All Forum Posts by: Robert Treakle

Hello,

I am a new wholesaler. I am working on a deal to offer an out of state owner. The property is a 720 sqft one bed one bath condo south of Boston. I estimate about 10k in repairs, mostly aesthetic. My comps place the ARV at $172000. I will take a 2500 dollar profit and I am estimating the closing costs at $5000. What sort of profit would a fix and flipper look for in this type of project? I estimated 10k however this is only a 6% profit and according to my research, most look for over 10%. I am struggling to find a good price that the owner will accept and that I could turn around and sell to someone with relative ease. Right now the price that I am calculating is $141000.

@Chris Grenier I think I was definitely too haphazard with this first round of mailers so I did not record either of those things. I believe that I can go back and find those stats though. As for the FB Campaigns and Google Ad Words, I had thought about that, but I had always assumed that they would be out of my budget. How do they compare price wise to DM?

@Steve Bracero Thank you, I need to start working more on tracking and managing my list

Hey @Steve Bracero

I have been keeping two documents, one original and one edited. I dont touch the original and remove people who responded of the second. Now that I am thinking about it, that is probably not the most efficient method. Do you have any tips and pointers for tracking leads? I am going into my second round of mailers tomorrow.

Thank you, this helps me quite a bit. I have found a good amount on wholesaling and how to generate leads, but I have been struggling to find anything on how to manage lists and leads

Hello,

I am new to direct mailers. I sent out a list of 1000 yellow letters about a month ago and I am preparing to send another list soon, however I am not entirely sure about some modifications to the list. I have removed people who have called and requested not to be mailed again, but should I also remove people who called in but did not turn into a deal for one reason or another? Any information is appreciated.

Thanks

Hi Jeannie,

Thank you, I'll look into it, I tried using the Wholesaling calculator and it gave me way too low of a number. 

Hello,

I am very new to wholesaling and I am looking at making on offer on a property but I am struggling to figure out my offering price. The property is a 2 bedroom 1 bath 745sqft condo in Braintree Massachusetts. It is currently a rental property with a tenant until November. The rent in the area is around 1600/month. The kitchen was renovated two years ago. The property from what I hear is in decent condition and the ARV based on comps is about $185,000. The owner is not particularly motivated but is willing to sell if he likes the price. Because of this I am considering other styles of deals beyond the simple cash deal, such as owner financing.

My struggle is that I am not sure how to calculate the repair costs. I have heard that a quick and dirty method is to multiply the square footage by anywhere from $7 for a property in good condition to 15$ for a property needing significant repairs. Is this method valid? Once I have that, I was thinking that I would take 70% of the ARV minus repair cost, minus the profit that I would like to make on this deal. Am I thinking about this deal in the correct way or should I look at it from another angle?

Thank you.

I was working at a desk job in the operations department of Brown Brothers Harriman as an intern and I decided that the 9-5 desk job was not somewhere I wanted to spend my life. I did a little research and discovered the advantages of real estate investing, but of course it is expensive, especially here in Boston. I decided on wholesale because when I weighed the start up expenses, it was something that I could afford and fill in the rest with good hard work. Once my internship was up, I took my savings, started a company, and here I am. 

I would like to use wholesaling to fund a buy and hold real estate portfolio.

Hello, my name is Robert. I am 20 years old and I just started a wholesale business in the Boston area and I have yet to do any deals. I am currently running a direct mail marketing campaign. I am looking for investors and advice on how to best go about getting things going. Thanks.