All Forum Posts by: Arthur Cook

Hello BP fam!

I''ve been wholesaling in SD for the past 7 months and recently door-knocked a property in my hometown, Oceanside, and the seller is interested in hearing an offer. It is a big enough parcel to handle probably about 10 new homes, based on the surrounding neighborhoods. I'm doing my best to calculate an offer on the property but I need to connect with someone who has developed homes in the area and can help me put some numbers together.

Some of the numbers I know I need are...

1. Home builder profit percentage

2. House Build Hard Cost per Sq Ft

3. Cost to Develop the Land Per Lot

4. What can be expected for entitlement cost per lot

This is my first time doing anything like this, so would love to hear some thoughts on it.

Thanks!

Thanks for the reply, Dan.

I just got off a call with someone who is walking me through the steps of valuation and information I need. Right now what I need to get from the seller is the T12 and Rent Roll. I'm also going to look into the Houston market and see what cap rate commercial multi-family properties are trading for.

Thanks for the note there about actual NOI rather than projected. I'll make sure to focus on that. 

Thanks Dan!

Hey there BP,

I'm a wholesaler out in San Diego and through cold calling I came across a motivated seller who owns an apartment complex in Houston. My end goal is to own multi-family/apartments, although I own nothing yet. Since I have never owned property before, it seems crazy, but as I move forward with this buyer I'm weighing the options between wholesaling it to an investor, holding it by myself, or JVing it so I can begin building my portfolio. I'm wondering if it is an outlandish idea to think I could own it myself. 

Additionally, in case I am able to get it under contract and decide to wholesale it, are any of you interested in possibly JVing or being the end buyer?

What are some things I should be thinking about as I move forward? For those investors out there who do own apartments, what sort of due diligence should I be doing, specific to purchasing an apt? Any good resources?

18 Units

I have yet to get the financials on it.

Thanks!

Awesome! That gives me a few to look through. Thanks Everyone!

I'm looking for a good CRM for tracking Wholesaling Leads. 

I'm using a list of NODs and door knocking to generate leads. Since it is a long process and usually requires multiple interactions and visits, I realize I need a good system to track each lead and my interactions with them. 

Does anyone have any CRM recommendations that they think could provide this sort of service well?

Thanks!!

I'm a brand new investor. Today is officially day one. 

My idea is this:

- Find list of tax delinquent owner occupied homes in my area.

- Knock on their doors, introduce myself, ask them about their situation.

- If I can help them by putting their house under contract with a cash offer, do so.

- Find investor to wholesale to.

- Repeat

Obviously this is a simplified version, but this is the plan.

Do you have experience in door knocking or wholesaling or dealing with tax delinquent properties? If so, I'd love to hear what pushback, encouragement, and overall thoughts and advice may be.

Additionally, I heard there is a great podcast episode with an investor who has done essentially the same thing. Does anyone know which episode number the guest was on?

Thanks so much!