All Forum Posts by: Jason Brooks

I am actually working with a company that will pull leads of people who actually searched multiple search engines or visited sites that searched terms like "need to sell fast", returns phone and email addresses and that info can be entered into an autodialer. You can even record your own message. People have an option to be connected directly to you, leave a voicemail for you, or opt out (which removes the dilemma of the DNC list). I will be providing this as a service and can give you more details once I complete the process and test it.

Thanks for Brian Murphy I actually got wrapped up for a little while with a local developer who I met on another REI social site. Her intentions seemed to be toward the wholesaling and rehabbing of single and multi family homes, which is exactly what I am building my business around. I soon found that I was contacting Hard Money lenders to do deals in Puerto Rico and she was sending me proposals for 40 and 70 million dollar resort casino projects. Ultimately, she is looking to build her development business and was not interested in residential investments.

My point is this, if you are a "newbie" wholesaler and you are learning about wholesaling single and multi-family homes, stick to that area. Become an expert in your field, I think then, and only then, can you move from a "newbie" (denotes hobby IMHO) to an entrepreneur, which is how I refer to myself. I have not done my first deal yet, I've bird dogged a couple leads, but I am getting the info and advice I need to be successful in this business right here on Bigger Pockets! I am also making connections that will help to build the business, and making some friends along the way...

Bill Gulley I always appreciate your candor! You aren't afraid to tell it how it is, and I have learned a few very valuable lessons from reading your replies and advice on many a post! I completely agree, commercial investing is a world of it's own with it's own rules and players. Not to be taken lightly!

I just looked at a house that is classified as a "historic" home in Wilbraham Ma. Comps are very difficult to obtain. Also you need to get permission to change anything. This thing has an unsafe barn that needs to be torn down and I was advised that it may need to be rebuilt using all the exact materials that were used in the original construction. Overall it makes it really difficult to make the numbers work on a project like that. Consider yourself lucky its not on the register!

You can use the number at the bottom of my posts or just shoot me a colleague request and we can chat that way as well.

I'd love to speak with you sometime, I relatively new myself, but I've learned a lot over the years. I'd be happy to chat anytime!

Richard Harris Hello and welcome! You have found the best site on the internet to get out and take action. The contributors here are amazing and they pull no punches. So expect straight forward, actionable advice, and excellent relationships!

I think this is an excellent post. The processes are starting to resonate with me and I feel much more confident going out and getting up to my elbows in ugly houses. Lol. I think its natural to want to learn from someone who is doing this and doing it right. That expertise can only be learned in the field. I respect the seasoned investors on the site who offer their services and guidance to us entrepreneurs (I refuse to refer to myself as a newbie!). Hats off to you @Kieth Boley. People like me appreciate what you do for us. PM me if you want to talk sometime...I will be signing up for my Pro membership very soon Josh.

Mehran Kamari Thank you for the analysis and the feedback! I truly appreciate it. I get a little swept up in the details and I need to remember to come back to basics. I will refrain from just throwing a number out and hoping for the best though, I see headaches and heartbreak on the other end of that decision! I'm surprised at myself for not starting with the 65% rule (in case I decide to wholesale the deal).

Thomas Quinn Thank you, I appreciate the research. My realtor friend is obviously not giving me a tight enough (or thorough enough) analysis of the comparable data. The good news is she is willing to learn the right way and is open to guidance. So we will spend a little more time on comp analysis. A range of 215-230k tells me I should assume 210k, that means my offer would need to be no more than 44k. The house has town water/sewer, so that is a plus. I'll make an offer at 40k, and get my contractor in there to give me a more pointed repair estimate and time frame.

It's a pretty hefty discount, unfortunately this is an MLS listing, so I cannot make an offer directly to the seller. There are two agents that want to get paid on the deal at this point. That's a situational and a procedural question for another post...

Hello fellow investors, I wanted to post about a deal I'm analyzing. My intent is to think out loud ,if you will, and hopefully get some advice on my process.

To start I will provide the basic info, then my walk-through and research, followed by my personal analysis. Please feel free to jump in at any time and weigh in, I appreciate the feedback in advance!

asking 109,900
Single Family built in the early 1900's,
1742 Sq feet farmhouse
1.75 acres on a beautiful groomed (flat) lot.
Listed as 3 bed (4th possible)
1 bath (small, remodel)
Large 2 car garage (no reno needed)
car port
Walk In Basement-Concrete
Across from Cemetery
On a Main Rd.

My assessment:
small eat-in kitchen 7x13(full remodel)
L.R. 9x12 (Carpet and paint)
Hallway 12'(Carpet, remove paneling, paint)
Office 6x9 (refinish Hardwood, paint, remove paneling)
Bedroom 1 9x9(carpet, paint)

--The above area of the house is clearly an addition and overall is in good shape. It is also clear that the owner of the house was disabled (wheelchair) and it appears they didn't enter or utilize the rest of the house.

Bed 4/Bonus Room 9x9 (sheetrock, paint, carpet)
Kitchen 2 7x12 (strip, remodel to a mudroom/other area)
Stairs (refinish wood/paint, or carpet)
Bedroom 3 and 4 12x12 (wallpaper removed, paint, carpet)
Upstairs Hall (Paint, sheetrock)
Bonus Room 2 (Cosmetics)
Bonus Room 3 and 4 (Light Cosmetics)

The kitchen is the first room, this is in need of purgo or hardwood flooring and a full overhaul. The living room is off the kitchen and is in good condition. There is a hallway between the kitchen and living room. In the hallway there are two rooms and a bathroom. The first room is a small office with hardwood floors. The second is a bedroom in very good condition. The bathroom is smaller and needs updating.

There is a second bedroom/sitting area with doors at two sides of the room, and walk in closet. This seems to be the first point where the house was sealed off. I know this based on the peeling paint on the ceilings. As you walk through this room it leads to a second kitchen. This kitchen is seriously outdated (original) and would need to be brought down to studs. The flooring is salvageable (I thought about opening it up and creating a large open air porch area, as the screened in porch is outside this room).

Walking upstairs, it occurs to me that there may be lead paint, it seems very old but not in terrible shape. The two rooms at the top of the stairs are identical. Large closets, very old vinyl flooring and walls are in fairly good shape, electrical is newer, but needs updating to ground faults, etc. Walk down hall between the two rooms and there is another set of stairs. At the base of the stairs is a long (14-16') room. You can see the pitch of the roof, like a loft, on both sides of the room. There is a step down to get in and you have to stoop down to get in (kids playroom/storage maybe?). I continue up the stairs and at the top are two identical loft (roof pitch on both sides) style rooms, and I notice all the heat is up on this level (very hot and stuffy). In the basement there was water in small puddles on the floor, but overall it was fairly clean. Newer water heater and electrical panel. I saw water damage in one of the two upstairs bedrooms and a small patch of mold.

I'm not a contractor but my personal assessment of the property is this may be a deal with the right offer. I am thinking I cannot offer more than 60k. My layman's assessment tells me the repairs, especially if there are issues with electrical, will be in the 80-100k+ area. The ARV of the property, according to my RE Agent (team member) is somewhere in the 220-260 range. It's assessed at 185,900 and taxes are $2811.

Seasoned investors, speculators, and new investors alike I would like to hear your thoughts on the property.

Brian L. Well played sir! Keep up the great work. Don't give up on this post either, be sure to finish it with your results, It's like reading a book one chapter at a time...Can't wait for the next one! I'm in Western/Central Ma maybe we can have lunch some time or something.

I commend Jerry Puckett on his success, his marketing, and the fact that he is willing to provide insight and support here on BP! Watch for the next BP Podcast this Thursday, Don't miss it, you may get some advice from Jerry too!!!! Thanks again Jerry ;-)

Tim G. Thank you for offering your expertise! People like me wouldn't even begin to put a price on what folks like you do on BP every day!

BP has opened my eyes, and expanded my horizons. I am in it every day and I see things growing, building, and morphing into a much more cohesive structure than I ever could have imagined! I never could have even imagined the direction things have taken and the way my vision has taken form. The problem with trying to plan every step is that you have to have the experiences, pitfalls, advice, and revelations that naturally come as a direct result of moving forward before the end result takes shape. I intend to be the wholesaler who does the volume in my area, as well as the service provider who has the connections to pull it all together in a heartbeat for the out of area investor for a rehab flip or buy n' hold proposition.