Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 10 years ago on . Most recent reply

User Stats

472
Posts
272
Votes
Joshua McGinnis
  • Rental Property Investor
  • Beverly Hills, CA
272
Votes |
472
Posts

I just made my first two wholesale deal offers

Joshua McGinnis
  • Rental Property Investor
  • Beverly Hills, CA
Posted

I just made two offers on two different wholesale deals I had in my pipeline. 

One was for a home worth about $380k and my offer was $215K. The second property was worth around $25-30K and I offered $5K.

The first one was the son of the mother who recently took title when her husband died. He didn't necessarily take my offer poorly, but he said his mother will probably just put it on the market and see what they get. Given the condition and location of the property, if they price it right, I'm sure they'll get much more than what I was offering. Not sure what else I could do there to convince him. I'll probably follow-up in a few weeks and see if they've done anything yet.

On the 2nd property, it was already listed, but it was vacant and title recently transferred to SEVEN of the children. When I made my $5K offer, she chuckled and said she could just give it away without the hassle. I tried to tell her that I wasn't asking her to give it away and that my number includes costs of repairs, etc, but she said no thanks.

Kind of a bummer, but that's how it goes I suppose. On to the next one.

Most Popular Reply

User Stats

504
Posts
395
Votes
Joseph Ball
  • Residential Real Estate Agent
  • Groveland, FL
395
Votes |
504
Posts
Joseph Ball
  • Residential Real Estate Agent
  • Groveland, FL
Replied

I think your offers were right on. I buy this way all the time. Need to know your numbers, find motivated sellers. 

For the one that was listed, you probably presented your offer to a real estate agent. Of course, she calculated her commission. I have never been able to buy through agents. (I am an agent.)

Don't be discouraged. For those who say it can't be done, You're Right! It can't! (Just keep believing that.) I have been doing this for a long time. I know.

Loading replies...