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All Forum Posts by: Adrienne Bryson

Adrienne Bryson has started 28 posts and replied 268 times.

Post: Wholesale Busted

Adrienne BrysonPosted
  • Flipper/Rehabber
  • High Point, NC
  • Posts 276
  • Votes 183

"Fact" I actually stated GOOD wholesalers will get your house sold.  That is true.

"Fact" I am not referring to "lots" of wholesalers I am...again...referring to GOOD wholesalers.

etc etc same response to every "fact" you listed.  I don't think you can refute a single one of the things I said when it comes to GOOD, REPUTABLE, MORALLY UPSTANDING wholesalers.  Every "issue" you bring up only applies to those that are doing it WRONG and doing bad business.  I can, in the same way, fault all agents for the few that will manipulate their unsuspecting clients... But that would be silly and closed minded of me if I did.

If you as are buying houses I am about 99% sure you are NOT paying ARV or anywhere close for the same kind of distressed houses wholesalers go for. You are buying at a discount. NO different than a wholesaler.

For you to say "[wholesalers] are exclusive to lies and BS deception" is naive at best.  EVERY field of business has those unscrupulous people that scam lie and cheat.  Including "real investors" AND real estate agents.

Yet again, you have no real basis for your hate of ALL wholesalers.

I have no need to "justify" anything.  I'm not doing anything wrong.  I'm just answering your question.  I have nothing against you and no desire to argue.  But you can't ignore and twist my words to suit your biased opinions.  I gave you three actual answers to your question.

Post: Wholesale Busted

Adrienne BrysonPosted
  • Flipper/Rehabber
  • High Point, NC
  • Posts 276
  • Votes 183

I will answer your question John.  "What can a wholesaler offer that an agent can not?"

The biggest thing is that a good wholesaler (operative word being "good") WILL get your house sold.  100% no ifs ands or buts.  Either they will find a buyer and assign the contract or they will buy it themselves.

I have NEVER heard an agent say "Well we tried listing it on the MLS but it didn't sell, so I'll just buy it from you myself so you don't have to worry about it any more." I'm sure there are investors with licenses that do that, but then they aren't buying it as an agent they're buying it as investors... in which case they'll be looking for the same discounted price as any wholesaler or rehabber. I certainly have never heard and doubt I will ever hear an agent say "I'll just buy it from you myself at full list price to get it off your back."

Another thing, and the reason most motivated sellers don't bother with agents, is that wholesalers buy FAST.  Listing with an agent can take months or even years before selling.  The thing about "motivated sellers" is that they're motivated.  They need to sell their houses and usually don't have the time or financial ability to sit around and twiddle their thumbs waiting for offers.  As an agent you can say "Let's list the house and hope to sell quickly.  If it doesn't sell in a few weeks we'll drop the price and keep our fingers crossed."  As a wholesaler you can say "Let's get this house under contract TODAY and you'll have the burden off your shoulders in 30 days or less."

I've seen you mention that wholesalers usually take larger fees for themselves than an agent would.  It's the same principle as buying something you need brand new and paying for next day shipping when you order an item you need.  You can try craigslist and get the thing free or super cheap, but there's no guarantee the thing even works.  Or you can pay the price for brand new and pay extra for expedited shipping.  Not only do you know you're getting exactly what you need but you know for a fact you'll have it in your hand on Tuesday.  If it's something that you need and time is of the essence, it's worth the price.  I'm not justifying those that intentionally lowball the seller just for $5k or $10k more profit (and that goes for wholesalers and investors alike).  But to imply that agents are better for a seller purely because they may cost less is silly and doesn't account for the actual reasons wholesalers work in the first place.

It seems like your issue is more that most wholesalers don't have that little piece of paper and someone else to split their commissions with.

I do totally understand your vendetta against BAD wholesalers however.

Post: Marketing help!!

Adrienne BrysonPosted
  • Flipper/Rehabber
  • High Point, NC
  • Posts 276
  • Votes 183

I will be following this topic! I'm always looking to learn how to improve my marketing.

Do you mind sharing where you found Brandon's letter

Post: Wholesale Busted

Adrienne BrysonPosted
  • Flipper/Rehabber
  • High Point, NC
  • Posts 276
  • Votes 183

Just ignore the drama @Cody MacRae. Bottom line: if you can work with it, do it. If not, pass.

Don't throw away good leads, but don't stress over leads that won't work.  Dedicate that time and energy to finding more leads!

Post: Wholesale Busted

Adrienne BrysonPosted
  • Flipper/Rehabber
  • High Point, NC
  • Posts 276
  • Votes 183

As you can see, some investors just have a "thing" against wholesalers. It's very possible you're dealing with one of them.

Or it could just be that he was burned by a shady wholesaler in the past and doesn't want to risk it again.

If you have serious buyers and are confident you can close, follow up with him and tell him that. Or better yet, just close yourself. Tell him you'll be buying rather than assigning and it will probably put his mind at ease.

If you don't feel like you have the ability to work this one out, let it go. There will be other

Post: Meetups and Networking for Working People

Adrienne BrysonPosted
  • Flipper/Rehabber
  • High Point, NC
  • Posts 276
  • Votes 183

I wish I had more opportunities to network with other investors but the vast majority of local meetups are in the middle of the day. I work full-time! Am I just destined to miss out?

Are there any other investors and aspiring investors that would be interested in some weekend events? Or maybe an occasional dinner meetup rather than lunch?

Post: Wholesaling in Africa

Adrienne BrysonPosted
  • Flipper/Rehabber
  • High Point, NC
  • Posts 276
  • Votes 183

@Cleomentes Powell on the surface I would guess Accra would be a great place for investors, and therefore a great place for wholesalers.  The economy is growing and a lot of people immigrate there to "live the good life"... You might even have decent luck wholetailing.

Of course that's just my limited understanding as someone that has spent time there as a visitor/tourist.  You will have to evaluate the market a little more deeply.  Definitely reach out to local real estate professionals and ask for their input.

Post: How long did it take you to do your first deal?

Adrienne BrysonPosted
  • Flipper/Rehabber
  • High Point, NC
  • Posts 276
  • Votes 183

@Brian Howeth Good luck!  As far as advice... Know your numbers, get to know your seller, try not to let emotion affect your negotiation, and go in with confidence.

Post: Struggling on an offer Price

Adrienne BrysonPosted
  • Flipper/Rehabber
  • High Point, NC
  • Posts 276
  • Votes 183

In general the formula used is:

(ARV x 70%) - repairs - wholesale fee = MAO

So in this case it would be

(172000 x .70) - 15000 - 2500 = 102900

So the absolute highest you could safely offer is $102,900.

Some notes I'd offer to you being new... Double triple quadruple check your numbers. How are you finding comps/determining ARV? How are you estimating rehab costs? How are you estimating closing costs? Are you going to take holding costs into consideration? Is there enough equity in the condo for a wholesale deal to be feasible? What is the market like for condos (particularly 1bd/1ba condos) in the area?

If push comes to shove, consider reaching out to more experienced local wholesalers that can walk you through the deal and help you avoid major mistakes.

Post: Hello from Durham, NC

Adrienne BrysonPosted
  • Flipper/Rehabber
  • High Point, NC
  • Posts 276
  • Votes 183

Welcome!  This is a great place to learn!