All Forum Posts by: Matthew Masoud

Hey James. I'm an investor from SoCal investing in the Cincinnati/Dayton area. Closed 17 units in the area with 10 more under contract. Let's connect.

I have a contract I can send over to you. We have a management company that works exclusively with short-term and medium-term rentals property. Let me know.

 I'm not away of any special ordinances in that suburb.

If you're looking for property management, hit us up. https://suprcap.com/superior-m...

We have Airbnbs and also manage tons of Airbnbs in the area. There are no specific ordinances limiting short-term rentals in Dayton, not yet anyway. 

So I made an offer for an off-market 10 unit property.

We've been able to come to an agreement for a purchase price of $600k but the seller wants to net $600k.

This is my first off-market deal, how much should I expect to pay in closing costs so that the seller could net the $600k.

I have estimates and rules of thumb for on-market transactions but don't know where to begin for off-market.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Tenants pay utilities. Major Capex items have been addressed in the past 12 months.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

 Who said I can't perform? I got this property under contract with the full intention of closing on it and I probably still will. I'm just exploring my options.

I'm fairly new to wholesaling myself but from what I understand you must be the agent listing the property or have the property under contract in order to market it to sellers.

Pretty sure marketing property you don't own, are listing, or have under contract is one of the reasons wholesalers get a bad wrap.

Run your numbers and if it works actually place and offer and lock it up before you share it with your cash buyers. If you want them to take your offers seriously you actually need to have them.

Backstory: Long-distance investor/flipper with 17 units in Ohio

So I found a 4-unit in Ohio that I put an offer on. I did an inspection and it turned out this property was going to need a rehab before I could rent so I was able to negotiate pretty aggressively with the seller and get a huge price reduction.

As I'm setting up my schedule for next month, I realize I'm going to be a bit overwhelmed with all the projects in my portfolio.

So I thought hey, why not post it on local Facebook groups and see if I can wholesale this deal? I've never done a wholesale deal but how hard can it be?

I start getting interest in the property and people want to come see it. Now I feel kind of lost.

3 out of 4 units on this property are occupied so seeing the property can get kind of tricky.

Do I just tell my agent that I want to wholesale the property and need access?

Can I just schedule for all the potential buyers to come see the property at once?

What's next if I do find a buyer? We already started the paperwork with Fidelity Lawyer Title do I just let them know I'm wholesaling it too?

As I'm sure you can tell I don't know what I'm doing when it comes to wholesaling.

Any advice is appreciated.

Matt