All Forum Posts by: Ken Morris

@manuel angeles did you get the other wholesaler to sign a contract? when you cowholesaled? 

What kind of partnership are you looking for?

alright BP community I'm currently trying to figure out how much I should estimate for the holding and transaction costs for wholesale deals? What do y'all usually estimate for this figure. I was reading the wholesale bible and it said 20% of the ARV for these costs and that seemed like an absurd amount to estimate. I'm still a newbie and trying to get my first deal done. So help me out guys. Thanks.

Scared money doesn't make money.

Hey BP community I am trying to wholesale my first deal in Richmond Virginia. I have found the property and I have spoken with the owner and my inspector will be looking at the property this Saturday. Now my agent got me to sign the remax buyers agreement but now she just sent me a text saying that she would like me to add in another 1000 into the negotiation for commission since the property is a FSBO. She said since it is not on the market there is no commission offered and that we would have to work it in. Does this sound right to y'all?

@Jermaine HILL let's connect I go to VCU and have grown up in Mechanicsville and I'm working with my mentor and she is teaching me how to make it all work within Richmond. If you want to connect hit me up on my cell. I have the number posted on my account profile. 

Maintenance- As of now I feel maintenance requests are the only aspect I would really like to experiment with. With a growing number of tenants, keeping up with what tenants request and don't (what we schedule vs. tenants) gets a little tough. Investing in a system that would allow tenants to request, provide a time and day/schedule options for us to send someone, and confirm that the request was complete along with feedback, I think would really streamline our maintenance and impress tenants/be a cool selling tool. Does anyone have any suggestion or systems that would help me? (This request comes from my property manager).

Man this is good to hear someone doing exactly what I will be doing to get into REI. I'm glad everything went well for you. I will be connecting with you because I have a ton of questions; hope you won't mind..

Welcome to the site! I have plans to create and establish nonprofit organizations too.

@Mehran K.  Thanks for the quick reply! So how would you determine if a property is good or not before getting it under contract? Would you then just have to rely upon the pro-forma?