All Forum Posts by: Raven Walker

Hey, that was great insight. Do you have a favorite? looks like we are in the same area. 

@Peter Mckernan wow that’s great. How many properties do you buy a year now?

@Marlen Weber that’s great! Have you bought any more houses

@Robert D Wade III

I hope I’m able to write this correctly but here’s what I would do.

I’ve been wholesaling for about 4 years now. The way you describe the house, it clearly needs some improvements. Set a new tone with your landlord. Instead of asking him to repair the house. See if he is willing to sell it to you.

Put it under contract for x amount of dollars depending on your market and sell it to another investor in your area that is willing to let you “watch over” and live in the property. Of course you still want to offer some form of rent to him. Add value to the new investor. With covid and everything your current landlord probably doesn’t have the money to fix the house honestly. Have you asked him why the repairs haven’t been made? When dealing with sellers, asking why in maybe 3 different ways always got me to the root of why they’re selling.

But my theory in this situation is you would be relieving your current landlord from repairs, and the moral obligation of knowing he has to do the repairs. And you will be adding value to the new investor by providing immediate cash flow by paying rent and I’m sure you know the property inside out so you can tell him everything that’s wrong with it and include “but the things that need to be repaired immediately are xyz”. In my mind, everyone wins in this scenario.

You get to stay in your place, it’s cold right now but space heaters and opening the oven for heat works. Lol I grew up poor, opening the oven is the best heat I’ve ever felt, don’t forget to crack a window to allow ventilation.

You get to make a little bit of cash off the wholesale deal as well. Don’t go for the gusto but run your numbers or write another post on here for wholesalers in your area, I’m sure there’s one that will help.

Best of luck to you. If you need contracts after asking your current landlord to sell let me know. I’ll be happy to send mine over

Hey everyone,

I’m curious to know everyone’s entry into investing? What sparked your interest and also what was the first step you took into financing your first deal?

@Kwame Amoako good morning. I actually have an fha on my personal property already so I’m not sure if I can use another at the moment. I also don’t mind using a conventional loan. Right now I’m in the process of finding a good lender. Hopefully one that is also an investor

@Ruby Ruiz being a wholesaler myself. It’s a toss up! I know that I have certain tools to do my job better and I also know I do a good job pulling comps and repairs. These are words that came from my repeat buyers. I also study the markets I’m in. I rather not put out a bad deal because that makes me look bad. Lol sometimes my “competition” complicates my job because we’re contacting the same ppl and if I’m not before them, I’m pretty much cleaning up their mess which makes my job harder. But if you are considering working with a wholesaler, allow all of them to bring you deals, evaluate them yourself. And when you find one that is most accurate and consistent, build a relationship with them. I personally only work with about 4 big buyers in my market. I know what they want, I guess you can call it low hanging fruit but I also rather only work with buyers I know are gonna close. Just like some wholesalers are trash, so are a lot of buyers.

@Shane Hedeen hey Shane. Quick update! Lol going thru a few of my old discussions. I am doing really well at wholesaling! You gave the best advice because that’s exactly how the story reads! Failing forward was the only way to make it happen! I hope you’re well! Happy holidays

@Dalyn Hazell I completely forgot about the refinance part! Thank you for reminding me! Okay so that makes things a bit more clearer because that narrows down the options of what town in my city I can do this if I do choose to go the hard money route.

@Dalyn Hazell

Thank you dalyn for your feedback!

A typical fixer upper may be around $40K-60k

Also what I got from hard money lenders is that they usually want their money back within a year. Is this true and is it ideal for a rental? I always thought hard money was best for flipping.