All Forum Posts by: Cody Evans

 @Roland Craeye

I think a flat rate based on the deal is a better way to go about it. What if you say 1% on that house and you could have gotten 10%? Or what if you lose a deal because 1% is ridiculously high for a certain property?

I am also wholesaling and trying to find a plex. The finders fee is up to you. What are you willing to work for? The more meat you leave in the table after negotiation the more you get. You should have multiple buyers do a bid unless one really helps you figure out a deal. I say 10k is good but others settle for less or refuse unless they get more.

Keep crushin it! My only question is how did you find such a mentor? 

Hi Guys and Gals, 

I keep revisiting this topic and am trying to find the best mechanism to get a deal like the one I describe below:

I live in Northern California and want to move into a multiplex for my first property. I figure I can make a profit off of the place I live in which eliminates my biggest personal finance expense amd actually makes it an assett. I figure I can fix issues myself on the property to save some money and also get to know exactly what my tenants are doing. Then if I eventually get tired of living there I can just get a new home and rent out the unit. Sounds simple right? But what is the best way to find these and get a deal off them? I am wholesaling right now and it is so hard to get leads and deals so I am puzzled as to what I can do here

Hi Joe, 

I havent seen anyone reply yet so I will help the best I can. What jumps out to me is the expense estimation. My first thought is if you have a tenant and you pay for the heating or electricity  or water there is no incentive to not use all those 24/7. Is there a limit in the lease as to how much you will pay for all these?

That is a sure way to make people angry and ruin a reputation which with this type of strategy seems like that would happen quickly because why not tie up every property on the MLS or that you see?! I am just starting out but running numbers before tying up a property(or at least attempting to) has never been an issue. I do my due diligence and make the numbers conservative and ask a fellow experienced investor (or bigger pockets) if the deal makes sense and based off the feedback I will adjust or keep my numbers. I then submit an offer. This can all be done easily within 12 hours if not sooner. I am doing residential and am young with more time than money so perhaps thats a disclaimer but running numbers seriously should take like 10 minutes after you have estimated repairs.

Hi Brian,

I am going through the same struggle. I have been hearing that a big part of it is that we are in a sellers market and there arent enough deals to go around at the moment so everything is highly competitive. I am still chugging along as well.

 Best of luck

I think Ari makes a good point.

Matt, I think the new rules force people to take 3 college classes now which can be time consuming and expensive. What do you know about this since I am looking into the same issue of getting a license here in Cali

Hi Chris,

I am skeptical of turnkeys because of the advice I have been given from others. You are basically paying people to rehab a property for you and sell it to you at a high price which isn't the best for ROI plus you do not get the experience of fixing up the property yourself. You may want to contact investors and realtors in the area you want to invest in so you can talk to them about finding good deals and get help managing them.

Hi Marvin, 

thank you very much and that story is very encouraging. My plan is to do what you are doing in residential and then see if the move into commercial is feasible. Since you are ahead of me in getting your license would you mind if I pm you every once in awhile to see how things are going for you? 

@Dawn Brenengen

That is great and finding people with a schedule like that will be easier for me since I work in the school district. Thank you very much.