All Forum Posts by: Kenneth Germann

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...

 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

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?

 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]

 Double Close vs. Assignment depends on the laws in that state and who is paying the closing costs. Most wholesalers I know do assignments :) 

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.