All Forum Posts by: Account Closed

strip club capital of the world....be proud you two.

Just moved to spring hill, wasn't enough water nearby in ocala....drew, what kind of law you in?

Walking into the lion's den.

If it were me, i'd be looking at which area had the lowest risk of future losses along with highest potential of future gains. So many variables at play, but today's rent prices wouldn't be my main concern.

I know I flip to a lot of people that sell cash flow. Something I buy for 40k, they pay 65k and then reflip it to some overseas clown for 100k and handle the PM. Meanwhile, the tenant they stick in the property is over paying at 1,000 a month. How this all occurs is not so clear since it's beyond what I do. I'd be worried about reading too much into that 1k rental amount though which appears to be what people are making these choices based on.

I know in Florida there are many agents doing these types of arrangements though. None that I'd want my family to invest with though, maybe texas is better.

If i were going to do what you are saying I think I'd just buy something on homepath that is newer (fannie mae foreclosure, you will get a fair deal but not a great deal). Have my local agent give me their head nod on condition and some comps and hope for the best. Your return won't be above average for the area, but at least it won't be like what you describe down under.

For what its worth, grew up in Marblehead....I miss it dearly

I suppose I need to be a little nicer to the people that help me close deals. Or maybe I need to continue to be a dick so they close my files and give me what i want. Will ponder this later.

Like i said earlier, and I reached out to you months ago when i was in my bind on my Macon flip. Took me 6 months to actually close that file.

GA for me is a far different playground that doesn't produce nearly the same results. My assumption all this time was my lack of experience across the border.

Ibrahim S, I would of just worked out a deal with the other wholesaler to give him your inventory at a set split when he sold it. I'd also continue to half-heartingly market the properties to make sure he wasn't getting lazy at roughly the same price your "partner" suggested. Don't undercut him, but don't be dependant either.

I'm curious though, do you get a piece of his business when dealing with someone else? Or does the partnership only work for your inventory?

Everyone travels at different speeds. What happens if one of the partners starts to slow down and leans on the other? Would seem difficult to adjust any deal if the "lazy" one doesn't agree.

I find it hard to believe 2 unrelated people can setup a deal that works long term as those people change and grow. I realize people partner all the time, but is it really in both of their best interests down the road.

I love the concept of only putting my strengths to work and letting someone else cover my lets say "less than strengths". Just the thought of having someone else deal with all personal contact with the outside word makes my heart skip a beat. With that said, maybe the struggles that challenge us keep us motivated to work harder.

Lets assume this situation.

Guy A finds all the deals, able to sell them but sucks at it.
Guy B able to sell most of the deals Guy A finds, but can't find a deal to save his life.

I'd be curious how many more deals Guy A can find in the same amount of time if he doesn't have to deal with the task of selling his own stuff. Is it double? I doubt that.

If Guy A sells his own deals, lets say he doesn't get as much money for them, but he gets to keep all of the profits. Is guy B adding a significant amount of profit to the deal? I doubt it.

So quick math, Totally pulled from thin air. If guy A can find 20 deals a year, and wholesales them for an average of 3,000 a deal. He makes a living at 60k/yr.

If A+B partner, Guy A needs to find lets say 30 deals a year (50% increase) and guy B needs to sell them for 4,000 profit each to make the same money. I'm sure this is possible, but doesn't seem that probable. I also don't think they come to the table with equal skills. Guy A can make a living on his own, Guy B can't.

2am and rambling.

Quit claim deed that is done correctly would be fine. Odds are if you are asking this question you aren't qualified to do it correctly.

Lots of risk for the buyer, but to answer your question yeah thats the cheapest way. I'll agree with everyone above though and tell you to spend the 500ish dollars to do a closing.

I'd increase my offer price and ask for longer terms. I'd even consider making a larger deposit non-refundable to keep it locked up. Calculated gamble.

I don't think i'd be willing to close though with so much "up in the air". If the city appraisal goes poorly for you and they use your sale as a comp, it could cause a big mess. If the deal somehow never takes shape in the next 90 days or whatever, i'd strongly consider just moving forward so I didn't lose my deposit.

I've done a half dozen or so in JAX.....careful of the CDD fees on some places if its a recently built foreclosure. I got hit hard by one once and it wiped out the entire profit margin. Never experienced one before going to duval county.

Anywhere that has a large amount of foreclosures and a large population you can flip. Don't worry if there are 1000s of flips or 100s of flips out there, you only need a few at a time.

Was it luck that your #35 house made a little over 12k in profit? No, it was your skill. Don't consider my efforts luck. I find it offensive. I've sold to FHA buyers before with minimal repairs. I simply thought that example proved my point and then some. Anything done once can be repeated, the 2nd time is typically much easier too as your business model should show you.

I get it though, some people live to work, others work to live. Like i said, we are different. In truth i'd like to be more like you scott. Looked at a 46' Hatteras today in hopes of learning how to unplug.