All Forum Posts by: Kenneth Germann
Kenneth Germann has started 11 posts and replied 43 times.
Post: Cash flow is king. I had this idea that I am going to be doing when I do flips.
- Posts 45
- Votes 16
You could setup a kitchen and bathroom remodeling business in the area you are doing flips for additional cash flow to your business. You are already doing kitchen and bathroom remodeling in your flips. You could offer this as a service to the communities you are in to generate extra cash flow. There are services that will send you kitchen and bathroom rehab leads...
Quote from @Kenneth Germann:
The earnest money gets paid to the title company. You'll get the earnest money back at closing. If you need an earnest money loan, Ping me. I can give you a list of earnest money lenders. Most realtors I deal with recommend 1% earnest money to their clients/sellers. The earnest money never goes to the actual seller. If they are asking the money get sent to them, Its a scam
Quote from @Heather Morales:
Quote from @Heather Morales:
Quote from @Ruth S.:
Did anyone end up using this service? I'm also looking into them as well.
You can upgrade to the gold package with them so the skip tracing is included. Be smart about what package you choose to purchase.
The earnest money gets paid to the title company. You'll get the earnest money back at closing. If you need an earnest money loan, Ping me. I can give you a list of earnest money lenders. Most realtors I deal with recommend 1% earnest money to their clients/sellers. The earnest money never goes to the actual seller. If they are asking the money get sent to them, Its a scam
Post: I have a question on making offers for some wholesale deals.
- Posts 45
- Votes 16
Quote from @Doug Smith:
We don't use percentages at all in our calculations. We start with the ARV and back into the target price we're willing to pay by subtracting out the rehab budget, contingency reserve, profit margin, buy and sell side closing costs, and holding costs for the time value of money. In your post, there's not enough information to answer your question.
Let me make another point regarding our investment, we're getting very, very few deals from wholesalers that work for our metrics. Many are getting really, really greedy and not leaving enough meat on the bone for us to consider a buy. I honestly don't care how much the wholesaler makes on a deal, but you have to ensure that a good operator that you're trying to sell a deal had enough meat on the bone to make it make sense for them.
Post: I have a question on making offers for some wholesale deals.
- Posts 45
- Votes 16
I noticed in a market I am in that there are several properties that are listed in the MLS that are below the comp values. They don't appear to require any repairs. Example is the comps come out at 310k. They are asking 200k. At a 75% discount This comes out to 225k. I could get a 25k assignment fee .My question is do I try to go after these properties? Are there any issues with this strategy?
Post: Investment Friendly Title Company or Attorney in Wichita KS
- Posts 45
- Votes 16
Quote from @Nicole Harmon:
Any Referrals or Recommendations on Investment Friendly Title Companies, who have experience with Wholesaling.
-In or around Wichita KS
Meridian Title is better and faster than Kansas Secure Title. KS Title takes 3 to 4 weeks. Meridian takes a week. Talk to Amy Jolly at Meridian Title. There fees are lower than Kansas Secure Title as well. [email protected]
Quote from @John A.:
Would I be able to do a double close? From what I'm reading that is what most wholesalers do
Double Close vs. Assignment depends on the laws in that state and who is paying the closing costs. Most wholesalers I know do assignments :)
Post: I buy properties in 142 counties in the United States
- Posts 45
- Votes 16
You can find the list of counties here:
https://docs.google.com/document/d/1Xi_n2WiCrM168wKxsMYVMEPW...
My buy box is
Single Family
2+ beds
1+ bathrooms. 2 Bathrooms preferred.
1+ car garage - detached/attached
1000+ sq feet
No Pool
Repairs no higher than $50,000.
Cosmetic and mechanical repairs are ok.
No Structural Damage
1965+ for age.
No higher than 350k.
No California or Hawaii.
Properties are selling within 90 days or less in the neighborhood.
No JVs with other wholesalers. I only deal with one seller.
I can buy 5 to 7 properties a month in the 142 counties.
When you are calculating ARV and determining comps,
Properties sold within the last 90 days within one mile of the subject property within the neighborhood.
+/- 10% on sq feet
+/- 12 years on age
If you have a property you are looking to sell, You can email me at [email protected]. We can set a meeting to discuss the property to see if we can make a deal. If my offer is accepted, we can close within 14 business days or less.
Post: Agent/Wholesaler Looking to connect with buyers in FL.
- Posts 45
- Votes 16
Quote from @Kenneth Germann:
My market is 800 cities in the US. I have buyers that buy in 800 cities :) I am not limited to a specific geographic location. I won't do California or Hawaii.