All Forum Posts by: Michael Juve

I realize some of you might be thinking it is silly to send an email without first contacting the broker. I was sort of testing the waters. I let them know that I hadn't contacted the broker yet so as not to have any type of misleading going on.

Any ideas on how to protect your interests if you give away the address? I am worried that if I give the address to someone they can just swoop it out from under me.

Is there some type of an agreement you can have between you and all your buyers list that prevents this sort of thing?

I found a potential deal. I sent the bare bones numbers to the contacts I had.

It is a 3 bedroom, 2 bath, 1,056 square foot house here in Escondido. They want $145k for it. The comps I ran but the value at about $230k. The cheapest comp was $247k and the highest was $340k. I subtracted from the cheapest one because that sold in March.

I have a contract that I think will be suitable for purchase, and one for assigning the contract. So my question is what would be the best way to handle this?

I was thinking of calling the broker that is listing it and asking about a viewing then getting pictures of problem areas, and try my hand at negotiating a lower price. Then sending all this information to the people that have responded.

Any tips and suggestions are appreciated.

Even if this does not go through the fact that there is some interest might just be the spark I need to stop ignoring that little voice in my head and get serious.

I am a lot of different things and stubborn is definitely one of them. No worries about giving up. :lol:

And I would much rather put in a lot of work for myself then to put in a lot of work for someone else and get peanuts thrown my way.

Right now I am more focused on getting a consistent income rather then the whole get rich quick thing. I figure if I can at least one deal a month consistently at an average of $5k a pop I will be doing very well for myself considering I just got out of high school.

Like they say nothing ventured nothing gained. But I don't see any reason why I can't do this. At least not yet anyway.

Now I ,like all of us I'm sure, have seen the ads claiming that anyone can make it huge in real estate. They promise the world in a hand basket if you buy their course. We all know how they go I'm sure. :D

It seems that all of them are really just talking about wholesaling.

I don't buy into the whole getting money injected into your bank account basically on auto pilot.

But what I am thinking is being able to average a deal or two a month to begin to make a somewhat comfortable living. At least more then the average fresh out of high school, no college experience 18 year old. I have what I think to be a fairly solid plan on what I would like to do.

I am psyched to get going, I have a contract for purchasing, a form for assigning that contract, and I have got a few possible deal on standbye.

But for some reason I have a little voice in my head that is telling me I'm wasting my time and I am better off just going out and getting a job. And that little whisper is some how holding me back. :oops:

So please for my sake tell me that this isn't as ridiculous as it sounds. And even if it is just tell me it isn't anyway. :lol:

Ok maybe don't do that, but any tips and suggestions are more than appreciated. I think I need to just get out there and do something instead of sit around telling myself that soon I will get out there and make something.

In that case I think I'll just deal with the realtor.

But if the property is listed with a realtor wouldn't going directly to the homeowner and cutting them out be illegal? Or do you mean by the properties that are listed directly by the home owner?

And about the comps. I didn't mean the estimate they gave as the zestimate. I meant actual home sales in the neighborhood within the last couple months.

My dad has a good friend that is pretty successful in real estate. Both as a realtor, rentals, and misceleanous buying and selling. I should probably call him up and see where I can get. I've talked to him once all ready but I think I'm a little more serious now.

I've been running through realtor.com and checking out some homes. I've found a few that seem to be pretty good deals. The ones I have saved are from about 50-70% of the value of the comps I checked out at Zillow.

I don't go by their Zestimate I've been checking the comps of similiar square footage, bed/bath combo, and in the relative area. Now I'm sure they will be needing some work. But even at the list price a few of these look like some pretty good deals.

Now could I possibly be missing something or can realtor.com actually be a decent source for deals to wholesale?

How about the lottery? :lol:

While it may not be "rich" how unreasonable would it be for a starting out wholesaler to average 1-2 deals per month and average $5k or so on each one?

Now I know that's a pretty vague thing to ask as you don't know me personally, my situation, or how motivated I am. But that is a goal I have in mind for starting out and it sounds pretty reasonable to me. Sorry if this went off topic.

I'm pretty new myself so I don't know all the quirks of doing things a certain way. But how about wholesaling the property to him. You get your cut that is deemed fair.

You do that until you can afford to buy yourself.

Just a thought.

I've wondered why it would be sitting there too. But asking doesn't hurt. At least I hope not. :D

Maybe the investors with the cash are too lazy and are hoping for people like me to come along with deals for them. Sort of like bird dogging but hopefully more lucrative.

Never know until you try I suppose.