All Forum Posts by: Eric Jennings

Hi guys coming this week I may have an opportunity to buy a 5 unit about 4 hours away from me, this would be my first deal ever, what are some things I should consider that might be a bit more obscure? Did you mess up anything major or minor on your first multi family deal? Help me learn from your mistakes 

Thanks in advance 

Eric 

so I have a house under contract, this is for my primary residence in rock hill sc that I intend to house hack, and in my due diligence period the inspector found evidence of powder post beetles and extremely high moisture under the house and I'm wondering what this could end up costing me if i get it treated and have a vapor barrier put into the house and put up gutters to get this house to qualify for the loan and then it proves the damage is a lot deeper than inspected like into the sub floor i included some pictures to show the damage the inspector found 

still have a week and a half till my due diligence is up (2/26/19)

the really wet part is the beam at the front of the house around where the front door is 

Hello, so i found out a property near my moms condo is in pre forclosure, as well as has a year in unpaid HOA dues im just having trouble finding out the information on the pre forclosure what resources would your reccomend to find out more information, like how much is owed, how much the mortgage is for etc? the property is in fairfield county connecticut

I like how you think @Ian Kee

One thing I’m doing right now is cold calling for a group of local investors, they gave me a list and in exchange i get to go with them to see how they are estimating costs whenever it fits my schedule and cause I work full time and I’ll also get an assignment fee/% (we haven’t fully ironed out how much yet cause margins are different on every deal etc)  when I get a deal that works for them 

How can i know what to offer if I don’t know the rehab costs (just a rough estimate even) ?

thank you everyone for your responses! 

Hello everyone, 

I’m just starting out in wholesaling and was wondering what ways you more experienced wholesalers used when you first started to estimate repair costs I have a system for finding comps but I’m not really sure how to get accurate estimates with so little experience 

Thanks in advance 

Eric 

Thank you for the advice Michael! I’ll definately look into his challenge. I’ll let you know how it goes an a couple weeks or so!

Hello everyone, I’ve recently joined forces with an investor in my area to become her assistant, my job is to make phone calls on probate leads then she and her team of investors would actually inspect the property and I would be the one getting it under contract and getting an assignment fee from her team of investors I was just wondering if anyone had a general script they follow that they wouldn’t mind sharing as I’ve never done cold calling before 

Thanks in advance 

Eric