All Forum Posts by: Jacob Michal

@Drew Chance that’s great man.! I hope the project turns out good.! Looks like a pretty cool design.! Love to see the progress start to finish

@Greg Dickerson I'm trying to reverse engineer to find developers deals and if I feel like I can't trust somebody then I can always have them sign a nda and if they try to go behind my back for the deal I can always file a Affidavit on the contract but some good advice though.! I know they are harder then the regular SFR deal and require more hoops to jump through but it will just be a learning curve I'll have to learn to get through .!

I have been Wholesaling for about a year and a half now and I’m starting to look into development deals because that is where I want to start investing into a certain extent as far as new builds and condo conversions An apartment complexes And I was just wondering if there were any books or people you recommend me to research just to gain more knowledge on this topic Impossibly maybe even let me know what you are looking for and I can reverse engineer and find it for you any help would be appreciated.!

https://www.wdrb.com/news/convention-moving-from-nashville-to-louisville-expected-to-bring-millions-in-economic-impact/article_3c548428-14c1-11eb-a2a3-6bc82b76dbe8.html

The Hearth, Patio & Barbecue Association announced its annual convention will move its 2021 show to Louisville and expects to bring millions of dollars in revenue and over 8,000 people to the convention.! Louisville’s market just keeps growing !.

So I am looking to get in to the terra haute market as a second market to do wholesale deals in I am already currently in another market doing deals. I was just seeing what areas should I watch out for and then also what are good areas to target and just any tips anyone could help me with.! Thanks.!

So what are your viewpoints on the Terre haute indiana market.? From a outsiders perspective looking in it looks like a great market for cashflow, We are looking to expand in to that market possibly and looking to connect with some people as well.! Any tips or ideas anyone could give us about the area.?

hey we currently have a wholesale deal we are looking to sell in the terre haute area if you know anyone who may be interested or if you might be interested

hey we currently have a wholesale deal we are looking to sell in the terre haute area if you know anyone who may be interested or if you might be interested

hey we currently have a wholesale deal we are looking to sell in the terre haute area if you know anyone who may be interested or if you might be interested

So when i first started wholesaling last July i was using the 70% rule minus repairs minus my wholesale fee to calculate all my deals, I quickly realized i was getting burned on my deals, Deals i would pass up on other people would pick up and make 10k+ wholesale fees on and just left me wondering what am i doing wrong.? The truth of the matter is when you are wholesaling there are a few things you need to consider,

1.) each buyers repair estimate is going to be different 

2.) some buyers are just going to get the property livable instead of fully remodeling it 

3.) Some buyers are going to do the work themselves so they don't spend as much on the rehab 

4.) If your in a competitive market you will get burned on so many deals, some buyers will pay more then 70% on their deals especially in high priced markets

So you might be wondering what do i do then .? Well there is not one set answer but the best thing to do is really take the time to learn you market and more importantly network with your buyers to see what they are buying and what they are buying for, Another way that is my favorite way is looking on the MLS or Propstream to see what the cash sales are in the area and try to be below the cash sales. You ca also see what percentage landlords are buying according to the rent rule, For example in my market i have seen buyers buy 1.2-2% of rent in Louisville, Kentucky rather the just the 1% rule, Even though some do still buy at 1%. So there is not really one set answer or formula to use you just have to figure out what buyers are buying for in your market and really learn your market to figure it all out, the best advice i can give you is fail forward.!