All Forum Posts by: Josh Malenfant

Definitely let me know how it turns out. A credible wholesaler is invaluable to the business. Good luck. I hope it pans out well for you.

Hello,

My team is looking for wholesalers in the southeast florida region. This includes Miami-Dade, Broward, and Palm Beach counties. If you, or someone you know has the ability to provide solid deals via wholesale, please contact me either by replying to this post, or message.

Wholesalers tend to underestimate rehab cost and overestimate ARV. Solid wholesalers are hard to come by. Investors do not mind paying an assignment fee, especially if the deal makes sense. We are transparent and practice the highest degree of ethics. Also any wholesalers reading this, feel free to put my email on your buyers list.

Hopefully someone will be able to help out with this answer.

As a new investor with no actual hands-on experience. How were some of you able to fund your first deal? Tactics that you used? 

I do not have any family members with loads of money laying around. I know of some people that would lend money, if I had proof that I could perform. 

Thanks for any light you all may be able to shed on this topic. 

Hello all

I am a new investor in south florida. The trouble I have been having is finding other very serious investors. It seems like a great majority of investors fail to pull the trigger, or lack urgency to get deals done quickly. I am not speaking about anyone specifically, just kind of what I noticed. 

Anyone have any advice on what to look for or how to vet investors that are blowing smoke?

@Jeneen Ford @Jason Bott Can someone please send me the information.

@Jason Bott Thanks ill be waiting on it.

@Jason Bott do you cover in Florida. If so please message me the details.

@Nick C. I followed up with the agent today to see if they have set an asking price and he said that they have not yet received a response from the bank. He said he would give me a call as soon as he hears back.

You are right in that the there is not asking price, so how would I know that it would be a great deal. Yes there is a chance that it hits the market overpriced. The only other individual to attend the open house was the neighbor. Not to worried about him. I am not concerned too much about the what ifs. I am attempting to line everything up, so in the case that it does materialize into a deal, that I can in fact execute.

If it does not, then so be it.

I appreciate the response.

Hello Everyone,

I am a new investor looking to do my first deal. I started off by looking in my neighborhood as a means of generating my own farm area. I chose this area because it is strictly a residential area and houses sell very fast. In addition, there are investors that have been buying and selling in the area, which reinforced my belief that my farm area may generate some pretty nice returns. On top of that, I was able to retrieve the data from a realtor of the past 90 day sales, that confirmed my hypothesis that the area is suitable for fix and flip.

With that being said, I found an REO that has been vacant for at least 6-7 years, that is right across the street from me. They just recently had an open house last week, but do not currently have an asking price. Its a 3/2 with several code violations, some mold, termites, roof damage and an infestation of bees on one side of the house. I believe these problems will be great in negotiating a low price.

The problem is that this type of project is advanced. It will take a considerable amount of time and money to get this deal done, but the return will likely be large for any investor willing to take the risk. Since I am new, it would be senseless for me to tackle this project as I have very minimal experience. My mentor is only looking for moderate rehab projects until he has found a trustworthy GC, so that option looks to be dead in the water. I was wondering if there is anyone in the South Florida area that may be interested in doing an advanced rehab project, and would not mind showing me the ropes as we progress through the deal.

I am currently about to complete the Real estate principles course within the next week or so. The other two courses I will be taking next semester are Legal Enivironment of Real Estate & Real Estate Investing. 

These courses are all at the university. Those courses will likely apply more to the investing side, as the Real estate principles course is an introduction into Real Estate itself. The course only touched up on some aspects of the investing side.