All Forum Posts by: Harry K.

@Brian, What I mean by Good Wholesaler someone who has done his/her homework, gives you good rehab numbers I know it is hard to be exact, but close, example, I met a wholesalers at local group investment group, not knowing he has been doing this for only 2 months, i agreed to see the property, Asking $179,000 with 20k rehab and ARV $240K. When I saw the property it needed at leat 38-40K in rehab. You are talking about new roof, new floors and re do new baths , new flooring. When I asked how he came up with this 20K rehab number. He said he had not even been in this house, and he has no idea how come up with rehab,Finally admitted he has been in business only 6 weeks & that listing was not even from his office. PEOPLE like his are not doing justice to investor, to me that is example of a Not a good wholesaler.

@Ibrahim S , I might be new to Orlando area flipping, but certainly not new to investments. Finally, I met wholesaler who is 10 year Veteran, within 2 months I purchased 2 properties from him which currently I am rehabbing them . Paid Cash, clothes within 10 days on both properties. SO I think I have proven myself to him, but we need more wholesalers /properties. if other veteran wholesaler wont take chance someone like me, I think he/she is missing out on a good reliable investor. At this point we are so frustrated, my wife & I decided to get her real estate license, she takes her exam next week, so we can do all our research and write our own offers. I will still be loyal to my wholesaler when he brings me right deal.

@Jon, my apologies still learning to navigate this forum.

How do you find a Good wholesaler?

Matt, great story, we are it worked out for for you so well, I am in a need of contractor, if you dont mind sharing his name please pm me. Thanks, I work Orlando area also.

@Natalia.B, What do you mean by board?

@NATE S I agree, it is impossible to get accurate estimate, but you can come within 10% of rehab cost. Example if 1500sf roof needs to be replaced you know in your area it will cost you $200-225 square you are taking about close to 5-6K, but as a wholesaler you show as re shingle in rehab estimate @cost of $1500, that is not doing justice to investor, I have seen 20 properties in last 2 months ,I purchased 2 of them both of them are going to run $10K more than their estimate, luckily both properties are in excellent areas , I will still make my margin, keep in mind I am also new as investor in Orlando Florida, , in Alaska we had several properties buy and hold , so I am learning too. I will highly recommend you reading "The Book on Estimating Rehab Costs" By J Scott. you can buy it on this site , it's worth every penny and more. Now, I make sure I take GC with me pay him $100 for hour of his time.

@Brandon.C, I understand wholesalers have to cater to all kind of buyers, my problem is most of them, not all. They have no experience, they are picking rehab cost out of thin air, and going out to 2-3 miles to support the ARV. I don't have problem with if it is a buy and hold deal , but numbers have to make sense.

We aee new to BP, we had properties in Anchorage, Alaska. Buy and hold. Now we are in Orlando , Florida. Within two months of joining local investor group we already have 2 properties we are rehabbing currently. So much to learn, you are at right place. Welcome. Good luck

WE are new to BP also, we are learning too. So much information, not enough time.

Welcome!!

Welcome to BP, we are new to site also, but learning a lot, we were fortunate to find this site.
Good luck.