All Forum Posts by: Jeff Filali

If you get good deals with good numbers and don't be greedy, the buyers will be there.  Honestly, too many people worry about building a buyers list, just go get good deals under contract and they'll find you.  I get deals sent to me daily by wholesalers that have fictitious inflated numbers.  If you're honest about the numbers and leave some meat on the bone, the deal will sell itself.  If you have to try to make the numbers work for the deal, you either need to pass on the deal or probably need to look for a different career.  Just because you can get it under contract does not make it a deal. 

Another piece of advice, from experience in multiple business partnerships over the years.  I would highly recommend set it up where someone has majority voting rights, even if its just 1%.  After past experience I will never be part of a partnership where its 50/50. 

Welcome @Daniel Kerns to BP from a fellow OklaHOMEa REI!!

$20K PRICE REDUCTION TO SELL FAST!! I just received info on this Wholesale property that has been reduced to ONLY $67K!! ARV $200K+, was asking $87K, now asking ONLY $67K

Was asking $87K but they just called me and offering it for only $67K to sell ASAP!!

TEXAS-

Those who are successful or fail would probably be successful or fail with or without a franchise.  I'm sure it makes sense for some and not for others.  Some people have more experience building businesses and can do it on their own, while others may need a system to walk them through the process.  Many franchisees fail in all franchises, while many others succeed.  But it doesn't make either option wrong.  Do your own due diligence and do what's right for you.

For me, I looked into several franchises and decided I would personally benefit more by putting the money straight into my own marketing and investing.  But I also already had a lot of experience building and expanding businesses.  So to each their own!!  Good luck to all!!

Sure, everyone should wait until they have $100K+ saved... That will save more deals for the rest of us!!  That's the dumbest advice I've read to date.  I started with only $30K to invest and within my first 10 months turned it into over $160K in equity and receivables!! 

Day 1: ONLY $30K Cash available to invest

Day 300: $30K Cash + $90K in Notes Receivable + $25K in Interest Receivable + $95K equity in paid off property recently listed FSBO - $48K in Notes Payable

If you're worried about the possibility of a bad deal potentially ending your friendship, it may be better to just consider letting them be your hard money lender on deals. They'd still benefit and get a solid return, but it could prevent a bad deal ruining a friendship. 

I'd start by simply asking if they'd be interested in partnering on deals when you find really good deals that you needed a partner to be able to do. I'm not even sure I'd form a new entity until you knew for sure you were going to continue the partnership ongoing. A good JV Agreement may be sufficient at first, especially if both of you already have existing entities set up. An attorney could advise you better on that.

I agree with @Rick Pozos, keep your options open to do some deals on your own or be able to partner on deals with others as well.  Partnerships can be great or can be the worst decision ever.  Just make sure everything is in writing up front and all partners understand the intentions of all parties involved. 

The tenants have Section 8 vouchers which means a certain dollar amount of the rent comes straight from the Government or State, and the tenant is responsible for anything over that amount. I've been told you can get premium rent value on properties in less then desirable locations this way. Back in the day, if the tenant damaged the property, the landlord could be reimbursed by the Gov for all the repairs on damages.  I've been told they no longer do this though.  So not sure if its as good a deal anymore.