All Forum Posts by: Cristhian Acosta

heres the deal: im working with a wholesaler/ (licensed) realtor. i brought a property to him for a fsbo. the seller said he bought it 2 years ago for 160,000. says its in moving condition and needs liitle to no repairs so i figured at least 10,000 for repairs. my partner looked up the comps and says that the ARV IS 175,000, but we can only pay 80-90,000. do these numbers sound correct?. and he says that hes trying to gross 20,000 profit to split 50/50 between us. he says he can give me a jv juncture or non-compete, non disclosure agreement. either of those should protect me right? as far as protecting myself: how do i protect myself in this scenario?
and as far as numbers go: how do i figure out what my profit should be and can anyone give me a step by step on how i would break down all the calculations of this particular deal?

ARV is 175,000:

175,000 times .70 = 122,500
122,500- 10,000 for repairs =112,500.

112,500 - 20,000 for me and my partners fee. 50/50 = 92,500

shop to buyers for 90,000-92,500.

do these numbers sound correct? thanks in advance

p.s my first deal

i need t find out where i can find fsbo's. im new to this but i really wanna put my all into getting this off the floor. i dont have much to spend so i really wanna do a fsbo to not have to give more than 50 bucks. any advice? thanks again for everyones help and support

thanks for the response j scott. i dont wanna spend any mony on my first deal except of course 10-50 bucks for earnest money. what would you advise me to do start with and look for?

do i have to deal with bank listings? i heard they are a pain to wholesale and require alot of time. i am new to this and ive been reading everything about wholesaling for about four hours straight. i wanna wholesale but i need to find ........ thats the thing, i dont know where to look yet. do i look for banklistings or do i look for sale by owner or what do i do?

p.s can someone tell me if this options contract will hold in the state of new jersey? just download it and take a look at it.

http://www.coastal-funding.com/downloads.html

hey guys, im new to this site. i actually came across a video that got me interested in wholesaling. i really see that this is a business that can be lucrative if played correctly and professionally. i want to know where specifically i have to get started and what makes the deals actually happen. ive heard it from people online, about the buyers list and bandit signs and titles but i want to hear from you guys, this site is really fantastic and everyone seems to wanna help each other, thats awesome. hope to hear from yall soon.