All Forum Posts by: Greg Gaudet

@Joel Bongco

Aloha Joel, we flip wholesale and buy rentals on Maui, but we get a lot of leads on BI. Actually have one right now. I’m looking for more cash buyers on BI, also on Oahu and I get leads there too. Actually have two on Oahu right now also! Do you have a channel for screening leads?

@Yong Park

Sorry doesn’t look like we’ll get a meetup scheduled that soon. Hoping to get one set in mid November

Investment Info:

Small multi-family (2-4 units) wholesale investment in Makawao.

Purchase price: $562,000
Cash invested: $100
Sale price: $585,000

Contributors:
Brandon Turner

The longest and most painful deal I have done by a long shot! But also the most rewarding! Helped this lady avoid foreclosure and couldn't quite get the price low enough for me, so I wholesaled this one to Brandon Turner, it worked for what he needed for a 1031. Made a decent sized wholesale fee.

What made you interested in investing in this type of deal?

I wanted to buy it as a rental for myself for cash flow. But the seller wouldn't accept the price I wanted (500ish), she'd only take 562k. I asked Brandon T. for his input, he suggested wholesaling it and said he'd even buy it bc he needed to buy something for his 1031. So we did it and it worked great for everyone!

How did you find this deal and how did you negotiate it?

Marketing like a beast... everywhere, all the time!

What was the outcome?

$23,000 wholesale fee and my friend got a great rental property in desirable neighborhood.

Lessons learned? Challenges?

When a seller calls you for an offer, just make the offer!! I tried to help this lady keep her house bc all she needed to do was get a PM to manage renting the other 2 units to cover her mortgage. I wasted a week trying to help, and in the meantime another wholesaler got her under contract! Thankfully she canceled and I got it. But next time I will do what the seller asks, and make an offer!

Investment Info:

Single-family residence wholesale investment in Kihei.

Purchase price: $205,000
Sale price: $225,000

Contributors:
Ryan Murdock, Brandon Turner

Closed my first deal with my new partner, Brandon Turner!

We were offered this deal as a flip from a wholesaler on the mainland. But we already had our first two flips in escrow so we chose to pass on this. But instead of just saying no, I asked the wholesaler if he'd consider a co-wholesale since I have a network of cash buyers on Maui. He agreed and said we could keep anything over 205k. Two days later I had an all cash, 10 day closing, no contingency offer for 225k! Not a bad first deal!

What made you interested in investing in this type of deal?

The price was right, and although the profit was too small for us to flip, I knew I could find another investor that would be stoked to buy it.

How did you find this deal and how did you negotiate it?

The wholesaler called Brandon, who told him to call me and I'd let him know if we wanted it.

How did you finance this deal?

No money invested.

How did you add value to the deal?

Bringing a cash buyer.

What was the outcome?

Within 5 days of getting the call (2 days from when he agreed to co-wholesale) I brought them an all cash, 10 day closing offer with no contingencies for 20k above their initial ask price.

@Patrick Hiti

Got some deals available Brandon and I are wholesaling. They’re doing fast but there’s still a house and cottage in kula for 300k below market value. Email me if you’re interested. Price 800k arb 1.1-1.2m

What a great event!!! Thank you everyone for coming, and especially @Cory Nemoto for providing so much value! Thursday was our best event yet.. they just keep getting better and better! 

I’m looking into venues to start hosting our events at. 

Some options are the Marriott courtyard by Costco or the classroom inside Premier Restoration Hawaii’s warehouse in the Waikapū baseyard near Waikapū gardens. 

Once we start meeting at a private venue we will need to start charging somewhere between $3-10 per person. If you’d like to have food and drinks we can do that too, just need people to agree and be willing to contribute. 

If you’re interested in becoming a wholesaler and you are DEAD SERIOUS and 100% committed to being a success please email me to get on our list of trainees for a chance to join Brandon Turner’s team. 

UPDATE: 

Due to the challenges with changing the meeting location, we will be sticking with Starbucks for this weeks meetup. But since we have such a high profile speaker flying in to Maui just to speak at our meetup, we need to make sure we have a designated space and a reasonable amount of tables and chairs; so we do NEED HELP from anyone that is able to arrive a little early, like 330-4pm to help me to reserve tables and chairs! 

If you are able to get to Starbucks between 330-430 please text me and let me know and we can mastermind before the meetup starts! I plan to be there by 4pm and will hopefully be able to hold at least a couple tables. 

Also please note the meetup is at 5pm this month! NOT 530pm! 

Attendees: 

I have an option to hold the meetup in an office space in central Kihei (and another option in Wailuku). But I'm afraid a lot of people will miss the update if I change the location, and go to Starbucks and miss us. If you have any input please text or email me. 

This can also be a permanent option, although we would have to pay for the office space. Please provide your feedback on whether you'd prefer a free meetup at Starbucks, where you may not get a seat and we could be interrupted, or pay $5 for a meetup in a quiet private office with AC. 

Trying to structure the meetup so that everyone gets the most possible value! 

@Ethan Anderson

Got some off market deals available now from large home in kula to small 100k condos for cash flow in town. I don’t get on BP much so if you’re interested text me 359-3121 be they’ll be gone by next week.

Don't miss the meetup 9/19, Brandon T. will be there as well as Cory Nemoto from Keco Capital (Brandon's HML) is flying over from Oahu to speak and answer questions about hard money lending. This will be the most valuable meetup we've ever had by a long shot. Still looking for a better venue, if anyone has anything please text me!