All Forum Posts by: Marcus Ware

Rich Dad Poor Dad,Cashflow Quandrant,Think and Grow Rich and Last but not least Trump Art of the Deal a classic.

First off, you have comps of 27k in a bad area and property is in need of major renovation . Even if you discount the 6k lien by 50% you are still into the property 20,700 ( repairs 10k ,lien 3k and taxes 7,700). There has to be an easier way to make a buck in Texas.

Was It really that bad?

4 dogs ouch!!!!.If it is one room then tear up the floor. If it is the entire house you may want to factor in a larger than normal budget for flooring. Take into consideration that this a historic house and any remnants of that odor will turn off any prospective buyers. Goodluck

First see if they are willing to sell .second find out what is exactly owed on the property.Then we can go from there.

Hey Ken. Looks like your learning first hand the inconsistencies of human nature but it will be great practice for you. Justin is right start tweeking your contracts and getting deposits. If they do not want to put up a deposit then do not waste your time. Also start trying to do several deals at one time so you do not have to worry so about losing the one deal if things start to unravel. GL

Always remember the level of savy you must have when proposing a deal to a potential investor. Find out what kind of returns your investors are looking for. Most do not realize the knowledge and creativity one must posses to structure a solid deal. I push for continous education. Good Luck

Solid, what are your investment goals? You should be looking for a bigger profit margin in this current market. If anything goes wrong with the repair or arv estimation you will be in a tough spot, and as the investor let your wholesalers know what your criteria is.This deal has no meat. Tell the wholesaler to come talk to you when the 1st or 2nd goes in default or find you those type of deals. The money is made when you buy not when you sell. :wink:

Rene looks like a great deal on paper,but you must where many hats to pull off a deal like this. Wholesaling me be your best option.You also need a vacancy rate without one your numbers can be way off. Good Luck!!!

Hey Scott. How often do the taxes increase?Get those repair numbers nailed down. If your buying for cashflow you may cut it close if repairs are miscalculated. Definitely equity rich. Go for it!!!