All Forum Posts by: Jeremy Pakalka

 I can be your guy!

@Tammy White I am looking for flip and rentals in that area. I will take a look at anything you send me!

@Barbara McArthur That is a tough situation. One the one hand, you are worried about your investment and want to protect it. I might try talking with the landlord next door to try and resolve it peacefully. The other impact is on the person living there. I don't know anything about him but if they are living in those conditions, it might be the only option they have. By reporting it, the landlord might be forced to fix it or kick them out.

I would make sure your insurance is up to date and covers fire damage regardless of the route you choose.

@Heather Harrison When you look at deals for wholesaling, it is the same process. The only thing different, as far as analyzing the deal, is to make sure you get the price low enough that you can make your fee and it is still a good deal for the investor. Since you have insight to what others are buying in certain areas at certain price points, you already have the knowledge to know where your offer needs to be.

The hardest part of wholesaling is not getting the property but rather finding the investor to buy it. Everyone sees deals differently so the better relationship you have with other investors, the better chance of moving a property. I recommend you get one under contract for a modest option fee and time period so you can go through the process once to get a feeling for it.

@Stephanie Ugboaja I would recommend the TREC form but I also recommend you speak with a real estate attorney. It is very important to make sure you completely understand the contract you are sending out. You are looking to spend thousands, if not hundreds of thousands, of dollars and there are small things throughout the contract you have to get correct. For example, are you buying it as-is or are you looking to get a warranty on the house? It should only take one meeting with the attorney to get the facts you need.

@Stephanie Ugboaja You need to submit the offer to either the agent who is listing the property or the owner of the property directly. The best way is by hand so you can discuss the offer in person but email also works. It is all about the relationship you can build.

@Devin Mann It sounds like a bad idea to me. First off, $5 an hour is below minimum wage so I really question who is doing the cold calling for you. Second, no one will ever have the want that you have to succeed in the REI world. I would not want someone else to be responsible for me to make money.

@Heather Harrison It sounds like you are in analysis paralysis. All you can do is look at all the information available and make a decision based upon that information. If a deal fits the criteria you are looking for, pull the trigger. Experience is the best teacher I know. Since it is your first one, I would try to find a deal that doesn't need much work and only needs cosmetic upgrades. This way the rehab is lighter and there is less of a chance of an unknown problem popping up that will cost you lots of money. I would not try to fix a partially burned house for your first project. 

It sounds like you know the business fairly well and you see actual deals other investors are buying. That should give you more confidence since there would be no demand for those deals if they were not good on paper.

@Furqan Qureshi You would need to run the numbers on the monthly cash flow per unit to really analyze this deal. My main concern would be your ability to refinance out of any hard money loan with the foreclosure on your credit. That being said, you can always buy them cash and it will have a much higher cash flow per month. If you are able to make 300 a month after all costs, you will get your money back completely in just over 8 years if you buy them at 30k. 

@Account Closed I have done lots of work with TATCO and the Patten Law Firm here in Houston. I would give them a call and talk with them about funneling all your deals through them. Also, please send me any deals you pick up because I could be a buyer!