All Forum Posts by: Merari Alfaro

I am about to send a contract over for $135,000 to a seller. (FL)
MOBILE HOME:
SQ FT: 1,736
LOT SIZE: 40,511
COMPS: $190,000
PP SQFT: $105.11
ARV FOR HOME: $182,240
The land is in her husband's name, the home in her name. It's not on a foundation, they pay taxes so they think it's on record with the county. The deal includes both the land and the mobile home and 2 storage sheds in the backyard. 
The repairs can be from $10-15K, if a flipper is buying it (living room has carpet and painting the inside of the home). But other than that it's in great condition, built in 2017.
Is there any specific clause that needs to be in my average wholesaling contract, specifically for mobile homes? What type of buyers are interested in mobile homes? 

I have a potential JV situation, the wholesaler who has the contract wants both our company names to be on the Assignment Agreement. He wants to split the proceeds by giving me 30%, is there a way to talk it to 50/50?
None of my buyers got back to me, except one, he has a buyer for me. Problem is he wants to add $2-4K on top of our asking price for his wholesaling fee. How do we go about doing this, and what is the best way to protect myself in this deal as someone who is wholesaling to a wholesaler?  

Hey family!

I went to see a motivated seller yesterday. The home is for sale for $219,000. It's a Duplex, and I can tell you right off the bat, it's in great condition, just needs cosmetics such as upgrading of the kitchen, and two rooms need carpet removal and new floors. Maybe a bathroom upgrade, if we're being picky. 
He had a buyer who backed out the day before closing, they were distraught (motivation). This was six months ago, his wife has yet to unpack their boxes because she is not motivated to unpack, and then pack again (more motivation). He needs to go to India to work overseas (another motivation), and the reason for selling is his kids moved out and he wants to downgrade to a smaller home.
My question is, with the very minor updating that it needs, he said the absolute lowest he would take the cash offer would be $209,000. I know I can talk him into the high $180,000-200,000, easily. My question is how can I wholesale a home that isn't distressed? Who would my buyer be, someone who only invests $5-10,000 in upgrading? 
The ARV is $221,600. Very nice neighborhood, like I said he's motivated but I don't know how to go about this situation.

Hey guys! Hope you are staying safe and stocking up on toilet paper 😜

I've been having a hard time when it comes to the technicalities of wholesaling. I'm using PropStream and I don't know how to look at a property and determine if it's a lead.

Am I looking for high equity?

What about when the estimated value of the home is the same as the equity, or lower than the equity? Is that a wholesale?

For my experienced wholesalers, when you have property details in front of you, what is your process??

@Barry Pekin thank you. Definitely going to stay away lol 

Hey guys!

I have a client I've been building rapport with, she's 79, has a pressure point of wanting to sell her home, late April, if possible.

The comps for her home are 500K, with the latest one being sold in 2015(!). The home requires quite a lot of work and remodeling, I haven't been able to calculate ARV just yet but I can kind of say around $20-30K. Her asking price is $700,000 but she said she would be okay with $450K. The catch is that her home has reverse mortgage, that explains why no realtor has really taken her up on the home. At this point, I want to be able to help her out, does anyone have experience with this? Is it a dud, or could it be a possible deal?

@Nick Rutkowski Thanks for responding. I'm not working for her, I just asked if she knew any buyers since she works real estate.

I have a potential motivated seller from out of state. I would need a walk through of how that would be possible. I intend on purchasing the Flipster software, that way I can figure our the exact numbers. But if she does accept my contract, do I have to DocuSign and email it to the seller? Does it have to be done through a title clerk?

@Don Konipol this was a fantastic way of putting it! Thank you!