All Forum Posts by: Nelson Strimple

I found a duplex on Zillow and the prior purchase price was 96k assuming they had a 80% mortgage they should owe about 71k on the property which is close to the asking price of 74k. The listing claims rental income of 1250 a month. Base on these and the current mortgage it should cash flow about 100 per door. My question is: is this a good opportunity to approach the seller about subject to? And if so, what are my next steps? Thanks in advance, Nelson

Jaquetta Turner I actually have turned off the app several times to call on houses. As far as updates I'm sending about 20 letters a day right before I got to sleep so I hope to start getting some calls soon!

It has been a couple days but I have been finishing that book and starting to write letter and I will be sending them soon.

-Nelson

Days 3 - 6:

What I did: 

I create a google form that will link to spreadsheet in order to make it easier to fill out while walking a house and that way I also do not forget things. I also have started reading The Book on Estimating Rehab Costs by @JScott in order to get a better pricing idea and also so I can give better rehab estimates to the flippers I sell the house to therefore adding value.

Cost: $22

Total Cost: $22

Education: 

The Book on Estimating Rehab Costs and I am now on episode 48 of the BP Podcast

-Nelson

Day 2:

What I did: 

1) I create an analytics spreadsheet to make offering on properties a little easier

Cost: $0

Total Cost: $0

Education: I am now through podcast 43 on the BP podcast and I also have reached out to some investors in my area for information

-Nelson

Day 1:

What  I did:

1) Set up google voice and set up voicemail to receive calls and screen voicemails.

2) Priced out direct mailing (listsource and click2mail) 

3) Created a craigslist ad to start passively creating a buyers list.

Cost: $0 

Total cost to date: $0

Education: 

I have now made it episode 39 in the Bigger Pockets podcast and also have read many blog and forum posts on BP about wholesaling. 

Then big issue I focused on today is determining cost and how I am going to meet those costs without effecting my daily life. I have decided to do a little uber driving to cover the marketing costs and save for the future expenses. 

Thank you for reading and I'll be back tomorrow!

Hey,

My name is Nelson and I am a rising senior at UNC-CH and I am starting this thread for accountability for my first wholesale deal. I will be posting a daily summary of my activities in pursuing my first wholesale deal.

Goals: I hope to wholesale several properties in order and pay down my student loans and hope to also have the down payment for my first buy and hold property.

What I will share: I will be sharing a detailed list of my activities and expenses (with a running total). I will also give a profit/loss statement at the end to share my overall results.

What I want from my readers: Please just hold me accountable. If I don't post for a couple days or try to give up call me out. Any advice will also be appreciated and read thoroughly. 

In conclusion, this is going to be a fun and crazy journey and I hope you enjoy following me on it. I appreciate everybody who takes the time to listen to me drone on and want to say thank you in advance for helping me not do this alone.

-Nelson