All Forum Posts by: William Murrell

Not enough info!  You spoke with them and that's an important first step, no doubt.  But what did they say?  Why are they selling? How much equity do they have?  What is your goal with the property?   We can help you get to your "X" on the map, but only if you show us where it is.

Not enough info to answer.  I'm assuming you are looking to buy and hold?  Without all the numbers, we can't assess it any better than you can.  The more you give us, the better we can help you!

My market is most likely wildly different, but that sounds low.  I'd ask for references and I'd also ask other contractors in town what they thought.  Seems light, but if the other contractors are on board then maybe it's not that ridiculous.  Or they'll tell you he's full of it.  Usually they'll be quite willing to tell you a) if he's accurate with his figures or b) why he's not.  It's possible that he's way lower per sq. ft. but uses the worst subs in town to provide a bargain basement product.  Start asking now!

"I'm looking for a mentor" is too generic.  A mentor for what? For buy and hold? Wholesaling? Flipping?  Note investing?  Read everything you can and listen to the podcasts and then figure out which aspect of real estate investing speaks to you.   Then you can come back and ask for a mentor to help with "X" once you figure out what "x" is!  There are tons of viable mentors here, but they need to know which aspect of the game you're focusing on.  For instance, a wholesaling mentor might not know a thing about note investing.  And vice versa would also be true.  We can help you reach your goal, but only if we have an idea of which direction you're pointed!  Good luck out there.

Send something back!  If you ever get a tenant that is this polite, pays rent on time, and takes care of the property, you need to make sure you do whatever you can to keep them in the building.  Repairs aren't what kills you; vacancy is!  Make them stay.  And congrats on being a good landlord!  You're doing something right.

Not enough info. No indication of ARV or repair budget. Assessed value is not that helpful. Without the info I asked for, there's no way of telling if there's enough meat on the bone to bother wholesaling.

Once it's listed for sale in a public venue, it is no longer truly "off market."  Now, you could absolutely have an owner selling a property they own on one of the for sale by owner sites without a broker and the associated commissions.  But I can just about guarantee they're going to be asking way more than is possibly reasonable.

Check out the biggerpockets Podcast episode 39.  He has some monster tips for making it work.  Good luck!

Don't go too far back or you run the risk of finding people who have already sold.  400 people is not a bad starting list.  Don't forget to keep at it.  Most deals are made after several points of contact.

Seems low to me.  Maybe dial in your criteria?  Seems like you'd get more from a reasonably constructed list like that.