All Forum Posts by: Brian Pulaski

It needs a total gut rehab? How much would you have into it? I assume multi family if rents are $4000/month.

Not accurately. I guarantee there will be much more wrong that you don’t see.

I personally wouldn’t offer on a house I couldn’t walk and feel comfortable if it’s condition.

 I guarantee you someone taking photos and video will miss stuff and most likely expensive stuff. If I wanted to I could photograph/video a house and “miss” $20,000 worth of issues. No matter who someone works with, it’s the investors money at stake and I don’t blame them one bit in wanting to see it. Personally I’m not buying a house I can’t walk through either.

@Quincy Williams so basically don’t tell your potential buyer what you are asking for the house? I wouldn’t go look at a house without knowing the asking price... that would be a waste of everyone’s time.

Also your other ways to get around it are ripe for tripping over all the lies your telling. If the deal is good, you should have a few buyer options. If this one investor ghosts you move to the next. If someone wants you out of the deal, they will find a way.

Guess I don't understand. The ARV is independent of the closing costs and commissions. Closing costs and commissions are mostly determined by the ARV (or at least the sold price). How could the ARV be determined (I read that as changed, etc) by closing costs and commissions?

 You seem to be hung up on someone stealing this deal from you... from what you posted no one stole anything, you took your time, did some due diligence and someone else came in and got the house under contract.

With that said it sounds like your plan was to rent it out as a room by room verse a SFH rental. Is that legal to do in your area? What does a SFH 4 bedroom rent for? $900-1300/month cash flow for a SFH seems really high.

No one “swooped in”, if you didn’t make an acceptable offer and went under contract, then anyone else is able to make an offer.

There isn’t anywhere you can check who made an offer... until it sold.

If this one house/property (unsure if it’s a single family or multi) would have made you $900-1300/month in cash flow, you probably shouldn’t have waited and made your offer/gone under contract ASAP.

I’m not a mason or structural engineer but that cracking wouldn’t worry me. 

I rarely is ever see wholesalers who do this. The majority (not all) are new to REI and have no money. They can't guarantee anything. Most offer $0-100 EMD, not $5000 (just look through forum posts on the subject).

The larger outfits probably can, but I see more people discussing clauses to get out of wholesale deals, than ways to close if they can’t find a buyer.

I’m not saying everyone should go realtor verse wholesaler, as it seems most wholesale deals the seller wasn’t even a seller until contacted, and that to me is where the wholesaler stands out (marketing to potential leads). I just don’t agree the wholesaler “will” sell the house in instances a realtor won’t. In the market we are in, deals get tons of offers from flippers/buy and holders.

As a cash buyer, I get the deals from wholesalers and the MLS. If Charlie listed on the MLS and a wholesaler sent it to me, I would close in the exact same amount of time. There is no magic the wholesaler brings to the deal. It's the end buyer that closes fast, and those end buyers also scour the MLS, or even better work with agents and close deals that way.