All Forum Posts by: Mike Barone

@William Delsolar there are tons of buyers in the South Florida market including myself. If you have a good deal they will sell within 48 hours. The market is slowing down so the buyers are a underwriting for a longer hold time. If you have a deal send it my way. Let's connect!

Investment Info:

Townhouse fix & flip investment in Hollywood.

Purchase price: $275,000
Cash invested: $45,000
Sale price: $400,000

Contributors:
Adam Schooley

This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout. Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit. However, as we delved deeper into the project, we realized that a complete remodel would be more beneficial. This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.

How did you finance this deal?

CASH

Investment Info:

Townhouse fix & flip investment in Hollywood.

Purchase price: $275,000
Cash invested: $45,000
Sale price: $400,000

Contributors:
Adam Schooley

This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout. Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit. However, as we delved deeper into the project, we realized that a complete remodel would be more beneficial. This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.

The increased budget allowed us to enhance the property's overall value significantly, and we were able to sell it for a much higher price than initially anticipated. This project taught us the importance of being flexible and willing to invest more when necessary to achieve the best possible outcome.

How did you finance this deal?

CASH

Investment Info:

Townhouse fix & flip investment.

Purchase price: $275,000
Cash invested: $45,000
Sale price: $410,000

Contributors:
Adam Schooley

This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout. Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit. However, as we delved deeper into the project, we realized that a complete remodel would be more beneficial. This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.

How did you finance this deal?

Cash

Investment Info:

Townhouse fix & flip investment.

Purchase price: $275,000
Cash invested: $45,000
Sale price: $410,000

Contributors:
Adam Schooley

This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout. Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit. However, as we delved deeper into the project, we realized that a complete remodel would be more beneficial. This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.

The increased budget allowed us to enhance the property's overall value significantly, and we were able to sell it for a much higher price than initially anticipated. This project taught us the importance of being flexible and willing to invest more when necessary to achieve the best possible outcome.

How did you finance this deal?

Cash

Hey @Maite Narciso I have an off market 2 bed in Pompano Beach your client can take a look at. Shoot me a DM and I can send you more details. Also we can connect to see how we can work on future opportunities. 

 @David Caddy wholesaling is not as easy as people make it seem on social media. You are not experiencing anything different from other wholesalers doing outbound lead generation. You left out a lot of details to be able to determine why you have not had any success. How many records do you contact daily? How many leads per day/week have you generated? How long have you been cold calling? If you have been doing it less than 90 days and say it's not working, then your expectations are not aligned with reality. You need to build a pipeline of warm leads which is going to take time. You might get lucky and find someone willing to sell right away but using outbound marketing the sales cycle is much longer than inbound.

It took me 90 days to get my first deal, but I also invested 5K into marketing. After your first deal you will gain the confidence needed to keep going. The challenge is being able to push through until you get that deal. Would you keep going even if you don't get a deal in 6 months? This is where I see most people struggle with when trying to wholesale. 

Since you are limited on capital you just need to talk to more people. Get creative and post on social media asking friends and family if they know anyone looking to sell. Maybe you know someone looking to buy an off-market property and you connect them with a wholesaler that already has a deal. You can get a finder's fee to generate some capital you can reinvest in marketing.

There is not a magic list to pull since everyone has access to the same data. It's not going to be an easy journey so just set expectations now. If I can help with any specific questions feel free to DM me anytime. I am always looking to help where I can. If it were easy everyone would be doing it :)

@Joseph Lalia lets connect so I can get a better understanding of what you are looking for. @Ray Hage you the man keep crushing it!!

@Ray Hage I actually spoke to Ronald yesterday and gave him a few nuggets to help him on his journey.

@Ray Hage I have been to a few of @Rich Vidot meetups before. He has a great showing and shares his knowledge of the off-market game. This is definitely an event I would recommend to anyone looking to get into wholesaling or investors who are looking for off-market deals to attend and build relationships.