All Forum Posts by: Alex Harris

1805 Snow Meadow Lane Unit # 301 Baltimore, Maryland 21209

1 Bed 1 Bath OFF MARKET Wholesale Turnkey Property in Baltimore, Maryland

1 Bed 1 Bath 756 Sq. Ft.

Asking $46k

Repairs - Under $5k (Minimal)

*DO NOT STOP BY THE PROPERTY AS A TENANT CURRENTLY LIVES THERE

This condo is perfect turn-key deal OR flip.  Seller originally inherited the property then rented it but needs to consolidate debt.  The property only needs some fresh paint and minor cosmetic repairs. 

The cheapest 1 bed 1 bath comp. in the area that has recently sold was $75k. This is the smallest property in the area being a 1 bedroom home and 95% of all other properties in the area are 2+ with very high prices in relation to this deal. If your looking for a great investment with little to no repairs, this is the one.

Current lease is up in August. Excellent tenant paying $850 per month (Seller setup a renter quick and could be asking more). HOA fees are $210 per month. The tenant always pays on time and keeps the property in good condition. Tenant is interested in renewing the lease if the opportunity is available. Great Cash flow opportunity.

$1000 Non-refundable Deposit

Cash Buyers or Private Funding

As-Is, Where Is

Call/text Questions or to setup showings: Alex @ 804-536-9128 / [email protected]

I have heard of this and it has also been recommended to me from a couple partners. My question is what happens if for example 5 days later (or however long), the deal falls apart and the investor wants his money back?  What if the title comes back with liens, issues, etc? 

I'm also interested as well. Thanks!

My personal situation is  a little unique since we do 100% online marketing and not direct mailers and other strategies which can cause skepticism.  It helps to have branding, professionalism, customer service, and a short story.

Sellers never ask, I tell them upfront but let them know we partner with investors locally (which is true).

What country are you in?  Is it not possible to wholesale there?  Were you wholesaling in DC before?

I would have focused on getting that person on the ground before I relocated but can't turn back time.  You can do it now by doing some networking and research (you can find a lot about somebody online).

You mentioned making offers with information from seller and pics which is definitely doable. Keep in mind that they "forget" half of the things that need repairs or simple don't know so when you do it like that there tends to be a lot more "re-negotiation" once you find out your repair estimate doubles or triples.  You have to be extremely thorough when getting the information. Sometimes if they seem "shady" I will throw in things/issues that they didn't even mention just to see how they react.

ME: "So you say thats all the repairs? You said it has a foundation issue?"  

SELLER: "Oh no I didn't - but now that you mention it, the floors aren't level and do tilt on the back....."

My best advice if your not a veteran and want to continue virtual wholesaling is find a local partner or "feet on the ground".  Add a little faith in people (after researching them). Do some deals! 

You might also find yourself saving time with the extra help, and getting double the deals with your extra effort.

Sure, shoot me a message or give a call

Would also be interested in brainstorming. We have more of a virtual wholesaler approach but at the very least connect connect on some local deals in ATL. That goes for anyone else serious about wholesaling.

Sounds good

Give me a call..804-536-9128

Well first step could be considered knowledge in my eyes. Marketing is def. next on the list.  When you've been in the business a while you can diversify marketing efforts but starting off, I think its best to identify 1 or 2 of the top methods and then going full blast.  I personally see people go 1 of 2 directions in regards to marketing. 1) Direct mailers or 2)Webdesign and SEO/PPC. Figure out your budget and think in months, not weeks. Then figure out which option your more comfortable with. When the leads come in, respond immediately and talk to them like people (NOT THE AVERAGE GREEDY INVESTOR). Find their motivation and use that as a way to make the deal work.

When identifying the deal, take emotion out of the picture and don't get any properties under contract if it doesn't make sense to the end buyer.  Keep in mind no matter how hard you work to get the seller down on the price, if its not enough - the deal won't work. Also when you send terrible deals to investors, they will remember your name and ignore your messages. If they are real investors, they are getting multiple emails a week or even day by wholesalers and spamming bad deals is an easy way to get blocked.

Lastly, add qualifying questions to be able to identify good deals quickly.  We have some forms that ask multiple price questions like. 1)Estimated value of home 2)Asking Price 3)Minimum Offer You Would Accept.  This is something my partners are doing that I didn't think would work at first but now I see it allows me to pretty much know where the deal is going from the start.

Hope This Helps!