All Forum Posts by: Priscilla Z.

Hey @Allen Tackett ! I totally get it, we are in pretty much the same situation.  I offer my husband, LOL.  I spend my days homeschooling our girls so it's hard for me to get on the phone during the day, but he handles our day to day operations and it would be great to network with others that seem to be in the growth stage of their business like we are.

I also agree that giving back to others is very important.  I particularly like giving back to those just starting out, I remember starting out and reaching out to local investors for mentoring and no one would mentor us.  Once we got our business going we decided to give back and have been running a monthly meeting for about ten years now to just give back to others.  To be honest, this part is the most fulfilling for me.  Rental checks come and go, but helping someone beginning their journey is just so fulfilling.

Hi Ryan... something I ask myself when I find myself in your situation is.... If someone brings me a house for this price, with these repairs needed and this cash flow at the end, would I get excited about it?

Nine times out of ten I choose to rehab the property and keep it.  Sometimes the house becomes a headache and all of a sudden we find ourselves in a motivated seller position, but if we sit tight and let it play out, it will probably be worth it in the end.  I think $1,000 net cash flow is amazing.  

Now the question is, how long is it going to take and are you willing to wait?

I find myself in a similar situation, not because of lack of capital to finish the project but because of lack of time because our time is invested in two other projects right now.  I too have considered selling the house, even had it on the market, until I realized that I can't find a house like that for the price I paid for it anywhere in today's market, so even though it's costing us per month, its worth the expense and will be a great rental in the long run.

Hope this helps.

 Like I mentioned to @David Ramirez, for rural land you may just find an individual wanting to buy the land, or a neighbor wanting to increase their lot size.

 Have you marketed for an individual person that may want to buy it?  Street signs have worked for me in the past, also maybe do a search of the neighbors and send them a handwritten letter.

I've started to dive into this area myself and after wholesaling houses for about 14 years my conclusion is that wholesaling land is slower than wholesaling houses.  

I have a friend who has done very well wholesaling land but he did tell us that builders are slow and need to be reminded of things.  I'm sure that's not all of them, but it has been his experience.

I reached out to many builders and while I was able to get responses, it did take them a while.

I would tell you go ahead and start building relationships with them, but also find out who the selling agents are that are selling land in that area, there's usually a handful of them doing most of the transactions.  They have already been doing business with the builders so sharing a piece of the pie with the Realtor will get your deals moving much faster.

@Lala Mala - just curious what you ended up doing?

What works for us is reiterating with both the buyer and the seller when signing the contract that they are happy with the price they are getting.  They both know we are going to make a profit.

I've bought from wholesalers in the past and they've made $20K+ on the deal.  GREAT for them, they deserve it, they did the hard work of finding the deal and made it easier for me to just go in and fix it.

Remember this business is about houses, but it's about people too...so go in forming good relationships with both sellers and buyers and then you'll know what to do on each deal.

@Sebastian Valdez - Maybe I missed it but I didn't see anyone else mention it, look up the person and the family members on Facebook.  Also, just knock on the neighbors doors and talk to them personally.  If the house is an eyesore they will probably be happy to give you the person's contact info so you can buy and fix the house.

 I agree with you on this.  We got into real estate in 2009 when everyone thought we were crazy since the market had just crashed.  I was VERY tempted to sell some of my rentals these last few years of crazy appreciation BUT I thought to myself....where would I find a house like THIS for the price I paid for it 10+ years ago?  And....the rents continue to increase.  I'm still seeing the 2% rule in my portfolio so I resisted the temptation to sell.  Now on the other hand, the houses I acquired over the past few years I have absolutely no problem selling for a profit to pay off some others.

@Christopher Reeder & @Tyler Gibson - I'm currently looking for a property manager for one of my properties in Winter Haven, can either of you recommend someone?

Hi @Jaden Schmid, welcome to wholesaling!  My husband and I have been investing in Brevard county for 13+ years now, we have rentals, flip and occasionally wholesale.  When we first started we wanted someone to guide us but no one would so now that we have established our business we host a real estate meeting for all types of investors the third Monday of each month, and another meeting for only wholesalers on the first Monday of each month.  Both meetings are in Palm Bay, and they are very informal, just sit around and talk deals and real estate.  If you are interested in coming send me a direct message and I'll provide info.