All Forum Posts by: Jerald Alford

Here you have a 2 bed 1 bath home ready for immediate sale! It currently has “good on-time” paying tenant. This Single Family residence is located minutes from the downtown area as well as I-95. 

Hardwood flooring throughout the house with a brand new water heater! Cabinets are in excellent condition with new appliances with a dishwasher to boot! This was initially a Buy & Hold investment but the owner has decided otherwise! So the work has been done already!

This is a wholesale deal that I have under contract with full control. The asking price is just $33k with immediate income already in place!

@Account Closed  Thanks for the tips, you make a very valid point. I have a few potential sellers in "War Zones" but I also have a small list of Buyers in that area, I think I will upgrade my BP account later this month, most of my money goes to postage and what not.

@Phillip Trujillo Heeeeeeeeeey Boat Mate! I had the same experience. I'm a newbie myself and out of my first purchase list I found a seller and then BOOM I had 4 under contract. Same result as yours, no hits, no buyers and I lost my EMD which was about $300. I just look at it as a $300 learning experience. With regards to cooperating with the competition, I thought that was a great idea too, but reading some of the forums it seems that equates to frustration from buyers who get bombarded with the same property with varying prices. Still rethinking that strategy tho. But all in all, don't give up, I haven't; as a matter of fact I'm in the works to getting another under contract and this one is in far better shape than the 4 I had.

Keep grinding my man.

Hey ladies , your post caught my eye. @Priscilla Z. how does that work exactly, I know in wholesaling (which I'm a newbie at) I get the property under contract and it usually for 30days. How does this way work and what about closing and what not?

THIA

Hello all, and thanks for stopping by.

I have been fortunate enough to get a ARV spreadsheet created by Liver Larson right here on BP and being that I'm an analyst it looks to be pretty squared away. That is until today. I went out to look at a property with a Landlord that is aging and is looking to liquidate but the test is for me to get this one off his hands first. He is asking 35k, in my opinion too high, but not really off from retail. In doing the comps from Zillow, the ARV comes up to over 52k! That would be great if the area wasn't deemed as a "War zone". Zillow has an "Zestimate" of 29k. During the walk thru, I would have to say from my non-contractor eye then house is solid. Less than a year old Metal Roof, Fresh Paint on the outside, less than a year old 2.5 ton unit outside, enclosed porch with tile, hardwood floors throughout the house and a so so kitchen that could use some updating. But that ARV is stomping me.

any help of suggestions would be great, love this place (BP)

THIA

@Jose Diaz thanks for the tips, the last one is kinda out there but is plausible.

@Jose Diaz 

Yea I had a clause. It was in the event buyer was not able to secure financing.

@Jon Frame

Thanks for the tips, i will definitely read up on the option side of the contract. I did read instances where the deposits were at the range you mentioned, I have since updated my contract to reflect $20.

With regards to the purchase part, I have no where near the cash that it would take to buy a property at this stage. I plan on building to the point of where i have my own buy and holds, wholesaling is my entry point to that goal.

I have a motivated cash buyer looking to make another purchase. If anyone has a property in the 32246 area that is at least a 3/1 or 3/2 Block or Brick house, please inbox me your contact information.

Than

@Christina R.

Thanks for the advice Ms Lady, i was able to speak with the seller and here's the update:
He decided that he would keep one of the properties and agreed to lower the prices on 2 of the properties. (there is a 3rd but the price fairly low alreadyt)