All Forum Posts by: William C.

Thanks for the info on DIG. Hopefully someone can benefit from the info. I'm not interested in that type of group. I'm looking for a smaller intimate group and really get to know the people involved. I'm also not looking for classes or any type of lectures. Nor do I feel the need to pay to meet with like minded individuals. I'm sure it's great, but that's not what I'm looking to build hear in this meetup.

I'm always tempted by the low prices, but I just don't know that the type of tenant base at that price range is going to be worth it. I'm interested to follow this discussion though.

Question for all of you house flippers out there and also spec home builders or agents that list homes for the same..... Do you or have you ever listed and marketed your home for sale before you were complete? Why or why not? I never have. We have always staged ours houses as well and pricing is everything but we've been successful at selling at or above asking within the first 2 weeks. Given the market conditions right now, there is literally no homes on the market in our target price point in the neighbor we are building. We are adding a second floor to a rancher and redoing the inside from the basement up. I'm tempted to see if there are buyers out there willing to engage during the building stage. I'd be willing to allow them to customize some of the finishes with a signed agreement of sale and non refundable deposit (at least for any customized finishes). As an agent I helped a buyer purchase a home that was mid flip, and it was a success. I have always wanted to show the home in its absolute best light come time to sell, but it's a feeding frenzy out there and having a buyer lined up through the build phase would be great. I walked through a model home in a new subdivision near my house, in a different market than my project, and he mentioned they tried to market them as pre builds and had no luck, but once they had the model built they were able to sell about 20 since the end of last year. I lean towards having the finished product.

@Jessie Nunley clear communication can be the key to getting support.  Just explain to them where you are investing, and why.  We rent in a college town in a well populated area so the demand is far greater than the supply.  Iv have almost 10 years experience in that rental market so I can give them data to back up my plan, and then more importantly we rent within days of listing it for top market value and prove the data to be correct.  Brandon says it perfect in one of the podcasts I just listened to but of course everyone talks about the horror stories and the weird tenants at the cocktail party, they are fun and entertaining to talk about.  They don't realize the other 364 days of the year are quiet and boring.  

Wouldn't it be cheaper replace the HVAC with a high efficiency unit that doesn't need a chimney and simple abandon the old one? In fact that's what we did on one of our projects rather than mess with a new chimney.

I think the advice so far has been excellent. I'm curious though what exactly you told them you "would be spending your money on". Money is not spent ON real estate, it's invested, at least in most situations. Yes there are people who lose money on deals, but what is you plan to get involved in the industy? Are you buying and holding, fixing and flipping or something else. I'll be honest most of my friends and family are jealous when I tell them about my current project or when I collect my rent checks or when I come home from a settlement on a flip. I've learned it's easier to show people than to tell people about what can be done in this business. Just show them, then they won't be naysayers they'll start asking how they can get involved.

David Washington may ask why you are so hell bent on being wholesaler? You have mentioned it's "perfect for you" and "fits your long term goals" but as Jay so eloquently put it in his last post, wholesaling will open little if any doors in the business long term. Personally I view wholesaling as a "one off" type deal that in some cases can be a win win win, but in a lot of cases it's lose (seller) win - big win (flipper). So maybe if you could share with us more specific reason why it would be perfect for you and what your actual long term goal are, we might be able to give you better advice to help you along in your real estate "career". Jay has proven getting a license and paying a broker $199 a month would be a simple and legal way to achieve what your trying to do, but it didn't really seem like you thought that was a good route to go. Wholesaling is a job. It's not real estate investing. Are you a top notch marketer? Are you great at selling on the phone and in person? If so maybe wholesaling would be a good fit. Hopefully you shed some light on your situation and your goals so we can understand why wholesaling is a better fit than other ways to succeed in the real estate industry. Best of luck in whatever you decide to do.

anyone interested in meeting up direct message me with your phone number.  I found a location that will have us.

Max for the match, then just borrow against it to buy RE and pay myself back with interest. Win win win.

Scot Howat from the sound of his OP and other responses he already has off market deal flow set up. He's looking to add to that by throwing some mud at the wall to see what sticks, and automate the entire process through software so it's not entirely time consuming. Correct me if I'm wrong OP, but that's the way I have interpreted the thread. I think everyone in here has made it clear it's not as simple as getting a referral for a good agent and off to the races submitting 100s of lowball offers. With that said, maybe you should rephrase your wording when approaching these agents. Lowball offer is sure to attract very few willing to help. Why not make competitive offers based on solid deal analysis, if they happen to be low, ok, but if they happen to be "high" relative to list price, who cares? I think sometimes people get the thought the need to lowball in order to make money. A list price is just a list price. The value of the home should determine an offer amount. Iv seen list prices well under market value. Set yourself up for success rather than failure. You don't have to get the home for 60% of list price to win, you just have to get it for an amount that makes sense in your market and for your business. Hope this helps you make a little more progress with finding an agent.