All Forum Posts by: Wendell De Guzman

You find a buyer willing to pay for a rehabbed house at a fair price not at a dirt cheap price. Landlords and buyers of turnkey properties love to buy properties that are already rehabbed. If you can buy these properties from motivated rehabbers at say 85% of market value and then find a turnkey buyer at 90% of market value, you make 5% of the sales price as your wholesale fee.

 Home building permits - is not necessarily a leading indicator. There are some parts of the country that building new houses is difficult because there are not many lots left. However, the total permit applications not just new build will be the more accurate leading indicator. 

If that's what you meant and it has been on the decline while inventory is low - yes, that does not make sense. One possible explanation is that builders can't get financing because of overly stringent underwriting. If that's the case, if inventory is low and yet builders are not building, it means price is going to be stable. It won't go up 20%  in one year but it will probably go up 5% in one year.

Congrats Josh! Awesome news indeed.

BP has grown so much in part because it WORKS. BP has grown my business so much in the past 2 years. My business has grown so much to the point of needing 9 FULL time employees! 

Thanks Biggerpockets!

I know 2 awesome real estate investors who are based in Cincinnati. Between the two of them, they have been involved in over 1,000 deals in 5 years. They are THAT good because I mentored them - when I was still based in Cincinnati :-)

As for myself, I don't have time to mentor people anymore. The only people I mentor are the employees of my real estate business.

 I love your answer Rick.

I would do the deal too, specially if I can get this house for $1 (since no one else is crazy enough to get it). If no one wants it because it's too risky, if the price is right, I will do it - using Other People's Muscle as Rick said.

The most successful real estate entrepreneurs I know are problem solvers. They solve real estate problems that other people don't want to deal with (again, at the right price).

 I totally AGREE with this. Real estate markets are local. 

Having said this, there could be big things that can affect all markets across the US - like a nationwide economic decline or sudden increase in interest rates or a change in real estate law (like what they did in the 80s about depreciation). Right now, I cannot see any of these affecting all RE markets nationwide.

So, before anyone here on BP subscribe to someone's bold predictions about the US real estate market, LEARN and study what's going on with your local real estate market and make decisions based on that. 

I can speak for Chicago.

1. Jobs are up

2. New foreclosure filings are down (this is a LEADING indicator)

3. Inventory is stabilizing

4. Sales is stabilizing 

Barring a nationwide economic meltdown or hyperinflation of the US Dollar, I believe the Chicago real estate market will go up +5% in 2017. It's not crazy like Denver or San Francisco but I like it that way. Here's a video I created that has the charts to support my prediction above.

Wow. @Will Barnard, I can feel your pain. I have my share of tenants from hell. I'm glad though that at least they are now out of the property and you can 'start over' on this deal. Since you got the house at a good price, I'm sure you'll still make money from it.

To the newbies out there: owning a rental property is NOT easy and don't let the gurus trick you into thinking this is easy. You got to do your homework and be diligent. And even then, bad tenants can slip through even the toughest screening process and so you got to have a Contingency Plan in case you get a bad tenant. 

Also, this is the reason you got to buy the property with some discount (or at good terms if you're buying it from a private seller). Buying a rental property at 100% of market value and relying on appreciation is NOT a good idea regardless what the market is doing or regardless of what some gurus want you to believe.

We have a JOB opening for a Sales Vice President to help lead our real estate wholesaling division. 

As the Sales VP of Wholesaling Division (otherwise known as Wholesale Rain Maker), you will not only learn real estate investing...you will be actually DOING it everyday. The $30,000/year is only the base salary but the real money in real estate wholesaling is in the PROFIT (six figure annual income is doable!). You will get a profit share and if you deliver against sales targets consistently, you will get even a share of my company  PCI (check out http://pcirei.com).

As our Wholesale Rain Maker, below are your exciting Job Responsibilities:

1. Talk to our 400+ real estate investor-buyers and persuade them to buy our wholesale deals that come from our acquisition team (we have 3 full time acquisition people so you will have plenty of wholesale deals to sell)

2. Analyze the deals coming from other wholesalers, identify the best ones to pitch to our buyers and negotiate with the wholesalers so we can maximize our co-wholesale fee

3. Work with our Virtual Marketing Assistant to get a list of buyers to cold-call, do deals with and add to our ever-growing investor-buyers database

4. Promote and make additional money from our financing programs for real estate investors (like Hard Money Loans and Business Line of Credit)

Why Join Me vs. Do It On Your Own?

Let me count the reasons why:

1. Real estate wholesaling is highly competitive and getting deals is harder now specially for newbie investors. Why try to compete by doing this on your own? 

2. We are backed by massive capital - enough capital to buy 60+ houses this year (ARV of $150K to $250K). Local banks and other financial institutions with real estate to sell are more willing to deal with cash buyers vs. wholesalers

3. As cash buyers, we can lock in deals in a few days, close on them and then wholetail or sell them to other investors. Again, ordinary wholesalers who have no cash can't compete with that. We also buy properties and rent to own them.

4. We already have buyers - if you're starting out, you don't have many buyers so it's more difficult to sell your deals. Why start things from scratch?

5. I've been doing this since 2003. Learn from my experience. Listen to my podcast here - http://Biggerpockets.com/show65

You Are The Right Candidate for This If You...

1. Have at least 2 years of sales experience, specially cold-calling and getting sales done over the phone. We need a Rainmaker and if you consider yourself one, please APPLY. The sales experience does not have to be in real estate.

2. Have a real estate license in the state of ILLINOIS; preferably a HUD certified agent/ broker

3. Are passionate about real estate investing

4. Are teachable, knows how to listen and knows how to follow instructions

5. Are a good communicator both verbally and in writing

6. Believe that hard work, being honest and making promises you can keep are ingredients to success

If you believe you are the right candidate for this exciting opportunity, create a 2-minute VIDEO, post it on Youtube AND write a BLOG POST (your personal blog, not here on BP) and email me the links at [email protected]. The top 3 most convincing videos and blogs will get a face-to-face interview to be seriously considered for this job opportunity.

I bought a deal for 93% of market value and made $37K profit on a house worth $170K. The way you do it is buy it "subject to" the existing mortgage and then sell it on a lease option. You can listen to it in my podcast interview - http://Biggerpockets.com/show65

The issue with your lead though is the rehab cost. If it's more than $5K, it's going to be tough to make money from it unless you can persuade the seller to bring money to the table.

 Do you want to learn real estate investing but afraid you don't have a regular salary to bank on to pay your bills and survive? Well now you don't have to be afraid. We are looking to buy 66-100 houses in the next 12 months and as a result, we need 2 more acquisition associates.

As one of our acquisition associates, you get paid a small base salary and a PROFIT SHARE. Depending on your performance, you can earn a six figure income. Your roles and responsibilities include:

- speaking with motivated sellers, listening to them, establishing rapport with them and negotiating with them so we can buy the property at a good price or good terms

- putting out some marketing to get leads of motivated sellers (like putting out bandit signs, passing out flyers, posting Craigslist ads, etc.)

- analyzing the numbers of the deal like determining the ARV (After Repair Value) of the property, estimating repair amounts, getting market rents and then calculating the right acquisition price

- doing due diligence on the property like checking for code violations, demo order, unpaid city liens, etc.

The right candidate must be analytical - comfortable with numbers, spreadsheets and know basic math - BUT at the same time comfortable talking with people (good listening skills and have some negotiating or persuasion skills). If this describes you and you're passionate about real estate investing, email me your resume asap. Having a real estate license is a PLUS but not required.

What other benefits will you get as one of our Acquisition Associates?

1. You have flexible hours (you work your hours provided you are available for team meetings in our office - at least 2 times per week and you're ON CALL during office hours but there's no "clocking in")

2. You will LEARN everything you need to know about how to acquire properties CREATIVELY. Read my posts on The Science of Finding Deals. Training will be provided.

and 

3. Based on your performance, you can be a PARTNER in the business too and become a shareholder in the company. We plan to sell the company for a 7-figure valuation in the next 3 years.

So, apply NOW by sending me your resume at [email protected].