All Forum Posts by: Foster Algier

VISIT OUR WEBSITE to see ALL our properties and photos of this property: WWW.FACSOLD.COM and join our email list.

1 5 4 0 Ridgewood Avenue
Maitland, Florida 32751
($224,000.00)

5 bd. / 4 ba.

2364 sq. ft. (gross sq. ft. 3108)

Block construction

Please call to see property, Foster Algier 407-217-2899.

Possible rental opportunity in Maitland. This home needs an estimated $30,000 in repairs, appliances, paint, and minor clean up. Home value is around $380,000. 10% ROI.

ARV: $380k

EST. REHAB: $30k

CASH, HARD MONEY OR PRIVATE FUNDING ONLY, NO BANK FINANCING. We have handyman specials, under market value, foreclosures, probate, REO's and rental investment homes. Receive a $100 gift card of your choice when you purchase a property from First Alliance Capital.

Foster Algier, Licensed Real Estate Agent, Sand Dollar Realty Group, Inc.

VISIT OUR WEBSITE to see ALL our properties: WWW.FACSOLD.COM and join our email list.

2 5 1 9 Tuscarora Trail
Maitland, Florida 32751
($235,000.00)

3 bd. / 3 ba. / 2 car garage

1999 sq. ft. (3024 gross sq. ft.)

Built in 1964

Block construction

Please call to see property, Foster Algier 407-217-2899.

This is very nice home in the desirable Dommerich Hills neighborhood of Maitland. This house has been very well cared for and needs only minor cosmetic touches to get top dollar. Low days on market in this area. Now is the time to set up next year's first large score, and get 2013 off to a racing start. If you don't buy now next year will have a sluggish start.

CASH, HARD MONEY OR PRIVATE FUNDING ONLY, NO BANK FINANCING. We have handyman specials, under market value, foreclosures, probate, REO's and rental investment homes. Receive a $100 gift card of your choice when you purchase a property from First Alliance Capital.

Foster Algier, Licensed Real Estate Agent, Sand Dollar Realty Group, Inc.

VISIT OUR WEBSITE to see ALL our properties, more photos of this home and join our email list: http://WWW.FACSOLD.COM

1 6 6 Hilltop Place
Altamonte Springs, Florida 32701
($215000.00)

3 bd. / 3 ba.

3564 sq. ft. (4392 gross sq. ft.)

Built in 1968

Block construction

Please call to see property, Foster Algier 407-217-2899.

Here is a nice sized house near the Rolling Hills Golf Club in Altamonte Springs. There are trees behind the property for privacy.

SOLD COMPS:

100 Hilltop Pl. -- 4/2, 2526 sf. -- Sold for $175.2k on 6/15/12 (bank owned)

185 Hilltop Pl. -- 3/2, 2037 sf. -- Sold for $239.9k on 9/25/12

213 Coachmans Cv. -- 5/3.5, 3308 sf. -- Sold for $337k on 8/28/12

ARV: $340k

EST. REHAB: $40k

CASH, HARD MONEY OR PRIVATE FUNDING ONLY, NO BANK FINANCING. We have handyman specials, under market value, foreclosures, probate, REO's and rental investment homes. Receive a $100 gift card of your choice when you purchase a property from First Alliance Capital.

Foster Algier, Licensed Real Estate Agent, Sand Dollar Realty Group, Inc.

VISIT OUR WEBSITE to see ALL our properties, photos of this property and join our email list: http://WWW.FACSOLD.COM

4 7 8 8 Pleasant Valley Ct.
Orlando, Florida 32811
($34900.00)

4 bd. / 2 ba.

1500 sq. ft.

Built in 1973

Block construction

Please call to see property, Foster Algier 407-217-2899.

This larger house located in the Malibu Groves Subdivision has much potential! The property needs some TLC, and we can help.

EST. REHAB: $7.5k

CASH, HARD MONEY OR PRIVATE FUNDING ONLY, NO BANK FINANCING. We have handyman specials, under market value, foreclosures, probate, REO's and rental investment homes. Receive a $100 gift card of your choice when you purchase a property from First Alliance Capital.

Foster Algier, Licensed Real Estate Agent, Sand Dollar Realty Group, Inc.

VISIT OUR WEBSITE to see ALL our properties, photos of this home and join our email list: http://WWW.FACSOLD.COM

4 9 4 9 Courtland Loop
Winter Springs, Florida 32708
($260,000.00)

4 bd. / 2 ba.

3259 sq. ft. (3898 gross sq. ft.)

Built in 1984

Block construction

Please call to see property, Foster Algier 407-217-2899.

Here is a great house in the desired Tuskawilla area of Winter Springs. The house already had approximately $40k in repairs done. It will just need some finishing work including a full kitchen, finishing baths, an AC unit, fixtures, and flooring in bedrooms and living room.

COMPS:

4902 Petra Ct. -- 4/2.5, 2482 sf. - $285k -- PENDING

4001 W. Danby Ct. -- 4/3.5, 3322 sf. - $750k - PENDING

1153 Waldorf Ct. -- 4/3, 2752 sf. -- Sold for $324k on 9/18/12

867 Windcrest Pl. -- 5/4.5, 4019 sf. -- Sold for $525k on 6/16/12

1156 Queen Anne Ct. -- 6/4.5, 5326 sf. -- Sold for $950k on 8/17/12

ARV: $360k

EST. REHAB: $20k

CASH, HARD MONEY OR PRIVATE FUNDING ONLY, NO BANK FINANCING. We have handyman specials, under market value, foreclosures, probate, REO's and rental investment homes. Receive a $100 gift card of your choice when you purchase a property from First Alliance Capital.

Foster Algier, Licensed Real Estate Agent, Sand Dollar Realty Group, Inc.

VISIT OUR WEBSITE to see ALL our properties, photos of this property and join our email list: http://WWW.FACSOLD.COM

2 7 7 9 L B McLeod Rd.
Orlando, Florida 32805
($27000.00)

2 bd. / 1 ba.

992 sq. ft.

Built in 1973

Block construction

Occupied -- Call for appointment, Foster Algier 407-217-2899.

Check out this 2/1 condo unit that has been completely remodeled! There is a tenant paying $650/month. Over 20% ROI! HOA is $107/month.

CASH, HARD MONEY OR PRIVATE FUNDING ONLY, NO BANK FINANCING. We have handyman specials, under market value, foreclosures, probate, REO's and rental investment homes. Receive a $100 gift card of your choice when you purchase a property from First Alliance Capital.

Foster Algier, Licensed Real Estate Agent, Sand Dollar Realty Group, Inc.

VISIT OUR WEBSITE to see ALL our properties, photos for this home and join our email list: http://WWW.FACSOLD.COM

2 3 1 1 Randall St.
Sanford, Florida 32771
($19900.00)

3 bd. / 1 ba.

1042 sq. ft. (1395 gross sq. ft.)

Built in 1930

Frame construction

Please call to see property, Foster Algier 407-217-2899.

This single family home looks really nice, as you will see in the pictures. This property will need new floors, as some of the old floor boards are soft. You will need to pull up some of the tile in the house, replace the floor boards, and put down new flooring. Also needs some fascia and soffit work done, but the roof is good.

EST. REHAB: $4k

CASH, HARD MONEY OR PRIVATE FUNDING ONLY, NO BANK FINANCING. We have handyman specials, under market value, foreclosures, probate, REO's and rental investment homes. Receive a $100 gift card of your choice when you purchase a property from First Alliance Capital.

Foster Algier, Licensed Real Estate Agent, Sand Dollar Realty Group, Inc.

They will only work for 10K? Interesting. That seems to be what the gurus and seminars always suggest, a 10-15k profit for wholesalers. In the area I am in I network with all of the prominent wholesalers and we have generally agreed to keep it to a tight 5k markup on our properties. It is a standard. About 1 in 20 are smoking deals that we can increase our margins on, but we don't get greedy because like you point out, the deals have to work for all involved.

On a side note, we often help each other find buyers and split the fee. I believe that being reasonable here has directly influenced our ability to go through so many deals each month.

Thank you Diane for your experience. Does anyone else have any input on what your wholesaler(s) profit margins are for properties? This should be interesting.

Jaremy- I agree with your analysis. Sometimes successful wholesalers are made so by their relationships with buyers. They may not offer a deal that is considered incredible based on percentages (ex.below 70% ARV - extras) but they know the area well and can guarantee a solid deal, reducing the risk of the rehabber. I believe some wholesalers offer a service by their local expertise.

J Scott and Don Hines- I agree that many wholesalers send you what they have, not necessarily what you want, and I think that is a consequence of being new to the business and how one proposes the deals. In the beginning, like Dave Gibson said, he chased everything. Finding any good deal is a time consuming accomplishment and you want to get it sold. The reality for wholesalers is that you analyze all solid deals you come across, put in under contract, and then look over your buyers list to fit it to the right investor.

Unfortunately, like Mr. Childs explained, it often comes across that you are trying to fit your square peg property into an investors round hole investing strategy. Good wholesalers have to take great time and care to network with and get to know their buyers so that they can propose deals that their buyers are looking for in a way that makes them feel like they are receiving professional and personal attention. Though I do believe that investors often undervalue the expertise and track record of good wholesalers.

I am very glad that we can use discussion and constructive criticism to help each other work more efficiently. Thank you.

Jason- Absolutely! You have to think that with so many wholesalers out there the average investor receives so many e-mail updates about new properties that sometimes it becomes tedious to see your inbox stuffed to capacity every morning. Individual contact, even as simple as weekly or monthly, creates a relationship and makes your buyers feel important to you, which they most certainly are!

This is also vital for your out of area buyers. You will not see them every month at the local REIA meetings and can compensate by building rapport with regular contact.

Ron- Thank you for starting the conversation. Keep up your diligent work ethic.