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All Forum Posts by: Sam Bhullar

Sam Bhullar has started 3 posts and replied 32 times.

Post: How are you guys feeling about Sharpstown? Houston TX

Sam BhullarPosted
  • Investor
  • Pearland, TX
  • Posts 39
  • Votes 24
Originally posted by @Isaac Magee:

Funny that you should ask…

I just completed my first Flip (Yay!). Coincidentally, the property was located in Sharpstown; and to answer the question, I think Sharpstown is an awesome place to Flip or Hold. Before you take my advice, please keep reading.

This is not one of those “I did awesome” stories; this is more like “I survived and I have the scars to prove it” story. I purchased the property from a wholesaler using a local Hard Money Lender to finance the purchase and rehab. I interviewed about 10 general contractors and did not select the cheapest bid. Ten critical mistakes and 13 months later, I was able to sell the property and be spared a slower death. So, I’ve made all the mistakes you can make and I’m an open share if anyone wants more details. The numbers…

Acquisition: $120,000

Rehab Cost: $90,000

Holding Cost: $24,700

Sales Price: $245,900

Net Profit: -$1,082

Duration: 13 months

https://www.redfin.com/TX/Houston/7622-Troulon-Dr-77074/home/30155807

What went wrong with the deal, that it took 13 months to sell it? 

Post: How do large wholesalers assess repair cost?

Sam BhullarPosted
  • Investor
  • Pearland, TX
  • Posts 39
  • Votes 24

@Patrick Philip

Get contractors to do that work for you. There are plenty of guys who will go out for you for free, a few times and provide you a decent estimate. Once you have the money coming in.. you can always start paying them for their estimates. But in all likelihood, you will have to go out with these contractors to the property. This will also teach you to estimate repairs in the long run. Once you are big enough, which will take some time [year(s)], you can always hire a full-time contractor because by then you won't be just wholesaling but diversified into rehabbing, new construction etc.

Post: Largest Barrier of Entry for First-Time Investors?

Sam BhullarPosted
  • Investor
  • Pearland, TX
  • Posts 39
  • Votes 24

I think it's the fear of overpaying and getting stuck with the property. The original idea is financial freedom but "what if" makes one hold back on getting that first decent deal. To some extent it's true.. you want financial freedom and by getting a bad deal and getting stuck with it and losing everything you already have is the single biggest thing that holds people back. You want things to get better and not worse! 

Also, all these gurus make it seem that there's tons of easy money to made but when an individual gets serious and starts to analyze properties, he/she finds there aren't the deals that these guru's preach. So the search for that killer deal keeps going on & on.. lol :P 

Post: Pearland Networking meet up and breakfast

Sam BhullarPosted
  • Investor
  • Pearland, TX
  • Posts 39
  • Votes 24

Ah.. Dang it! I am out of town next weekend too. 

Post: Pearland Networking meet up and breakfast

Sam BhullarPosted
  • Investor
  • Pearland, TX
  • Posts 39
  • Votes 24

I will join you guys this time. What time?

Post: wholesalers, investors, and investor friendly real estate agents

Sam BhullarPosted
  • Investor
  • Pearland, TX
  • Posts 39
  • Votes 24

@Anthony Ellison

Sorry man! I am going out of town with family. Let's try to catch up next weekend or so.

Post: wholesalers, investors, and investor friendly real estate agents

Sam BhullarPosted
  • Investor
  • Pearland, TX
  • Posts 39
  • Votes 24

A shout to all the real estate professionals (wholesalers, investors, and investor friendly real estate agents) in Houston (and suburbs) to connect with one another. Let's all meet over a cup of coffee or maybe some beer, and share our experiences, educate, coordinate and see how we can help one another in achieving our goals. 

Post: Realeflow

Sam BhullarPosted
  • Investor
  • Pearland, TX
  • Posts 39
  • Votes 24

Just tested Realeflow and didn't like it a bit. To top it off their customer service is horrible. I asked to cancel the free trial on my 2nd day since its just doesn't cut it for me. The rep started selling me coaching plans and when I refused, he just hung up on me. LOL

Try REIPro... I have been testing it for the last few days and really liked it. 

Post: Where to find End Buyers?

Sam BhullarPosted
  • Investor
  • Pearland, TX
  • Posts 39
  • Votes 24

@Sam R.

I heard those exact words coming out of Donald Trump's mouth. Not sure how media spun his tongue?!! 

Post: Where to find End Buyers?

Sam BhullarPosted
  • Investor
  • Pearland, TX
  • Posts 39
  • Votes 24

@John Thedford

You sound like Donald Trump to me. All Mexicans are rapists or drug dealers. All Muslims are terrorists. It's okay to abuse women etc etc.. 

Maybe it's time for someone to literally define the term "Wholesaling" to you? 

Wholesaling is a process in which a hard working individual gets a property on a contract for X amount and then sells/assigns his contract (not the property) to a prospective buyer for Y and earns (Y-X) amount. There is nothing dishonest about it. It is totally an ethical process. 

I know my comment is going to fall on deaf ears but with all due respect to you, show some courtesy for a fellow poster here on BP who is just trying to educate himself, stop being biased to the term wholesaling, and label every person wholesaling as dishonest and ranting your version of the story on every post related to wholesaling. 

I have seen the same level of bias from you on almost all your posts with little or no benefit to anyone. Sorry if I was harsh but I had to speak my heart out. Thank you, Sir! 

PS: Response to my post is NOT needed.