All Forum Posts by: Ricky Ostrom

1) Check out a website called city-data http://www.city-data.com/ and see if it can give you some demographics.

2) For target areas, start in neighborhoods nearby that you have knowledge about. You know the values of the houses, square feet, construction, etc.

3) I see no need to lock-box any house that you have not contracted.

4) What I do is print out a Google map of the area I'm driving, and highlight the streets where I have been.

Right, I'm just finalizing the terms set forth in the assignment contract. I'm not included or involved with the closing.

When I have a true cash buyer, they pass me a cashier check across the table right after closing. It never hits the HUD. Only when financing does it need to be on the HUD as an expense.

Bill Gulley and Al Bunch are both right and giving you good options.

One of the most downloaded documents in the file area here on BP is "Rehab Analysis Spreadsheet - Basic" http://www.biggerpockets.com/files submitted by J Scott.

Also check out this online rehab estimator http://www.rentreadycontractors.com/re/

Any estimate is going to be rough. You should learn to do them yourself. Here is a free rehab estimator online...

http://www.rentreadycontractors.com/re/

You could lease it back to her short term. Many buyers would like a tenant in place.

See the TREC Contract "SELLER'S TEMPORARY RESIDENTIAL LEASE".

http://www.trec.state.tx.us/pdf/contracts/15-5.pdf

See if the seller will carry a second mortgage on the $20,000.

Kevin Brown I don't do any more than grooming the lawn, hauling the trash and broom clean. You can call a trash person or charity to clear rooms of furniture and clothes for free.

Ben Hughes So true about wholesaler ARV's and it shouldn't be that way. You know the square footage comps and assuming that the rehab buyer is going to put at least mid-range quality materials into the house, it's going to be one of the better homes in the neighborhood.

Calculating repairs is the hardest part for a wholesaler. Each rehabber has different ideas about the project, labor and material costs.

One house I contracted had 5 buyers fighting over it. It was a total rehab job and I didn't see much of a spread. My ARV must have been low! From signing the seller to finding and signing a buyer was only a day.

Sharon Hiebing I'm only a member on that website as a wholesaler. You don't have to pay for their services unless you want a premiere account and get first grabs at the new listings, 14 days ahead of everyone else. If you're a serious investor, then it does pay off.

Yes, I have found buyers and sold three houses within days of posting on that site. The company is home based in Houston, Texas and puts on free conferences once in a while.

Since your located in Placencia, Belize, I don't know if it is suited for you needs.

BTW... I also use a website called http://www.postlets.com for listing deals and add the link my mail list broadcast.