All Forum Posts by: Kathleen Miles

 I completely get both, thanks

Thanks Jacob, William and David for the support and sound advice. I really appreciate it.

 Thanks for the input and feedback Will. I really appreciate it.

Owen, im new to wholesaling but i think you are absolutely correct. It is the relationship between the two and knowing that the wholesaler is actually looking for deals that will work for you, saving you time and money, that is what adds value.

The example Henry gave is great, and unfortunately im already seeing similar examples. As a wholesaler i need to really review and when appropriate supplement the comps with additional information i have found. Thank for laying it out there.

of course i would provide the ARV i believe to be correct and that i used for my calculations.

I really appreciate this discussion as buyer beware but also because value is afforded by you to wholesalers who do their due diligence. 

As someone new, i am generally thinking from a position of the good, the bad, and the ugly for starters, 10K 20K 30K to judge whether a property worth pursuing. Then actually running the numbers for all the work i see as needed based on area material and labor costs. And finally, for a house put under contract paying a contractor do an actual estimate for either flip or hold for my buyers who have given me their criteria. 

My goal is to provide value to the market, giving inaccurate rehab estimates isnt going to serve my buyers or me if i want to continue to do business (or sleep at night).

So far comps, even from realtors are iffy, in part because of the wild fluxuations and uncertainty in the market. I think providing the actual comps being used and any discussion about the values in the area to my buyers so they can judge for themselves what the ARV is would be the best approach.

Does my strategy have merit from a buyers perspective?

 And a wholesaler should know what their buyer is looking for buy and flip or hold two totally different jobs, otherwise the repair estimates will always be all wrong.

Thanks JScott!

Sarah, surely the agent you speak of is operating in an unethical manner. But as to price, buyers (investors and contractors) typically try to negotiate their best deal to make a profit at resale, and baring unethical behavior, the seller has to accept the deal and will only if the deal is worth it to them. I have bought and sold personal and estate property, i have been a landlord. When it came to selling the property i had to weigh the offer and decide if it was a good enough for me.

James if i was trying to be a real estate agent i wouldnt be coming to one to facilitate the deals. I worked a lifetime in a true service profession, which i see REAs as. Its an admirable profession, but its just not what i want to do in my second life. Im simply looking for a bridge to the world of "real" investing with capital to do buy and sell and buy and hold deals. I had simply hoped to find an understanding of the issues and relationships, real or perceived, which i have found; and some resources with which to move forward.

Thank you all for candid input. I think we all have to continue to change and reinvent ourselves to survive and prosper.