All Forum Posts by: Chris Music

Kathryn, sounds like you are putting in the effort, that's awesome! Working with agents is a hard way to find properties especially for a wholesaler since there is so much competition for anything on the MLS. Finding off-market projects is going to be where you can get your strongest spreads. Direct mail and bandit signs are two great strategies, both of which I use. I would suggest reaching out to your network, make sure everyone you know, knows you buy houses and that you'll pay them a referral fee if they bring you something good. I am an active buyer in the areas you are searching in, send me an email so we can link up, I'll let you know what I am looking for.

Thank you all for the feedback!

I am looking for a Buyer's perspective. I am thinking of wholesaling this contract and want to know what a landlord would pay. If it's not much more than I would pay, I'll just flip it myself. 

Zip 95842

Sqft 912

Lot 5,227

Single car garage

It was a flip, every thing was upgraded. Kitchen, bath, paint, floors, windows, water heater, HVAC, etc. Not looking for an exact amount, just a general idea as to what would make this a solid rental. 

Calling all Buy & Hold Investors in the Sacramento area. I am working with a private seller and would like to get feedback on a good purchase price for a rental property. It is a 3/1 that was remodeled in 2009 right before the current owner purchased it (owner-occupied). Average rent in the area is $1,250. As a landlord you wouldn't have to due much if anything in regards to rehab upon purchase since it was updated in 2009 and the owner has maintained the house. ARV for a newly rehabbed home like this one is 190K, so this one would probably go for 175-180K on the open market to an owner occupent. Given the rent and condition what purchase price would make this an attractive addition to your portfolio?

Quick reminder: 

Wednesday February 24th is our next Solano County Happy Hour

Chevy's: 157 Plaza Drive, Vallejo, CA

Calling all Solano County fix & flip investors, buy & hold investors, rehabbers, landlords, wholesalers, realtors, lenders, contractors, etc.

Vallejo, Fairfield, Vacaville, Suisun, Benicia, Dixon.

Catherine, 

Welcome to BP and wholesaling! By adding that clause and signing "and/or assigns" you aren't doing anything illegal but they are definitely red flags for the seller and agent. As an active flipper and wholesaler I would recommend you focus on finding off-market deals and using a shorter personal contract that clearly outlines your right to assign the contract. Everything is disclosed and easy for the seller to understand. By finding the house through your own efforts you are adding value and deserve to be compensated for that. Going on MLS and submitting a bunch of offers on houses everyone else can see isn't really a value add in my opinion. Shoot me an email, I'll send you the contract I use.

Our January happy hour was a blast so we are going to do it again, come join the fun! We all know real estate is a very relationship driven industry. Come out and meet other people like you that are interested in the Solano County Real Estate Market. This will not be a sales session, just good food, drink and conversation.

Wednesday, January 20th at 6:30pm

Chevy's: 157 Plaza Drive, Vallejo, CA

Calling all Solano County fix & flip investors, buy & hold investors, rehabbers, landlords, wholesalers, realtors, lenders, contractors, etc.

Vallejo, Fairfield, Vacaville, Suisun, Benicia, Dixon.

I look forward to meeting you all!

Congrats, sounds like you finished 2015 strong and will continue to do more in 2016. Welcome to BP!