All Forum Posts by: Curtis Rouse Jr

@Account Closed

As Corby mentioned, regardless if we are in a hot, cold or stagnant market there are always deals to be found you  just have to get very creative as you mentioned in this seller's market we are in. This means either more capital being deployed for marketing, more hustle if you have time, more networking needed to partner and more potential deals needed in your funnel. Long story short, just more of everything and you will eventually find a deal :). I hope this helps and Best of Luck!!!

@Carl Hall

Welcome to BP!!! Glad to hear you are working towards the MFR space and sounds like you are headed in the right direction. To answer your question about where to finding a good partner for appointments/meetings, right here on BP is a great place as I have found many partners over the years and also your local REIA's are great. It really comes down to your target location and as you mentioned earlier, with technology nowadays it has become even easier. I have been doing some wholesaling, mostly in Middle GA where I invest and up in Lawrenceville where I stay, so I'm always looking for partners if interested just send me a PM. Best of Luck!!!

@Karl D. Gardner

Welcome to BP!!! I would recommend pulling list from sources like ListSource and myreipro are a good website for sourcing leads as well. Just remember, we are in a seller markets so deal are a lot tougher to source so you have to remember to stay consistent with your marketing and to always follow up follow up follow up. And did I say follow up :). Let me know if you have any other questions and Best of Luck!!!

@Jacob Bassett

Yes, I see these all over the place and honestly with technology and everything online, I would advise against these sales programs that you see on bandit signs. Don't get me wrong, mentor programs are great and I have been apart of 2, which has really helped me scale, but initially it was all BP and YouTube education which is "Free" of charge and a great place to start. With so many different avenues to travel in the business of real estate, it comes down to you researching and ultimately discovering what path works best for you and your long term goals. I hope this helps and Best of Luck!!!

@Dante Foreman

The main factors we need to know is the ARV, Rehab cost and your desired return/commission on this deal. I always run numbers very conservative so worst comps (provided by my realtor) and highest rehab costs (minimum of 5 detailed quotes) will be a good starting point for your deal. I hope this helps and Best of Luck!!!

@Christopher Vincent

Welcome to BP!!! As others have mentioned, I would definitely go the MFR route because in real estate the most important factor is the number of units/doors because you can scale a lot faster and particularly with the MFR you can force the appreciation. I hope this helps and Best of Luck!!!

@Jacob McAllister

Welcome to BP!!! So ideally when wholesaling you would like to get to the owners prior to the short sale so you won't have to deal with the banks. When dealing with the banks, they most likely won't take an assignable agreement, so you will need to locate a buyer and by good faith hopefully they will pay you a commission since you will have no equitable right to the property. You can also close on the property and rehab/sell if you feel like this is a good enough deal. I hope this helps and Best of Luck!!!

@Xavier Mahoney

Welcome to BP!!! So as @Jason D. mentioned and in my experience, the banks won't accept an assignable contract and with it being a smaller deal with I'm guessing not as much equity once factoring in rehab, it doesn't make sense for a double close either. I would partner with someone who has to money and offer up your time to either sell or this could be a good BRRRR property who knows. I hope this helps and Best of Luck!!!

@Emmanuel Lane

Welcome to BP!!! I would recommend attending local REIA's and also a good tactic if you would like to start your own Property Management business is to pull a list of absentee owners in your target areas and basically cold call them to get interest. I would target owners 55 and up as they are getting ready or already in retirement so more prone to off load some of their responsibilities to a third party. I hope this helps and Best of Luck!!!

@Skyler Flintall

The others have provided great feedback to your questions regarding Cap Rates and the NOI. I would also like to add a critical point is not to EVER purchase a property based on the Cap Rate along. You need to be looking at the cashflow (net out financing) that the property yields and more importanly the exit and if you can ultimately increase the NOI (increase income, lower expenses, better financing) that accelerates wealth building. If you ever need help underwriting anything from a smaller Single Family to a larger multi million dollar Apartment Community, I've built a financial model (example on my website) I help investors free of charge if you ever need any assistance. Best of Luck and yeah, welcome to BP!!!!