All Forum Posts by: Agustin Rossi

Thank you everyone for your feedback and I am sorry if I offended you. I was asking as a beginner and from an innocent point of view. You are right and I should have thought about it more thorough. This is why I asked in BP before doing anything ilegal or even worse, something that would put the seller in a bad spot. Sorry again.

1 Vote

Quote from @John Clark:

The fact that you are knowingly leaving out the most important fact from your scenario tells me this is a con scenario. Specifically, have you explicitly informed the seller that you are wholesaling?

Hey John I am just new to wholesaling and I want to start wholesaling but every video I saw or book I read on wholesaling says to not mention to the seller we are wholesalers, but probably is better off for everyone to be honest about what I am trying to do with the property, no matter if I am looking to assign it, do a 1031 exchange, use it as a rental, etc.

0 Votes

Quote from @Account Closed:

Quote from @Agustin Rossi:

What do I do or say when a potential seller lead ask me for proof of funds to put the house under contract? And then what do I do if a potential buyer wants to go see the house during inspection time, what do I do or what do I tell the seller? Thanks!

I'm not sure if it's a trick question, but when a seller asks for proof of funds, you provide proof of funds. That is usually confirmation from your banker, your bank account with the account number redacted or a letter from your lender.

Or am I missing something in the question?

I’m talking from a wholesalers perspective. If I’m the wholesaler, how do I show proof of funds when I’m not the one buying the house, and what do I do when the potential buyer im assigning the contract to wants to go see the house. Thanks!

1 Vote

0 Votes

hello! I need please the contracts for wholesaling in NY, so I can legally do wholesaling in NY, so if someone has them please send them over to my email which I can give you if you DM me. I am cold calling everyday but once I find a deal I will need those contracts. I got some from an investor in Texas but I do not know if those are legal to wholesale in NY.

Also, where should I create an LLC for NY? Thanks!

0 Votes

Long Island, New York

I will be attending this event! First REIA meeting I will be going too! Looking to learn and connect with many investors, specially wholesalers and buy and hold investors.

0 Votes

Long Island, New York

I am about to start my wholesaling business. I live in Southampton, but I do not believe here is the best area to do wholesale, but I will be doing it in NY either way. Closer to the city would be good and Upstate NY too. Thanks!

1 Vote

Long Island, New York

Quote from @Travis Steinemann:

Hello Agustin, I have 14 long term doors and 3 Airbnbs in Baton Rouge. I'll echo what Stephen said, insurance makes things tricky as well as the high interest rates impacting the rest of the country, but if you get a good enough deal you can maybe make it work. Our numbers were really good two years ago, less good today, but still ok because we bought right.

Thanks Travis!

0 Votes

Quote from @Stephen Keighery:

I invest and wholesale in Greater New Orleans, Baton Rouge and the Northshore. I have 25 properties (34 doors) that I mainly bought using the BRRRR method + a few I bought subject to and owner financing. Insurance is though right now which has hurt cash flow. The houses are affordable though and if you buy right the rental yields can be good.

Thanks Stephen!

0 Votes

Quote from @Corey Gregg:

I have a duplex in Mid-City, New Orleans. It is the only property that I own, and my reason for buying it was because I wanted to have the freedom of renting combined with an ok investment--and that's what has happened. I lived in one side for a year then moved and now both sides are rented out with a property management company. Insurance has been more than I expected. Rent has been a little less than I expected, but I believe that this was due to a temporary glut of long-term rentals when the city made short-term rentals illegal last year in most situations. I anticipate rent to increase over time.

Overall, it's not a bad investment but not stellar, but it was move-in ready, no renovations needed, and essentially pays for itself while it appreciates. If I were to do it again (and I might), I would focus on a property that can be bought more cheaply due to needing rehab, and potentially up to a four-plex. Make sure you know the safety and quality of the neighborhood and even block in New Orleans to ensure the rents will be what you expect. Uptown is generally safe everywhere, but the rest of the city can be block-by-block. Uptown seems to have higher price:rent ratio, but the neighborhoods are more stable there.

Thanks Corey!

0 Votes

All Forum Posts by: Agustin Rossi

Agustin Rossi has started 25 posts and replied 76 times.

Post: What to do if a motivated seller asks for proof of funds?

Post: What to do if a motivated seller asks for proof of funds?

Post: What to do if a motivated seller asks for proof of funds?

Post: What to do if a motivated seller asks for proof of funds?

Post: Starting in wholesale

Post: Suffolk County Meetup (July 2024)

Post: Hello everybody. I need recommendations for a real estate attorney please

Post: Investing in Louisiana

Post: Investing in Louisiana

Post: Investing in Louisiana

Agustin Rossi has started 25 posts and replied 76 times.

Biggerpockets Logo Post: What to do if a motivated seller asks for proof of funds?

Biggerpockets Logo Post: What to do if a motivated seller asks for proof of funds?

Biggerpockets Logo Post: What to do if a motivated seller asks for proof of funds?

Biggerpockets Logo Post: What to do if a motivated seller asks for proof of funds?

Biggerpockets Logo Post: Starting in wholesale

Biggerpockets Logo Post: Suffolk County Meetup (July 2024)

Biggerpockets Logo Post: Hello everybody. I need recommendations for a real estate attorney please

Biggerpockets Logo Post: Investing in Louisiana

Biggerpockets Logo Post: Investing in Louisiana

Biggerpockets Logo Post: Investing in Louisiana

Post: What to do if a motivated seller asks for proof of funds?

Post: What to do if a motivated seller asks for proof of funds?

Post: What to do if a motivated seller asks for proof of funds?

Post: What to do if a motivated seller asks for proof of funds?

Post: Starting in wholesale

Post: Suffolk County Meetup (July 2024)

Post: Hello everybody. I need recommendations for a real estate attorney please

Post: Investing in Louisiana

Post: Investing in Louisiana

Post: Investing in Louisiana