All Forum Posts by: Markeilsha R.

@Eric M. Thank you, that will help a lot.  Also, can you tell me the most desired areas in. Rochester?

hello, 

I've also been focusing my sighted on Rochester and buffalo, however I am not familiar with the areas enough to be able to describe them by their neighborhood designation , ie. 19th ward etc. Where do I find this info?

@Shera Gregory @Ben G. @Matt Devincenzo 

Thank you all for the advice. I will try both angles while attempting to market to buyers that are willing to do a rehab and see the advantage to buying a double lot. I'll also call down to the code office and ask if there are any problem with splitting the two lots. Thanks again!

@Stephen Gailey Thanks. I did a prelim check on the numbers and they are pretty consistent. The value of the home after repairs is a little more than twice the asking price. 

A wholesaler contacted me today regarding a property that he presumably has under contract. I let him know that I could pass along the deal to my buyers for a fee, and her agreed to 5% of the sale price ($1250). I started preparing the "flyer" to send to my list, and upon confirming the number found myself on the property listed on Trulia. It is listed FSBO, for $18k, and he wants $25K. Now my question is this, if I pass this along to by buyers and an another investor sees this (which they undoubtedly will) will it effect the deal?

Should I continue to help him, or would it make me lose face in the eyes if my buyers?

Is there a book I can reference when training a property locator. I put the art before the horse a bit yesterday and posted an ad for help on craigslist, luckily I've gotten quite a few with research experience but at this rate I anticipate getting more that don't have a researchers skillset.

Is there a book I can reference when training a property locator. I put the art before the horse a bit yesterday and posted an ad for help on craigslist, luckily I've gotten quite a few with research experience but at this rate I anticipate getting more that don't have a researchers skillset.

I asked this in another section, but it may be misplaced since it really is a marketing question:

I spoke to a homeowner today who has a small (900sqft) home for sale that needs about 15k-20k in repairs by my quick estimate ($20 per sqft). The property is in a great neighborhood where people rarely sale once they buy, maintain the property really well, and have a phenomenal schools district. Trouble is, the owners won't sale for less than $48k with an ARV $61. I was looking of ways to market this as a wholesaler because the home and it's placement has lots of potential. It is on a double lot. Homes that are 1100sqft 3/2 usually go for twice the amount (sold). Would it be feasible to market it to a rehabber on the potential? If they were to add onto the property 200-300sqft they could double what they'd pay from me on the deal, although I have no idea how much it would cost to do that in upstate NY.

Do you think I can market on this potential???

@Bill Jacobsen 

Thank you for your response.  Yes you were correct--I was asking how I would go about determining an asking price for a rental property. I've been driving past a for sale by owner sign for the last month and I thought I would give it a call, but I wanted to have an understanding of what they would ask for vs how much I could potentially wholesale it for.  I have noticed that the rental properties in my area are listed a good deal higher than the estimated retail value, and I wanted to understand that a bit better.

I would be interested in this answer too. I live in and area that has few private/ independent cash buyers, and I'm new so I haven't really developed a relationship with any. If I find a deal in the $100k's I'd like to be able to wholesale it to a buyer with the cash needed. It's seems that realtors may be the best bet, but how do you turn the deal over quickly <30days if you have to list it? I also wondered the same thing about brokerage firms.