All Forum Posts by: Brian L.

my understanding is that landlords typically pay well above 70% ARV. Lots of factors to consider, but I know my unit in NJ can be moved in a heartbeat at 80% ARV. Depends in cash flow. I have buyers 3 deep at a 13% cash on cash return for rentals.

I'm pissed off. One of the deals that I had a verbal price agreement on hit a huge snag. Seller is absentee landlord who is motivated. She was very concerned about having buyers come through and scare her tenants. She was offering one showing. So, I gave her an option of:

1. Allow me to show a limited number of times. Five to be exact.

OR

2. Keep it at one showing and give me a 30k price reduction.

Either way, i could move this and easily make 20k. I was convinced she would just give me 5 showings. What did she do? She put it on Craigslist for much more than she was gonna sell it to me for. At the price she is listing it on CL, it is about a 7% cash on cash return. No doubt she will get people looking at it, but will likely take many showings to get it done and likely not at her listed price.

This sucks.

Been very busy on the phone... Geesh, who has time for BP? :)

Here's where I am:

-2 deals that have hit snags. Trying to resolve both. Will post more details when I can.

-2 more promising potential deals I am trying to get under contract.

Right now, I am running into an issue in which I may need to be in London for all of September for my day job.

@chris clothier, you my friend, are a class act.

Where are they getting the info from? It has to be public sources, and if so, you are probably paying for the neat package.

Obviously, with all due respect to Chris and Kent. It may very well be worth the money.

If you don't have the time or can put in the effort to find the information here, then it very well may be worth it.

I'm sure it probably may be a good system. Have no idea how much it costs. That said, I doubt it has more information than the collective knowledge and mentoring available on BP.

My experience with these types of programs is that you end up paying for it being in a neat little package. Content wise, it probably doesn't tell you anything different that is in these forums.

I've spent relatively little on courses, but those that I have, I've kicked myself because much better info exists here.

My advice is to read voraciously here and save the money for marketing.

Many newbie wholesalers in this market build their buyers list first. I don't get that strategy as there aren't that many good deals around. If you have a deal, there WILL be a buyer. Not to mention that if you lock a deal up and can't sell it, the worst thing that happens is that you don't sell it. You have no downside.

Lock it up, get it done and come back here and gloat! :)

Good luck!

Thanks Tim. Seller is awfully demanding now that we agreed on price.

Get it under contract now and figure out your buyer later. If the numbers are remotely close to what you showed, this could be a big payday.

Even selling the house @ 55% ARV less 150k in repairs is a $150k payday for you. I would think you can get a deal like that done easily.