All Forum Posts by: Doug Teasdale

I am also trying to get a hold of other wholesalers in my area and real estate agents. I have already been to the title agency here too. I may have to talk to a lawyer

0 Votes

Flagstaff, Arizona

I am just starting out as a wholesaler I know of 3 properties that are vacant, before I contact the homeowners I would like to have the agreement so when I talk the homeowners in to letting me sell the contract to an investor I want to have that ready. I have looked on the Arizona real estate website and all I could find was the addendum, I would really appreciate if someone here already has that contract and is willing to share it with me that would be great. Thank you all for all the information and assistance you have provided

0 Votes

Flagstaff, Arizona

Once I get the homeowner to sign the assignment, do you want to be the first option to review the numbers and possibly buy ?

0 Votes

Flagstaff, Arizona

Oh my gosh Dustin thank you so much for your guidance, those are the final 2 pieces of the puzzle I was looking for. It’s really weird up here, I tried reaching out on Nextdoor app and no body knew what a “wholesale” is. They thought it is a new term lol. Again thank you!

Quote from @Dustin Tucker:

Hello Doug, Here is the Arizona Association of Realtors Forms page.

https://www.aaronline.com/manage-risk/sample-forms/residenti...

You will probably need to use the Residential Resale Contract.

For the Buyer as an example use "Doug Teasdale and/or assigns" This allows you to assign the contract to your wholesale buyer. You could also use "Doug's LLC and/or assigns" where Doug's LLC is your hypothetical company.

As for the assignment contract, you can get one from an attorney for probably less than $1,000, you can also make a friend at a title company, they probably have a template they could give you.

If you are looking at Property Values, use zillow.com, that is what we use to fact check properties values. Zillow's Zestimate is a good litmus test for the property value. If you want to get involved with a great training program, try Lifestyles Unlimited, they have over 55,000 members nationwide.

In the future, either get your Real Estate License so you have access to the MLS, or make friends with a realtor so they can get you comps to get an ARV.

For purchase price, use this formula, (Arv * .70%)- Rehab = Purchase Price

0 Votes

Flagstaff, Arizona

Hello BP friends, I have been trying to get my start in real estate investing. I think I’m stuck in the paralysis stage, I have read some books and been to the conferences. I currently live in Prescott Az. A small mountain city. I have seen this same house that is vacant (all the classic signs) I have located the owner ( I have not reached out to her yet). I currently struggle with knowing the right offer price for the homeowner and having the right assignment agreement for Az. Is there someone willing to guide me through this process? I have been trying for several years, thank you all for you guidance.

0 Votes

Flagstaff, Arizona

Quote from @Brian Adams:

@Doug Teasdale

Congratulations on finding a potential syndication deal for a commercial building! It's great that you are interested in learning more about syndication and how to make this deal work. Here are a few recommendations to help you get started:

"The Complete Guide to Real Estate Syndication" by Brian Burke - This book provides a comprehensive guide on real estate syndication, including the benefits, risks, and different types of syndication structures. It also covers the legal and regulatory requirements, and practical tips on how to successfully execute a syndication deal.

"Best Ever Apartment Syndication Book" by Joe Fairless - This book is focused on multifamily syndication but provides valuable insights on how to raise capital, find deals, and manage the asset. It covers both the strategic and tactical aspects of syndication and includes case studies and real-life examples.

In terms of making this specific deal work, it's important to conduct thorough due diligence on the property and the market to determine the potential risks and rewards. You should also evaluate the financial feasibility of the deal and determine the best financing and investment structure for the syndication.

Assuming you have a deal, connect early with an experienced attorney (real estate and also a securities attorney) to ensure that the deal is structured properly and all legal requirements are met.

Overall, syndication can be a powerful tool for real estate investors, but it requires a deep understanding of the market and the financial aspects of the deal.

I hope these recommendations are helpful in getting you started on your syndication journey, and I wish you the best of luck in your real estate endeavors!

Wow Thank You all for all the helpful information. I have alot of processing to do now lol

0 Votes

Wow thank you all for the amazing advice, I'm honored to be learning from you all. After I got to walk the property for the first time, I learned that the cell tower easement lease has been sold, so now the extra income is not there but the building has the towers I can not remove or demo the building. This particular build is part of a historic site, only because of the reason it was built for the Braniff Airlines company.

0 Votes

Dallas, Texas

Good afternoon BP family,

I am trying to figure out how to work a deal as a syndication, I have never considered this type of deal before as I am still trying to find a flip of my own, ( I have flipped thousands of homes for other investors and Freddie Mac). I digress, I saw this commercial building about 4 years ago, it was vacant then and still is. I have spoken to the seller directly he is interested in selling. He is asking $8.5M I do not have the capital for that, so I am actively looking for the right investors who have completed some syndication deals. I know there is more information needed however since I have not done this before I do not know what questions to ask. FYI the owner is open to owner finance for up to 8 years. on an increasing pay scale, to incentivize the sale faster. Thank you for any advise anyone can offer even if it is go do more studying.

1 Vote

Dallas, Texas

Quote from @Brian Adams:

@Michael Goodman, I have syndicated several multifamily deals. What questions do you have?

Hello Mr. Adams, I recently found a commercial building that I want to work on as a syndication deal. The building overlooks a Toll way, I have spoken to the owner and he is asking $8.5M, I have never bought anything to that magnitude. and to be honest I have been a general contractor for over 20 years. I have flipped several thousand homes for investors, and that is my end goal is to flip my own homes. The thought of syndication is one I would love to learn more about. Do you offer any advice as to which book I can start reading, and how I can make this deal work? I would love to be able to lease this building out to a place that does short term office rentals. Thank you for any advise you can provide even if is t go read a specific book.

0 Votes

This is what the wholesaler provided, I am not putting a whole lot of belief in the actual numbers here. I do have a real estate agent helping me with some of the calcs. and showing me how to get the real numbers.

The Numbers

Purchase Price: $225k FCFS/ OBO

Estimated Rehab: TBD

Estimated ARV: ~$1.1m - $1.23m

Estimated Monthly Rev: ~ $9,250 - $10,250/ Month

Estimated Annual Rev: ~ $111k - $123k/ Year

0 Votes

Dallas, Texas

All Forum Posts by: Doug Teasdale

Doug Teasdale has started 7 posts and replied 20 times.

Post: Wholesale assignment agreement question

Post: Wholesale assignment agreement question

Post: Wholesaling questions in Az.

Post: Wholesaling questions in Az.

Post: Wholesaling questions in Az.

Post: Syndication

Post: Syndication help for a new investor

Post: Syndication help for a new investor

Post: Syndication

Post: I am new to the purchasing side...any advice is welcomed