All Forum Posts by: Collin Gibboney

@Account Closed  I'd love to clarify, what particularly do you need clarity on? Deal structure? How to turn a dead lead into a deal? As far as my background, that's a little bit of a loaded question. I'm not sure what you mean. Currently I'm working acquisitions/dispositions full time. As a collective our team has closed probably closed close to 30 creative deals in the past year or so off the top of my head without looking at metrics. I'm not a lender for anyone out of my immediate network. I'm not sure what prompted that question, I don't think I left any indication of that on my post. 

I indicated that I was transparent with my sellers and am starting to run into trouble finding buyers for these deals. I usually don't lock something up unless I have confirmation from the buyer where they need it at AND proper vetting if I havent worked with them before. I'm not entering contracts and not performing with my sellers because, again, I don't want to waste anyone's time or lead them on and not perform. I think holding yourself to a high ethical standard and professionalism in wholesaling is imperative and I personally strive to become a better person and investor everyday. 

Feel free to message me if you would like to connect. 

@Chris Seveney I have definitely heard that before. I think with wholesaling being so appealing to a new investor (because of the low entry cost) a lot of people dive in and with out the experience and either cannot comp the property correctly or get to ambitious in their asking price. Providing value to your seller and buyer, being a problem solver and a professional goes a long way. 

Hey everyone! My name is Collin Gibboney. I specialize in creative finance but do also wholesale. I'm looking to connect with some serious buyers in the Pittsburgh PA market. I've been getting a lot more leads in the area lately. Unfortunately I haven't been able to take a few deals to the finish line because of a lack of a buyers list. I'm not about wasting anyone's time so I thankfully was transparent with the leads that I had to let go and didn't inconvenience them (and creative finance wasn't the answer to their problems, cash was). In my markets that I have solid buyers for this has never been a problem. I had a lot of "buyers" that I talked to ultimately end up being people trying to daisy chain and unable to perform on the properties. Nothing inherently wrong with it but again, I want to do right by the sellers. In good faith I cant just put the future of a major life decision on their end and a deal on my end into the hands of someone I haven't/couldn't vet. I learned early on in creating a buyers list in my other markets that:

1. If they are a buyer, they have a specific buy box. The people who say "Send me everything you got" are 9/10 not legitimate buyers. Example: Bed count minimum, bath count minimum, square foot minimum, Year built minimum, Scope of work they are comfortable with/looking for (Light rehab, full gut etc), Max purchase price, Specific zip codes they are looking for, How fast can they close, How many deals a month they are looking to buy. All questions/answers that have served me well in my experience

2. Proof of funds is no problem for a real buyer and shouldn't be as taboo as it sometimes is made out to be. Again back to good faith. These sellers are making a major life decision and I take that very seriously.

3. Asking what other properties they own in the area is a good, non-confrontational way to vet them as a buyer.

4. What does their business look like? What are their goals? How can YOU best serve them. Do they BRRR, flip, buy and hold. This just speaks more to forming a relationship with your buyer.

If you have any feedback for me please comment and keep the conversation going. Much love.

Who Dares Wins
Collin Gibboney

Thank you Ashley! I will look into that.

Hey BP, I have a question. I have a property I am trying to secure lending for. I went to a local lender and was pre approved but then denied lending because of work history. I started my business in May 2020 and they need two years tax returns for the business. I am wondering if there are any lending options for me or if I am stuck waiting it out. Thank you all in advance.