All Forum Posts by: Summer Azul

One of my main goals in Real Estate is to acquire an apartment complex of 20-50 units. I have found several great deal on building that are in need of renovations. I am ok with the rehab aspect as well as the cost and time frame etc. My biggest concern is the rental income amount. How do I determine what the rent should be for the units? Am I able to charge more based on the upgrades that I install during the rehab? Lastly, I often times see apartments advertised for different amounts but they are within the same building... Is there a reason for the price difference?

@Jerry Puckett Thanks for that tip! I will be sure to throughly go over my contracts and be sure to include the proper wording so that everything goes smooth. I am glad that you pointed that out! ;)

@John Franczyk Thanks so much for the different examples. I like the method of using 2 contracts with the rehabber (buyer) because it eliminates the double closing (which was the most complicated part I have dealt with so far). I am going to try this method on my new deal next week! I will be sure to keep you posted. Thanks again John :)

@Sheila Berry I agree!.. I guess my next post will be "How to build a buyers' list?" haha :)

@Laura Alamery Thank you for the detailed answer. You described, what i thought to be a complicated process, in a clear and easy manner! This has helped me to understand the steps and the correct way to go about a wholesale deal. I appreciate you taking out the time to explain :)

Hello everyone. I am a Real estate investor and I have been flipping houses for a few years now. Lately my business has been growing and I have other investors that work with me in order to help them make money. However, I have been getting a lot of questions about acquiring properties through wholesale. I had a few meetings and several investors like the idea that I am able to find really cheap properties because of my huge network. They explained to me that they'd prefer buying the off market properties and/or more of the ones I flip (listed properties for cheap prices) and asked if I was interested in the wholesale process. 

I have researched and learned a lot of information about the process, but still want a better understanding of how things work. 

What are the steps?

How do most people present the wholesale deal to the seller of the property?

How do you keep the end numbers from either the seller and the buyer?

Do you give the buyer the address of the property (for viewing) if you haven't obtained a contract with the seller yet?

What should or should NOT be included in the contracts for both the seller and the buyer?

Thanks in advance for any information, as this will help me transition faster in my wholesale venture! I appreciate any and all advice :)

My first flip took me about 6 months. Although I had done extensive research of the business for about 2 years, I was very nervous. I self financed it from my personal bank account, so I was very afraid of losing money. However, I used all the strategies and things that I had learned, and it helped me to stay on top of things. I ran into a few issues with some of the repairs (I had to replace all the pipes as well as the furnace) but due to the fact that I expected the unexpected, I kept a calm game face and I kept moving forward. After the first flip, I felt more confidence in the process and I loved the reward! Just remember to research your market, set dates as to what needs to be done by when, and have pertinence (because it will be a process) and I am sure you will do great!

Good Luck :)

Hi, are you still looking for a wholesaler and a GC in Atlanta. My Company does all of these things and more! I would help out and work on your project. I actually have an off market property that you may be interested in about 20 mins east of Atlanta. Lets Chat! :)

Wow, great job!!! This is awesome and especially for your first go, I am sure this will sale quick. I am impressed and would definitely love to connect.