough experience in the subject matter to offer my 2 cents.