All Forum Posts by: Kevin Scott

@Daniel Cejas Feel free to message me if you want.  I know some people there but I don't mind giving going over how we operate.  We aren't wholesalers but we do buy discounted properties in multiple markets which is what you are looking for.

I can probably save you a lot of money and give you at least a good head start.  No reason to split a deal.  If you get a deal give me an opportunity to buy it.

@Brendan Lawrence I think his videos were a while back and I believe he also has a video on using price per sq ft which is a little better. Plus I think it's geared towards wholesalers so they at least account for something in their offers.

Of course, each market is a little different. I use sq ft unit pricing in Washington and it gets me close enough to make a buying decision.

Prior to lumber going way up, we did an almost full gut in Chehalis for around 60k and one in Tacoma that was mid-level for around 30k. But the Chehalis house was small (1300 sq ft).

It was one of the first projects we did after we stopped doing the rehabs several years back (went to just buying and reselling or listing most properties) but most of our subcontractors were still around from when we were doing a lot more volume. Typically our unit pricing was known for most of the areas we are in prior to buying which obviously helps. Exception of demo, electrical, and plumbing which I either get a quick rough estimate or use a past job.

Chehalis was an extremely rough hoarder house that I didn't get to go into prior to buying so assumed the worst and it was worse than that :) but it was right around 60k regardless.  Current material prices would probably raise the cost by around 4 to 5k more. 1/3 of the extra material because the roof needed to be fully re-sheeted. 

Work involved:

3/4 of house new drywall and all interior paint

Floors throughout

Roof and sheeting

1/2 the siding 1/4 of the exterior trim and all exterior paint

All new windows and doors

All new electrical, 1/2 new plumbing (all new fixtures)

All interior trim and new dividing wall 

Tile shower and backsplashes

New kitchen and appliances

Massive amount of garbage and demo and light landscaping (plus a shed removal)

I worked with and helped a new GC on this so I am not including his markup but it was small as he wanted me to show him how to approach this and we pretty much scheduled all the subs and gave him their info to use on his own projects. Future projects with the same GC are guaranteed profit lower margins plus other incentives.

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@Robert Jones Welcome,  Feel free to reach out anytime you have a question. Im pretty much an open book and we have done most forms of residential real estate up to 4 units.

@Justin Pierce let me know if you have luck with a va.  Whether you use bob in the thread or someone else.  We have used a couple, and mostly we do in house now with one external caller from call motivated sellers which has been pretty good.

Is that hit rate or accuracy?  Still good numbers either way.  Just thought Id ask. 

@Austin Bright  those are good numbers if it is accuracy at that price.  Are they  bulk or one off skips.  

@Justin Pierce  Are you going to be cold calling too?  I have my own built in texting, rvm, direct mail platform (internal use only) but we don't really use the texting or rvm anymore except for existing clients or buyer.  

That being said I can still get you hooked up with numbers and emails.  How many are you doing?

Correct many title companies won't.  I believe I have bought from a few wholesalers that had separate huds so it's possible.  If I remember correctly fidelity was one of the title companies I had that experience with.  The others would be smaller local and unless you are in Washington they won't do you any good.

@Mario Gonzalez have you considered off-market purchases?  You aren't buying a ton of properties (yet) but it is probably enough to set up some off-market lead flow.  Or at least check out the wholesalers in the areas you are looking and see how many do small multi.

It might be just as tough as the MLS but worth giving it a shot, it might save you a bunch. I normally wouldn't tell people to go that route without knowing they could refinance out of the hard money or private money but with your savings and credit it seems like it would be worth considering.

I'll message u my info.