All Forum Posts by: Christian Marin

@Carrie Giordano

 I'm only offering in the central florida area but I believe it should be the same throughout the country. If your area hasn't recovered as quickly and still has foreclosures I'm sure they will take an even lower offer.

You can offer up to 85% of the list price with Fannie Mae and they will play ball with you. Sometimes it can drop to 80% but anything lower and they'll automatically reject you. I offer on about 50 fannie mae homes a month. They suck to deal with.

It is good to have a set schedule for your task. I have a daily task goal that rotates as I never know how my day can change. 

I start my day at 7-7:30. I check the new listings on the MLS to see what I can find. Then I make offers on what I works based on my formula. I then work on finding buyers. That is what my day would look like in a perfect world. In reality I can be sitting at my desk at 7 and get a call from a buyer that they want to see a house in the next hour. Then I'm out the door, or I could start my day and get an offer accepted on a house then I'm out to take pictures of the inside, get a rehab estimate, and create our marketing flyer for that house. Some days I get to make offers and other days I barely have time to eat lunch. So my advise is figure out what task will make you money. Prioritize them and then learn to go with the flow and adapt and overcome.

look for your state approved sales contract that the realtors use. You can usually do a Google search for it. Here in Florida it also has an assignment section where you can select to assign it or not.

Orlando is almost the same as Orange County, CA. There is still a huge inventory of foreclosure but the amount of investors that have come has raised prices back up. Jobs and tourism is at an all time high. Here is article about the current Orlando market that was publish just last week by Bloomberg Business:

http://www.bloomberg.com/news/articles/2015-04-09/harry-potter-magic-helps-orlando-foreclosure-glut-vanish

I agree with what most people have said on this post. Everyone makes mistakes and if you are still going to do the full checkup on him and speak to their parole officer than any red flags will come up. Also what crime he committed is important like what @Verna M. said.

@John Thedford 

The funniest part about all your comments is the fact you on your own free will messaged me before asking to be put on my list and how you are looking for properties. If you hate wholesalers so much why would you message me when I have since day one of being on BP have said I'm a wholesaler and it's even in my profile. You are a hypocrite sir and the fact that you think you are so holy because you don't wholesale and then degrade the people that do and call them scam artist shows me how you are and I'm glad you asked to be removed from my list because I do not work with people like you. As for your QUESTIONS here are the answers 

Yes, the contract has a 10 day inspection period that allows me to not move forward with the purchase if the inspection doesn't meet my standards. It's not a ruse or form of deception as it's in the contract, and the seller knows.

If you find an asset manager that you can tell them that you will be looking to resell the contract to and not purchase it yourself and they say go ahead please do it, I beg you to please give me their info as I will gladly call him and work with him. I'm not hiding anything unlike you who is here posting and can't even put a profile picture up for everyone to see who you are. Stop the deception and ruse and let everyone know who John is please!

@John Thedford

The fact that you call wholesalers scam artist is hillarious to me. Yes I do not own the properties I wholesale, yes I do cancel the contract if I can not find a buyer in time and yes I also completely disclose this to both the seller or listing agent when I purchase. I'm not in this business to scam people, I'm in this business to solve problems and create win-win situations for everyone. There is a reason why I have sold multiple homes to the same buyer's  and that is because they profit and I give them all the information they need. If you don't like the fact that I wholesale please just hit hide my profile so you won't see my post. Thank you

@Todd Plambeck

The property has an ARV of $280,000. Repairs are estimated between $55,000 - $60,000 and the purchase price is $160,000.

@Joel Owens

The property is an REO so the seller (the bank) is not negotiating on price. I've already tried with them.

@John Thedford
Wholesaling is a great way to make money in real estate. It's not all about rehabbing the properties yourself. I rehab properties myself but I also work as a firefighter full-time and it's a lot easier for me to wholesale properties than to flip all the deals I have. I also don't have all the cash for them so why not share the deal with other people who are able to rehab the homes at that time? It's a win-win situation for everyone. The seller gets their home sold, I make a small profit for finding the deal and the end-buyer will rehab it and make a bigger profit that he is happy with. Every industry has wholesaling I've just never understood why wholesaling real estate has such a dark cloud.