All Forum Posts by: Charlene Blandon

As a wholesaler what should I put under sales price? It asks for cash to be paid and amount to be financed. Im wholesaling so I dont know what buyer will do (assuming buyer is found)

Congrats!!

@Edward Burns

Thanks. I have rental properties myself and I try not to buy above a 70% ARV. Mainly because I use hard money lenders and dont have a lot of cash. And most rei groups teach the 70% ARV rule. I think this deal could work for someone who has the cash and is looking to buy and hold for cash flow. I just dont want to tie up the house or get the homeowners hopes up if Im wrong.

House is a 2/1 1940. Homeowner wants $25k. There is only 1 recent comp. also for around $25k. House has recent upgrades to kitchen and bathroom. Also has recent siding. It will need foundation repairs, paint, carpet, and tile in kitchen. Rent rates from $650-$750. As a wholesaler, should I put an offer in? I think it could be a good investment property but won’t meet the 70% ARV most investors are looking for.

Thoughts?

I had a similar experience. We agreed to price, scope and timing up front then he would do things we didn't agree to (instead of focusing on those things in scope) and of course wanted to charge me. I've learned to let go of my contractors as soon as it's clear it's not going to work out. I think sometimes we're hesitant to "fire" someone but the longer you wait the more of a headache it will become.

Does this mean the house was refinanced? For example:

Owner - Effective Date

Doe, John - 1/1/2009

Doe, John A - 1/1/1988

Hi! My name is Charlene. I started investing in real estate in January. I have two SFH bringing in about $800 a month. I'm looking to get into wholesaling so that I can continue to build by rental portfolio. Hence me finding BiggerPockets. I know a lot of investors start in wholesaling but I never wanted to. It is more scary to me than buying, rehabbing and holding. But I enjoy investing and want to continue and the only way I see that happening is building seed money through wholesaling. I've already started to market. I've talked to two homeowners. I've read it takes about 30 conversations to close a deal so I keep telling myself I'm 28 calls with homeowners away!! I've actually received multiple calls but that don't all leave a message or return my calls.

I'm really hoping I can be successful at this.

Actually I have another question @Braden C. when is the title generally checked on a wholesale lead?

Thanks for all the good advice. Im going to see if I can take a look at the current contract and proceed from there.

Hi all, I started investing in January. I have to SFH rentals. Looking to get into wholesaling for seed money. Anyway, I sent some DM letters and received a response from a home owner. After discussing price and condition he mentioned he already has a contract on the house. Hesaid its been about 2 months. How should I proceed? Iwas thinking of just following up in a few weeks to see how things are progressing. Any advice?