All Forum Posts by: Michael Wyatt

Hi

I’ve have a couple posts cancelled due to them containing info looking for partners to help fund deals.  I noticed a lot of Facebook groups have the same “no soliciting” policy. I’m wondering what the best way to go about trying to find someone willing to partner.  Specifically I’m looking for a gap type funder for flips that can help with down payment so I can do multiple deals at once and not wait for each to sell before I can get another under contract.  Is it possible to have these conversations on this forum? 

I have a property in the Hungarian Village neighborhood of Columbus Ohio. I was wondering if someone could give me a second opinion of what they would put the ARV at. Looking for someone who has some knowledge of the Columbus market, or even if anyone would like to take a peek and give their opinion it would be helpful. It seems to be in a tricky area - just 1-2 blocks north is the historic district divide (but within the same zip code), which seems to be where a lot of higher priced homes have sold in the past few months. I am wondering if I can use these as comps or if that totally disqualifies them, even though they are only less than a couple blocks away and still the same zip.

Hi 

I have a property in the Hungarian Village neighborhood of Columbus Ohio. I was wondering if someone could give me a second opinion of what they would put the ARV at. Looking for someone who has some knowledge of the Columbus market, or even if anyone would like to take a peek and give their opinion it would be helpful. It seems to be in a tricky area - just 1-2 blocks north is the historic district divide (but within the same zip code), which seems to be where a lot of higher priced homes have sold in the past few months. I am wondering if I can use these as comps or if that totally disqualifies them, even though they are only less than a couple blocks away and still the same zip.

Eric, I have this under contract personally under my own entity and written as "my entity or designated entity". I found this with my real estate agent, it was listed on MLS. I am the buyer on contract but trying to assign.

I have never assigned a property and my intent on getting this one under contract was not to wholesale but to fix and flip myself. However during the inspection period looking into it more the numbers aren't quite working for me. I do think this could be a good deal for someone and so I decided to gauge some interest by posting on a couple different groups, with lots of folks now interested in getting the contract. I got this under contract with a real estate agent and it's on the MLS.

Two questions about this process: 

1. In the purchase & sale I wrote in as Buyer: "xxxx LLC or designated entity". Does this allow me to assign to someone else?

2. If we get this far, does the person I'm assigning to pay all closing costs? 

Any other advice would be much appreciated.  Thanks!

Hi everyone. I'm somewhat new to real estate investing. I have been connecting with agents and wholesalers in a few different markets, looking for properties to fix and flip. I am pretty confident in being able to determine an ARV, and I have made a bunch of offers so far and even got 2 under contract (that I backed out of due to rehab quotes being too high and numbers not working because of that).

My question is - what criteria do you use to come up with an offer price that ensures you're getting a good deal? A certain percent of profit based off the ARV? The 70% rule (this doesn't seem to be feasible)?

I have also heard on one of the podcasts that you are able to outbid flippers when buying with the intention to BRRRR. Just wondering exactly how everyone else comes up with an offer price. I would be using a hard money loan by the way.