All Forum Posts by: Ali Radoncic

 hahaha Ill go back to working at my dads pizza shop lol

Interesting, so where would we go from there? Instead of having a centralized platform for agents to list sellers properties in a defined area, it will become fragmented with multiple sites marketing their own exclusive listings ? Its my understanding that Zillow etc pull listings from the MLS. If the MLS goes down, Id imagine we have another platform take its place. Same thing, just new look and new name.

I think the MLS is an awesome tool. If buyers agents cant see the commission directly on the page like they used to, Id imagine they will simply pick up the phone and ask the listing agent.

Have a buyer rep in place that details how you will get paid.  If you are not able to get it from the seller side, you will also be covered on the buyer side with a written contract.  It is my belief when the smoke settles, listing agents will tactfully educate their seller on the importance of having buyers agents hustle on their behalf.  Sellers, in light of this new proposed ruling, will have a knee jerk reaction, but in time they will themselves see the importance of having to compensate for greater buyer attention.

We came out of a white flame hot covid market where commissions were flying, sellers were getting paid, and buyers were getting smoked if they couldn't bring 100K above ask.  That market was the exception. We have a sellers market and we have a buyers market, and rest assured the pendulum will swing the other way in due time.  Not saying that time is now by any means.

I see some folks are making the assumption that this will dissolve the MLS all together. I don't see that but I'm curious to see what reasoning is behind those assertions.

 I would appreciate that thank you sir

@Jeremy Rosen

Do you operate in the DFW area as well?

@John Burtle That's awesome man, good luck to you.  I would really enjoy hearing about the process as you move through it!

 The art of wholesaling is very difficult but 100% possible if you have that hustlers spirit.

I have a website I can share with you if you DM me that will compile all the lists you can think of (I'm not sure if I can drop the link here or I would)

Driving for dollars like you mentioned.  Makes it easier if you have certain apps to log the houses you see, so you can get quick intel, skip trace, cold call etc.

Social media - Very saturated but if you spend 99% of your day scrolling like most people do why not scroll for dollars too.

Door knocking is the ultimate hustle if you're up for it.

Those are the cheapest ways to go about it.  Successful wholesalers begin to scale when they know their target areas and which type of sellers they are looking for ie. Tired land lords, pre F/C, tax liens, and probate sellers.  Massive marketing campaigns go out to these folks to get your phone ringing.

The fun doesn't stop there. If you're lucky enough to find an interested seller, you will need to have the tools to quickly analyze the deal, understand if the sellers motivation to sell, pain points if any, and genuinely see if you can provide them with a quick exit strategy. Some times its better for them to just list on the MLS depending on their situation.

Being able to run comps, and have a good understanding on how much a house will need in rehab is super important.  Lots of wholesalers out there don't know how to do those 2 fundamental things.

Lastly formulating an offer under fair market value with enough equity to sell the contract to an investor. Depending on your market, 70-80% of the ARV minus repairs.

This is a quick run down but maybe you will find it helpful.  There isn't a magic bullet, and I didn't reveal any new shocking ideas here.  If there is a magic bullet, I would name him Persistence.

Sounds like you are on your way then!  Plano (Collin county in general) is super competitive and for obvious reasons.  Its a great place to raise a family and live!

One of the great benefits about fixing and flipping properties is that you don't have to be necessarily married to an area you might not want to live in.  Not suggesting some of the war zones but I think you know what I mean.

Some areas I think would be good to look into besides North Dallas and Collin County - Irving, Grand Prairie, Cedar Hill, Duncanville, Desoto, and the red bird area.

You will see some 1970 brick builds here and up.  Solid mature neighborhoods with some good upside imo.  The competition isn't crazy like it is up north either.

Higher end flips are less competitive as well. As a newer flipper though, it might be best to get some projects under your belt before you venture into those.

@Jamie Foster How far along are you in the process?  Have you built a team yet?  Deal flow, investor friendly lenders, investor friendly contractors, and a good retail agent that could sell your finished product?

Its good to narrow down your market (Dallas is big)  I suggest picking 1-2 zip codes that you are very familiar with (maybe close to where you live?) 

Your entry price estimate of 200-375K is very reasonable in my opinion and really opens up your menu of options.

 Awesome books!