All Forum Posts by: Jeremy Bourgeois

This might be a dumb question but does anyone know how to determine the value of a restaurant?

To give some context, I went to a seller appointment on a distressed property. They bought it as a house, but began renovating to turn it into a restaurant. They didn’t make it very far (thus the reason for said appointment). I am trying to wholesale this deal but am not sure if I should determine my after repair value based off of residential comps or commercial comps. I also have no idea where to find the commercial comps, or just any idea how to run the numbers on a potential new restaurant. Any advice would be greatly appreciated.

Anyone run into a similar situation?

@Moshe Weiss not sure if you are still interested in this area but I live and own property in Putnam. It is a a small city, and has recently seen a few new developments in the town. Some examples currently under construction include a new town hall, a Burger King, gas station, as well as many of the apartment buildings going through full rehabs. There was an 82 unit apartment building finished last year that drove a lot of new faces into the town, and I would consider to be one of the biggest catalysts for change. In most large markets, none of these developments are that big of a deal, except that it is a smaller town that hasn’t seen much change until now. I’d be happy to discuss more if you are still interested, shoot me a pm

I am in negotiations with a seller on a duplex that matches my property criteria. The tenants there aren't on leases and one isn't paying the full rent amount. My ideal situation would be to BRRRR this property and at the current numbers I should be able to pull out all of my cash. I'm wondering how others would proceed with a deal like this?

@Ryan Hazelwood 23 years old. Started this year in February. 1 rental property owned with 4 units. 1 property wholesaled. 1 multi family flipped. 2 properties currently under contract

Hey @Matt Aaron,

If you or whoever you are looking to get the funding for has a service connected disability, you might not have to pay the funding fee at all. Just something to look into if it applies

@Alex Capozzolo Love it! Good combination of low cost marketing strategies.

For all the wholesalers out there.. gonna make this a little game

All progress in your business so far just got reset back to zero. No systems, no leads, no deal flow. All you have is $5,000 to invest to get your business back into full swing. What are you doing?

Hey everyone,

Just wondering if anyone has some insight into good software, CRMs or anything of the like for analytics and accounting (specifically for wholesaling). We are looking to keep track of income, expenses, sales, leads, marketing, basically anything that runs the business in an organized and easy to use manner.

Hey @Roshan Khadka

Welcome to BP and congrats on starting so young! I think these are all great questions but before you tackle any of these, maybe the best question to ask would be why real estate? Why not stocks, or getting a PhD and becoming a doctor or anything else for that matter?

My point is, you need a very strong why to begin pursuing any entrepreneurial endeavor. There will be difficult times and you may work a lot without much for results in the beginning. Now, none of this is said to discourage you. Anyone who has had any success in real estate could tell you that you need to pay your dues before you reach any kind of success.

So break it down from the end goal backwards, and find out exactly what you need to do to reach your end goal. This will determine whether you want to start with rentals, flips, wholesaling, or any of the other strategies out there.

Good luck!

Hey @Account Closed,

I don't believe there is a perfect format. I could be wrong, but I have used several, and my response rate is determined by the genuine sincerity in the letter. Just be very open, don't sugarcoat, and as courteous as you can. What value can you provide him that would make him want to sell you his house? I would make a point of making this clear and identifying what makes you a better quality buyer than the next person who would buy his house

Hope this helps