All Forum Posts by: Jared Garza

So I have a seller ready to sell for a great discount but they’re currently living out of country for work

It is them and their aunt (who lives locally) that need to sign. I know I can use DocuSign to form the contract (it is a wholesale deal) but how will i structure the deal with the seller out of country?

Thank you from the bottom of my heart for any helpful advice! 

So I've got a property which needs a central AC and flooring. Maybe 10k in total. ARV of 110k. In great condition, really beautiful home. Has been listed for 135 for half a year, dropped to 130 for a few months, and then dropped it to 120k last month... (no realtor contract)

Guy moved out of state, and is very very motivated to sell. Free and clear title. knows 100% that I need to make a profit on the property. He won’t give ballpark because “I don’t want to cut my own throat, but throw me an offer... trust me you’ll be surprised.”

And finished our conversation with “and I’m seriously not bullsh***ing you, make me an offer you’re gonna be amazed”

I don’t know what to offer, this would be my first wholesale deal. If anyone experienced could give me some pointers I’d very much appreciate it! I don’t know what a cash buyer would be willing to pay for a property like this. It could be a very quick flip or fix n rent.. because it needs so little work. 

If someone could tell me what you (as a cash buyer) would buy a property like this for, it will give me an idea of what to offer.

Thank you so much for any help and advice, I truly appreciate it! I know many of you expect everyone to have funding available if they were not to be able to find a buyer.... but that’s why I’m doing my due diligence in making sure that if I get it under contract, it’s a no-brainer for the end buyer. 

Thank you both for the suggestions, I’m going to look into it now! 

So I have been contacted with a home that a couple has listed for 179k for a couple of months and just can’t get rid of. it’s a beautiful home, same condition as when they bought it for 185k in 2016. Their bond for deed buyer backed out (after they moved across country) and they just want help avoiding foreclosure. They owe 151k on the property.

They’d be glad to just be able to walk away owing nothing and receiving nothing. I’m trying to figure out (as a relatively new wholesaler) how I can 1. Help these people avoid foreclosure and 2. Make any kind of profit on the home. Even if it’s $500, I just want to help these people out. They’re very nice people and extremely desperate. 

If one of you more experienced people could fill me in on the possibilities associated with this deal, I’d be incredible grateful. The only thing I’ve studied is wholesaling and obviously this isn’t going to be a typical wholesale deal because the profit margins are so low due to owing 151k. 

Thank You! 

 Extremely interested in that spreadsheet! Thank you for the book recommendation, I just ordered it! 

 Thank you David! This helps tremendously. 

Hello, I am wondering if you guys could help me get a ballpark estimate of rehab costs on a property. 

It is a 2/1 900sqft house that needs most things done. 

Possibly a little foundation work (it’s on blocks)

new water heater

needs central ac/heat installed

new roof (fascia and all components included)

new flooring possibly some subfloor replacement

exterior siding work(paint some, replace some)

some drywall work where there are some small and large holes in the ceiling and walls in a couple of spots. 

couple windows replaced because of broken glass

all new doors (2 exterior 3 interior)

new cabinets and counters in kitchen

new bathroom sink+vanity

This is in South Mississippi and would be using cheaper materials because it’s in a lower class neighborhood. 

If anyone’s able to help I’d really appreciate it. Trying to help a lady avoid foreclosure due to tax delinquency. 

Thank You!

Jared

So I am brand new to Wholesaling and have a house that I am going to see Monday morning, It is 2/1 880sqft. It apparently needs some foundation work (It’s on bricks), it needs central AC, a new roof, and interior updating. From my comps it looks like the home will sell in tip top shape for about 40-48k and rent for $700/mo

She is very close to foreclosure (tax delinquency since 2016) and said “I’ll be happy if I get 10k” which to me probably translates to “I’ll be happy if I just get the tax payoff and save my name from foreclosure”. Mortgage is paid off and taxes are about $1k a year on that property so I assume she owes 3-4K in taxes. 

I’m just not sure if there’s room for profit after repair even if I were to lock it down for only 4K. 

From the details given thus far, can any of you give me any kind of tips or insight? I’d deeply appreciate it :)