Rental Property Investor · Nyc · Member since 2020 · 51 posts · 72 votes
I’m from NYC and I got into virtual wholesaling. I got a property under contract in kiln, Mississippi with a nice spread... I’m sourcing a way to market this property to investors.... any suggestions?
Investor · Whitehouse Station NJ · Member since 2020 · 12 posts · 76 votes
5y
Doing deals virtually, sight-un-seen is here to stay. Last I checked, Mississippi isn't on Mars. Every market has it own idiosyncrasies. Hopefully someone from the area will offer to help a fellow investor out in stead of telling you what a mistake you've made.
Rental Property Investor · Phoenix, AZ · Member since 2013 · 919 posts · 911 votes
5y
@Luis Serrano, Mississippi Gumbo isn't just a food. ;-) The south is rampant with foundation problems due to the water content of the earth/ground. The exception to that is parts of Florida where the foundation is dead coral.
New to Real Estate · Waco, TX · Member since 2020 · 2 posts · 4 votes
5y
@Luis Serrano congratulations!! Don't listen to negative people!!
Lots buyers later buy from wholesalers that finding deals for themselves lot time involved.
I just listen podcast couple days ago about this bigger pocket community support each other well i didn't see much on this post. I wondered what admin think about negative people in here.
Miami, FL · Member since 2017 · 11 posts · 2 votes
5y
@Luis Serrano
Hey brother don’t let anyone here tell you that you can’t do it lol there’s lots of naysayers in this app. I wouldn’t get wholesaling advice here. Facebook is much better for that!
Call some local brokerages and ask if they have any agents that specialize in working with investors and then offer them a finders fee. Good luck!
If a legitimate broker has a good deal and can take a 5% commission why would he want to take a $500 finders fee from some shady out-of-state operator they dnn't know?
Call some local brokerages and ask if they have any agents that specialize in working with investors and then offer them a finders fee. Good luck!
If a legitimate broker has a good deal and can take a 5% commission why would he want to take a $500 finders fee from some shady out-of-state operator they dnn't know?
Just asking for a friend.
Sure, IF a broker has a good deal and IF they are acting as a dual agent and IF the finders fee is only $500 then it might be difficult to find a broker willing to go through the hassle. However if the property is in fact a good deal and I know a buyer who would really want it then it could be worth it. I've made deals happen for less than $500 because I wanted to make that investor happy and I knew they would be looking topurchase more properties in the future.
Rental Property Investor · Nyc · Member since 2020 · 51 posts · 72 votes
5y
Update the property had leans so we have two buyers trying offering subject to with a 5 year balloon. One I’ll get 5k wholesaler fee the other one I could get the 10k. Waiting one the second one... oh yeah and the seller is ok with both options. 🤯
Ps. I got a mobile home in the same area and about to put him in a contract... 🤭
Update the property had leans so we have two buyers trying offering subject to with a 5 year balloon. One I’ll get 5k wholesaler fee the other one I could get the 10k. Waiting one the second one... oh yeah and the seller is ok with both options. 🤯
Ps. I got a mobile home in the same area and about to put him in a contract... 🤭
I’m from NYC and I got into virtual wholesaling. I got a property under contract in kiln, Mississippi with a nice spread... I’m sourcing a way to market this property to investors.... any suggestions?
Luis - 1st...CONGRATS!!!! 2nd...can’t believe all the negativity you’re receiving here. You won’t get that in my mastermind and we have a virtual session just for wholesaling. Let me know if you are interested in joining.
Rental Property Investor · Nyc · Member since 2020 · 51 posts · 72 votes
5y
@Jay Helms send me the info... the hate I get - it just fuels me to prove them wrong. I’m doing another virtual wholesale in DC 1.2m - 20k assignment fee with a buyer in line. 🤔🤭👍🏼
Status of this property in Kiln, MS is 21 days ago @Victoria Lansen contracted a deal with my friend claiming she was a broker, had my friend go see the property, met a guy there with the key, emailed the contract, my friend wired over $10,000 to a title company expecting to close this past Wednesday, and wouldn't you know, @Victoria Lansen claimed her acct was hacked, the last day $ was wired @Luis Serrano says he didn't have the contract on the house... couldn't even give my friend a contact number to speak with him to help clear some confusion, at least the possibility of him being involved
Status of this property in Kiln, MS is 21 days ago @Victoria Lansen contracted a deal with my friend claiming she was a broker, had my friend go see the property, met a guy there with the key, emailed the contract, my friend wired over $10,000 to a title company expecting to close this past Wednesday, and wouldn't you know, @Victoria Lansen claimed her acct was hacked, the last day $ was wired @Luis Serrano says he didn't have the contract on the house... couldn't even give my friend a contact number to speak with him to help clear some confusion, at least the possibility of him being involved
This post is hard to follow. Are you saying your friend is the end buyer on this deal, money was wired and now they are out the money and no house? If so would be interesting to get a follow up from the original poster.
This post is hard to follow. Are you saying your friend is the end buyer on this deal, money was wired and now they are out the money and no house? If so would be interesting to get a follow up from the original poster.
Rental Property Investor · Hopkinsville, KY · Member since 2020 · 14 posts · 5 votes
5y
@Luis Serrano Bro, thanks for putting it all out there in your posts. A lot of us just started in our perspective fields of REI. I am in the process of building a quad-plex on some land I got in an off-market deal after demolishing the house and it's a short sale. I wrote the contract myself with two addendums with the help of my attorney. This is my first deal! Like you I initially felt overwhelmed, but kept one foot in front of the other. We start building in Jan/Feb 2021 for $105 a sq ft, should appraise for $120-$125 a sq ft and it is a house hack. Using my VA Loan to purchase from my builder. I purchased another piece of land off the MLS for half the listing price after is sat for 4 months. I have a lender lined up to finance my next build on that land late 2021. Please keep updating this thread with your progress. While some cannot accept the risk you have nor can they understand your motivation, I hope you also see the ones on here saying "go for it!" That's what I love about this community.
Rental Property Investor · Nyc · Member since 2020 · 51 posts · 72 votes
5y
@Joshua Batey thank you brother... that’s amazing!!!You are doing it man, I wish you the best. I am just building financial freedom one deal at a time. This deal has taught me a lot and has linked me with like minded people. I am starting to get traction and thank God it led me to three more deals. I am gearing up with more systems in place and I am hoping to end the year strong. 🙏🏼
Rental Property Investor · Houston, TX · Member since 2017 · 50 posts · 39 votes
5y
@Luis Serrano
Hi Luis, find some agents that recently listed or sold a rehabbed property near the subject property. You can use Zillow for this and call them up and see if the know any investors that would be interested in the deal. If they work with investors and it's a good deal, they will jump on it and be more than happy to present it.
I have met and bought properties from wholesalers on connected investors. That site seems like a good way to build a buyers list. Wholesalers also advertise on there.