All Forum Posts by: Gabriel De Almeida

Hey @Tevin Russell Wes hit the nail right on the head. Remember, you're looking for motivation. You can't get a deal from someone who's unmotivated. Start there for sure :)

Hey @Dylan Barnard in addition to Deal Machine I would also recommend Land Glide. It gives you a ton of details and allows you to pin each property :)

Welcome brother! Love the plan. I'm right there with you on starting with single family because as an investor it puts less pressure on you and you're not risking as much. Of course, you could argue that with multifamily you're also spreading your risk and might have more upside, but there's definitely something psychological about starting on the small end and working yourself up. Wish you all the best! 

Just to be clear, we only wholesale within the state of Massachusetts since we're able to personally drive to the properties and ensure that all the numbers and repair estimates do make sense :)

@Bruce S. Raphel Hey Bruce! Thanks for responding to this post. I'll reach out to you :)

Hey @Isaac Josey! Any mentorship stuff is against BiggerPockets' rules. I would recommend you search the forums here and watch BP's YouTube videos on wholesaling and their interviews on wholesalers. I don't think you should pay anyone because all of this information is public. There are so many resources and wonderful people here :)

I, along with our team over at Ohbdeals.com, are professional wholesalers in Massachusetts with a healthy supply of off-market deals across the state and we're currently looking for more cash buyers to assign our upcoming deals to. I'd love to connect with you if you operate in Massachusetts :)

I'm happy I was of help brother! Just try and learn as much as you can about the entire process and filtering out bad deals from the good ones. Make sure the numbers work, that the ARV is reasonable, that the repair estimates make sense, that you factor in the buyer's profits and costs, and you should be good. I wish you the best of luck :)

@Jeremy Galloway hit it right on the head! I would also add on that you should ask them what deals they have closed in the past and ask them for some details on those deals so that you can see what numbers they work with, their level of detail, and if their deals make sense to you, because as you will see in this industry there are a lot of people who think they can make a quick buck and have absolutely no idea about finding a reasonable ARV, repair estimates ballpark, and/or calculate closing/holding/financing fees that buyers will incur.

Also, make sure that they actually have the original contract to the house if they're assigning it to you because some people try to wholesale other wholesalers' deals and it's a mess. But in the middle of all of the bad apples there are some legitimate and honest wholesalers out there.

Good luck brother :)

Hey Isaac!!

When you get a house under contract (typically the hardest part, which would mean that you found a house that would meet an investor's criteria and the numbers made sense) you have to find a buyer for it.

So you'll first have to send your signed contract to your attorney/title company so that they can do all of their work checking the title and whatnot. Then after doing that you'll have to locate your buyer who will most often than not come in with cash/hard money since they're able to close quicker with the least amount of friction. Finding your buyers won't be hard if you got a good deal under contract. You'll want to be very upfront in letting them know that you own the equitable rights to the property and that you want to assign the contract over to them. If you post your deals here in BP you would write something explaining that on your description (there's a few wholesale deal posts in most markets if you check the marketplace here in BP).

If they like the numbers, they will typically want to check out the property, and that's when you would schedule a time to show the property (make sure the seller is okay with this when you first get the property under contract). If after they walk the property they like what they see and it all makes sense, then you'd have them sign the assignment contract and send that over to your attorney/title company.

From this point on it would depend on who your attorney/title company is but it should be fairly simple. After the title work is done, they'll want to schedule the date for all parties to go in to sign all the paperwork (this will most likely than not be on the date that you and your seller agreed on the purchase contract, or it could be before if all parties are okay with it). Call your attorney/title company and have them explain the process to you since they could operate a bit differently.

P.S.: My only advice is always be honest and up-front with all parties and always try to create winning scenarios for everyone as that gets you repeat business and a good reputation. Lastly, just go out there, learn as much as you can, help those who want to be helped, and give back :)