All Forum Posts by: Adam Hofmann

Holy cow! Glad to see this got some action today, sorry for the delayed response.

@James Wise - good luck on the close! Keep us posted on how it turns out. I'd love to interview you to get some more details if you're willing to share.

@Jon Klaus - you're doing some work! Let me know when one of them gets completed end to end so we can do an interview/blog of what went down.

@Steve K - you got it! Don't stop the marketing, consistency is key, but I'm sure you know that.

@Pat L. - that's a really neat story actually. Send me a PM if you're interested in chatting some more about those relationships. Could make for a unique perspective.

@Account Closed - it has to be a coincidence that these last few posts have all been about spec homes! Bummer about the rental - what do you do when something like that happens?

@Jay Weaver - I think we're in similar boats in terms of starting our REI career. Good luck on Wednesday, would be sweet to profile your flip along the way. Let me know.

@Ronnie Sparrow - sounds like you're already in good hands. Keep us posted on your marketing.

@Randy King - sending you a PM about HUD properties.

@Shaun Reilly - Gotta make offers to get properties! Crappy to hear about your tenant issues as of late. I think the Christmas rehab would make for a good deal breakdown/write up if you're willing to share. Let me know!

@Ned Carey @David B. - send me a PM if you're willing to disclose the details on your recent completed transactions

@Account Closed - is this a new property, or an existing rehab you're selling?

@Paul Jamgotch I'd love to get a write up from you after things go all the way through to get the whole story. Send me a PM if you'd be interested.

@Jessica S. what a nice Christmas "present"! Berkeley is just brutal when it comes to finding deals. I did a blanket mailing my first time around for a good chunk of the Bay with plans of honing in after I saw some interest in specific areas. Needless to say, no calls yet from Berkeley. Keep me posted on how the properties pan out.

@Mark Ferguson sounds like you're off to a smoking start. Any chance you'd be interested in sharing more with me about the deals? Send me a PM if you are!

@Mark Updegraff really interesting dynamics in that deal. Good luck and keep me posted on your future plans!

Now this is a serious coincidence...or is it?!

I was talking to Brandon about this the other day and said to him, "Honestly, the first blog I found on flipping real estate was the most useful because it went into so many great details about the deals! I want to make something like that for everyone to contribute to..."

That blog was the one and only @J Scott

Thanks for chiming in and I'd love to profile some of your future investments

If you have, I want to hear about it!

I've been talking to the guys at BP about doing a daily post with a more in depth dive of successful real estate deals. I personally find these to be incredibly helpful from a learning perspective and tremendously motivating to get out there and make something happen.

If this sounds interesting, leave some basic info below about your deal and I'll send you a PM to follow up.

Fantastic to meet you all!!!

My new goal for 2014....

Find everyone that I interacted with a deal to fit their portfolio in 2014

Sounds like next week is going to be tough all around. I'll ping everyone and see what they're feeling like.

How did I miss all this action!!!

A little about myself: Found BP in October of 2013. Decided to start and focus on wholesaling thanks to my passion for marketing and system building. Dragged me feet until January. Finally started marketing and now my phone is ringing and I'm trying to figure out what to do next!!!!!

In State / Out of State? For now, in-state. I think there are some unbelievable spreads to be made here for the right properties. If I was actually investing for a cash flow property, I would be focusing out of state.

Strategy? Wholesale

Type of properties? SFR

Looking for? I have a couple properties that I would like to review with experienced investors. I currently have one home that would appraise for around $1M and another that could probably fetch $2.3M+ I'd like to understand if these are potentials for updates + flips or if they are simply luxury resales. I also have a condo in Oakland that could use some updating, but is currently rented. Anyone who would be willing to review the details and help with next steps or even partner, I'm down.

@J. Martin thanks for the kind words. And yes, when I start working on something I usually go hard at it to make it work!

I know the EBay meetup is tomorrow, but what about a smaller session next week on Wednesday with us guys who showed some interest? PM me the times you are open, your cell and email.

@Jared Anderson you can sort through and in most cases weed out those in your craigslist search. If you pay particular attention to the words used mostly by realtors and really savvy property owners. In the off chance I do email an agent, they either won't respond or will ask me to not email them again. In which case I just delete the email and move along.

There have been a few times where I actually replied back and apologized which started an entirely different conversation that was useful.

@Dev Horn nice, writing that down too!

Just got off the phone with another potential seller - she is the most motivated I've come across, but still not the obvious gold. Once again, maybe something creative can be done here?

3/2 Townhome in a desirable neighborhood - other town homes are selling quickly in the $590-620k range. She was about to list it and then got my letter. Talked to her old realtor and he thinks she can get $620k no problem on the MLS. Said if I can offer her $600k with no commissions she'd sell it in a second. It's currently rented for a ridiculously low rate. Had fire damage in 2012 and was fully rehabbed so everything is pretty brand new.

It feels like the best I can do here is negotiate with the lowest comp in the area, back out 6% commissions and maybe some sales razzle dazzle. She needs to sell for medical expenses, but isn't super desperate if she is considering just listing it.