Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Asa Hunt

Asa Hunt has started 7 posts and replied 30 times.

Post: Seasoned MF Investors: Bringing a newbie in on a deal?

Asa HuntPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 30
  • Votes 23

Hey Bigger Pockets! I recently committed to becoming a MF investor and, ideally, I'd like to be part of an apartment complex deal within the next 6 months. Not as the primary syndicator, but as more than a passive investor. I'd like to ride shotgun to get as much exposure to all aspects of the process as I can.

But I'm an ardent believer in adding value to relationships and doing everything you can as an individual to set yourself up for success. So my question for the experienced investors is, what would it take for you to mentor a newbie on a deal you're doing? Is being a passive investor enough? Or maybe taking a smaller or non-existent piece of the pie in exchange for helping out wherever needed? Helping raise funds? 

Any input is appreciated, as it will help shape my approach of starting my investing career!

Post: Rod Khleif vs Brad Sumrok Multifamily Coaching Review ??

Asa HuntPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 30
  • Votes 23

This has been a great read, so thanks to everyone who contributed. I'm attending Brad's R2R seminar here in Dallas next month and I'm strongly considering getting in to the MF arena. If anyone else is attending, feel free to reach out to me and let's connect at the seminar.

Post: Starting the Snowball ~ Diary of a Direct Mail Campaign

Asa HuntPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 30
  • Votes 23

Thanks for posting all the updates. This should probably be mandatory reading for anyone who wants to get started in wholesaling(myself), so they can get an accurate picture of what it *actually* takes to land a deal. 

Post: What Value Have Wholesalers Brought You as an Investor?

Asa HuntPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 30
  • Votes 23
Originally posted by @Bill Gulley:

Most all are a public nuisance assigning contracts. 

Before you write an article about valuations of services, make sure you understand how services are valued. Otherwise, you may look like you're justifying the value of a drug dealer to an addict. 

Again, understand that without the intent or ability to buy under a contract, the contract is voidable, what is the value of a bogus contract?

Now, if they take title or they partner with a real buyer group and close with that buyer they can certainly be an asset to that business. 

Professional services are generally valued based on expertise, knowledge, length of time they have practiced, success rates in comparison to similar alternative services. The alternative to a wholesaler is a real estate agent who facilitates transactions, their fee structure should be  in line with what they accomplish, not a number out of the blue. 

IMO, most wholesalers here are not just new to real estate they are new to business. Regardless of what business you go into you need to know some things about the business world, and it sure isn't what the gurus spit out!

You can never justify doing the wrong thing regardless of your intentions. 

All the best :) 

I'm trying to start wholesaling, so I'm asking this out of a genuine desire to be educated. Are you saying that assigning contracts is an all-around bad business practice? I have heard people say that you should always be ready to buy the property and then sell it as is. 

Post: What Value Have Wholesalers Brought You as an Investor?

Asa HuntPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 30
  • Votes 23
Originally posted by @Nick C.:

All wholesalers are not created equal. Some offer value, some offer the same chewed up garbage that's made the email rounds. Here's another play by play @Lee Smith

him: emails out 123 Main St, active on MLS, ARV is actually $100k, needs $30k of work, he is asking $80k. He says ARV is $150k, he says it needs $15k in repairs.

2nd wholesaler: emails out same house asking $85k, says ARV is $160k, needs $10k in repairs.

3rd wholesaler: emails out same house asking $90k, says ARV is $165k, needs $5k in repairs.

Then multiple emails of the same house come out with a mixed up combination of all the numbers above. 

I'm about to be one of these new wholesalers and I'm trying to avoid nonsense like this. In your opinion, what level accuracy do you expect when it comes to estimating repairs? 

Post: What are your experiences with not finding a buyer?

Asa HuntPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 30
  • Votes 23

So one of the last things I'm exploring before starting wholesaling is exit strategies. I'm nervous about what happens if you can't find a buyer. Some people I've heard say you have to be ready to buy the house yourself if you can't find a buyer. What do you all typically do if you can't find a buyer?  Do you have an emergency exit strategy? 

Post: Texas Wholesaling Contract

Asa HuntPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 30
  • Votes 23

Hey Xavier, I'm planning on getting started in wholesaling and using the TREC for my deals. The thought of dealing with contracts and the size of the TREC is intimidating, but these videos give an overview and in depth description of the contract that was helpful in getting over that fear.

High-level overview
https://www.youtube.com/watch?v=WEm1GHct53U

In-depth walk through
https://www.youtube.com/watch?v=q6c6olT6GTc

Post: New member from Northern California (Fremont)

Asa HuntPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 30
  • Votes 23

Hello and welcome to BP! I'm new around here and, so far, I can say it's an excellent community. Since you're interested in properties around Dallas, do you mind if I add you as a connection? I'm going to be starting a wholesaling campaign around here in the coming months and I'm building a potential buyers list.

Post: New Real-estate Investor Looking to Learn

Asa HuntPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 30
  • Votes 23

Hey Tye, we'll have to keep in touch(I live in Richardson). I'm in a very similar boat. I'm 26, just graduated, and I'm discovering the corporate life probably isn't what I want to do long term. I'm in the learning phase right now as well. 

Post: North Dallas Networking Event

Asa HuntPosted
  • Rental Property Investor
  • Dallas, TX
  • Posts 30
  • Votes 23

I'm going to attend this with a friend of mine. Excited to meet you all!