All Forum Posts by: Jim Pellerin

I was just curious if somebody has a better way to find comparable properties online for free other than Zillow or realtor? After a property is sold on Zillow I can't look at the picture's of anything on the inside if anyone has a better option that would be much appreciated!

I like Deakcheck. Theres a free version and a very inexpensive entry level version. I find it gives me a great selection of comparibles and a nice report to show the investors.

0 Votes

Rochester, Minnesota

Quote from @Walter Correia:

Anyone know if there’s a section in BP where investors can share their deal with other investors for consideration?

You can post it in classifieds.

1 Vote

Quote from @Tyler Clark:

Hi everyone!

My name is Tyler Clark and I am a noob on investing in real estate. I have been listening to the real estate rookie podcast for over a year now and chose to get my real estate license. I am preparing to find wholesale deals, but I am curious, what do you, as an investor want in your ideal wholesaler? I truly want to be the best, and create win-win deals for all. Thanks for commenting!

The short answer is that investors want good deals that are aligned with their investment criteria.

They want a realistic ARV with accompanying comps.

They want realistic reno costs.

They want a purchase price that will allow them to make a minimum of 15% cash on cash return.

In summary, they want a partner they can trust so they don't always have to be checking your numbers.

5 Votes

The challenge with SFH as rentals is that it will be a while before you see any significant return on ur investment.

With REITs, Private Equity LP investments, etc. you can start making money in as little as 1 week.

0 Votes

Quote from @Linda May Wacker:

If I want to market outside my area, is an out-of-state area code a marketing deterrent? Do I need a virtual assistant or answering service with a local area code for my marketing materials?

What is your investment strategy?

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I just get the owner to notify the lender that the funds will now be coming out this account. The lender doesn't need to know what the relationship between you and the owner.

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No limit. Shareholders contribution.

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Quote from @Jon Lam:

Was curious if you all would find value in a financing product that allows you to receive rent payments upfront (say 10 months of rent on a 1-year lease), and if so, what interest rate you'd be willing to pay on such product. What would you use the 10 months of upfront rent for?

This question was asked once before and my answer is still the same. If the property has a mortgage on it, it doesnt really provide any value to me. The monthly rent payments I receive goes towards paying my mortgage, taxes insurance and any other costs. If there is a positive cash flow that would be eaten up by the interest on this advance. So I wouldn't be interested.

0 Votes

Quote from @Cody Revel:

Has anyone every had success with Batchleads or other Real-estate websites that provide off-market leads?

Thank you,

I have looked at Batchleads, Propstream, Flipster and others, without much success. Keep in mind, other subscribers of these services are looking at the same deals as you. So you wont be the only one contacting the now irritated owner.

0 Votes

Quote from @Richard Loniewski:

I use the simple formula first: ARV x .7 - repairs = Max offer

If that passes I use Deal Check (simple and if you add in the numbers) it will give you all the details. I use all the time for flips and holds, very customizable. Great tool. I don't have time to go through all the math! LOL

I love deal check. Very affordable and lots of value.

1 Vote

All Forum Posts by: Jim Pellerin

Jim Pellerin has started 8 posts and replied 870 times.

Post: How to Calculate Comparables

Post: Raising Capital for multi family apartments

Post: What Do Investors NEED In Their Ideal Wholesaler?

Post: Rental Properties vs REIT/Real Estate ETF

Post: Long distance marketing

Post: Who actually pays the mortgage in a contract for deed situation?

Post: How much money can I transfer to my LLC legally?

Post: Valuable to get rent payments upfront?

Post: Best place for off-market deals? I.e., Batchleads?

Post: Beginning Investor. Help with numbers