All Forum Posts by: Brian Jordan

Absolutely! Pm me your email if you'd like added to our distribution list so you can start receiving our wholesale deals. Definitely get yourself an investor friendly realtor and I'd recommend @Tristam Griffith. In addition, locate the other wholesalers in town so you're getting deals from as many sources as possible.

Depends on your strategy and ultimate goal. I wholesale houses to a lot of investors in Columbus and everyone has their own formulas and criteria that they target. I would recommend you decide if you're going to maintain them or have a management company do it. If it's you, put some thought in to the types of tenants you'd like to have and almost reverse engineer your strategy from there. Want high cash flow but potentially difficult tenants, invest all in under $30k and bring in $650-$800/month in certain areas. However, some investors prefer not to deal with the drama that can come from that demographic of tenant. Locate areas that generate $900- $1,100/month and you're getting in to what seems to be a sweet spot in Columbus. All in investment from $60- $80K and what tends to be a better tenant pool. As rents increase however, you'll hit a point where your cash flow tends to diminish. You have a lot of options and some great people that are always eager to help answer your question. 

I'm very interested in coming to the next one. Looking forward to meeting everyone!

Welcome and best of luck. What areas of town are you interested in?

Hello everyone, I'm a full time wholesaler in Columbus and have begun a large scale marketing campaign in Hamilton County with leads coming in daily. Should have a few deals ready to go either this week or next. PM me your email if you'd like to receive our properties as we acquire them.

You can absolutely require a non-refundable down payment. You own the contract and that's what they're buying. Depending on the amount of the assignment fee, you can always ask for that amount as the non-refundable deposit amount. However, you can't prevent them from using their inspection period. You're either assigning them the contract with all its rights and obligations or your not. However, the larger their deposit is, the better you understand their commitment to the deal. You should be providing your end buyer a copy of your Assignment of Contract as well as the original contract with the seller. Your investor is buying your position in the contract so you better believe they're going to want to see the contract.

Your fee should be as much as the market will bear. It may be $1,000 up to $40,000. As long as your investor is happy with their purchase price, it shouldn't matter if you paid $1 for the property or $1 less than what you're selling it for. I work extremely hard to source my deals. 2 full time VA's, a Sales Manager and a full time office manager/transaction coordinator. I'm mailing 12,000-15,000 pieces of mail per month in one market and about to add my second. I've never bought a house or sold a house to someone who didn't agree to the price. Make your money when you can because it can be a roller coaster. Best of luck.

I'm currently living in Columbus, OH but am looking to invest in the Delray area. We'll be visiting in early October and would love to attend an event. Are you set up on Meetup.com?

Where do you buy your list and how many names/addresses is the current list you have?

I've structured deals like this with new investors before and it worked out fine. I'm primarily a wholesaler and have fixed & flipped around 20 houses. My deal was I sourced the property, handled all phases of the remodel (I didn't physically do the work but hired all of the subs) and then listed the property since I'm also a licensed agent. I didn't charge anything to GC the rehab nor did I collect a commission to sell the house. In addition, I guaranteed the first $10k in profits to the investor. If the property profited $9k, I got nothing. The investor got the first $10k, I got the second $10k and we split everything 50/50 after that. I showed the investor how to create a detailed scope of work that was then used to aquire bids from contractors. I had the investor present whenever subs came to give bids. It allowed him to see how I interacted with them so that he'd be able to do the next one on his own. He learned a lot about the basics of construction and what he should expect as a finished product. We did 1 deal like that and now he's on his own flipping multiple properties at a time. He would either pay subs directly or give me a few thousand here and there to keep the project going. Anytime I needed additional funds, I would send a detailed accounting of how the previous funds were spent including all receipts and we would continue. Structured properly, this can be a great way to learn if you can find the right person. I would set a minimum return to yourself and keep control of your funds at all times. If they have a problem with that, I'd proceed cautiously.