All Forum Posts by: David Rundle

Address: 533 W 67th Street

Asking: 36,000 Or best offer

Repairs: Roof (no visible leaks that I could see, but it's time), Cosmetic Interior, Bathroom Remodel, Junk Removal, Electrical Box, Hot Water Heater.

Median Rent in the area: $550/month

ARV: 78k

Asking Price: $36,000 Or Best Offer - Cash or Hard Money Only 

Good to see another Okie here.  Welcome!

I have a great deal for all you investors who buy and hold lots to owner finance them!

Lot for Sale in Midwest City, Oklahoma

Address: 309 W Lilac Lane

Cash: $4,000

County Assessor values at $12,250

The seller will need a new place to live so they'll have to secure a second mortgage.

My first deal I messed up so bad and only made $100 for about 50 hours worth of work.  The education I gained was invaluable.  

You can:

A) attempt some lease option strategy

or

B) let them go and move on, knowing that your price point needs to be lower in the future.

I'd choose option B) and tack it up as a learning process.  Since you're so new to wholesaling I'd suggest that you really need to stay laser focused on just wholesaling and learning your markets.

I use click2mail.com and have made way more in returns than any batch of sending postcards ever cost me.

Address: 1515 E 7th Street Shawnee, OK

Price: $6250

Message me if interested.

Having a mentor catapulted my business.  I'd still be fumbling around in the weeds without leveraging the knowledge and success of someone who's traveled the path and knows one of the ways to success.

If s/he marketed good enough to motivate you to make a post on an internet forum, I would imagine his/her phone is ringing off the hook!!!  

This ARV calculation scares so many new wholesalers and it shouldn't. Bottom line is you need to take action and get a home under contract and quit reading internet posts.  Once you get a home under contract offer a cash buyer in your area a large discount or the property for a free assignment.  In return, ask him to walk you through the home and point out what he/she looks for and how much it costs them.

If you have the home under contract for too much, be honest with the homeowner and let it go or renegotiate.  If not, you have a solid foundation for your specific farm area for your next deal.    One spreadsheet doesn't create the solution for everyone's problem.  This is a people business, not the quadratic formula.