All Forum Posts by: Elijah Withers

I’m getting started in wholesaling. My ‘office’ is my pickup truck for the time being. I find it extremely cumbersome to try and use a laptop, so I am looking for an easy to use and preferably low cost app to manage potential sellers and my buyers list. Thank you in advance for your recommendations.

I’m very interested in wholesaling real estate. I would like to work for an established wholesaler doing cold calling so I can learn the art of talking to people on the phone. Are there any wholesalers out there who would give me a chance? My only requirement is that I be able to work remotely.

@Bennett Smoot

My strategy is a mix of 15 & 30 year loans. I don’t work full time at real estate, but my goal is to retire 100% inside of 20 years from my day job. My 30 year loan properties are providing cash flow right now, and my 15 year properties are going to be my cash cows so I can meet my retirement goals. Personally I wouldn’t want a note that rent isn’t covering. I’d look at refinancing it to 30 years or selling the property and buying a deal that will cash flow better.

@Christopher Phillips

Thank you for your reply Christopher. I have seen some other investors that run their numbers at 5-7% for both cap ex and maintenance. I think I will run my numbers more in your range at 10%. I want to be a bit more conservative, especially since so many people seem to see an economic downturn on the horizon. Better to beat my estimates than to have an investment that could turn negative cash flow.

I’m looking at a 4-plex that is new construction. What sort of numbers should I be using for maintenance and cap ex so that I make sure the investment stays profitable as it ages? Is there a rule of thumb as far as percentages? I’m a newbie and don’t want to overestimate the cash flow in the deal.

@Poem Turner If you have an email list for this event in the future, please add me to it. [email protected].

@Brett Loetz

Seems like a home run to me! Tell us a bit more about the deal. How’d you find it? How big was your rehab?

@Joseph Kline my Brazilian wife and I have had nothing but miserable experiences with real estate in Brazil. We attempted to purchase a condo in Rio through a builder about 10 years ago. After having our financing guaranteed and making payments through the construction process we found out that Brazilian banks won’t lend to people without earned income in Brazil. Turned out in the fine print our financing wasn’t guaranteed.

We have also dealt with corruption at every level in the Brazilian bureaucracy at every level. My father-in-law attempted to give us land as a wedding present. 15 years later we still don’t have a title. I’ve seen dozens of people go to jail from the land office in the local government. I have an ex-senator with miners squatting my property. My father-in-law was beat up by goons on his own land because this senator wants to steal the land.

I’m not saying that you can’t invest. I’m hopeful that with the socialists out of power that the corruption will get better. Just know....Brazilians hear American and think dollars. They will try shamelessly to screw you. Make sure you have an excellent lawyer who you trust to accompany your buy and to negotiate for you. It makes me extremely sad to write this. I love Brazil. But you need to know there are extra challenges down there.