All Forum Posts by: Robert Yuhanick

Ill swing by. Look forward to seeing you all there. 

systems only work if you use them. I have used Kents systems and it's where I make most of my money wholesaling. The first deal you do pays for the system plus some. It saves you tons of time as well which is immeasurable.  Definitely well worth the investment 

I use both the find motivated sellers now and find cash buyers now. While the response rate on the cash buyers is around 3%, the motivated sellers is around 10%. I've had great success using both of these products and made my money back in the first deal plus some. I don't focus on wholesaling that much, so I have been consistently doing 1 to 2 deals a month just to help me buy more rentals. If I ramp it up, I have no doubts it would go great.

I am an investor (landlord mostly) that has stepped into wholesaling for a new strategy. I am being flooded with requests for seller financing from people who don't qualify for traditional. Lets face it- if the house is being wholesaled, 9 times out of 10 IT won't qualify either!
My first question is- is this common? My second question is- Does anyone use hard money lenders to get these deals funded?
The hard money issue is difficult because I do deals in West Michigan. Thanks to the issues Detroit has been facing, we are not exactly the most attractive state. Things are getting better, and I believe that is being seen.
There are many jobs opening up. People are finding work again, but the recent collapse has left their credit in shambles.
It would be nice to be able to 1)see if we could get them funded and 2) get the deals done.

Greg,
I had the same happen to me early on in my business. I had four sudden vacancies out of the nine total units I had. It took six months for my business to recover due to the drawn out circumstances. One unit had to be completely renovated!
I discovered that, in order to get through that situation, you need to build up a comfortable buffer. Where I was at, I didn't have enough income to cover all the bills and I went through my buffer a little quicker than I thought. Tenacity helped us through as well as some open communication with creditors. I learned that I needed six months worth of cash surplus to feel comfortable. I think it will vary with everyone and it is hard to gauge where you're comfort zone will lie

Welcome! I'm out of the Muskegon area! Good to hear from someone over here!

Hi, folks. I am almost complete with what I call my first "intentional" wholesale deal (my first one was me picking up land with one intention and ended up wholesaling after the deal fell through). The deal I found was on the MLS and picked it up for $16k. I recieved transactional funding for $1895. Closing on my end cost me $240. At the time of my sale, my buyer is buying the house for $20,000. The house's ARV is approximately $65,000. What would you guys do differently? Other than the MLS thing- I'm working on that.

Thanks,
Rob