All Forum Posts by: Josh Sohar

Ken, PM me and I will get you a recommendation! I have some great connections here in Indy

Randy, Back to the comps... wholesalers tend to give misleading comps and lowball estimates on rehab costs to entice buyers. Make sure a trusted Real estate agent runs comps for you, don’t just take the wholesalers word for it :/ I just looked at a deal where the wholesaler gave comps for 3/2 properties when the subject property was a 2/1 etc.... and he was quoting an ARV within $10k of the 3/2 sold prices :/

Joe, Welcome! Indianapolis is a great area for investing. There are a lot of up and coming areas with potential. Feel free to reach out and I can help guide you, or put you in touch with people who can as well! Good luck!

I would call the cable company and ask them what hey found when they were out. No electrician should be needed. We started new cable service a residence recently, and the cable company tested the line, it was dead so they followed it outside and found it was cut in the side yard by someone digging up a small tree. They just ran a brand new line from the box to the house and installed a new coax jack just to be sure it was all working. Not sure what the issue is here.

@reanna hooks Welcome! Glad to see you are fired up and ready to go. I would hope you can find someone to talk to realistically about getting into wholesaling, from the wholesalers I know in my area, they can spend upwards of $2-3k per month in advertising and associated costs. Just something to be aware of! Good luck!!

Shawn Holsapple any ideas?

Not a good deal my man. The numbers are way off. :/ Home is overpriced. Unless you can get the owner to come down in price. Also what’s the condition of the home?

Wait.... so the ARV is less than the asking price?? Why would anyone (including you) pay more than the ARV? The goal is to buy low, sell high? I’m not sure what you’re looking for here?

Joe Papp The numbers look good, and stating conservative is a good thing, never hurts. As others have said, be careful of the inclusive. Get that clause for sure. Also when I think about deals like this, i think about my time as a factor. I have a full time job, 4 kids and a wife that works also. Does the monthly cash flow justify me spending the hours away from my family? (Since you plan on doing the property management yourself) Just another perspective!!! It doesn’t even have to be about family and kids if that’s not your situation, just worth your time in general. Good luck!

@danteforeman While I agree with others on this post about getting your own financial house in order, I do like your enthusiasm and, attitude and willingness to learn. What I would caution you about is the wholesaling idea. Typically it takes quite a bit of time and approx $2-3k+ a month in advertising etc to really get going if you choose that route. Like others have said, finding a partner to help you with from both the lending side and experience side would be optimal. Good luck!