All Forum Posts by: Dan Green

Hello BP family! I am starting to wholesale here in tampa Florida and i currently have two deals under contract. I want to knoe more about the 70% percent rule so i can make sure my numbers are including everything. So i have a property with an ARV of 155k with Estimated repair cost to be 70k so using the 70% rule . 155,000 X .70 = 108,000 - 70,000=38,500 MPP . My asking price was 30k and thats including my fee. Ive only showed it to two investors and they keep saying subtract holding cost closing cost and realtor fees. I didnt and dont think this is right but im still new so thats why im bringing the problem to you guys.

I have a piece of property under contract that has the potential to be a great flip! 

 Arv 180k

Remodel 80k

Asking price 45k

Lot size 6,721 sqft 

House size 1,125 sqft 

Year built 

3/2 

Here is a brief list of things it's going to need 

Roof 10k

Hvac 5k

Plumbing 5k

Electric 5k

Miscellaneous 20k 

Material & labor 35k 

Also we have the architect blueprint. 

If you are interested and want to know more please don't hesitate to contact me.

Hey BP family! Im brand new to the tampa area and don't know jack squat... YET lol. Now that that's out of the way... Ive been here for about a week and a half and Im a licensed realtor but i want to focus more on the investment side for now. I want to wholesale a few properties to  build up some capital so I can start flipping on my own. I would really like to network with an investor friendly agent or any investors who can drop a few gems of knowledge on me about the tampa area.  

I have a list of clear and off record properties that im looking to wholesale,  but every time i look one up on my county appraiser website it states the last sales date as being 11/2016 or 10/2016 . Is this a bad list? I ask that because to me it seems it would be pointless to mail out to an owner who just bought the property last month. They obviously bought it to make something. Am i looking at this wrong? Please help all inputs are welcome 

John Thedford believe me want to but I don't have the cash yet that's why I'm trying to wholesale, to build some capital

Stephen Anderson there are about 500 or more houses so all of there needs varies. They all have good equity in them supposedly and I'm not investing any of my cash that's why I'm wholesaling them

Hey BP family, I could really use your help! So I'm a licensed realtor here in Florida and I just moved down to Tampa Fl from pensacola Fl a few days ago. I like being a realtor but I really want to get into the investing side, which was my main reason for moving. I want to start wholesaling and I know what to do for the most part but I just need a littler more details on the steps. I have a list of off market homes that are clear of judgements liens etc. along with the owners address. I also have some letter samples to send to the owners. But... what now???? Do I just start mailing to everyone on the list( well over 100) or do I need to do more research on the properties and choose a few to start with?? All advice is welcome. Thanks in advance

Paki Judson Nice to meet you and thanks for replying. Have any tips for a newbie to Re Investing?

Any investors In Jacksonville Florida? Looking for some input on Jacksonville's market. Is it more of a buying market or renting market? Any input on Jacksonville will be greatly appreciated. Thanks in advance!

Thank you @chris also when I am putting the property under contract do I need a special contract or can I just use a regular residential sale and purchase contract?