All Forum Posts by: Michael Sessa

@Steve Mikrut agree on the as is value of the home now. After you put the money up and fix it, he gets the agreed upon as is value of the home since it’s his and you never bought it from him — plus he gets a percentage of the profit. I don’t see why you wouldn’t split profit 50/50. You put up the money , yes, but he owns the house and you did not have to come up with any $ for the purchase.

Just partner with someone. Or, at minimum, bring someone a deal and build in a nice wholesale fee for yourself. Do that a few times and you’ll have the gap filled. I only have 75k saved but I partner with 3 guys so we all pool in. It’s better than trying to do it on my own.

Stay patient and don’t get discouraged!. You could live in NY where houses that are considered knock downs sell for 250k. It does have its benefits though. One flip in NY makes you more than 5 or 6 flips in most other stars.

It’s not his job to force you to buy a property. You passed and he made the purchase. Nothing wrong with that. Most agents are also investors. Nothing wrong with that either.

Nice !

A good investor will purchase a property from any wholesaler who brings them a good deal. Getting one from you doesn’t mean they are giving up “their guy”. They get deals from anyone who brings a good deal to them. Bring an investor a deal that will make them $100,000 and watch joe quick they take it and pay your fee.

If he is a true cash buyer , you don’t have to worry about introducing yourself and making him like you. He isn’t your boss and this isn’t an interview. This is real estate and if the man is smart he will care about 1 thing and one thing only! And that’s whether or not you have a good deal. Any smart investor is constantly looking for leads for Properties. Your call should be the highlight of his day. Are you worried that he will take offense that you are trying to bring him a property that he can make money on? If he does, he’s a joke and a waste of your time. Here in NY cash buyers treat wholesalers and property finders like Kong’s. They’ll pay North of 30k for a good deal because they will still make a ton of money. Do not think of cash buyers as this superior breed. They need you more than you need them.

It will cost you more to evict him. Don't let him move in, return his money. and deal With the ramifications afterwards. Trust me.

Thanks. Turns out the $200,000 lien was just the face value that they use. The lien was only $1,200 and it was bought down to $900. Closed on the property last month !

Jessie Nunley close your first deal and have them explain to you again why it's a bad idea as you're depositing that $20,000 check into your account and they're looking through the piggy bank trying to pay the rent.