All Forum Posts by: Sean Gribbons

I've worked alot with wholesalers and off market sellers in the past before Clear Cooperation policy was put into affect by NAR like @Matt M. mentioned. Very rare occasion when I see a wholesaler making more money than a commission in this market maybe sub $400k range but I'd love to meet guys doing those deals. Pretty shady business though if you ask me! 

Hey Suzanne, that's awesome. Welcome to the community! 

Perfect timing was 5 years ago because you could easily leverage the equity and have atleast 2 more properties. Everybody wants to play the appreciation game but buying real estate for appreciation is not a great strategy. Gotta weigh in the opportunity cost plus just think that money you are saving could be at work right now for you, but its not so you have to factor that into your 10 year return. I say look at deals until something stands out. Everyone I know is still buying

@Wade Wilson curious why you would wholesale when you have an RE license especially in Denver? Why not just make a commission instead? 

@Michael Vialpando I will second you on Nicole she is awesome I purchased my property through her 

@Charles Schmidt I have a couple friends who house hack its a good option to get things going but requires a'lot of management and being hands on so IMO its not a super scalable strategy. I prefer to find houses with separate entrances/airbnb potential. In Lakewood/Wheat Ridge area I can get $150 a night avg at 90% occupancy for a 2 bedroom basement unit with kitchen. The numbers seem to work really well and the time invested in management is like less than an hour a week. 

In terms of looking for those deals I would find what local bedroom are going for in the areas looking. If bedrooms go for $900 each and you are trying to cover a $2800 mortgage payment well then you need at-least 4 bedrooms to cover the payment and another for yourself. Just then focus your criteria on # of beds and baths and price that alone will show you the "hot pockets" in the area. I can tell you some good places to check out would be Ruby Hill, Arvada, and Aurora. 

On facebook theres a Group where people post looking for rooms to rent I see literally dozens of posts each day in the group. Most people have atleast $800 to spend per room. 

Hope that helps. 

RE license think of how many low ball offers you will have declined. At least with an RE License you can offer to buy or now sell the home since you are licensed and make a commission. Besides most wholesalers don't even make what an agent would.

@Kyle Marsh everything starts with a deal. I would start attending local meetups and look for other events going on in your area real estate related. At the same time I would start analyzing and hunting down deals. Best way to become useful is by finding a worthy deal then you hold the cards and can approach investors you meet and ask to partner up. At the end of the day its just like anything else its a numbers game keep pushing and grinding and something will stick. Best of luck! 

I'm considering starting my own training program for other Realtors who are interested in raising capital and flipping houses with their RE license. I have seen Brad Lea and heard about Light speed VT just wondering if anyone has any experience with the product. Curious your thoughts on it.

Thanks!

I've heard people talk like this for 5+ years. The market isn't going anywhere anytime soon with interest rates at these lows. We may see some movement in the commercial retail sector but everything else is doing pretty well.