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All Forum Posts by: Jonny Mcknight

Jonny Mcknight has started 1 posts and replied 18 times.

Originally posted by @Jonathan Greene:

@Jonny Mcknight "if you want people to take you seriously"

But I don't. You are NOT the buyer nor seller, nor agent. You are a unknown on the internet who decided to comment on a post with nothing meaningful to contribute. I do not care who or who doesn't take me seriously nor do I care about "crediability." I came on these forums to ask two specific questions, I got the answers needed and am enternally grateful for those who answered what was asked and were respectful. Because of them, I got an acccepted offer and I'm enternally grateful. 

As for you, I do not care. I honestly  don't know how many times I need to say that for you to understand. I don't know you, don't wish to know yoiu, don't care what you think, I don't care what adds up for you or doesn't, will never meet nor interact with you in real real life etc. Once my buyer, seller and agent all feel value was added to their lives and thus we can do more deals together along with the title company  having my funds for this deal cleared, I am good. 

You are those who chose to be negative on this posts, are simply irrelevant. I didn't join this forum to make friends or be a part of your negative club. I joined to asked two questions, thankfully there were those who saw through you and answered. To them, MUCH THANKS! As for you, I'm done.  It's really that simple. Good luck to you.

Originally posted by @Derrick E.:
Originally posted by @Jonny Mcknight:
Originally posted by @John Teachout:

What we have here boys and girls is an excellent example of how not to start out in the Bigger Pockets Forums. This is a great place to give and receive advice and information but it's not for everyone.

Actually, minus a few trolls, I got amazing advice and a now an ACCEPTED OFFER, an update. The seller is motivated! Rather, this here boys and girls, is an excellent example of how those who have something positive and sensible to contribute to a thread should be allowed to do so without having those helpful posts be convoluted with other posts that are rude, unwarranted and unhelpful by those with negativity, bitterness and jealously. Those folks should just scroll by and watch as those of us who can get deals done, do so.

THANK YOU SO much to all again who's advice made this offer happen and to others, do yourselves a favor and just leave posts alone that you have nothing of value to contribute to.

Good stuff man. Now that it's under contract, can you share the link to the listing so we can see the deal? Congrats on getting it under contract. How much EM did you have to put down for this particular deal?

I will once the deal is closed! One step at a time and yes, I fully acknowledge I'm doing things in the reverse. Most start off by finding deals, finding buyers and nourishing those relationships. I'm starting off with years of existing nourished relationships and pretty much connecting my network, which is one's net worth! I'm just truly blessed that things have gotten this far! Will keep the community updated! 

Originally posted by @Dan H.:

I will start by stating that I agree with those that indicate your posts seem to demonstrate that you are not ready for this "potential" opportunity.  It either is not an opportunity or if it is an opportunity it likely is not for a first time wholesaler.

Now to your question, you seem to have applied the 70% rule correctly. Here is something about virtually all rules in RE (maybe virtually all math rules): The result is only as good as the inputs. In this case the inputs are the ARV, the cost of rehab (including holding costs), and your wholesale fee. Now something specific about the 70% rule: when the market is hot like it is now, finding 70% rule properties are a challenge. Experienced investors can turn solid profits with higher than 70% offers. Especially this size property does not typically need to meet the 70% rule to be profitable. My market has some rehabbers that can rehab at costs that far less than I can (and I have a fair amount of experience).

Those that are being pessimistic (realistic?) are in their way telling you to be careful.  They fear that you are going to lose a lot of money or time.  

Now for the questions for you to consider: Do you have access the the EM? Do you have a buyers list? Can you close if the buyers are too slow or are willing to lose you EM? If you can close, at what terms and how quick must you close to your buyer to not have holding costs consume your fees? Recognizing that I indicated in this market the 70% rule is tough to find, why do you think this is available? If it is on the MLS, why is there not a plethora of other offers? Do they know something that you do not?

Hill Street Blues: "Lets be careful out there".

Good luck

Dan, I appreciate you! THIS, ladies and gentlemen and how to be critical of a post, yet respectful at the same time! I am glad to answer your questions:

1) Basically this deal was handed to me through connections, BUT connections I WORKED on building! The realtor and I did business years ago, and we kept in contact over the years, holidays, birthdays etc, so naturally when I mentioned I was in real estate investing, there was years of established rapport and trust.  As for the buyer, same situation, we did business in a completely different industry, but again a very healthy amount of trust, good will and rapport was built and when I mentioned I had properties to add to their portfolio, they literally begged me for a deal. 

Disclosure: I completely acknowledge my privilege as most persons who get into wholesaling aren't best friends with both a developer and seller right off the bat. Nor do I want anyone getting started to think this is the case. I got lucky and fully acknowledge that. These just happen to be genuine relationships I built over years, not knowing I would get into wholesaling years later. I hope that info adds a bit more perspective. 

Originally posted by @John Teachout:

What we have here boys and girls is an excellent example of how not to start out in the Bigger Pockets Forums. This is a great place to give and receive advice and information but it's not for everyone.

Actually, minus a few trolls, I got amazing advice and a now an ACCEPTED OFFER, an update. The seller is motivated! Rather, this here boys and girls, is an excellent example of how those who have something positive and sensible to contribute to a thread should be allowed to do so without having those helpful posts be convoluted with other posts that are rude, unwarranted and unhelpful by those with negativity, bitterness and jealously. Those folks should just scroll by and watch as those of us who can get deals done, do so.

THANK YOU SO much to all again who's advice made this offer happen and to others, do yourselves a favor and just leave posts alone that you have nothing of value to contribute to.

@Don Konipol no. 

@Jonathan Greene you still haven't answered the question.

If you would notice, others have contributed to the thread, they offered amazing advice and as a result we had a pleasant and positive exchange and I'm well on the way to securing a deal! You and your minority band of enablers chose to be negative, rude, hostile and you got the same energy back. Perhaps you should stick to playing with your dolls and avoid being a troll on the internet. Scroll, quietly.

@Derrick E. I would counter argue that it's pessimist and doubters who give the industry a horrible name. I appreciate your kind remarks towards the end. As with any deal, the only two people who's opinion matters are the seller and buyer, not trolls on the internet who have nothing to do with the deal and who's approval, beliefs or opinions are NOT needed for it to happen. Thankfully @Jonathan Greene is not the buyer nor seller in this case, that I can gladly confirm!

@Jonathan Greene in one post you claim you don't know me, don't know what I look like and don't know my experience, yet in another post claim to know what I'm capable or not capable of. So which one is it? Do you know me or don't know? Evidently, you demonstrate traits of one who is mentally unstable. 


Based on your new round of unhelpful and unwanted questions, I'll simply say if needed assistance in how to close a deal, could have shown humility and asked, nicely. 

Opposed to spending your weekend replying to the thread of an "unknown" you should be preparing for tomorrow, the first business day of the week and trying to close a deal. Truly, as stated, scroll by, quietly. 

Jonathan, you're three posts in and have yet to answer the specific questions asked At this point it's evident you came on this post to be a condescending troll rather than constructively contribute. It clearly backfired.

Others have responded, offered great advice and because if them I got an offer out with an excited agent and seller, to them I say thank you. To you I say scroll in silence, in case you don't know what this means, it means don't reply.


I'm securing million dollar deals, less talk and more action and perhaps you can too.

@Steve K. The offer is in and the agent is excited about it! Thanks so much again for your thoughtful, helpful and insightful advice and comments. 

@Jonathan Greene in contradistinction to you, I'll keep it classy and simply quote an eloquent writer; “the man who says it cannot be done should not interrupt the man doing it.” Again a word to the "wise"; scroll by, quietly.  

@Steve K. thank you and blessings, very insightful. You've helped tons. The area the house is in, most of the properties have already been "fixed" / rehab'ed and sold. There's literally only two other comparable houses within a 3 mile radius,  that's actually for sale,  both are selling between 3.5 and 4 mill.

Given other homes in the area have not sold recently (I went back as far as 4 years!), and the ones that did were way back in 2014 before my guess is they were fixed / rehab'ed it makes it harder to determine it's true value.

That said, it's definitely a deal given it's one of the last homes, that's not been renovated in the area up for sale.