All Forum Posts by: Gerardo Dominguez

I am new to the wholesaling game. I currently have rental properties but looking to wholesale as a second income. I have already completed the first step by sending out postcards to a list of pre-foreclosures. I mailed out about 90 total and a week has passed with no response. Does anyone have any other options to get sellers besides mailing postcards and waiting?

driving for dollars, networking at REIAs, build a website

2 Votes

Originally posted by @Diontra Common:

My name is Diontra aka Dede, I'm 28 yrs old and I currently live in Chicago, but looking to move to Atlanta in July 2016. I'm looking to learn about RE investing. I want to start out with wholesaling and fix and flips, gain some capital, and get into multi family rentals and commercial RE. Im seeking advice and knowledge as how to find properties, determine repair costs, ARV, ROI, and everything else that comes with RE investing. I've never done a deal before because I just don't know how or what to do first. I'm currently a makeup artist, which I love doing btw, but I'm ready to gain a financial education and begin my journey towards financial freedom and passive income. I hope to meet like minded people and build great, long lasting, business relationships/ friendships here on BP.

Welcome to BP!

0 Votes

Since it's so close to market value, you might not be able to do anything. Look into lease options. Also, look at the rental value and existing mortgage rates. Maybe you can do a subject to deal and rent it out. Either way, make sure the numbers make sense.

0 Votes

Good Luck @Larmon Cummings!

2 Votes

You negotiate that with the seller first since they're the ones ultimately responsible for paying those taxes. Whatever you agree with seller will be included in the deal with the buyer.

0 Votes

Wow! Congratulations @Dawn Anastasi!!

0 Votes

You can find both forms from the "FilePlace" section here on BP. It's under the resources tab.

0 Votes

The MLS isn't a good place to look for a wholesale deal. The first thing your end buyer will do is Google the property you're trying to sell. The next thing they're going to do is ask you why they should pay $5k, or more, for a property they could easily buy without you. You should focus on finding off market deals. Go to the learn section of this site and start doing some research. Good luck!

1 Vote

Welcome to BP @Ricky Turner! And good luck on your next investment :)

0 Votes

It would be nice to have but no not necessary. You can go online and run comps on your own. For example, using the price my home tool on Redfin. You can also ask realtors to do it for you since they have MLS access. Repairs are trickier. Look around online so you can learn how to price things out, assuming you can't already. You can also work with contractors to get a real estimate. You should be networking anyway so now you know to start looking for people that can help you with these numbers. One way or another, just make sure your numbers are good before you start trying sell deals off to other investors.

0 Votes

All Forum Posts by: Gerardo Dominguez

Gerardo Dominguez has started 5 posts and replied 221 times.

Post: Wholesaling 101

Post: Newbie from Chicago

Post: First possible deal

Post: New Direct Mail Campaign-South Side Chicago Market

Post: Campaign to Tax Delinquent Properties

Post: I paid off a house in just 3 years!

Post: Wholesale contract assignment Chicago

Post: Using agents and best ways to get deals

Post: New Member - Schertz/Cibolo, TX

Post: Wholesaling