All Forum Posts by: Sean Casey

Does anyone know if BP offers contracts for a wholesaler such as buying and selling if they're a PRO member? I'm looking for a contract for my leads to get under contract and a contract for selling to the investors I'm selling these deals to. Anything helps. 

Thank you!

Hello Everybody! I have a situation with a seller in need of some help. He contacted me today about needing to sell bc he's going through a divorce. The house is estimated in the low 90's ARV but he still owes 80k. He wants to "save" his credit from taking a hit. He's not worried about making anything on the sale. He said it needs new carpet and the hot water heater leaks around the valve. Nothing else to repair. If that checks out, is there even anything I could do rather than possibly going the short sale route? Which would effect his credit obviously but not be as bad as a foreclosure. I'm still somewhat new to wholesaling and this is the first time I've had this issue. Anything would help. Thanks a lot!!

I guess I should've mentioned that this will be a wholesale deal. I don't have the funds or experience for a hard money lender to be able to flip yet. 

@Miguel G. Hey man, thanks for the quick response! When I asked him what his minimum number would be he said he wanted to look into it a little more. He wasn't expecting me to get back to him so soon after contacting me. That's why it's a little difficult to determine how motivated he is just yet. I checked on Zillow for comparables but I'm glad you mentioned Redfin. I haven't heard of that one. I wondered about the 70% rule so I'm glad you mentioned that! Thank you for the tips. I'm definitely making note!

First of all I'm going to pursue this lead regardless of the actual chances of it turning into a deal. I want to get the experience under my belt. 

I have a possible seller in a higher end area in the Kansas City market (Johnson County). The home was built in 1991. 5 beds 4.5 baths 3340 sq/ft. Finished walkout basement with half-kitchen. Granite in the both kitchens and tile. The comps in the neighborhood are anywhere from 430-530k. Doesn't owe much on the home. "Good amount of equity" He wants to see if selling to an investor would be easier than having to deal with an agent and listing the home. He and his wife plan to move now that his kids are all moved out. It was a little difficult determining over the phone how "motivated" he was so I'll surely figure that out when we meet in person.

The owner says there aren't a ton of repairs. Here's what he listed off the top of his head. Two of the upstairs bathroom showers have cracked tile. Also the plumbing may need "rerouted" to those showers. There are two AC units. One is the original from when the house was built and the other was installed in 2005. The patio may need redone in the back yard. He said there's no structural repairs needed, no wood rot, no bugs or mold. Obviously this is all speculation but the guy seemed pretty straight forward. I'll know more in a couple days when I can do a walk through. 

*According to the county records online, the appraisal says 389k for 2016 but the number of beds and baths don't include the finished basement or the upgrades to the kitchen. Does anyone use those numbers for a reference?

*Does anyone have any input on making a more accurate repair estimate? Things to look for other than age of appliances and the things already stated. How to determine repair costs on a bigger semi updated home. 

Again this is my first ever lead and/or experience so as you could imagine I'm a nervous wreck lol. Any and All input would be greatly appreciated!!

Thank you!

These Podcasts are so addicting! I've listened to about 20 in the last two weeks. I think I've just about covered all of the Wholesaling shows. Very good information and lots of inspiration. Does anyone have any recommendations for beginners trying to get into wholesaling and fix and flips? I could listen to these all day lol. These guys are awesome!

@Aaron Brown ^^^

@Connie Covert Do you have purchase agreements and assignment contracts for Independence, Mo or  at least near here so they'll be similar? Maybe I could use yours and have them looked over to see if they are legal for my area! If so I'm new to the RE world and trying to find somewhere to find these contracts. It would be greatly appreciated!! 

That's awesome @Chase Harris. Thank you!

@Account Closed  That makes total sense. I just didn't know if they had loans based on property values for rentals like they do on fix an flips and commercial deals. Thanks for sharing buddy.