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All Forum Posts by: Heather Thuli

Heather Thuli has started 34 posts and replied 55 times.

Post: Lauren Hardy Course

Heather ThuliPosted
  • Dubuque, IA
  • Posts 55
  • Votes 8
Quote from @Kerry Baird:

@Heather Thuli, what do you think about the course?  Have you taken action?  I have a college buddy who is interested in that course, and I'd like to be able to recommend a course of action for her.


 I never took her course.  Decided I could get free/cheaper education elsewhere :)

Post: Figuring out if you have a good deal or not

Heather ThuliPosted
  • Dubuque, IA
  • Posts 55
  • Votes 8
Quote from @Jim Pellerin:
Quote from @Heather Thuli:

I am so close to being ready to get my first wholesale deal.  The only problem is I am struggling a lot to figure out if it is a good deal or not.  I am looking at on-market properties. I feel like every time I see a potential house I have the repair price too high, but I could be off on my repair cost.  Any tips for me? Thanks!

It's a numbers game. Look at 100 properties. Analyze 25. Put offers on 5. Close on 1.

Use the 70% rule to analyze and go from there. 

1. Find comps in the area.
2. Calculate ARV based on comps
3. Take 70% of the ARV
4. Subtract the repair costs
5. Subtract your fee
6. The number left is your maximum allowable offer (MAO) and what you can offer the seller.

This number can be higher if you have a buyer that is buying and holding and not flipping. This is because they dont have any selling costs.

Use a free version of dealcheck and it will do all this for you. Also, Jerry Norton has some free tools in his flipping tools. This is different from his flipster software. 



 Thank you!!!

Post: Figuring out if you have a good deal or not

Heather ThuliPosted
  • Dubuque, IA
  • Posts 55
  • Votes 8

I am so close to being ready to get my first wholesale deal.  The only problem is I am struggling a lot to figure out if it is a good deal or not.  I am looking at on-market properties. I feel like every time I see a potential house I have the repair price too high, but I could be off on my repair cost.  Any tips for me? Thanks!

Post: Wholesaling with a realtor

Heather ThuliPosted
  • Dubuque, IA
  • Posts 55
  • Votes 8

If I talked to a realtor and asked them to send me their pocket listings. I mentioned I pay with cash. They asked me who I am banking with… how do I respond to that??? Do I tell them i’m wholesaling or are they going to frown upon that? 

Post: Wholesaling a potential tear down house

Heather ThuliPosted
  • Dubuque, IA
  • Posts 55
  • Votes 8

What are your thoughts on wholesaling a property that the realtor suggests tearing down and putting a 3 or 4 plex up?  I'm not even sure where to begin to run numbers or what would be ideal to offer.   Thanks for any help, I appreciate it!

Post: Pocket Listings in real estate

Heather ThuliPosted
  • Dubuque, IA
  • Posts 55
  • Votes 8
Quote from @Yoshua Ramirez:

So far according to this very helpful article. Pocket listings seem to still be legal in all states. Just always be on top of the news if there are any changes. https://theclose.com/pocket-li...


 Thank you, I will give it a read!

Post: Pocket Listings in real estate

Heather ThuliPosted
  • Dubuque, IA
  • Posts 55
  • Votes 8

Can I ask a realtor to send me their pocket listings in Iowa??  I read that pocket listings are illegal in some states.  Thanks!

Post: Help with checking my comps

Heather ThuliPosted
  • Dubuque, IA
  • Posts 55
  • Votes 8

I am a new wholesaler and I found this distressed on market property that I feel like is a good deal, but I could be totally wrong.  Is anyone willing to help me check over it and agree or disagree with what I came up with?

Post: Where to get contracts to use for wholesaling

Heather ThuliPosted
  • Dubuque, IA
  • Posts 55
  • Votes 8

I got wholesaling contracts from a guy on youtube (FlipwithRick) that teaches a lot about wholesaling.  I read over the contracts multiple times and watched the video of him explaining them.  They sounded good to me.  I took them to my local attorney who has done wholesale deals before and asked if he would look over them to make sure they were legal for the state I am wholesaling in. He came back with a bunch of questions.  He told me he would suggest I get a different purchase agreement contract.  Where do I even get these from and why does he think it's bad?  Whenever I hear wholesalers talking about contracts it sounds like they just have one they use and they don't even check it with an attorney or anything... maybe I am wrong, but that's what it sounds like to me.

Post: Wholesaling with a realtor

Heather ThuliPosted
  • Dubuque, IA
  • Posts 55
  • Votes 8

If I wholesale a property with a realtor, do I tell them I'm a wholesaler?  How do the contracts work, do I use a contract they have?