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Updated over 8 years ago on . Most recent reply
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How's my plan?
So I'm trying to take steps to put processes in place to help get the ball rolling. Theoretically I feel like this should work but reality, I feel like, is not this simple:
Have a number of different realtors (possibly wholesalers I've established relationships with) keep an eye out for potential deals and let me know when they come up
Have a number of financial partners and lending institutions lined up ready to JV with when deal do come up. Different deals would call for different structures, pay outs etc....
Have workers lined up ready to perform rehab - they've been trained what preferences we have (flooring, colors, hardware etc...)
Rehab, stage, sell.
This way I'm having the realtors/wholesalers bring me the deals, investors ready to go. purchase it, rehab it, stage it, sell it.
What nuances am I missing?
Most Popular Reply
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- Real Estate Broker
- North Richland Hills, TX
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The reality is you can't line up workers ready to go to work when you are. They want to stay busy regardless of your deal flow, and sometimes they'll be backed up w/ other projects when yours comes along. It's a good idea to have backups, unless/until you can hire and pay your own crews to work for you full time.
Regarding financing, most financial institutions will want interest, points, and fees, not creative pay out structures. Individuals are likely to be more flexible here.