All Forum Posts by: Regina Sitterley

The owner of this house had inherited it and was trying to keep up with the mortgage while doing the renovations himself.  This was difficult for him, as it is for many homeowners, and he fell behind. We got in touch with him through a referral from another seller we had been in touch with.  The best deal we could work out, in order to get the seller the most money possible looked like this:

•  $1,500 bring the mortgage current
•  $55,000 purchase the house subject to the existing mortgage (includes closing costs)
• $15,000 cash to seller at time of 2nd closing
• $30,000 renovations (plus holding costs)
• $10,000 2nd closing costs
  
  • Total cost: $111,500
• Sold for $150,000
  
  • PROFIT: $38,5000

Thanks, everyone.  I agree with the advantages you are mentioning about monetizing more leads.

One thing I've been advised of in the past is the concern of dramatically increased liability as a licensed person when rehabbing.  Any thoughts on that?

Hello all.  What do you think the benefits and downfalls are to having a real estate license when wholesaling?  In what ways are those pros and cons the same or different with rehabbing?

@Eugene S.  Atlanta is a wonderful market. So is Augusta, GA where the prices seem to be well within your range.  I live in these areas, so I'm not accustomed to using a team.  I would LOVE to hear how you structured your team and are making decisions from that distance. 

@Jade S. - Hello! My property is in the Mount Vernon Subdivision of Augusta.  Does that help you? The zip is 30906.  I'm just learning the areas myself.

@Shaine Cobb @Jade S.

Hi guys! Did you ever find a wholesaler in Augusta?  I have a deal under contract and am looking for someone to work it on that end (I'm in Atlanta).

@Whitney D.

@Jason Wiles

@Sharaya Rutherford

Are you all actively investing in Augusta?  I'm from Atlanta - just started transitioning into Augusta.  I have a deal under contract that I want to run by someone in that area.  Let me know!
@Sharaya Rutherford

@Kyle K. - are you still offering this list?  My assistant has been hunting for leads but it's taking a long time.  I'm wondering if buying leads might be more cost effective. 

Hello all.  The legal and insurance considerations for rehabbing are fairly clear to me.  What about as a wholesaler?  What specific documents or insurance plans are recommended for the best business and personal protection? 

I am accustomed to using mls in my area of Atlanta.  Now that I'm expanding to the Augusta area I don't have access.  What is the best resource to find recent comps within a radius?