All Forum Posts by: Adrian Reyes

Originally posted by @Ashley Schroeder:

Why would we teach money management in schools when we can teach common core crap instead???  Don't forget how the kids also learn in schools that they need to wear/have the newest, latest, and greatest! 

 Exactly!

this reminds me of what Robert Kiyosaki says "the poor and middle-class buy liabilities and the rich buy assets" 

Originally posted by @Myles Ngumezi:

I've been really studying wholesaling, and as a newbie I figured I should focus on properties 100k and lower. How do I go about running the numbers to know if its a good deal or not? Thanks in advance.

I like to use this formula to estmate a good MAO (maximum allowance offer) which is:

(Wholesale fee)-(fixed costs)-(repair costs)-(flippers profit)-(ARV)=MAO

Keep in mind that your dealing with a flipper. You want to make sure the investor will make a good profit on the flip. The way i see it is the higher the repair costs the lower the profit depending on the ARV. Hope this helps

WOW 15 hours a week where do i apply?!? Lol fyi be aware keller williams commission rates are pretty high if you decide to list with them, over here where im from the broker will take like 10-12% from that commission made by the agent dont get me wrong really nice people though with nice properties (just a tip) 

well obviously you want to make the most out of return. Whats is your price range for flips? I am willing to help you out as much as I can. 

In my opinion i would get it just because of the legalities depending on what strategy your planning on, i really do want to get my license to wholesale my properties that i come across, but it is a lot of money to acquire. 

"Quit your job in 19 weeks or less" by Sean Terry, I know it sounds super cliche but It really does take you step by step in the wholesale/wholetail process everything from marketing to selling your contract it's awesome! Wish you the best Good luck!

Ned Carey thanks very true when you say "easy low hanging fruit" makes sense, so the same would apply if the mortgage was less it would still be paid off in settlement?

Hey everybody, So this question goes out to all you wholesalers out there! And to all RE pros, ok everybody. I say wholesaler because well I've done pretty much all my homework on that particular strategy. So my question is this; when you visit a distressed home with a VERY motivated seller and #1 they still have an existing mortgage/loan or #2 are behind on taxes what happens next?? I'm still trying to understand " sub to" or "due-on-sale" etc. please I need help! I'm open to all your information. Thank you

Good question never thought of it till I read this post, I also (to keep all options open) analyze MLS listings or any other listing by an agency. So I will definitely keep in mind.