All Forum Posts by: Dustin P.

I would look up individual trades and ask their pricing on specific items. How much per square foot to install vinyl plank flooring or laminate, how much for tile, how much per square foot to cut and install granite/quartz countertops, how much per box to install cabinets, how much per square foot for interior/exterior paint, drywall, appliance install, install vanities, how much per square foot for shower tile, how much for a 30  year dimensional shingle roof on a 1500 square foot house with standard size 2 car garage, etc.

Getting a contractor bid will include their markup on everything (In this market, anywhere from 20-40%) and you'll never get a house under contract using those numbers

Pretty much any title company can handle wholesale transactions. I personally like american title

I'm always down to work with other wholesalers if you want to reach out and I can answer any questions you may have!

Comping and rehab. Comping and rehab. Comping and rehab.

Being able to pinpoint the value and also familiarize yourself at least with the basics of what certain things cost (Paint, flooring, cabinets, countertops, vanities, shower tile, lighting, roof replacement, HVAC replacement, window replacement, pool resurface, etc) is crucial to being able to figure out what you can offer / what an investor will pay for the property

Then learn how to reverse lookup buyers and what they are paying as a % of ARV in certain areas and use all of those things to start making offers

Phil is mostly into STRs now not as much wholesaling but I've wholesaled 60 properties in the past 6 months and these are the areas I focus on

Prices will probably be unaffected

Business as usual

 You just take the person's name and put it into Monsoon (Tax records) and poof, there are all the properties the OP owns under his name

Or if it's owned by an LLC you go to the ACC website and look up his name as a principal and look up that LLCs name on Moonsoon. Pretty basic stuff I teach my agents day 1

I think you bought high on this one Kevin. You bought from a person who had just purchased from a wholesaler (New Western Acquisitions) in May and you bought it for $85k more. Not that that necessarily matters, but I just know for that area that's a pretty high purchase for a rental. You bought it updated and in this market I think you really need to buy distressed and gain equity through doing the rehab yourself, rather than buying an already flipped property (At least for LTR in Maryvale)

I'd bite the bullet, find a property manager / realtor, get the highest rent you can with qualified tenants and just rent at a break even if you can for now. You'll make money in the long run through appreciation and through rent appreciation you'll eventually positive cash flow. Rather than dumping it and potentially losing money now. I think 370k would be a little high after running comps, maybe 360k.

I'm not sure if this is soliciting or whatever, mods take it out if it is, but I'd list for a discounted listing if you needed it to moved but honestly I don't think that's the right play. I would just get the most rent you can and wait it out.  You already have some equity and you'll be able to charge more rent after the first lease term and with a fixed mortgage you'll be fine in the long run

I would advise to start buying properties distressed, rehabbing them and then renting them out though rather than buying fully fixed up in this market. Or at least that's what I saw more people doing

I have one I'm wholesaling on Tuesday in Scottsdale, 56th St / Cactus

@Lori Messina It's not required but it's probably a good idea especially for flipping. But you could also just sign the contract in your personal name and then assign that contract to an end buyer / flipper

I would love to see anything you get under contract in Arizona!

We've increased rents on everything by at least $100 but honestly we should have increased way more. With rates still being low if you can get something that makes sense right now the rental game is very nice! The ones we have in Tempe are just blowing up

God bless America