All Forum Posts by: Jonathan Greene

First of all, thank you for being the person who is smart enough to know they can't just get into wholesaling to start with no capital. This is a great way to learn. No matter what anyone thinks about wholesaling in general, this is a great way to get your feet wet and to understand and learn acquisition. But remember, it's not about the deal, it's about the people. If you focus on the people, you will get way more deals done.

I agree that the motivation and problem is the core, but the first question is always where are you going when we come to a win-win agreement for you to sell me your house. There is a problem, but they always need somewhere to go and will never sell until that is clear and the path is set. You have to help with that to make deals happen.

The actual offer is less important than most people think. You have to remember that wholesaling companies just send you into the room, but when you get there, every seller is different. Heir, preforeclosure, foreclosure, divorce, absentee, rundown, can't keep up with maintenance, overdue taxes and liens, the list is endless.

Don't try to force an offer on them, get to know them and keep following up. That is it.

Yes, I think the name looms large, but that's why I gave the five traits which explain it in pretty good detail and go to what you are saying as well. The name is really to emphasize the non-cheerleader aspect.

It has to be shocking just for the examples you gave. A lot (not all) of new people are so eager, but this is a bad time to be eager with high rates and low inventory across the country. I like how you ended your reply, too.

I would say no-pitch meetups over a year would be the best possible chance to find someone who can be a voice of reason in your investing life if you don't have one. What do you think?

The license (if you aren't going to use it to sell) is worth it for access to the MLS and access to dumps the first day they on the market. I personally think it's worth it. Your total spend might be like $1,500/year on everything from brokerage to MLS to boards. There is no other way to get correct comps unless you know an agent who knows how to really run comps. If you know you want to flip, you can go to meetups and see what agent newer flippers use to list or buy with.

There are a million ways you could go with it, but your first thought I would say isn't grounded in evidence (a video on BP). So start with the goal. What does a cash positive investment mean to you? Do you need cash flow from it for income or will light to no cash flow work if you can groundswell appreciation on a good asset? Where do you live and how far would you want to travel to manage the property? If you don't want to manage the property at all, you are losing money on the management when small scale management is not hard at all with a little help. Also, if your wife and her parents were the real estate investors first, why aren't they weighing in?

Nothing is better than MLS access for before-renovation comps and ARV. Any other major syndication site has restricted sold data so it will be incomplete. So, it's either get your real estate license or have a really good friend who will list them for you who wants to look them up (but most agents don't know what they are doing and do it wrong).

I am a peer group facilitator for a new cohort of experienced real estate agents seeking peer mentorship, industry-specific coaching & lifestyle architecture. I look at this new option through Forum as coaching meets real estate therapy meets collaboration.

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This group is designed for experienced real estate agents seeking meaningful connections with peers unsatisfied with the status quo. Here, you'll find camaraderie, accountability, and a unique perspective as you navigate the challenges and opportunities of a competitive market. Together, we will focus on adapting to an ever-changing industry and lifestyle architecture - creating the life you want and finding the freedom you seek. You’ll gain expert advice, elite coaching, and the support of a network as committed to growth as you are. Brokerages are an umbrella; this group is your space to share, learn, and thrive.

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When

Every Wednesday from 10 - 11 AM EST. It starts on January 8th. We have 6 of the 12 seats filled already and will open new groups after this one fills. Eventually, as the groups grow, I expect to niche them a little and move people around.

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$175 per month (ask me for a discount code if you saw it on BP)

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Welcome. The unfortunate reality is that the BRRRR book made a lot of sense when it was published, but with the high rates now, BRRRR is much harder to accomplish. It definitely would be near impossible in Utah.

I wouldn't buy under 50k without any experience. That's most likely going to be a C- neighborhood or lower so there could be more perceived scale to BRRRR, but a tougher decision on how to renovate at that price point and possibly harder tenancies.

I would get to real estate investor meetups in your area. I know a lot of spots in Utah have very good REIAs. Do that for six months while you save more before making a decision on what to do, especially on doing it out-of-state. A new person doing an OOS BRRRR right now is ripe for a loss.

Great last point. It's not net negative if you are living for less than you would pay for rent...and PS, you wouldn't be earning appreciation or any cash flow on that either.

Yeah. Investors may like the income on the spreadsheet, but the appraiser for a traditional loan won't care. That's an interesting point, though because for DSCR loans it would help, no?