All Forum Posts by: Jeffrey Walker

Thanks for your help

I am looking for contractors to work on my rentals. Are there any roofers from Milwaukee Wisconsin on this forums?

Are there companies that will post bandit signs for cash? I work in Milwaukee Wisconsin. If not what are the best ways to hire someone to post them?

About 25 to 50 in two zip codes. I need them posted late Friday or early Saturday morning and picked up Sunday evening. Will pay 1.00 per sign and a bonus of 250.00 for every deal I close off of those signs.

I need bandit signs posted. Is there anyone in Milwaukee that does that as a business? Or does anyone in Milwaukee know of anyone that will post them for cash?

Thank you so much for your great replies. The reason I put the question out there is because I saw a bootcamp by a Cherif Medawar and another by Sue Nelson and they spoke of assigning contracts. Maybe that is a Better word than wholesaling assignment.Here is the scenerio:

1. I find. Property not being used to its highest and best use.

2. I know of national tenants or at least very credible tenants who would like a space like this one.

3. I show the potential tenants the property and they love it 

4. They give me a letter of intent with terms that drastically increase the value of the property 

Note: As I am sure you guys are aware there is a list of every national retailers wants and requirements for a lease space as well as direct contact information 

5. I get property under contract for current value 

6. I assign that contract to a buyer able to fund the transaction at a profit to myself

7. The end buyer puts the new tenant in the property at a higher and best use thereby realizing a very good long term profit 

That is the idea as I understand it. 

Of course I don't know if that could be reality because I have never done that or even tried it. That is why I am putting it out there to be discussed.

First I want to thank you for responding to my post. Yes that is the biggest obstacle I see also. For instance say I 

1. Find an active and hungry cash buyers that gives me very specific instructions as to what they want.

2. I find a property that fits their needs and then negotiate to make that deal even better for them

3. The seller agrees verbally but wants $50,000 earnest giving me 60 days due diligence and 30 days to close

Do I 

a. Give that information to the cash buyer and let him put up the $50,000 earnest do the due diligence close in the property and trust he gives me the assignment fee in lieu of getting more deals

b. Get a partner or private lender to put up $50000 locking up deal then presenting to cash buyers . This would really be a no risk loan because if the buyer likes the deal I would require he also put up a deposit higher than mine and for a shorter time period. If he buys I pay back loan. If I can't find buyer I don't go thru with deal and pay loan back.

You absolutely raise the biggest concern. Is there a way to fix the problem?

I have a plan that I want analyzed for finding Commercial Investors good deals and me getting the assignment or wholesale fee.

1. Get list of recent cash buyers of commercial property

2. Market to them about how I can benefit them. Get them to contact me.

3. When they contact me I find out exactly what they are looking to buy.

4. I use every marketing tool possible on a daily to find exactly what they want.

5. Talk to sellers and brokers. Analyze the deals.

6. Make offers that create a CURRENT AS IS property value profit of at least 20%. In other words offers made on value of property as it stands today not on pro forma numbers.

6a. Make offers based on what my buyers say they want to pay

7. Get offers accepted

8. Present offers to clients

 9. Close

Based on the real world what are the flaws in my plan? What are the major hurdles I need to cross or have not considered? Is there a better way to accomplish the same things?

Thank you for allowing me to participate.

Jeff