All Forum Posts by: Jarvis Smith

is this a serious question?

my advice would be to read through previous posts and all of the great educational content on this site before you jump right in. Good luck 

@James Marszalek I'm in the same boat. I've been trying to pick up some deals from wholesalers in the Tacoma or south King county area for a couple months now. I would say 90% of the deals that have gotten presented to me don't pencil out one bit and they are asking for 10-15k assignment fees. They may be new wholesalers I'm just shocked if people are actually buying these deals. At best most of them are break evens or maybe profit 10k or so. 40k profit would be extremely hard to find from a wholesaler in my opinion. I'm starting my own mail campaign Monday. We'll see how that goes.

Just sold a flip in Tacoma last month. Would love to network with investors and lenders in the area for more deals. Looking forward to it!

@Joel Cummings ohh ok I understand now. I will PM you with lenders I have connected with for 10% down. I'd love to know who you have connected with as well I'm always looking to add to my list of connections!

I know several hard money lenders. I'm not understanding what you are asking? Of course you can use a HELOC for the down payment. how much down can you afford? most lenders I know only require 10% down. so that 10% would come from your equity line

I did two flips last year which was my first year full time. The best advice is to give yourself about 50% contingency on the first one. I know This sounds extreme but rehab costs add up very quickly. Also always have extra money in the bank for living costs and unexpected costs. 

there will always be buyers if the deal is good. Finding the deals is the hardest part of this business. 

@Mike McCarthy

Thanks for your response those are great options. 

I will refer my friend to this post

@Isaac Feil

Hey! Welcome to the forums I too live in Burien and do flips in the area. Very hot market and lots of money to be made. Keep me in mind when you start wholesaling. Good luck!