All Forum Posts by: Morgan Gutierrez
Morgan Gutierrez has started 25 posts and replied 128 times.
Post: Assignment of contract!
- Wholesaler
- Texas, USA
- Posts 139
- Votes 40
TREC 1-4 in Texas
Post: NEW Wholesaler in GA
- Wholesaler
- Texas, USA
- Posts 139
- Votes 40
Hey Leonard, I'm curious. What investment company did you partner with?
Post: Are you wholesalers asking too much?
- Wholesaler
- Texas, USA
- Posts 139
- Votes 40
We always appreciate when we get feedback about our deal whether it is if the ARV is elevated, the repairs are off, or if there is something specific about an area only a local knows; or even how we presented the deal.
We want our investors to see the profits, otherwise they wouldn't buy our deals - as y'all are mentioning here. Occasionally we have 80% deals, more for our buy and hold investors that have a longer term to make their money. But our goal is to have our purchase price at at least 70% - repairs. We understand you are taking on the risk and need to reap the most profit!
Post: Real side of Real Estate
- Wholesaler
- Texas, USA
- Posts 139
- Votes 40
I'd recommend start looking at different deals. Find a market you want to invest in and get on some list. Start analyzing the properties. When a property comes your way that is a good fit for your criteria wether you decide to flip it or hold it, then take action. While doing this, network with lenders and people who use the strategies you are considering. Also, listen to podcasts and read books. The real teacher is experience, but having the theoretical knowledge to apply is better than figuring it all out as you go.
I would not try and start with building from the ground up....
Post: Fix and Flip Vermont
- Wholesaler
- Texas, USA
- Posts 139
- Votes 40
For your first flip, I would recommend seeing if you could partner with someone who flips a lot of properties in the area. Yes, you will give up some of your profit, but it will teach you a ton and could really help save you in the long run!
Post: Seeking Guidance and Potential Partnership Opportunities in Real Estate Investment
- Wholesaler
- Texas, USA
- Posts 139
- Votes 40
Congrats on getting started!
I would recommend asking any contractors to talk with their most recent finished project as a reference. This can give you insight as to their most recent quality of work and the relationships they build with their clients.
You will want a contractor, or multiple contractors, that you can build a relationship with and use over and over again.
Having a great listing agent is also important. They can help you understand what is selling in your area and give you insight on paint, fixtures, styles for your flips in an area.
Off market properties have a higher likelihood of giving you the returns you are looking for and the purchase price you need to make the numbers work. Wholesalers and sometimes realtors can help with this.
Hope this helps!
Post: Minimum Profit to Flip?
- Wholesaler
- Texas, USA
- Posts 139
- Votes 40
Quote from @Evan Polaski:
@Jesse Harris, admittedly, I am very selective and don't "need" a flip at any point, so I wait until there is something that works for me. For instance, we (wife and I do these together) sold our last flip in May, 2023. So we are over a year since we last bought a property. In that time, there was one other property we pursued and didn't end up getting.
For us, since we are not "full time" flippers, meaning we essentially use the MLS and rarely get brought a property from someone we know but we are not running direct mailer or hunting for off market deals, our projects are full scale guts, anymore. We can make a fairly large profit on these type of deals, because the typical retail buyer will undertake a kitchen facelift and/or repaint stuff, but they won't undertake a full rework of the floor plan and taking the property down to studs with new electrical, HVAC, potential addition, drywall, and then all new finishes.
Another area that allows for larger margins is additions.
Effectively, if you are not going to spend the time and money to try to source off market deals (which are never guaranteed "good deals") you need to have a vision of a property that is beyond what the retail buyer pool will see to find any real margin.
If you do not want to spend the time or money to source off market deals, you can work with wholesalers and some investor friendly realtors also can help you source deals. True, just because it is off market doesn't mean it is a good deal. You are likely to find them under or around 70%-repairs purchase price though.
Evan made a great point with the types of deals to keep a lookout for on the MLS.
I hope this helps!
Post: New Year, New Trends, New Plan?
- Wholesaler
- Texas, USA
- Posts 139
- Votes 40
If only we had a crystal ball...
I think there will be more people buying while the rates are lower. There have been people renting after selling waiting for prices to calm and rates to decrease. I think the prices will stay fairly stable. Some areas may be receiving multiple offers again especially if sellers are not increasing prices.
Post: for sale UNDER lot value!
- Wholesaler
- Texas, USA
- Posts 139
- Votes 40
Send me a connection request
or
Call or Text (832) 953-4823 if you want more information
Post: for sale UNDER lot value!
- Wholesaler
- Texas, USA
- Posts 139
- Votes 40
You can view the pictures here: https://drive.google.com/drive/folders/1voKwgn5d_Dy-raIGh7K4hQ8ApsMWjnYp?usp=sharing