All Forum Posts by: Quito Keutla

@Ryan Dosenberry Yes, I disclose per our licensing rules, My contracts states clearly my license and I also have a conversation with seller so its super clear.  Like @Stanley Bronstein mention you'll never get in trouble for disclosing.  

@John-David Hails Thanks for sharing, I'm starting the process myself as I want to aquire large multifamily units.  Right now I'm taking the time to learn and connect with other that are doing what I want to do.  Like you all the calculations seems daunting and all the stuff that goes into doing the deal. Thankfully the BP community has lots of info and resources.  Happy Investing!! 

I've been licensed for 15years and just stared doing wholesaling about a year ago.  For me I like the fact that I can get access to the comps, leads through expired and cancell listings and have access to preview homes to get a good indept understanding of micro markets in my area.  Also networking with other agents are great as I've sold a couple of my wholesale properties through other agents and also acquire wholesale deal as well.  Most agents don't understand wholesaling and over look the opportunity to pick up a deal themselves. 

If I find that the margins aren't there for a wholesale I'll pick it up as a traditional listing.  The disclosure to the seller that you are an agent is not an issue for most sellers, as long as you're transparent of your intentions.

It is not necessary to startout with a license and having one doesn't hurt either.  If you do get licensed you could even help friends and family buy a house while you're at it.  

Happy Investing!!

@Robert Mundras  Wholesaling is a great way to get started as you don't need any money to acquire the property. I wished I've learned about it sooner, I just started doing it about a year ago. The books @Mike G. are on point I've read most of them on his list. In REI you don't have to own the asset you just have to control it (I think it was in Rich Dad Poor Dad) Happy Investing!!

Investment Info:

Single-family residence wholesale investment in Snohomish.

Purchase price: $408,000
Sale price: $486,000

This was actually my first Wholetail deal. The property ARV $530K so for a flip the margins weren't there, however for an end user it was pefect, the house was very solid and move in ready, just dated as it was built in 1978 the buyer was a contractor looking for his first house. He was thrilled as the work required didn't have to be done right away. I paid a realtor 3% for bringing me a buyer. I still made about $60k on the deal.

I agree with @Bjorik Mutize Raise the money!! Like you @Dakari Mitchell I'm new to the multifamily game so I'm learning what I can and will take the necessary actions to make it happen.  You're at the right place here on BP, I'm learning so much in just a few weeks since I started  plugging in. Funny I joined last year but didn't take advantage of the info but now I'm ready, Happy Investing!!

@Mike G. I'm currently using direct mail, which has been ok as the leads I've been getting is more retail so I ended up listing a couple of those (Paid for the 5 months of direct mail).  However my sphere is what's been getting me the most leads right now.  I know that having a system to automate lead generation is the key so I am exploring social media and will focus on those strategies for the next 6 months.  

@Russell Brazil You sure do know your area. Having a Big company move into town really creates growth and opportunities for the community. For REI who understands the market this could be the right time.

@Mike G. Great posted! My current stategy right now is to wholesale for cash build up and income.  As my intention is to get into the multi-family for longterm cashflow and growth.  

Wow!! @Stacey C. that's Awsome, what a way to start building your portfolio. I wished I had done that when I started out in REI. Keep rocking it :)