All Forum Posts by: Albert Yamoah

Congrats, BiggerPockets! I am soooooooooooooooooooooooooooooooooooooooo glad I found you when I did. @Joshua Dorkin has anyone ever said you look like the guy from Maroon 5 that judges on The Voice? Just wondering.

AY

Wonderful advice and knowledge. Thanks so much, @Hattie Dizmond and @Karen Margrave; I greatly appreciate it.

@Ross Schneider

I'm still not understanding what the wholesaler needs to be covered for if it's truly a deal. 

I agree with @David Begley. There is no reason that a wholesaler should get a guaranteed deposit, especially if they do not have a deal.

AY

@Joseph Ball Do you require payment of deposit before or after investor sees property/does due diligence?

@Joseph Ball if it's truly a good deal why would you hold it for so long? Why wouldn't an investor buy it? Do you require payment of deposit before or after investor sees property/does due diligence?

Currently, I live here in West Dallas (75212) in an unfinished neighborhood of tract homes. I'd like to know a few things about new home construction.

1.) Is it a sound strategy to build tract and/or spec homes for rent in unfinished neighborhoods?

2.) Where can I find the cost of building tract homes? I've found various sites that sell plans for these homes, now I'd like to find out the cost for labor and material to build them.

Thanks in advance for your input; I greatly appreciate it.

AY

When purchasing homes at foreclosure auction, investors/end users are not able to do due diligance until after purchase. Is there a formula (along with fervent prayer) for setting limits to the amount one will bid on each house (i.e. calculating costs such as rehab when the house cannot be inspected)?

Concerning wholesaling and the nonrefundable deposit:

1.) Why do wholesalers implement these (especially if the deal is a legitimate deal)?

2.) How can a new real estate investor convince a wholesaler that a nonrefundable deposit is actually bad for business?

My feeling is that if a wholesaler truly has a deal, a nonrefundable deposit is unnecessary and redundant. I see them everywhere here in Dallas and many of the deals are actually not deals (some are even MLS listed). Just wondering how an investor might get around these.

This may be mind boggling but I do not quite understand how wholesaling is considered real estate investing. Please explain. 

AY

@Kevin Siedlecki I'm a new investor but I'll offer my suggestion. I'd sell the house to get better rentals. IMHO it's much easier being an intentional landlord than an accidental one. The forums Are great for finding out more on this.