All Forum Posts by: Charles Molluzzo

Welcome @Stacey Tiamfook!  I think those above covered the meetup question but I wanted to welcome you to the area.  

@Russell Brazil @Kevin Leahy thanks for organizing this meetup. I am really excited to attend.

@Tyson Erik Becker, there are frequently threads from newcomers and lots of investor-oriented agents tend to respond to them.  Check out a few and I bet those agents would be able to lend some more practical advice.

Welcome to Bigger Pockets, Romeo.  Wholesaling, Inc., which is a for-profit entity that operates a mentoring program, provides a lot of free videos and podcasts regarding wholesaling.  Some of their content is more helpful than other content, but some of it is very informative if you are trying to learn basics.  You might also want to do a Google search for
"wholesaling building a buyer's list" and you will get various videos, BP threads, and the like regarding that.

Welcome to Bigger Pockets, Tyson.  If you do not mind me asking, why are you taking this approach?  Are you trying to avoid paying a buyer's fee to a broker?  I do not know your circumstances, but if you are working full-time, it seems like it will take you some work without much return (presumably, keeping the 3% buyer's commission for yourself.)  It seems that in many cases, buyers' agents can provide significant value in terms of market knowledge, networking with other agents to help you get a good deal before others beat you out, and the like.  Also, if you go the wholesale route, you will not be saving anything.  

@Alex K., I have been looking to pursue a similar strategy in San Antonio. I think the approach is doable, but I have not yet found a good enough deal to pull the trigger. I think you will find that many of the properties that you could get at around $50K or $60K will require more than $10-$20K in rehab. I cannot help much since I have not yet found a deal myself (and I am happy to be corrected by those more knowledgeable), but it seems like the 70% all in sweet spot for a BRRR in San Antonio is more achievable when the ARV is closer to $160-$180K.

Welcome to Bigger Pockets.  Like any other big city, there are many areas of San Antonio that offer different options, depending on your goals and resources. There are many people here with excellent knowledge of the city, but you should research some neighborhoods on your own, too.  

For a very informative thread, see the following thread begun by John Barr:

How to Understand San Antonio Market 

@Pedro Padierna, welcome to Bigger Pockets.  

There are many people on the forums who invest in San Antonio and who are real estate agents in the city.  If you would like to talk to someone with a great knowledge of the city, I would suggest contacting @Arissa Pedroza. 

@Milla Vesanen, welcome to Bigger Pockets.  As the other posters have alluded to, there are many areas of San Antonio that offer different options, depending on your goals and resources.  There are many people here with excellent knowledge of the city.

For a very informative thread, see the following thread begun by John Barr:

https://www.biggerpockets.com/forums/99/topics/513518-san-antonio-tx-how-to-understand-this-market?highlight_post=3911224&page=1

Welcome to Bigger Pockets!  There is a lot of excellent, free information regarding wholesaling available on Bigger Pockets and elsewhere on the internet, so you should be able to find some good information that way.

As a start, you need to determine what the after repair value ("ARV") is for the complex. You might get some help from a local real estate agent to do that.

Also, how confident are you on $30K rehab number?  Make sure to do your diligence to see what the actual rehab needs will be.

Without knowing more about the location and the property, it is hard to suggest how much the offer should be.  Others around here could give better advice than I could, but it sounds like wholesale offers tend to be 40-60% (maybe a little more) of retail, depending on the condition of the property and other factors.

Also, start looking for cash buyers.  Since this is a small town, you may not get the same interest as you would if the property was in San Antonio proper.  You might want to pay for a pro membership and post the property on the Bigger Pockets Marketplace.  You can also look for local investors and real estate agents that might know investors so that you can market the property.