All Forum Posts by: Account Closed

Hi everyone. I will be moving to the Charlotte NC area within about 6 months. Our home in Richmond VA closes on 8/1 and we'll hang around up here until my wife figures out her next career move. I am currently in the negotiation phase of selling my current business in the lawn care industry. I would like to begin building a wholesaling business in the Charlotte and surrounding areas BEFORE I GET THERE!

I am possibly looking to work with someone in the area in the meantime. I am open to suggestions and opinions on the best way to do this. I am thinking to either partner with someone or do a "virtual wholesale" arrangement where I run the marketing, office work and the other person is the "boots on the ground".  I am currently building a site on Leadpropeller. I have some knowledge on the website stuff (SEO, list building, conversions, etc).

I have money to market to motivated sellers and I have a minimum of 30 hours per week to dedicate to this. As soon as my current business sells (hoping on 8/1-9/1), I can dedicate at least 40 hours a week or more to this.

If anyone is interested please let me know. If you know someone who may be interested, please share with them.

Thank you.

Erik

Looking to capture leads of motivated/distressed sellers.

If you are a residential real estate investor and could build your dream website, what features would it consist of? 

Most seem to be just boring contact forms. What could you do to make it stand out?

Thanks! Left a message at the office Phil. Talk soon.

Looking for a trusted and reputable property management firm in Henderson NV please. Thanks.

Pretty exciting! So I found a 3/1 SFH in a decent area of a small city. Owner is a widow and is now living with family member. She had a renter who ruined carpet and kitchen linolum. Actually has nice wood floors that can be refinished in all rooms but kitchen. This is a 900 sq ft house. Its in decent shape, built in the 50's. She wants "25 to 30k". I mentioned seller financing and she was very interested. House is paid for. I am just practicing at this point finding deals but will gladly make a deal. It needs about 2000 in repairs as far as I can tell. She said it previously rented for $850. This seems on the high side for the area but not out of line. She is going to talk to her attorney and get more guidance on seller financing. I told her I could not put anything down as I would need that for repairs. So here is what I am thinking. Offer 20k, 0 down, 10 years at 5%. This would give her just over 25K after the loan is paid. The house asseses for 53K. I think I could get $750/mo in rent at minimum. So it meets the 2% rule and would cashflow at $162/mo using the 50% rule, assuming the 2000 in reno and 1000 in closing costs (not sure what that would really cost yet).

Other questions:

Would I be wise to get a professional appraisal and/or inspection? Or find someone who knows what they are looking for for a quick walk through. ie friend?

Any ideas on closing costs?

Would love some feedback if that is enough to go on! Thanks!

 You're right. It's funny the side effects of some things that you never realize in the beginning. In fact I am considering marketing to a few new people in the spring..ie absentee owners.

Makes sense. Thank you.

As I think about creative ways to obtain my first property, I can't help but think a little outside the box.

I own a lawn maintenance business and while we mainly deal with residential (better money), the company can handle small to mid sized commercial properties. Since I know that commercial properties that we can handle can be worth anywhere from 5K to 35k a year, i wondered if I could get lucky and find a trading opportunity. Ideally this would be an owner of an apartment complex that also owns smaller units, such as SFH or MFH, and trade services for these smaller properties they may not want to keep anymore.

I am certain this wouldn't be easy to find but is it a good idea to find owners that fit that category and try to make a similar deal?

As I think about creative ways to obtain my first property, I can't help but think a little outside the box.

I own a lawn maintenance business and while we mainly deal with residential (better money), the company can handle small to mid sized commercial properties. Since I know that commercial properties that we can handle can be worth anywhere from 5K to 35k a year, i wondered if I could get lucky and find a trading opportunity. Ideally this would be an owner of an apartment complex that also owns smaller units, such as SFH or MFH, and trade services for these smaller properties they may not want to keep anymore.

I am certain this wouldn't be easy to find but is it a good idea to find owners that fit that category and try to make a similar deal?