All Forum Posts by: Matthew Reed

Thanks for the reply Kyle.

They definitely want a cash offer. We do have the funds in an investment account that we can pull out if we have to. I could see if I can get the POF letter from the fund manager, look at the house then get the hard money involved.

-Matt

Tried that, explained that I have flipped before (true) and that I intend to use hard-money (true). He said that his owners want a cash offer and don't want to be bothered by anyone that does not have cash.

(guess that means they are not desperate enough)

Thanks for the reply!

I've found a wholesaler that has a house at a good price in the neighborhood I am interested in. But before he will do anything I have to provide pof. I was going to use a hard-money lender, but they need all the numbers on a house.

It's like a chicken and egg thing, I can't get the pof until I look at the house, I can't look at the house until I have pof.

Any advice?

-Matt

Thanks John, I suspect the quality of the deals varies greatly from area to area. It seems they are just a site to post deals on and nothing more.

-Matt

Thanks Ryan. I would never assume anybodies repair estimates were correct, especially from a site like this. But that does not mean they may not have some deals. Don't think it will much of an issue for me though since they almost never have anything from the DuPage county area, which is where I am interested.

-Matt

I get their EMails, they often have deals like this:

	Est. ARV:	$100,000	Status:	Available
Asking Price:	$25,000	Lead Type:	Wholesale Deal
Est. Repairs:	$30,000	Location:	Chicago, IL 60637
Profit Potential of	$45,000

But the problem is that they will let anyone post on the site, I have also seen deals where the "profit" was a negative number!

I recently posted to a newbie wholesaler suggesting that they used the site, but someone else replied that there are no deals on the site.

So I'm just wondering, has anyone ever used them? Are they any good?

-Matt

Ok, I'm a newbie flipper and when I decided to look for wholesalers I went to a few internet sites. There are some that will let you list properties. I also found some on Craigs list. I could also see several there that I did not contact. I think one of the best sites is myhousedeals.com I'd like to become a member, but I'm waiting for my current flip to close, then I will have the money.

I got mine "free" when I signed up for RDPD courses. They played the game at the introduction as well. They played a shortened version in the intro that was pretty much impossible to understand. I've played it a few times on-line, I have never played the board game at home. Although it teaches concepts it's also kinda hooky. The scenarios are contrived in such a way that winning the game does not mean you are ready for real-life (IMHO).

Thanks Curt, I'll look into Cowgill and see if I can get some insight. Do you have a link?

-Matt

Thanks for the input Jerry. Hate to disagree but in the RDPD classes, in books I've read, and in BP pod casts they have said that your credit is completely irreverent. The only thing important is the deal and your ability to do the deal. I plan on putting the details of the deal as the first page and this write-up as the second page.

-Matt