All Forum Posts by: Riley Holt

@Jerryll Noorden This post could not have been more timely. I literally dropped my original web hosting guy after Jerryll, true to his word, let me talk to him and find out what my website needed. Now I am working on my carrot site and am talking to rei Printmail about sending mailers soon. If all goes well I will report back but man am I glad I met Jerryll. He is a wellspring if knowledge. And also, investor carrot has the best site layouts compared to what I was using. 

Thanks @Michael Ohara. I appreciate the words of encouragement.

Hello all. I just launched a website for my market as well as an online marketing campaign. I feel that I have my site in a good place but my wife, who is supposed to be my partner, says it's too long and no one wants to read all the info. I informed her that a "motivated seller" is going to want to know that we are real and mean what we say. I told there that I am not marketing to the average home seller who has time for their property to sit on the market. We are marketing for those who want to take advantage of our quick, cash closings for various reasons. I look at every investor carrot site and it's not any longer than theirs. I guess i'm frustrated as I am putting so much work into credibility and SEO and she just sees it as a waste of time and money. I know that once I get a deal through this it will change things but I can't help but get a little down. I appreciate everyones thoughts on this.

Thanks so much @Jerryll Noorden. I always appreciate your advice and wisdom. 

@Jerryll Noorden I am actually putting those numbers on my website because I saw it on yours! I love the idea of being very transparent and letting them know how I'm getting my calculations. I know that the houses in Connecticut are more expensive than my homes here in Texas but I want to figure out a way to be honest and transparent without shooting myself in the foot (i.e. the seller seeing me taking a 25% cut off the top). Thanks for all the other replies. 

Hello all. I am gearing up for an ad campaign and getting my website going. At present I am trying to find off market deals for buy/hold, flip, or wholesale the properties that fit my criteria. I want to be as transparent as possible with my numbers and share them with the seller and possible buyers if I end up wholesaling them. 

Right now I'm thinking with wholesale...75% of ARV - repairs - wholesale fee.

BRRR....75% of ARV - repairs.

Flip- ARV - anticipated profit (30K?) - repairs - 10k (for listing and closing)

Are these reasonable? Also, how does one calculate their wholesale fee? Is it standard across the board or depending on the property type. I know 10-15 k gets thrown around as a wholesale fee a lot but I’m not trying to be too greedy. 

Any and all advice is greatly appreciated. 

Well I feel like the wind has been let out of my sails. So I met with the guy. I liked the property. It was gutted. Needed a ton of work. Shot my shot and came in at 28k. Probably gonna need 30-40k in repairs but the ARV would be in the 120k range. He said that it what he was thinking, we talked about title companies and that I would pay all closing costs. Ever since then I have had radio silence from him. I waited 2 weeks and left him a VM. Waited another week and left him another VM. I sent him a text a few days later just to see if he was still interested. No response. I feel stuck. Any advice would be appreciated.

Well I met with the owner and he seems interested in selling. The property needs a lot of work but I can imagine it being a great rental when it’s done. After I talk with my contractor I will give him an offer. Stay tuned. 

Thanks @Michael King for the encouragement. I will definitely post back. 

I figured I would post again in case anyone came back to this. I finally reached one of the owners but they are about to start rehabbing so that one is out. But I did talk to another guy and he is interested in selling!!!!!!!!! I am meeting with him next week. Fingers crossed that it all goes well but I'm excited at the possibilities.