All Forum Posts by: Anissa Olivares

San Antonio is another market that has tremendous inward migration and year round travel demand. When looking at small multifamily we are seeing great ROI's on short/mid term stays in one unit while renting long term in the other(s). I write a permitting approval contingency in every offer to ensure the strategy can be executed after purchase.

Exactly what I was thinking, affordable housing, section 8 type deal. This would be my first venture into 4+ unit multis, so I am trying to make sense of the process and/or have someone guide me. Thanks for your response! 

I do a ton of outreach to wholesalers. I comp a lot of their properties and 9 times out of 10 the number never make sense. I take the approach of educating wholesalers how to comp a property properly. I have a HUGE buyers list and help wholesalers sell their deals but I need them to be tuned up to valueing a property correctly. 

Those wholesalers that take my advice tend to make more money with me because their numbers are starting to make sense. Too many wholesalers get their info from youtube and not from a mentor or a coach to correct them when they are off. 

I love working with wholesalers. I just learned to help educate and you will be amazed at the deals you get from the ones that take the business serious. 

Last thing just came to mind. If you are a wholesaler keep this in mind. 

This business is about moving volume. If you try to go for the biggest assignment fee then there is no meat on the bones for a buyer.They will stop lookiong at your deals. However if you think volume and not highest profit you will move more propertied and have sticky buyers. 

I recently schooled a wholesaler thast brought a great property but because he was trying to get a 25k assigment the number did not work. If he woulf have went for a quick 5k-10k I would have been able to sell his deal fast. Instead of this wholesaler closing 5+ deals in a month to get 25K or more he wants a 1 25K shot on a deal that may never move in a month. The key is volume

@Anissa Olivares

Here are some reasons why investors will say that:

1. Property was on mls and just marketing it

2. No interior pictures

3. No description of work to be done

4. No comps or non relevant comps

5. ARV is inflated.

6. Awful deal or no profit. Ie. Wholesale for $100k +$20k wholesale fee and $50k repairs ARV is $190k. Make $20k - no you don't make $20k on that deal…

The more information you can provide the better off, for example providing a summary of repairs work as a rental vs as a flip.

Right now I get wholesalers who have never visited a property but then tell me the cost of repairs is accurate….

Realistic arvs and repair costs would be a good start. 

WOW! It's good to hear the reality.

As a Wholesaler, I do believe I may have been headed toward becoming a victim of "one of those gurus" who say prepare to be wealthy and there's nothing to it.

I guess that's why I've been a little dissappointed in my results. The expectations were WAY too high.

The unfortunate thing about wholesaling is that I don't hear from investors enough, or they are very protective of their knowledge and expertise. Investors typically say "no thanks" to the deal, but don't give the kind of feedback that's been given here. While I know it's not their job to do so, and it's fair that I go through some of the same challenging times they went through (or DIDN'T go through) it is so so appreciated when genuine feedback is offered...thanks Will, Charles, and the rest of you.

I'm also glad there are those out there like Morris, who realize some are just starting out and are practicing what they may have learned.

I'll definitely take heed to these comments because I only want to sell a quality product/service!

I wonder if many wholesalers feel the same way...