All Forum Posts by: Rick Martinez

If you are needing  real estate wholesaling contracts , website or marketing tools check out ContendMarketing.com. 

A custom website can cost around $4000 so to use a company that builds specifically for real estate and uses the monthly payment membership isn't a bad deal. This Carrot Website alternative will do all the design and setup. Plus you get a free company video. Worth a look for sure.

 There is another called leadpropeller that may have different templates. Or you could use a fiverr for investor websites

I have not. It seems like it is not a strategy that people currently use. Plus right now lenders seem to be requiring me a down payment which is not allowing brrrr.  Its fine for a flip cause I will make money back but to buy and hold I dont like having so much of my own money tied up.

I don't know a roofer for you but I have found it helpful to join a couple of real estate investor facebook groups and people are very helpful with local referrals there.

I need honest opinion..what should my cut be providing leads to wholesaler. See my business model below.

I found a wholesaler to team up with. I'm good at online marketing. I created a website, did SEO and now just recently am paying BIG bucks for Google Ad spend. The website is starting to produce leads. Out of about 12 leads 4 where hot and 2 are about to get closed on for a profit of $15k total on both leads. My cut is 20% of his assignment fee. So I get $3k and he gets $12k. After my adspend bill my profit is actually $1,500. Doing this website has proven to be a challenge because of all the competition, but I got it ranking very close to the top organically. I feel like I provide a great marketing product and its worth more than 20%. Do you agree or disagree??

There is a local home builder that can build a small 3/2 house for about $165k. If I was to negotiate buying a few houses from them and getting the price down enough would a bank/lender allow me to brrrr new construction? Or maybe I find the land and am the contractor. Anyway has anyone done this?

Russell,

I was thinking about it and I may have told you and Lili wrong on the section 8. I think I actually get more then the $700mo when including the voucher. Property manager uses that extra to go towards gas and any repairs. But like I mentioned I'd rather you talk with property management to get exact numbers.

Thanks Frank.

Russell and Lili,

Here is property info. 

Located at 1110 e 64th st Tulsa OK. Few miles south of the new Gathering Place.

Section 8

All units

4 units - 1000 sq ft each.
2 bed 1 bath in each.
Kitchen, Bar, Living and dining in each.
Parking spaces out front.

Tile floors installed in 3 units through out. Some new windows. 3 brand new furnaces and 2 brand new ac units. I'm pretty sure the other hvac system is newer based on appearance. New interior and exterior paint. Newer appliances.

Tenants covers electric bill.

I pay water bill which averages $120-140 month

I pay gas bill. Not sure average because property manager pay it out of rents.

Insurance $175 month

Dumpster $55 month

Property taxes are $1880

I get approx $675 - 700 mo for every unit minus the gas bill, repairs, management fee. If you were interested in property I would want you to talk with my property manager to make sure they get you all the correct info. I just want to make sure I'm not forgetting anything.

Thanks!

I have a multifamily 4plex in Tulsa that was on the market in late summer and eventually went under contract, but the financing didn't end up working out for buyer. So my question is multifamily like single family homes where you wait until April/May to list at best price or does the time of year you list make a difference?