All Forum Posts by: Josh Sanders

Wow, guess parents of children pre-disposed to RE investing were not that original in name choices! Jon did get back to me. I need to pay attention to what the topic of the forum is next time, but Jon was nice enough to move the post to the correct local.

My post announcing my new membership and asking a question about Birdogging/wholeselling was deleted from the the starting out forum. I read the forum rules, and although I am sure I missed something, I can't see where I posted in error. Can you please advise?

Josh

Jessica, I have found that when selling to retail buyers you have three groups. Those who have zero vision, and will expect a turnkey updated home. Those that know they can't afford a turnkey, have vision, and are willing to accept flaws for a deal. And finally those who are considering both. The last group can afford the turnkey, but have vision, and will consider and ugly deal, knowing they can quickly update the home to a condition as good or superior to your competition, but for less overall money. You have to determine what group(s) your targeting, and price your home accordingly. If it's the trun key crowd, your home must be nicier than the comps, and selling for the same or less to get noticed. If it's the other two, you can avoid the updating, but your price has to reflect it, and it should be advertised as the fixer oppertunity it is. My 2 cents.

Josh

Hey everyone! I am new to the forum, but have been investing in RE for about 2 years now. My realtor suggested I find a site like this one to hone my skills, and develop new contacts, and I have been very impressed with the knowledge found here. I started out with rentals, and have done 2 flips in the last 24 months. I am very interested in the terms wholesaling or birdogging and the differences between the two. My next project is to take the success we have had buying rentals, re-habbing them, and keeping them rented, and trying to replicate it on a larger scale. In my mind the goal is to find investors who are looking for bundled rentals that cash flow now. I would purchase, re-hab, and get the first 12 mos lease signed, then would want to bundle the units and sale them together. Would this be considered whoelsaling, birddogging, stupidity, or what? My realtor is currently packaging units like this for investors in California interested in Texas rentals, and she directed me to get out and do my research. Thanks for any help, congrats on not letting this blip on the economic radar screen deter you, and good luck to all!

Josh

First good luck on building your business and congrats for getting out there buying low which ever route you take. We are currently doing both renatls and flips. One of the best rental lessons I have learned is don't fear students. We are in a college community and although maint. is higher due to their lack of home ownership experience, students tend to be well funded (parents). In our area of Texas, college students pay higher rents, and as long as you time your leases to coincide with the academic calendar, we never have issues staying rented. It also helps to have a gimic, and advertise such in the college paper. We provide a 50"plasma in every unit. That line item alone is like a neon sign in the college want ads. There is nothing a college kid will tke care of better there than TV, and it's been the best $1k we have spent in pre-lease improvements.

Josh