All Forum Posts by: Curry Forrer

Well two weeks in and Wow how the market is different. Prime example of supply and demand. Closing in on a rental not easy to do with needing enough space for my wife I and our THREE children. Oh good schools, parking, and backyard.

It has been a great experience getting to know the markets and people in them. I'm already looking forward to investing in this market.

After I get somewhere to live.

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Hello fellow B.P members I will be moving to the Alameda CA area and taking a Job in the financial district of S.F. just wanted to throw a pebble in the pond and see if I can start rubbing elbows with some locals and get acclimated to the market. I will be moving from Tampa so big move and any advice or meet up info would be greatly appreciated. Also I will be looking to Rent a Home in the area so any one who has any info on homes in the area please let me know. Ideal situation would be upgrading a rental for a landlord in exchange for discounted rent. Optimistically fingers crossed.

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If I am wholesaling in Florida do I need a brokers license? What are the pros and cons to having a brokers license? And what are the best routes to pursuing a brokers license in Florida?

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Originally posted by @Brent Coombs:

@Curry Forrer, if Comps are from $56k, why would your cash Buyers pay you $52k the Seller will take (plus your fee), when they can just buy at the same price any day of the week through normal listings? Once your Buyers cotton on to your deals not being cheaper than they might get from any Agent, you're out!

Mind you, on the surface of it, those numbers don't sound too bad for buys-to-hold. Ever considered doing THAT? Cheers...

Thanks Brent the reason why my cash investors don't have access to 52k pricing is because this is not a listing this a deal that just formed between the seller and I through networking.

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Originally posted by @John Kent:

@Curry Forrer for a rental property you would also need some measure of return. Income vs expenses. A cap rate, IRR, or cash on cash return. Items like HOA and Flood insurance can kill a rental deal quickly.

Are those comps the same condition as the property in question? If they are in retail condition and the subject is in rental condition then a downward adjustment is needed. The numbers are close enough for this to be a market value deal. The rental rate for this property is $900. What is the expected market value?

Sounds like it would be a pretty good buy an hold deal. Why is he selling it? No way to hold it? Perhaps find a money partner?

@Jay Hinrichs if he goes under contract and sends the information out to his private list that is one thing. Marketing the property publicly is requires both a brokers license (not a salespersons license but a brokers license) and written permission from the titleholders of the property to market the property for sale. Advertising a property that you do not own for sale in a public forum is brokering in FL.

Some people on here are telling every investor to get licensed. I personally believe this is unnecessary. There are enough bad real estate licensees running around we don't need more. There are ways to do the business without risk of breaking the laws and investors should learn how to operate their business accordingly.

People get into wholesaling because they think it is a cheap and simple way to get started, until they figure out that it is rarely cheap and definitely not simple.

Thank You Kent and Jay This info is very helpful. I will run the numbers on market value and repost. The comps are pretty close to the condtion of the property both sold and for sale. The owner wants to cash in on the property to work on another deal in th area he is wanting to get into. He bought the property back in 2009 for 25k put 15k into rehab and has been renting it since. If I put the home under contract my plan was to market it to my cash investors that buy and hold and knowing what I know from you all guess I wont market to the public i.e craigslist etc. I will check with the title company and Florida reals estate association to see where this type issue falls.Thanks again..

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Originally posted by @John Kent:

@Curry Forrer there isn't enough information in your question to give you a useful answer.

There are more parts to a wholesale deal then what you have listed.

Ok so what other info would need to be stated to get a useful answer? Comps are priced between 56k-65k rents are from 900-1100 in the area.

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Thanks Jay I will make sure I am operating with in the state laws.

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Originally posted by @Jay Hinrichs:

@Curry Forrer I think you should be careful In Florida sounds like your brokering without a licenses and the state has been taking serious actions against those folks

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Hello I have property Im looking at the offer is 52k and the renters are long term tenants that pay 900 monthly. No repairs needed. The owner is asking for 2k to go to the title company and he will give me 4 months to wholesale the house to an investor. So what do you all think deal or no deal?

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All Forum Posts by: Curry Forrer

Curry Forrer has started 4 posts and replied 12 times.

Post: Wholesaler from Tampa Florida

Post: Moving To SF Bay area

Post: Moving To SF Bay area

Post: Brokers license needed?

Post: Turn key deal?

Post: Turn key deal?

Post: Turn key deal?

Post: Turn key deal?

Post: Turn key deal?

Post: Turn key deal?