All Forum Posts by: Dale Foster II

@Kevin Wood Thanks wife and I been relying on the Flipster System and haven't made much traction. We'll try that sight for sure. In your opinion is Pop stream a good investment? We got introduced through a J/V partner we been using Flipster. Thanks in Advance

Thank you Hunter we kind of had a feeling that this might not be the best deal but like I told my wife and our JV partner I wanted to hear it from the professionals. Hoping that someone might see something that we missed or that they might know something that we don't know yet and can teach us a better way to Analyze This. I see the growth in the area and I guess emotionally I have hope that a property like this would only grow in value. Again thank you for your Insight definitely helpful

But you really dont think a few solid investors that this would cash flow enough? Been listening to the podcast religiously from the first I am on 187 now and I keep hearing some of a deal is better than no deal. Not saying that this is a deal, I was just hoping that this would be some type of cashflow

@Greg, We think she knows we're newer to the investment game and she's wanting the higher buy price to pay her owed tax debts before it hits the county tax sale. Rents are lower in that area, we thought more along the Air B-n-B route for better cash flow.. Knowing this is more the lying term buy

So my JV partner calls me with a 2.3 million dollar Buy and Hold investment on an 8 Plex. Little to no renovations needed. This 8 Plex is in a growing area, the owner still lives in one of the units. She bought this 8 Plex in the mid-70s but has no desire to sell to a white man. My JV partner is black and mixed with Mexican. So the seller only wants to work with her. I don't have an issue with this because I know the cash flow is greater than the racial barrier. However my huge hurdle my business is just getting started and I have zero capital. My personal credit is shot, my business credit is great and growing. I know know Bank whatever gives me 2.3 million but is there a way to add 1/2 or a few investors that are willing to teach myself in my partner while taking a larger cut? I guess my biggest question what would be the best angle?

She wants to live there for another year, but understands if she has to leave earlier. She told my JV partner she does not want to sell to anybody except her that she really wants her to have this property. Her intentions is to move to Mexico for medical reasons. I've tried creative finance and she agreed to 1.6 mil down seller finance the rest but again thats got more coma's than my current bank account..

We are kind of lost on where to find the proper investors to make this deal happen even as a wholesale if that's the route we need to go. I told her I would post on this site knowing this is where most of the big shots / sharks are. Any advice is appreciated

2011 Binz St Houston Texas is address, I'm not worried about someone thinking they're going to steal a deal because she is pretty adamant I'm not selling to anyone aside for my JV partner I put the address to help look it up if you're want to see the building.

Added lady hasn't paid taxes since 2003 and claims she turned down $1.9 million offer already... She wants $5k Non Refund EMD to sign Contract, Is this one of those Run far away deals?

$1200 Dollar Mistake....My first deal... I don't know how I ran the #'s so wrong but I was off by $100k on comps after giving $1k EMD and $200 to the seller... I sent this "Deal" to multiple buyers only to have another eay more experienced Wholesaler run the #'s and find my mistake 15 days After signing the contract...I was WAY OFF and locked into the deal way overpriced.. I'm sure the realtor knew but also knew I was inexperienced, probably why she added the $1k EMD paid within 3days... I failed myself but learnt to not only run the #'s multiple times but to use my own contracts that are less confusing...

Thanks Aaron I never thought of key words, and I totally forgot the city.🤦‍♂️ A lot of the buyers I've talked to want the north side of Houston its the higher rents and higher sale prices ARV. The areas I'm focusing on are geared towards blue collar workers. These refineries are all doing multimillion dollar expansions for the next 10+ yrs. With 500k construction workers Expected in the next 3+ years I'd think they'd fall in line with the areas around the plants. 🤷‍♂️ I appreciate your feedback..

Thanks @Mark Sewell that's a new one for me as well...

I've heard all the same things...Need 10%, need previous deals, need to be JV'd, ask relative for money..

Some of us don't have family with money to lend. Building this business from scratch, I only wanted to be a wholesaler  to gaib capital. I signed my first contract and keep getting this very statement.

Goldmine bro, not my Zipcode but #'s are good you'll find a buyer.

I personally want to flip it, there's a lot of money on the table to wholesale it. 

Problem is I can't find Funding...Does any company truly fund the whole deal 100% without a bunvh of stipulations?

i personally wouldn't mind paying Higher interest just to gain Credibility for future deals. Seems like the stipulations keep so many from completing deals without jumping through hoops.

Glad to be apart of this group of Pro's I been listening to BP Podcast daily on #133 started from beginning.

Looking forward to future business, I'll gladly send anyone my listing to give constructive Criticism. Would love to know where I'm failing 

Thanks in Advance for any insight 

I'm new to this, wholesaling to gain some capital..All these lenders want previous flips or 10% down

I have neither 😥 I have my first contract and used all the recommended formulas but keep getting the same reply.. They all want special Zipcodes..

This is email I sent to buyers with no feedback if I'm wrong or off on #'s.. Some info wouldn't copy/paste. I do use the Jerry Norton's Flippster System..

*Asking $117k*Assignment fee is added to price***Don't be afraid to submit your best reasonable Offer***
Physical Address...

Highlands, TX 77562

*4 Bed / 2 Bath / With Attached Garage / 2266 SqFT*Sitting on .60 Acres Fenced Lot*Heavy Rehab Needed $40-55k*Physical A/C unit unknown, hidden behind overgrowth. House has Duct work set up for Central A/C as seen in pictures*Roof in need of repairs and/or full replacement*According to owners and neighbors, property was considered a "no flood zone" and did not flood during Harvey *Flooring in need of repair throughout *No major foundation issues upon personal assessment

i have a web sight attatched to my BP profile..