All Forum Posts by: Jose Jacob

Its all depends on that person's situation.  Does that person has an other job ?   Everyone looking for money to survive. If you don't pay  well, that person might look for an other way to earn more money.  Your job is to make that person happy.  Have an open conversation with that person.  You may pay % of the sales if you don't want to pay hourly. But make sure that person is happy with it.  

 Thank You Jack.  An other one on the way

Some States requires a RE license for wholesalers. some dont.  Holding a RE license comes with lot of responsibilities and disclosures.  I am a flipper and an Associated broker. When I buy and sell my flips, I always use other brokers.  I never use my license to get extra money from the deal that where you will get in trouble.  Make sure you make full disclosure When u hold a license and if you are wholesaling. Disclosure.... Disclosure... Disclosure...  that is the key

 Scott,

Competition is everywhere.  You have to know the market and the numbers. Try to get off market properties and do the numbers right.  I am doing flipping in New York for last 7 years. I build my own crew for rehab. It is very hard at first and second or even third time.  you will get a hang of it.  Hang in there.  You will make it.  Oh, pulling permit is also depends on the township.  Some reno need permit and some dont need it.  Contact your township officials to find out.  

Good Luck

Experience is the best teacher. I went with a contractor to buy materials for the first three to four properties I flipped in the beginning. No I can walk into a property and get an estimate pretty quick. May areas you can save money by doing just painting, But there are some online tools there to help you to get an average. You can just type the square footage of the bathroom and get an estimate for reno. I will call couple of GC and get three estimate in your case rather than going through all these hassle. Its easy to loose money on a fix&Flip if you don't estimate the Reno cost properly. BRRRR is an entirely different case.

Good Luck

 Nice Job.  So Lucky to get properties for that low price.  

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $450,000
Cash invested: $150000
Sale price: $720,000

Property was an estate sale brought by one of the Agent in my network. Needed a full Reno. Put new kitchen, 2 new bathrooms and skin coated the entire house. Replaced paneling. Reinstated the floor. New tiles.

Everything comes with hard work and risks.  Can anyone tell me  how to make money without risk and hard work.  I wud like to know :)   Just like every other strategies, Sub-to has its own pros and cons and it is very hard to convince the seller like everything else. 

Listen to Pace's podcast in BP.  You can see how hard he worked.  

Good luck out there

 This is not a SALE, its a deed transfer subject to. Attorney will work around it by wording it correctly.  

 Bank may take an authorization from the seller to discuss loan with you.  This is what one of the Attrny I spoke to suggested.