All Forum Posts by: Destin E. Thomas

 Hey Jerryll,

Apologies as well, to clarify my post, the property is currently still with the owner (off-market) and I reference the information on the MLS since it is the information that's currently available to the public, so just providing a frame of reference to support the info in my post. And I totally agree, providing the best value is key and I know that's what would eventually "win" the deal for me at the end of the day. I have a few (legal) marketing ideas I haven't seen any other wholesalers use just yet that I think will help give me an upper-hand making it a win-win-win for all involved, but I'm glad we're on the same page because I want to do this right. Thanks man!

 Hey Max,

Thanks for the insight! That's a very good point taking the potential further value decrease into consideration (like when running the ARV for pricing it out to the end-buyer), so it makes sense that, like you said, it would have to be a great deal. Considering the owner is currently distressed (not wanting to spend more to fix it up for listing on the MLS), I may be able to make it work at a reasonable price point. Much appreciated Max! You gave me a lot to think about.

 Hi Jonathan, 

To clarify my post, the property is currently still with the owner (off-market) and I reference the information on the MLS since it is the information that's currently available to the public, so just providing a frame of reference to support the info in my post. Aside from that, once I was to get it under contract for assignment, just looking for any potential roadblocks or anything like that just in case while I proceed with the process. Thanks!

Hi!

I have a potential wholesale deal out in Colorado Springs and it'll be my first one, so I'm looking to pick someone's brain who has done a wholesale deal in Colorado before, what title company you've used and trust, and any potential buyers! 

MLS has it as a single family residence, 3 bedroom, 1.5 baths (actually has 2.5 baths), approx 1500+ sqft, 9k+ lot size, 2 car garage, back yard.

Needs more cosmetic work than major rehab, and roof was recently replaced. Finished basement as well with additional room (and has the additional bathroom). Still gathering additional details, but looking to have it under contract within the month. Any guidance is greatly appreciated! 

Hi Casey Caton, absolutely! I've already got the ad out there under multiple listings, but I will definitely disclose that during showings and with future rentals that end up going thru the same thing (hopefully not too many!), but I really like that idea and at least I won't lose too much sleep over it going forward. Lesson well-learned for my first go at this haha. Wish me luck and thanks again!

Hi JD Martin, you make some very valid points, and I agree I do have to compensate with my expectations especially with regard to the rent amount. I'll definitely be incorporating that going forward and taking the revenue hit, so even if it means less green over time, it'll definitely be worth it to avoid the headaches. Wish me luck and hopefully I'll be able to bring someone in soon!

Hi Scott Mac, thank you for the 2 cents for sure! I haven't gone with the goodie-bag idea just yet, just an idea that I was bouncing around, but you definitely bring up some good points. I did ask a cop buddy of mine and he suggested the same thing you did about talking to the PD and getting some info there. I'll be looking to do that soon, so I'll keep you all posted with everything, but once again thank you for the insight and wish me luck!

Hi Joe Splitrock, I totally agree 100%. Great ideas as well, thanks man! Yeah I just couldn't sleep knowing that I didn't disclose that to prospective tenants as it would just invite more problems down the road. But I really like the idea of appealing to the people who are already in the immediate area since they'll already be "aware" of the local issues essentially. Again, great stuff and thanks again!

Hi Wale Lawal, yes for sure I'm going to try talking to them (maybe incentivize with a goodie-bag or gift card) and I started asking around with the neighbors as well. No HOA in this case, but according to a neighbor there have been some complaints in the past and it calmed down, but then they would go back to their old ways. Still some strategizing to do on my part, thanks Wale!