All Forum Posts by: Lashinda Winters

looks like I lost out on my first deal I asked owners to go down to $85K because I had a buyer and the homeowners are mad at me basically told me good luck and good riddings

@Tim G. I do go to networking events here and I started out in a promising mentor situation with someone who did buy and flips but left the market in 2008 but has 're entered investing as a wholesaler and landlord. I went out with her almost daily to look at pre foreclosures and driving for leads. I've learned about estimating rehab costs from this as well. From the day that I got this deal under contract our contact has decreased immensely and I fill that I have been left out to dry. Might be time to meet other people to help me out. Unfortunately most mentors cost significantly. She did not cost at all.

thanks everyone for all of the great suggestions. Any advice on how to position a subject to or lowering the price to the homeowner at this stage in the game?

@Tim G. Thank you so much for the encouraging words and ideas. This has kept me up every night and I work on it all day. I certainly want to keep my word to the seller. I have lowered the price and at this pointy assignment fee is $1,000 and I'm willing to go down even still. I think my next step is your suggestion to call landlords and then I may have to ask homeowners for a reduction. Didn't know thy was an option thanks!

I was bird dogging for someone I thought was a mentor and up to this point have learned some things from but my whole objective was to wholesale on my own when I brought her this deal we looked at the home together an we decided to co wholesale it. She had me do negotiations to gain experience we were trying to get it for $88K but I couldn't reach her and I know now I went to high on agreeing but also 3 days later during contact signing I was to show up and learn how to put the homeowner under contract but 10 min before the appointment she cancelled on me and I took action and did the contract myself. Now I am marketing alone and although we still talk she has offered little help with this property. I am trying to do the best I can to complete the transaction and move on.

@Jon Holdman I do have it on Craigslist and postlets my house deals, Facebook and my own personal web page...there is an investor email group I am apart of with hundred of investors emailed it to all of them. I have gotten several calls on it and 1 showing I've had 3 offers $70K $75K an $87K..owner pay off $90K I have it under contract for $93K rookie mistake but with it being move in ready I thought it might sell.

@K. Marie Poe the home is in good shape in a good neighborhood A couple of the walls may need sheet rock up dating because of a crack in it I have a copy of the homeowners lifetime warranty for foundation work but no visible foundation needed except those 2 small cracks I mentioned...my thought about owner finance was not for the seller/ homeowner to finance to the buyer. What I was saying was the buyer that I assign it to can then owner finance it to a tenant once he/she purchases it from my seller

Hello All, I have had my first wholesale deal under contract for a couple of weeks. I know my mistake was not getting it under contract lower but with the pay off amount for the homeowner and the lack of repairs needed I thought it would be a good deal for a buy and hold investor. Especially if they get 20% down on an owner finance. I don't know a whole lot about calculating cap rate and PITI yet but here is what I do know: ARV $105-$110K Repairs less than $2,500 non needed to rent out Rental Comps $1250-$1350 Asking $94K Property located in a suburb of Houston Any creative ways of getting this property sold to the right buyer? Thanks for the help.

Hello Brittany, I've been thinking about real estate off and on for years. Sometime in May I decided to try it full time and in June I went to my first REI Club meeting and started bird dogging. On July 30th I put my first deal as a wholesaler under contract. I have not closed in the deal yet but I'm continuing to learn and look for other deals. Experience is the best teacher! Go for it!

Courtney,

Thanks for sharing. I am a new wholesaler who was laid off a year ago. Jobless and broke I committed to real estate full time 2 months ago. I have my first deal under contract and after 18 days with no buyer, discouragement and doubt are beginning to creep in. This post has given me the optimism to keep going! Thanks Courtney!

Welcome Asia! I just began wholesaling about 3 months ago I'm Houston and BP has been a great help to me! Any questions feel free to inbox me. Good Luck!