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All Forum Posts by: Armani Emon

Armani Emon has started 31 posts and replied 81 times.

I don't think I worded it correctly.

I'm saying the buyer wants to examine my property and determine the initial repairs+the upgrade cost. Then she wants to take the total amount out of the formula. So her logic is ARV- Repairs+upgrade costs*.7= What my asking price should be. I just want to know is that formula how typical deals are done with flippers/rehabbers?

Post: What are targets that you must hit when cold calling?

Armani EmonPosted
  • Baltimore, MD
  • Posts 85
  • Votes 37

Starting a cold call campaign , I want to know what are the must hit points?

Originally posted by @Frank Geiger:

If it only needed 1k-3k of rehab, she would sell on the MLS. Stick to your rehab number

 it only needs cosmetic work to have lets say like a tenant or something in it, however for a fix and flip investor it would need upgrades. So basically what I'm asking is if i want to sell this home do i base my asking price on the upgrade costs or the cosmetic minimal repairs that are needed to sell to an investor.

Post: Does the wholesaler include rehab costs in repairs ?

Armani EmonPosted
  • Baltimore, MD
  • Posts 85
  • Votes 37
Originally posted by @Robert Garcia:

Typical formula would be ARV x 70% - Repair costs = Offer price. Not sure what you mean by "Repairs+Upgrade" costs, they're the same thing in this situation I would assume

So I did my numbers like

ARV- Immediate repairs*70= My asking price.

The house is in perfect condition , minus minor cosmetics. However the buyer wants to rehab and upgrade it and wants me to pay the upgrade/rehab fees . Does this typically happen in deals?

Post: Does the wholesaler include rehab costs in repairs ?

Armani EmonPosted
  • Baltimore, MD
  • Posts 85
  • Votes 37

I have a buyer who wants me to use this formula

ARV- Repairs+upgrade costs *70=asking price. Is this accurate?

I told the buyer that I want 164K for a property.

She is a rehabber , the repair estimates are like 1-3k for this home 

She is using the cost for the upgrade to determine what repair cost she is going to subtract from the arv

This is her mindset

$235 000 (ARV)
times 70% =
$164 500 (which is my all in number for purchase, rehab, holding costs and closing costs)
subrtract
$20 000 (repair costs) =
$144 000 (my purchase price Id need the property to be at)

Do deals work this way? I dont want to leave any money on the table.

Post: How can I get more leads in less time?

Armani EmonPosted
  • Baltimore, MD
  • Posts 85
  • Votes 37

Appreciate you guys soooooo much!

Post: How can I get more leads in less time?

Armani EmonPosted
  • Baltimore, MD
  • Posts 85
  • Votes 37
Originally posted by @David Bokman:

The real question is what are you doing NOW? Are you doing any kind of marketing? Have you closed any deals? I tell people all the time wholesaling has NOTHING to do with real estate and everything to do with sales and marketing. There are NO TRICKS to this. 

As to leveraging your time, what skill sets are you good at? And what are you currently doing for work/most of your day? Do you have a marketing budget? 

So right now I'm doing everything that i possibly can , mail , cold calling, networking, literally anything i possibly can, haven't got any deals but trying so harrrrrddd. But I saw that it's possible to get up up to 20 deals in 6 months, and I also I keep seeing other newbies jump right in to the game and get deals immediately. So i really wanted to know if there was anything extra I can do to find and close more deals in less time. I have a marketing system set up, I have about 3-8 hours each day of the week trying to get my cold calling in. My budget is targeted toward my marketing system I have developed. I can really exceed that. I'm not too sure what skills I am good at yet still learning.

Post: How can I get more leads in less time?

Armani EmonPosted
  • Baltimore, MD
  • Posts 85
  • Votes 37

Guys I have the advantage of time on my hands.

Knowing this

My goal is to get to my reaching goal of 10-25 wholesale deals in 6 months.

For the people who are wholesaling effortlessly, how can i leverage my time so that I can start producing more deals in less time?

Disrespect , sarcasm. and anything but genuine helpful answers are not welcomed.

Post: How can I get more leads in less time?

Armani EmonPosted
  • Baltimore, MD
  • Posts 85
  • Votes 37

Guys I have the advantage of time on my hands. 

Knowing this

My goal is to get to my reaching goal of 10-25 wholesale deals in 6 months.

For the people who are wholesaling effortlessly, how can i leverage my time so that I can start producing more deals in less time?

Disrespect , sarcasm. and anything but genuine helpful answers are not welcomed.