All Forum Posts by: Jacob Michaels

Hi @Jae N Noh and @John Van Uytven I'm here in Korea as well, and actively invest both in Korea and do wholesaling in Dallas, TX. Send me an email with details of the next meetup, if you don't mind. 

[email protected]

Hi John, I'm also a wholesaler in the Dallas market. Let's connect to see if we can work together. 

Anybody else looking for wholesale deals, PM me and let me know what you're looking for. I will give you a tip: I save all my best properties for my buyers that I know are serious, decisive, and can close fast. 

Cheers!

Thanks @Kevin Hill . Can you advise on Carol's experience in this area before I contact her?

Hello All,

I have a friend of mine who’s invested in a piece of commercial land for development in the Fort Lee (Leonia), New Jersey area. They’ve run into issues with the project and are researching options. Can anyone recommend any good, experienced commercial real estate brokers in this area?

Much appreciated, thanks in advance!

Jacob

Hello All,

I have a friend of mine who’s invested in a piece of commercial land for development in the Fort Lee (Leonia), New Jersey area. They’ve run into issues with the project and are researching options. Can anyone recommend any good, experienced commercial real estate brokers in this area?

Much appreciated, thanks in advance!

Jacob

@James Mudd Do you mind also sending me his contact info? And does he do full bathroom remodels or just work related to plumbing? Does he do kitchens/other areas?

Thanks!

@David Bateman What are the rent numbers and what area---Austin?

One great resource to roughly (and I do mean roughly) comp rents is Rentometer.com. I personally pay for another subscription service that allows me to see some more detailed rental comps for an area, but I always like to check Rentometer as well.

@Dwight Walker Jr

I had a property I found through the preforeclosure list in Austin last year that I was originally thinking of wholesaling. I instead decided to partner with another investor on it, by going 50/50 on the closing and backend profits through rental/sale. Decisions can change. No need to pigeonhole yourself upfront with sellers when you know it's going to make getting the deal a little bit harder.

I am all for honesty in this business and being upfront. That's why you say, with all sincerity, "I'm not sure exactly what I'm going to do with this property right now. But I'm going to make sure you get what you need and what we agree on, and I'm going to do what I can to make a little bit of profit on my side".

The honest truth is that you really DON'T know exactly what's going to happen. If one of your buyers offered you the opportunity to go 50/50 with him on the backside if you waive your wholesale fee upfront, that is very well something you might do. Alternatively you could actually close on the property and then immediately resell it to one of your buyers (aka "double close" in which case you ARE the actual buyer for the seller, even though it is technically a wholesale). Or any other number of different outcomes to your "originally intended" wholesale route could happen.

Since you really don't know what's going to happen exactly, there's no need to tell the seller that you're not the actual buyer but you're going to profit by selling to your end buyer. You don't know that for sure. That definitely could work and being upfront with the seller about that isn't necessarily bad------it's just a more difficult route to take and because you really don't know for sure that's what's going to happen in that way, I think it's unnecessary.

Most even motivated sellers want to sell to the guy actually buying the property ----and you are the necessary facilitator. You bring your marketing and sales skills to the table to profit. Sometimes, you are actually closing on the property yourself. Sometimes, you're not.

@Dwight Walker Jr I am a wholesaler in the Dallas market. Here's my take on it, it's something I picked up from Sean Terry (super wholesaler extraordinaire from Phoenix): when you are originally talking to the seller you are normally representing yourself as the buyer, and saying that "I'm not sure exactly what I'm going to do with the property: fix and flip it, buy and hold as a rental and sell it off sometime down the road, or whatever. The important point is that you (the seller) will get exactly what we agree on. On my side I am out to make a profit in some way shape or form, and I'm going to make sure you get what you need on your side. Does that make sense? "