All Forum Posts by: Dae’Leon Flucas

Good Morning BiggerPockets, I am new to wholesaling and I have finally got my first deal under contract. I’m having trouble finding a cash buyer to close the deal. Are there any experienced wholesalers or investors that could give me advice on how you found reliable cash buyers near you?

Are there any experienced virtual wholesalers that can break down the process assignment to closing aspect of the deal?

@Joel Thompson I’m looking all over the country at the moment. I would like to find commercial properties outside of California, so I am very much interested.

@Charles Soper I’ll definitely take the initiative to start building those relationships. Thank you for taking the time to help out.

@Charles Soper Do you still do business with the same Lendor, how did that work out for you?

@Charles Soper Thank you I will definitely look into that. What are ways I can establish those relationships without a deal in place currently? Would it seem like I’m just another person wasting their time if I call in without actual business?

@Joel Thompson thank you for the recommendation, I’ll give it a read I’m looking to get all the help and knowledge that I can.

@Joel Thompson the 15% would have been hard money but it was also just a worse case scenario estimate.

@Charles Soper Thank you for your response. The question was about 5 units in the same complex for sale. And the 15% interest was just an absolute worse case since this would be my first rental property and I would also most likely be funded by a hard money lender.

I have found 5 multi family properties in the same complex, if I were to bundle the units and purchase them at asking price(not likely to happen) it would cost $450,000. The net profit yearly would be in the 110-130K range. Closer to 130 bases on the local property value. After running the numbers I would profit about 1600 a month while paying off a 15% interest loan and upkeep. Am I missing something? And what are my options for going about funding this deal?