All Forum Posts by: Alphonso Oates

@Jerry Holt I’m not in your area, but I’m interested in what methods you use to access code violations?

@Patricia Steiner, that is great insight, and I couldn't agree with you more.  With distressed properties you don't always see what you get, and "due diligence" is about expanding your scope to ask questions you may not know to ask or at least have experienced members on your team that do know.  You just expanded my scope of due diligence, thanks!  

In this case Paul, I'd expand my due diligence at your local county/municipality that allows you to look up the property address and see if there are any pending assessments. Every risk can be mitigated with due diligence.

@Paul Tabarovsky

A title company or Real Estate Attorney should be able to identify any liens on property. Without the title report you can’t know your financial risk.

After titling, it's called a net offer. Meaning after all liens or outstanding balances are deducted from ARV or resale price you can calculate your best offer price.

Overall, standard due diligence still applies, if it is allowed I would still inspect, clear title, and pull COMPS.

This must be an untouched topic.  I see a lot of questions, and you're ahead on me with the categories of status.  I'm looking to find code violation listings from local municipalities.  Have you gotten any further in your search and education with buying code violation leads?

I'm going to seek out and ask code enforcement officers directly and see how helpful they are.

Hello Oscar, are you familiar with resources to location code violations or tax delinquencies? That's an area I think is best for lead generation because it's not on the MLS and off-market allowing investors to access before anyone else does.

Developing relationships with city officials is an option I am starting with going directly to code enforcement officers?  Any suggestions that have this data on spreadsheets?

Hello Matthew.  I've completed a flip before, but I didn't think to use an attorney for a contractor.  Unless you misrepresented your question, I would suggest an attorney is overkill in cost to setup a contract for contractors.  I would suggest a good SOW (Statement of Work) and some form of agreement if you want to get formal that outlines your expectations, like when the contractor can expect to be paid, project timeline to complete specified work.  This in my opinion does not require an attorney.

r/Alphonso

@Lydia T. Ditto... social media can bring the worst out in people, but I like your justice. One for wholesalers! Because wholesalers provide deals “sometimes” that need fix and flippers to improve communities. It’s a jungle out here and everyone falls somewhere on the food chain.

Great response!

@Mary Mitchell I understand your position Mary, but aren’t motivated sellers individuals who are trying to sell quickly and avoid the retail expenses of selling a home?

In my opinion, honest wholesalers are providing a service, by helping the seller sell their home quickly. Also, a honest wholesaler depending on their strategy offers the seller a price that is based on the condition of the home ‘AS IS’ which is why it is considered wholesale. Normally a home prior to going retail with a realtor has work/repairs to be completed even if cosmetic to get maximum retail value which most motivated sellers don’t care to do.

Just another perspective, unless you feel wholesaling is illegal?

Are these meeting still going on? Please share, I am a local investor in area and would enjoy meeting up. Thanks, Al

Hey Jay! Great post... I am looking for good opportunities for a fix and flip wholesale deal in Jacksonville too. If you get any prospects that you pass on... please share let me know. If you’re interested in a joint venture, or need funding let’s talk. I’m looking for 3/2 SFH, $30-50k wholesale prices for area and lite to moderate rehab. Take care. Alphonso