All Forum Posts by: Jackie Pyle

And I want to add... By the way little Banker us Investors will always find a way to make a profit! That's the American Way!

You read the title right! Closing scheduled today on a very reasonably priced 3 Bed 2 Bath, we owned more than 6 months, buyers had great credit AND a down payment, and YESTERDAY the buyers bank, W* F*, tells our client that since we would not disclose OUR purchase price they won't close. Then went on further to say that we were not ALLOWED to make a profit. Ok, to begin with, I don't know about the rest of you guys, but here in Missouri our profits are not 100k per house like on TV. Not even close! But not that it's any of the buyers or their banks business. Oh, and by the way, do they make a profit on the loan? It's like asking the ditch digger to dig the ditch for free! And they had this issue a week ago and killed the deal just yesterday. All I can say is I feel sorry for the fella who made the comment at that bank that we were not ALLOWED to make any profit on our houses because he will be stuck in that miserable job or one just like it for the rest of his miserable little life. Sorry for the rant fellow investors but ya know sometimes.... Sheesh

Your Welcome Scott. If you have any questions please feel free to pm me. We have lots of experience in small markets.

@ Bill G. And Bill if you are brave enough to bike down here I'll buy the Pizza Cellar! And then we will load your bike up in the pickup truck and cart you back to Springfield if you haven't had a heart attack from the hills on the way down, that is! Lol!

Hi Scott, Jackie Pyle from the Branson Missouri area here. You came to the right place! If you see Bill Gulley posting on your question you can bet he has a great answer and I would seriously consider what he says.

We invest in a small towns and do pretty well with them. Time on market is a little longer but quality for $ is better. It's always nice to be able to sell something to folks that will hold up. As for the market get yourself a good realtor and have them do a little research for you. You need to know that there is a buyer for your homes first. Wholesaling sounds great but in a small market you have to take a multi-pronged approach. I know there is a lot of info on here but be sure to look at this thread; The Truth About Wholesaling

http://www.biggerpockets.com/forums/93/topics/58383-the-truth-about-wholesaling-

@Jon Klaus, I would agree Jon. And you don't have to become a realtor for someone else either. But the knowledge, connections and experience that come with it are invaluable. Personally I have a realtor that I have used for a long time but not every realtor is as flexable as she is. She will help me even if she is not making money on the deal because she knows I am her bread and butter client. Whenever I can I buy and sell through her. She has birddogged many a deal for me and kept me out of hot water a time or two as well.

P.S. I love my Realtor and my Appraiser!

I saw that Jon and thought it was a great idea to suggest to any newbie looking to make "easy deals" with wholesaling. The gurus make it sound as simple as advertising the houses but as any experienced builder, rehabber, flipper, real estate investor, wholesaler can tell you #1 you have to know your market & #2 you have to know your market & oh, by the way #3 you have to know your market. And those hidden repairs can come back to haunt you too!

Ahhhh..... Zillow. Yes. Hmmm.... Joshua, have you thought about becoming a realtor? Doesn't take much and you get much more accurate data. Or do you know an area appraiser? You would get much more accurate data. I have said this before, wholesaling is about your connections and knowledge of your market. Put one or two non-deals out there and your wholesaling buisness is done. Have you checked out this thread about wholesaling?

http://www.biggerpockets.com/forums/93/topics/58383-the-truth-about-wholesaling-

It says it all.

Hi Shane! Good question. Wholesaling is really about connections. If you have not developed those connections yet rehabing and flipping can help you to get there. In our market wholesale deals are far and few between but if you know the right people you can sprinkle those in between your flipping deals and make a decent profit. And be aware that while working either avenue your first few deals may not make you much if anything. But the knowledge gained is priceless. As in all investments there is risk and sometimes that risk comes back to bite you in the butt. You must be financially prepared for that. Don't be spendin' your lunch money or you might go without. But don't sit on the sidelines because you have no money either. Lots of ways to raise capital you know. Start small and build big, that's my motto.

I vote for Branson, Missouri! It's in the middle of the country and it would only take ME 10 minutes to get there! (guess I am just thinking of myself;) We have a new convention center too.