All Forum Posts by: Robert Uceda

you need to be careful of making assumptions about me or my standard of living - it comes across as lacking tact.  and stop putting the mentor on the pedestal.  I need people on BP or elsewhere who can problem solve, not tell me the chances of finding a deal as 0.1% which is insulting.  You have gone too far and stop right now.  Just because I said I'm not fond of driving the gas guzzler (tongue in cheek) doesn't mean I'm poor or lack gas funds.  Driving is an option, just not the favorite.   You don't know what resources I have.  I did not start this post to brag at all.  I am looking for some constructive answers.   If you have nothing positive to say about me, then don't post anything here.  Being open to input from anyone else here at BP doesn't mean I lack with what I have already.  It goes a long way to absorb as much as possible and not put all your eggs in one basket. 

That would not surprise that the cost of rehabbing would be higher than 70% of the ARV. I'm sure it's competitive on the MLS with many other investor vying for the cash buyers as much as I am or more. If you have any other suggestions on finding more promising deals, Bill S., that would help indeed. I am getting the hint that going to auctions, networking at meetups with other investors, or driving my SUV out to neighborhoods sounds like my best bet.

I know that meeting a contractor would be the right place to start.  thanks for the input.  Last question, where did any of you go to create your bandit signs? Home Depot, Leows?  Is it just plain corrugated cardboard?? Excuse my ignorance.  

I am going to have to drive for dollars this Thursday all day, geez whiz. 

Ben Wilkins, I could certainly use your help on developing the tool you are referring on this thread i.e. estimating the costs, which is not included on the Bigger Pockets calculator. I don't want to take up too much of your time. It would help tremendously how you arrived at those repairs, since like you mentioned 70% or less of the ARV would more than likely persuade investors out there. What is the best way to reach you, here on BP contact? e-mail?

hello, I read all your suggestions Chris Lopez, Matt M and Bill S. I understand how difficult it is the real estate market and I am not bragging about my mentor who knows more than me. I am wary about how finding properties and selling them to other investors would turn out?? If I can close 1 wholesale deal this month, I would be relieved knowing there is light outside of this Eisenhower tunnel. I need to pay off $40,000 government student loans badly! I hate being in debt. I think using Redfin would be a great idea. I wish I got some valuable input on which houses on MLS are strong indicators of promising deals, granted it's beyond super-competitive. Which makes me want to create bandit signs (however you call them) and post them near Leowws, Home Depot, or like one of you said, drive for dollars at several neighborhoods (Englewood, Denver, Lakewood, Aurora, etc.) and look for dilapidated houses that need fixing. I don't have a choice but to 'drive for dollars' on my gas guzzler 1989 SUV.

hello, I have done my due diligence to follow up on a mentor who has already been successful closing hundreds of deals for decades wholesaling. He is already successful and a proven winner. He instructed me to find a real estate agent who can supply me with a list of properties in distress (fixer uppers). I found one reputable one with Keller Williams here south of Denver. My question is - what do you look for in particular that indicates me that any one of these properties listed on the MLS are negotiable for a possible close? one that helps me get a seller to sign an assigned contract and close it with another buyer (another investor)? I already find it very useful to utilize the Bigger Pockets calculator, which I read and watched the tutorial. Thoughts on finding prosperous deals (properties below retail value)?

Robert 

Denver tech center resident

p.s. I'm also aware that I would be competing with several other investors with MLS properties. I realize I have to prepare bandit signs and other types of marketing that helps me to find prospective sellers and buyers.

great question about providing proof of funds letter before plunging any further into the wholesale deal.  One has to complete the due diligence.  I'm not sure why someone would forgo this critical step?? 

I'm having the same issue on a loan application this past week. I applied and was told that because I earn now on contract labor as an addictions counselor $2000/month, the debt to income ratio is too high ... and the private lender told me I do not qualify for any loans for the moment, unless I were to pursue the hard $$ loan to finance the purchase of the house.   How much of my own money should I invest in a loan each month before they accept my loan? $1000 for 6 or 7 months each?? Thoughts?? :(