All Forum Posts by: Greg Grant
Greg Grant has started 11 posts and replied 55 times.
Post: South Florida Networking Event
- Hollywood, FL
- Posts 57
- Votes 20
I am not sure if I will be in town yet, but if I am I would be attending also
I have been coming across the same experience "so far" with South Florida wholesalers. I have seen over-inflated ARV's and underestimated rehab costs.
I would be willing to entertain any "ethical and knowledgeable" wholesalers in the South Florida area (mainly for Broward properties). So if you are one of those feel free to contact me.
Post: How to find distressed properties to rehab
- Hollywood, FL
- Posts 57
- Votes 20
I would also be interested in any local meetup information.
I have been researching and speaking with some wholesaler's, but some of them don't seem to be too knowledgeable in the actual rehab costs. For instance, they may say a property needs 5-10k in rehab, when in reality it needs 20-25k, to make a decent margin.
Post: New Investors(wholesaler) in South Florida! Any tips?
- Hollywood, FL
- Posts 57
- Votes 20
Hi Marc,
Welcome to BP.
I'm relatively new to the real estate investing thing too, and in South Florida also. I would be interested in seeing what properties you have to offer, now and in the future.
Could you send me a list for the S. Florida properties
Post: How to Search the Marketplace - Updated!
- Hollywood, FL
- Posts 57
- Votes 20
In regards to the search by location feature that was added a while back, would it be possible to add in a distance option? For example, entering a zip code and then an option for a 5 mile, 10 mile, 20 mile, etc... search radius?
I'm in South Florida and being only able to choose "Florida" is a large search area.
Post: Hollywood FL 3/2 with 30k-50k in EQUITY
- Hollywood, FL
- Posts 57
- Votes 20
Do you have a list of the comps you are basing the ARV on?
While I only did a quick search, I could only find comps running from 175-190k
Post: Buying Properties With A Mentor Who Puts Up The Money
- Hollywood, FL
- Posts 57
- Votes 20
Originally posted by @Mordchai Lunger:
I have been doing lots of research on this site, and i have seen many people recommend going to your local REI club. So you can connect with other investors, so i contacted my local club which is BREIA. They offer a mentor program i was curious if this was what many of you recommended i start with. I spoke with one of the mentors and he was explaining the program they supply 100% of the funding and the mentor goes through every step with me. All of this sounded great to me but of course there is a catch first we split the profit 50/50 which i am fine with but they also charge a fee of $7,400 to get started with this program. Is this common for a mentor to charge such a high starting fee. Im always hearing not spend money on these guru or programs they just want your money. Do you think this is the same thing it is a lot of money but it will also make things so much easier for me.
Is this worth it or should i save my money, has anyone gone through this same experience, with a mentor or REI club has it worked out ?
Any update on this? I have been considering this mentor program and while doing my due diligence on them came across this thread.
I knew there had to be some kind of catch (maybe that's a bad phrase, if they're legit). But with them coming up to fund the purchase and repairs and simply split the profits seemed too easy.
To be honest, the $7,400 wouldn't scare me away if a few conditions were met:
- If they had been around a while and had good (honest) reviews
- They were willing to offer some kind of guarantee of performance
-
They were willing to take this "fee" from the first deal or two that we did together, from my 50% profit sharing
I do realize I could "go out on my own" but it would be nice to have someone advise me on potential mistakes I was about to make or inform me on things I need to research and how to do that research. That is certainly worth the investment. But there are too many "programs" out there that make me cautious on who I'm handing money over to.
So I would love to hear from anyone that has experience with BREIA in Broward County FL, on your experience with them and their system.
Right of course. I just wasn't sure if it was known that they always modify it somewhere like certain pages. I can't see my self not checking it over and over though
One more question
The Purchase and Sale Agreement on hubzu, I see it has 42 pages. Does that change at all or is it the same for each property?
Just wondering if I need to scrutinize it each and every time I bid on a property.