All Forum Posts by: Dennis McNeely

I'm a real estate broker in Michigan, and a (small-time) real estate investor.

I've been through Joe's course and have begun putting what I learned to use. I haven't taken any deposits to the bank yet (it's only been about a month), but I am seeing the results Joe predicted, and they're happening about when his timeline predicted they would. He discourages deceiving anyone. Instead, he suggests laying out who you are and how you can help, and finding out if the buyer or seller is interested. If they're not, move on to the next. 

He teaches conventional wholesaling (nothing special there), as well as a couple of innovative lease-option techniques that allow working with motivated sellers that wholesalers are unable to accommodate. The techniques are not too complex, just different. 

As mentioned earlier, Joe offers to co-op deals with his students (but doesn't require doing so), effectively putting his money where his mouth is.

In my view, it's worth the time and effort. Obviously your returns will vary based on the time and effort you put into it.

If you do jump in, make sure the folks you contact have a way off your contact list. You'll find wholesalers interested in turning leads they'd normally trash into cash, but you'll also find those that don't want the distraction. Be sure to give them an exit from your marketing messages. No one wants or needs the spam.

A few thoughts Grant -

When the house was torn down, was the foundation left in place? Stated differently, how much rubble needs to be trucked offsite?

When the house was occupied, did it have oil heat? Was the tank buried? There's a chance you'll have to do a bit of remediation.

Beyond those two issues - if the numbers work, go for it! Best of luck -

I'm trying to get up to speed both as a new member of BP and landlord. Thanks for nudging me to take a look into Cozy's benefits. Appreciated.

The seller won't know how many plumbing fixtures the buyer's construction contemplates (translation, they won't know the size of the tile field required), nor will they know the preferred location of the tile field - only the buyer knows their preferred footprint and building orientation. Finally, the seller won't know if the buyer wants to save some particular land feature, tree, etc. Soooo... bottom line is the buyer pays and tests the soils in their desired location, orientation, and size. There are a few exceptions (subdivided land with pre-approved tile field locations for each lot, for example) - but those are the exceptions that prove the rule. 

Good luck with it.

Dennis

Greetings all!

Looking forward to getting better educated here at BP - so you've all got your work cut out ;)

I became a real estate broker here in Michigan, bought a few investment properties locally, then got into land development and construction of residential condominium projects, subdivisions, and apartment complexes - with a commercial project occasionally tossed into the mix. 

Now it's time to pull my broker's license out of moth balls and make something happen - hopefully something good.

Check more out on my profile page ( https://www.biggerpockets.com/users/DennisM59 ), and especially check out my profile picture. It's a 'picture' of what's going on in my mind most days as I careen from one crisis to another =)

It's all good though, and getting better by the day. Beauty!

Dennis