All Forum Posts by: Dell Schlabach

In Ohio and I assume all other states, you have to affiliate with a broker before you can sit for you real estate license. 

Top annoying things on BiggerPockets.....

1. People who use initials instead of their last names

2. Pet profile pictures

Nice work, especially love the bathrom!

Did you sub all or most of the work out? 

Aprox 175k? purchase and rehab, sell 236k, with seller contributions, holding closing and selling costs ... Looks like you will have a nice profit spread!!

Pretty fast turn around cycle.

Congratulations, well done!!

Was this you second flip?

Have any pictures to share.

about as possible as wholesaling off the MLS, its possible but definitely not probable with out a lot of experience, knowledge and solid buyers waiting to buy your deals who don't have time to work the mls....

@Barbara Long  as @Karyn T.  mentioned don't leave, some of us may be a bit harsh at times, but everyone is trying to help out. Your are probably closer then you think to a workable strategy. Some minor tweaking may be all you need to create a great wholesaling/rehabbing business. .

A lot of people will tell you that you cant find deals from the mls and wholesale them to other rehabbers. You need to determine if this is true in your area if thats the game you want to play. In our area it is not true, although plenty of locals tell me that.  If you can find great deals and get them under contract, you can double close on bank owned properties, and stay legal that way, or as @j Scott mentioned get your real estate license.  I am doing that right now to have better control over deals and tap into the commissions on the buy side as well.  

You mentioned, just rehabbing the deals. If wholesaling is your first choice, why not try wholesaling all your deals and just rehab if you cant sell them.  That is what we do with many of our deals, some of the best deals we keep for ourselves, but I I don't buy any deals that I would not rehab myself.  

Wholesaling is a significant portion of our business and one that we will will be pushing a lot more this year. We have had seven mls offers accepted since January and we wholesaled five of them to other full time rehabbers who know their game very well. It is not as impossible as some would have you believe, at least not in NE Ohio, and I assume there are many other places that it is possible as well if you learn to play the game well.

Good luck in your real estate adventures. 

@Dale Burnside welcome to BP

Congratulations in surviving the downturn by adopting new strategies.

Two of the most successful rehabbers that I know locally, are former framers who ran new construction crews during the boom years. 

Welcome to BP, Awesome site, lot of great people sharing valuable insights with each other. 

@Barbara Long 

sorry but that seems a bit confusing and convoluted, we buy a lot of houses and if someone told me all that without me being able to at least run the address and comps on the house I would not call back either. 

Why would I want to sign a contract with a finders fee before I saw the property? seems like a waste of time for both you and your potential buyer. 

Are you trying to sell off market houses you have under contract, or houses off the mls that are not under contract, ...or  why the realtor involvement? 

I wholesale about two houses a month as well as we rehab as well,  I have never made it this complicated for anyone to buy from me, apparently your mentor told you to do it this way, dont know why, 

If you have good deals, thats more than most people, now you just have to figure out how to get them sold, you will work it out if you presist. 

@Nancy Roth 

We add decks or patios to all the rehabs that lend themselves to such. We do a lot of split level home rehabs. In the dining room just off the kitchen I would say half of them have a slider to a patio, the ones that dont, we will remove the window in the dining room, cut a bigger hole in the wall and install a slider to the new deck we build. 

I dont have a way of knowing if it adds significant value. My take is if half of the homes in the neighborhood have them, I don't want to be the one without. I like decks, well prefer patios, but decks are much cheaper to build for me. Todays lifestyles with outdoor living spaces being being all the rage, I consider them important in most cases. 

@Nancy Roth 

 We had a awkward one recently, where adding a door to the deck from the kitchen seemed essential. Had a similar issue with banging the door against people sitting at the bar.  To to solve it, we used an outswing door. That may solve one aspect of the dilemma. .