All Forum Posts by: Jerome Klah

I'm researching several methods of determining ARV for properties in my area and came accross a site called homesnap, which also has a mobile app.

Has anyone else heard of this site and actually tried using their estimates? The numbers seem relatively high for the properties in my area but I'm not quite sure because they have comps on the same street that are in the same range of values.

Any help would be great.
Thanks,

You guys are a lot of help. It certainly makes plenty of sense now that I'm able to think of it as providing a service to someone in need. I am going to incorporate this mindset into every deal that I come across and hopefully make a smooth transaction.

Thanks guys,

Jerome

Mary B.

Hm..it's starting to make sense.
so in the case of negotiating with a seller, how would you rephrase that in a more simpler term without coming off as a loan officer and throwing the sell off. Just in case the seller becomes curious asks how I derived at my numbers.

Mary B.

Wow, I couldn't help but notice you're from Lansdowne. I grew up around the corner in UD.

I guess you're right though, there's nothing that can really be done about it. They say they're plan is to rebuild the housing market and eventually add value to the homes in the area. Sounds like a sound plan for the local economy but not really a desirable one for wholesalers and other smaller investors that make a living with the profession.

For a novice investor/wholesaler, I am curious to fully understand the concept of the 70% ARV rule. I think I know the jist of it which is being able to buy a property at a discount, or cents on a dollar. But..how do you relate this to a seller who is trying to sell their property and not feel like they're being "low balled" by a lower than expected offer? How do you create a Win Win for you and the seller?

I have spent countless amount of hours reading on the topic wholesaling and can easily say that I've read almost everything there is to know at least 5 times but have yet to read about how someone would relate the %ARV concept to a seller and still create a win win situation for all parties involved in the deal.

Also, I've been on Biggerpockets for two days now and practically read every post on the topic of wholesaling and I have to say that there is a great deal of very talented investors who are willing to share invaluable information with novice investors like myself. (A broke novice at that). It makes hiring a coach the worst financial decision a man can make. I now have hundreds of mentors available at my fingertips, as opposed to one or two and I don't have to be an experienced investor to know that without the knowledge, I will not have any deals coming my way any time soon.

I've decided to cool off the reading and take action first thing on Monday. I've already done some grunt work to find some sellers and I am also building a list of potential buyers in my market area. I must say I have full confidence as well as the knowledge to get this boat on the water.

Thanks,

Keep up the good work guys, knowledge is power.

Is anyone familiar with the Atlanta Fulton County market as far as wholesaling properties? I read a recent news article and learned that wholesaling in the Atlanta market is decreasing due to big name investment firms coming in and outbidding wholesalers for various types of properties with using tremendous bank accounts. Even though they focused mainly on foreclosures, these companies were also looking to rake the market of all abandoned homes in the city which is a big market for wholesalers like myself who want to get started right away.

As somebody that is ready to jump into the RE market of Atlanta ASAP, I tried to not let it discourage me from doing one of the few things that I've been really excited about in a long time. With that said, i guess my only question is does anybody know of any areas in Atlanta that they would consider a preferred location(s) for wholesalers? zip codes will help a lot.

Thanks.