All Forum Posts by: Ronnie McClain

@Darin M. I can't say if most do or not (I only use a couple) but I do know if they don't then essentially it is worthless when it comes to buyers trying to get the house financed. One of the companies I use always includes it and the other includes it upon request. Be sure it is included as some companies charge more for the report.

That is great news, man! Congrats on gaining the knowledge and lead :)  Best advice is to keep at it and be patient as it can take time for deals to convert - especially if you are reaching out to them and asking if they want to sell and they weren't already in the market to sell.  I have personally worked on some DM leads for over a year before getting a contract signed and others just weeks.

Curious, what is this skip trace search?

@Brad ShepherdThanks for the reply, I'll be sure to add you to my list.

Inspections (in my experience) always seem to come back and scare you.   While some of it may be nit-picky to protect the inspector, some of it could be cause for concern as well.  

Bottom line is if you are going to invest in real estate you need to be able to read an inspection report and know what should be addressed and what is OK.  I would recommend calling the inspector and explain to him what you are doing (flipping?) and he should be able to explain the extent of those issues and if they will be a problem or not for you.

Don't let it scare you, but be sure you understand it fully because if not it can hurt you.  If you understand it and use it appropriately the inspections can help you.

@Anthony Deringer

Our company uses Trinity Foundation out of San Antonio and they come up to Austin to do our work so I'm sure San Marcos is OK.  They have great prices and do free quotes usually the week of.  Be sure you tell them you want an engineers report on the work done if you decide to use them for the work.  

Tip: Have at least 2 companies come out to give you an estimate and be sure both of the companies know that there will be another company coming out to give a quote.  Keeps them honest and competitive.

Message me if interested.

Purchase $183,500

ARV $268,000

Repairs    $30,000

1340sf 3/2 w/ garage

.15acres 

Check out meetup.com to find some local investor meetups in your area and get connected with them. 

Networking is key and getting out there is the best way to do it - IMO.

Thanks @Micah Copeland @Dev Horn @Roy Oliphant @Renee Cato @Ryland Taniguchi

Curious, for all the licensed agents that are wholesaling or even just buying homes for cash to flip yourselves, do you provide BPO or CMA to your sellers even though you are not representing them?

In general what are your thoughts on providing BPO's for cash sold/gut rehab properties when a lot of investment type properties are sold off market? Would that not cloud the accuracy of the BPO?

Hello BP,

I was just wondering what everybody's thoughts were on wholesaling with a license and without a license.  I ask because I currently have a license and am considering going inactive.  I initially had it for the benefit of commissions and being able to list homes, but I'm finding it may not be as beneficial as I had thought being that the company is focusing all of its time on rehabs and wholesaling when at capacity.

What do you find the pros and cons of each to be relative to disclosures, marketing, bringing on new team members and how it effects your business?

I realize this discussion may have more parts to it than would fit in a blog post, but any information/direction would be greatly appreciated at this stage.

Thanks ahead of time BP!

Hello BP,

I have 4 rentals in the Austin area that the owner gave me permission to market out, so I am :)

They are in good shape from my understanding and don't need any repairs.  All with close to top market rents.

If you are interested please message me and I can give you the addresses if it matches your criteria.