All Forum Posts by: Brandon Green

Investment Info:

Condo other investment.

Recently picked up this unit for STR arbitrage.

What made you interested in investing in this type of deal?

I was approached by a new investor that was interested in getting into short term rentals. They knew of my background managing STR properties and they wanted to partner with me to help guide them on this journey.

How did you find this deal and how did you negotiate it?

We found the property in a FB group and negotiated the lease with the property manager.

How did you finance this deal?

The lease and furnishings were financed with credit cards.

How did you add value to the deal?

The unit is fully furnished and we have included a number of amenities for guests.

@Olyvia Troop I use a software that allows me to build various lists (vacant properties, high equity properties, preforeclosures, properties owned for a certain number of years by people of a certain age with a certain amount of equity, etc). The list can be pretty much as targeted as you want them to be. Would your investor be willing to purchase lists of properties at a much more discounted rate than say list providers like List Source or would they be interested in partnering with someone who could bring them potential deals?

David is definitely correct. Read books, go to YouTube, talk with experienced investors, get a mentor if you can. From there some people say the first step is build a buyers list, some say find a deal, and some say do both at the same time. I went the route of building my buyers list first. I built a solid buyers list pretty fast and was able to leverage my buyers list to partner with other wholesalers that needed a buyer for their deals. Last week a wholesaling team contacted me about a property they had and asked me to market it for them to find a buyer. I found them a buyer in less than an hour. We close next week & I'll be receiving a nice little portion of the profit from less than an hours worth of work.

I'm interested in knowing from those of you that do JV deals with other wholesalers, how do you structure your deal/partnership? Do you have a contract that you use to spell out terms of the JV or do you use another method of solidifying the partnership?

The Art of Wholesaling Properties: How to Buy and Sell Real Estate Without Cash Or CreditBook by Alex Virelles and Aram Shah. The book gives you a great step by step guide to start wholesaling.