All Forum Posts by: Michael Rajnherc

I should mention he’s thinking about listing with realtor for 85k but doesn’t expect to get that much. Gut feeling he’d sell for mid 60’s if he could.

I should mention he’s thinking about listing with realtor for 85k but doesn’t expect to get that much. Gut feeling he’d sell for mid 60’s if he could.

Hey Everyone, I’ve been putting in the work and generating leads. I saw a house today that I think could potentially be my first wholesale deal but I need some help. If you guys wouldn’t mind taking a look at some numbers and sharing any advice. Also the margin may be thin but if any local South Jersey Wholesalers would be interested in partnering I would do all the work in exchange for some guidance. I’d be willing to keep this as a rental, but I’m Finishing up grad school so to purchase myself is probably not likely right now. I’m willing to do any work necessary though. The deal: Guy owes 60,000 on a twin that is in good rental condition and could rent for between 1100-1300. It’s in a B-/B area and should be rented pretty easily. He bought it for 90k 5 years ago. We’ve developed a good relationship and he’s flexible to sell to me. Even mentioned he’d take seller financing. I’m just not sure how to approach structuring the deal here. If you want Any more details just ask! Thanks in advance, Mike

Hey Everyone, I’ve been putting in the work and generating leads. I saw a house today that I think could potentially be my first wholesale deal but I need some help. If you guys wouldn’t mind taking a look at some numbers and sharing any advice. Also the margin may be thin but if any local South Jersey Wholesalers would be interested in partnering I would do all the work in exchange for some guidance. The deal: Guy owes 60,000 on a twin that is in good rental condition and could rent for between 1100-1300. It’s in a B-/B area and should be rented pretty easily. He bought it for 90k 5 years ago. We’ve developed a good relationship and he’s flexible to sell to me. Even mentioned he’d take seller financing. I’m just not sure how to approach structuring the deal here. If you want Any more details just ask! Thanks in advance, Mike

@Yashar E. I would love to hear your thoughts about Gloucester City if you'd like to chat sometime.  I'm currently in the market for a multifamily and considering this area.

Thanks for your input everyone.  Will let you know how it turns out!

Hey all,

I posted a few weeks ago that I was starting a marketing campaign and I did it! I have been extremely happy with the results and gotten more calls than I expected. I have an appointment this weekend to see a triplex that seems like my best chance for a deal so far. My question is, how do you price an MAO for a triplex when you are trying to flip it? What strategies do you use? Specifically, there have been 0 triplexes sold in this area, but a few duplexes sold. I ran the numbers using the BP wholesale calculator specifically for rentals, but I feel like the numbers are hard to estimate with so few comps. ANY advice would be helpful. Thanks.

Great post! I’m looking in South Jersey for multi-family units as well. I’d love to bounce some ideas off of you in the future. Good luck with the process. Let me know if I can help with reviewing any numbers in the future !

Hey guys, thanks so much for all of the great feedback. If I can summarize the points that I think I am hearing with some shoutouts sewn throughout, it sounds like what would be most recommended is to have, in essence, a concise and informational pitch about my brand prior to mailing so that I am prepared for any brokers or agents that reach out for a quick turnaround (@Jonny Phillips) and to break my budget into smaller "test" campaigns (@Grant Rothenburger) to get actionable data off of each scheduled mailing process. Apart from that, be ready to take action rather than simply get caught up in the indecisive middle ground (@Joaquin Rosario).

I've already started to build out a network of brokers that I have connected with and have been keeping in touch with them as I go, but if anyone has any insight into the best way to capitalize on those connections apart from waiting and hoping to get lucky with a good deal, I would be really curious to hear your thoughts.

The feedback that I have gotten has been incredible, and I would really appreciate any more thoughts or advice that might be out there. 

@Mike Taravella - will absolutely hit you up shortly once I get the points listed out above concluded so we can brainstorm and help each other grow!

Hey Everyone,

I've been mostly a lurker on this site up until this point.  I have been absorbing a lot of information with regards to wholesaling over the past few months and decided to just start taking action.   

I forced myself to start making actual concrete plans (which I'm finding out is way different than the "I'm in the reading and learning phase" plans) by purchasing a direct mail marketing list for the South Jersey market (using Finding and Funding Great Deals, thanks, @Anson Young that book really is amazing).  Because of the information from a lot of the resources found here in the forums and on BP in general, I believe I have almost everything in line to start fielding calls.  

So to all, you experienced wholesalers, what do you wish you knew before you got started wholesaling?  

Also, if anyone in the South Jersey area has any input I would love to hear from you guys.  

I've specifically been driving for dollars in Willingboro, Woodbury, Sicklerville, Collingswood, West Deptford, Deptford, Audobon, Oaklyn, and Haddonfield areas recently.   I have a huge list of mailers to send out eventually based on driving for dollars in those areas, but I want to get my feet wet talking to motivated sellers before I commit to a large marketing campaign.

I've seen a lot of construction projects in progress in those markets, specifically, in Audobon. I didn't look at the actual construction number permits but based on driving around that market definitely seemed the hottest with construction and updating properties.  

Hopefully that Eagles Super Bowl magic continues around the area as I get started! I'll try to update with some results as I go.

Thanks!

Mike