All Forum Posts by: Chuck Walker

@Jay Hinrichs I appreciate your post and have spreading these thoughts in my area as well. I truly believe 99% of wholesalers are an unnecessary cog in the wheel. D it both comical and troubling to hear wholesalers say they are providing a needed service to particular sellers and solving that sellers problem. Ahhh, I couldn’t disagree more. If you want to truly solve the problem of a seller who is trying to unload an undesirable property, help them find a buyer who will give them a legit price. Oh wait, that’s what a realtor does. Of course, I run into my fair share of unethical realtors and brokers who take kickbacks from wholesalers for funneling traffic their way. But not as often as I am bombarded with ridiculous letters, emails, text, etc from wholesalers either wanting to buy one of my rentals, or sell me a highly overpriced rehab.

I will say this, for as unnecessary to the process a wholesaler is...they continue to find ways to artificially drive up prices and still get rehabber, investors, retail buyers to cut checks. I would have thought we would have hit that breaking point at which wholesalers drove themselves out of business by asking for such inflated prices. I Guess as a collective we’re not there yet. I, on the other hand, hit that mark a couple of years ago.

We are forming a limited space Mastermind Group for those real estate investors dedicated to constant personal and professional growth. Further, this group will work together to achieve ultimate success while providing a service and product to their respective communities. When you attend a Mastermind Meeting, you will not walk into a crowded room of people focused on simply pitching a product, service, or even a property. You will not get lost in the crowd or become just another number on a sign-in sheet or business card on a chair. HOWEVER, You will be surrounded by individuals who find great value in working together, learning from each other, and putting forth the required efforts necessary to growing a real estate business and portfolio.  

At each Mastermind Meeting you will be expected to take an active part in discussions and deliver updates on your goals as well as group goals. Our meetings are deliberate and purposeful which means we are not a group looking to just get out of the house or have a beer. We are group that has a checklist of "To-Do's" that will get done! 

There is no intent to charge any entry fee which is much different compared to what you find from "For Profit" RE groups. In fact, this has intentionally been set up as an invitation only group so that all members are properly vetted to ensure we have a high quality and committed individual in our Mastermind. 

If you are extremely interested in stepping up your real estate investment strategies, have the desire to continually improve your personal and professional growth, and are willing and able to commit to being a crucial part of a dedicated team of successful and goal-driven people...then contact us immediately to learn more and join this Mastermind Group.

   Reply with Interest: 

   [email protected]

Good Morning Mike,

  To what email address can I send you some photos of the property?

 Thanks for your interest,

  Chuck

Don’t miss this great investment opportunity!

225 Wedge Drive

St. Louis, MO 63135

3 Bedroom, 2 Bath

Approx. 1000 sq.ft.

Taxes $1900/year

Rent $900

This fully renovated house features:

- New flooring and baseboard throughout

- Updated bathrooms on main floor and in basement

- Separate Laundry room that leads to large covered deck

- Freshly painted throughout

- Updated HVAC

- Updated Electrical

- 1 car attached garage

- Fenced in yard. No neighbors behind you!

Asking Price: $47,000

ZMAC Property Investments, LLC
Contact: Chuck Walker

Phone: 636-487-7864                   

Email: ZMACrentals@gmail.com

Respond for additional photos

Gentlemen, thank you for your feedback, insights. I thought the package purchase scenario was a likely culprit in a couple of cases. Any thoughts on how to get into that circle of influence and/or crack that code? Is it JV'ing with other sellers to create a package of properties? I have no issues with paying "finders fees" if the right deal comes into play.

  This is the one area that eludes me. 

I'm in the St. Louis market which has been a hot market for awhile now. We see hedge funds, corporate purchase, bulk packages, (you name it, however you want to label it) coming in and picking up various numbers of turn-key rentals. These properties are comps to some that we have put out for purchase but we typically have better rents and/or better prices. However, our properties tend to get passed on by these corporate/hedge fund groups. I'm curious why this is happening. I just saw a house that is slightly smaller and getting less in rent sell for 15k more than one I have available just 2 blocks away (same neighborhood) with a ROI of 18%. That smaller house was sold to a group who is still active in my market. I've done some research and can find no agent attached to the purchases. I even reached out to the company but cannot get a return call.

  I see this happen time and again and I, along with some other investor colleagues of mine, just shake our heads stumped at why it happens. Is this an agent issue in that a buyer has an agent working for them and the agent is cherry picking the properties that will make them (the agent) the best money on the deal? I've been in the market for awhile now and I still don't get it. 

I wouldnt waste time on these sites. There just as hit or miss as any other method. I did the 1 month trial for his cash buyer data feed, contacted hundreds of people on the list repeatedly and got nothing. When I tried to cancel at the end of the month I received a great deal of push back (they were trying to charge me for a full membership) and it got pretty ugly. 

Hi Cody!

  Welcome! I'm also in O'Fallon, MO and always looking to meet fellow BPers and share ideas and stories. Feel free to reach out if you have any questions or want to talk shop.

 We have an awesome rental property available for you to add to your rental portfolio! This property has undergone recent renovations in the last 2 months.

This house has 3 bedrooms and a partially finished basement. Basement is separated into 4 sections...mechanical room, large living space, smaller den space, and bonus room with a walk-in closet.

Recent Renovations on the property;

- Refinished hardwood floors

- New kitchen and bath floors

- New vanity, sink, mirror in the bathroom

- All plumbing to sinks, tub, toilet updated

- New PVC plumbing stack

- All interior walls freshly painted,

- Fenced-in back yard

- House exterior newly painted

- All windows upgraded to vinyl double hung sliders

- Roof less than 10yrs old

- Upgraded AC Condensor

- Nice solid shed in back for tenant to keep lawnmower, etc.

The Numbers:

Purchase =  $37,000 with a quick close

Taxes =         $900 (approx)

Insurance =  $500 (approx)

Prop Mngr = $900 (We can help facilitate management)

Vacancy =      $400 (estimated)
___________________________________
Total Annual Expenses = $2700

Total Annual Rent = $9900

Net Operating Income = $7200

Cash On Cash = 19%

Please Contact Us For Further Information:

Chuck Walker
636-487-7864
[email protected]

Chuck Walker

Certainly, I would want my realtor to get me the highest price for my property. However, I do agree that having a realtor make up lame excuses and lie about if an offer was received or state there is a bidding war when there is not just in to drive up prices is completely unethical. If you are selling a property and want $300k for it, list the house for $300k and let the market respond. If you get an organic bidding war, fantastic! If you get 20 offers below asking and that's it...re-evaluate your price. Honestly, I've never come across a realtor who was 100% in the game for the client. Agents are thinking about their bottom line just as much as an investor, homeowner, home buyer is thinking about their own bottom line.  Further, I fall in line with many other respondents to this post in that I place an expiration on the contract. I don't care if the agent "ignores" the expiration, that's a situation they'll have to take up with their client if no other better offer comes in and I was sitting in the top position. If my offer expires and then I get a call from the agent saying my expired offer was accepted by the seller, I re-evaluate the deal and rarely go back with the same offer. Why? Because it sends up a red flag that perhaps I missed something and I need to look closer at the numbers/etc. This practice of mine in these particular situations has resulted in more purchases than loses. Heck, I've had sellers come back after expiration saying "yes" and when I say "no thanks" to the original offer they start walking back their price trying to find a way to get me on board. 

    Unfortunately, it can become a cat and mouse game when it doesn't need to be one. And, it can absolutely bite the seller and/or agent in the butt if buyers start calling the bluff or balking at the practice.