All Forum Posts by: Adam M.

I bought a house like that once site unseen, but my plan was to rehab. I had some trustworthy people put eyes on it and ended up being a profitable deal. I think I made around $40k on that deal...would I do it again?? Probably not!

I agree with @Brian Jordan. Way to big of a project for your first deal. Also, go ahead and double your timeline. Wholesale that thing all day long. 

I would just write a program within excel via VBA or something. 

Depending on the mailer or situation, but I used to simply say that we obtain info from public records. We are happy to take you off of the list if you're not interested. 

I know this varies by state, but I would love to hear how you guys manage your tenants maintenance responsibilities. Do you guys have a set list for each property or keep it really simple and have a general rule outlined in your leases?

Honestly, I've never lost a penny on any RE deals. I'm very conservative, so I've probably missed out on money/deals.

I agree with @Peter Tverdov Something doesn't add up with those numbers. What's the condition of the properties?

@Josette Reynolds What kind of margin do you typically work on with your wholesale deals?

@Chris Vair 

Good thoughts. The way we started and our big picture plan was to do rehabs and wholesale to raise capital and then execute a buy and hold strategy. Rehab margins now are so small that it's too risky in my opinion. Don't get me wrong, there are always deals to be found, just not as abundant as it was between 09-13. I'm sure it will swing back in a few years, it always does. Go to as many of those investor meetups as possible. You'll be a fly on the wall for a while, but that's a good thing. 

I think @Alan Grobmeier is right on for 2017 outlook for buy and hold. Come to closing with a large down payment and ride it out for a few years or sit on the sidelines if you can't stomach it. Grow sloooooowww. 

I'm an engineer also, haha! 

@Chris Vair What's your plan? Would love to hear about your market.