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All Forum Posts by: Jack Rengold

Jack Rengold has started 18 posts and replied 44 times.

Post: how to convince people it's a good deal?

Jack RengoldPosted
  • Charleston, SC
  • Posts 59
  • Votes 5

how do i convince people that what i am offering to them is a good deal?

when i am speaking with someone over the phone i make a ballpark offer to them so i can see what we are working so i know if it is worth pursuing to check out the house and then i would crunch the numbers to make a real offer.

whenever i make that ballpark offer, i am never even close to what they are asking.

right now i send direct mail to absentee owners and am having no luck on the second mailing so far.  i still have 4 more to go, but i want to make sure i have not missed anything from all the calls that i have been recieving.

Post: how to start buying land?

Jack RengoldPosted
  • Charleston, SC
  • Posts 59
  • Votes 5

is $100 a ft a good rough estimate?

Post: how to start buying land?

Jack RengoldPosted
  • Charleston, SC
  • Posts 59
  • Votes 5

@Manolo D.

how do i know how much it costs to build a home if i am not in construction. i was going to wholesale it to start off

Post: when people dont know their homes worth

Jack RengoldPosted
  • Charleston, SC
  • Posts 59
  • Votes 5

i know but i try not to make the first offer. i dont see much point of making an offer if they dont know what their house is worth.  if they have enough sense to deny my offer they have enough sense to give me a ballpark of what they may want for their house

Post: when people dont know their homes worth

Jack RengoldPosted
  • Charleston, SC
  • Posts 59
  • Votes 5

when people call me and ask me to make an offer i ask what they think their house is worth and that i do not make blind offers.  i tell them that i will do my research and in the mean time ask them to find out what their house is worth.

when i call them back they say they still dont know but they want an offer.  do i make an offer? should i tell them to do their own research? what do i do

Post: Wholesaling

Jack RengoldPosted
  • Charleston, SC
  • Posts 59
  • Votes 5

dont listen to micah you are not lightyears... just work hard at learning the business and it will come to you.

find a partner

Post: Wholesaling

Jack RengoldPosted
  • Charleston, SC
  • Posts 59
  • Votes 5

you dont want just any house. it needs to be a house that you can get at a good discount for someone who fixes them and resells them (there are different ways to wholesale but we'll stick to this one).

find a real run down house, or someone who is really motivated to sell their house. you need to get it at a humungo discount which is why real rundown houses are usually good targets.

figure out what the home is going to resell for when it would be all fixed up. agents run comps using mls, or you can use it as a starting point using zillow (DONT USE ZESTIMATE.)

figure out all the costs associated with buying and selling a home. property taxes, insurance, utilities, transfer tax, brokers commission....  

make an appointment with the seller to go check out their home. figure out all the repairs that need to be done to the home.

Home resale all fixed up - all the holding and closing costs - repairs - profit = max offer

As a beginner, i would find a guy who fixes homes and resells them so you can learn from him. you'll have to trust him because you are unlikely to get the property under contract, it will probably be more of a trust game with him where he will give you commission as a finders fee.   

find some homes, tell your buyer to come check it out with you and then he will tell you where to go from there.

Post: Overwhelmed

Jack RengoldPosted
  • Charleston, SC
  • Posts 59
  • Votes 5

make sure you dont become an accidental landlord.  if i were you id buy more units rather then less

Post: New Member, Boulder Colorado

Jack RengoldPosted
  • Charleston, SC
  • Posts 59
  • Votes 5

you already have a headstart with your construction background.

good luck

id charge them for whatever will need to be redone. if their animal is messing with the walls and carpet charge them whatever it will cost to get that redone or refreshed