All Forum Posts by: Gabe Waldrep

If you want an unbiased opinion, find an engineer and have him or her evaluate the foundation. Yes you will have to pay for the report, but you can then share that report with multiple foundation companies and have them bid based on that report as opposed to each generating their own report and opinions of needed repairs. 

Like Sam said, Propstream and Dealmachine are both great tools to help with driving for dollars. There is also a Driving For Dollars app.

I have used Movement personally, and I have had several clients and fellow investors use them with great success. As with any mortgage company, the loan officer can have a significant impact on your experience. But I think the company is solid as a whole.

Hi Manuel, there is no law against a buyer contacting an owner/seller directly. That seller may refer you back to their agent, however, which will probably start you off on the wrong foot with that agent since you tried to go around him/her. There are a lot of wholesalers who contact listing agents and run through the same questions and have the same sales pitch.

I would suggest making friends with a few local agents who can help provide insights about areas and listings. Maybe find a local inspector who will perform a modified inspection at a discount in exchange for repeat business.

Be respectful of the agent's time. Do your research. If you make offers, make them with reasonable terms while still protecting yourself. Be the buyer/wholesaler who can close and deliver as promised. Don't be the one known for always asking for a price reduction or terminating last minute.

Let me know when you are up and running there.

Welcome Louis! There is a strong DFW presence here, so you are in a good place for sure. Let me know if I can do anything to help! 

We buy 75% of our deals from wholesalers. They spend more time and effort on marketing than we care to spend. I think good wholesalers provide value, especially if they are presently investing themselves because they have more understanding about the true cost of renovating, etc. Where many fail, is by not properly negotiating with and/or framing expectations with sellers and their distressed properties. Too many are so eager to contract a property that they do not identify all needed updates and repairs. Or they underestimate the repair budget because they try to use a $$ per sqft guideline for repairs. Then they contract the property at too high of a price and fail to sell the deal because the price is wrong. If they would operate with more integrity and do a little more homework, I think it would help everyone involved and make their business more effective. But like in any industry, some excel, some fail, and some just manage to get by.

There are several good responses and suggestions here. I am in acquisitions for REI Nation which is a long-time, well-known turnkey property management company in the Memphis and other markets. I'd be happy to connect you if you'd like more info.

Glass top all the way. There are plenty of good glass surface cleaners that can remove just about anything. Coil top screams low-end rental to me.

Hi Amna,

I have a KPI google sheet that might be helpful to provide you a starting point. It would need some tweaking to serve your needs, but it could be a base for you. 

I'm also a buyer in the OKC and Tulsa areas, working in acquisitions for REI Nation. Would love to be your go-to once you are up and running in OK.

I've never had a wholesaler try to sell me their LLC. Buyers want the property and the contract, not your LLC. I would suggest sticking to either assigning the contract to them or double closing.