All Forum Posts by: Tarek Demachkie

 Thank you

We have not been wholesaling for a long time but we have done few deals recently. I find that there is a little competition in advertising but whoever gets the call first pretty much got the deal if the seller is truly motivated. I see that every other week there is a new wholesaler that get into this business but disappears after a while. Maybe they give up. What we do is that we pick one area that we think doesn't have many competition and we target it. We put signs and place our cards every where in this area so people know us. 

I believe that no matter how saturated it is. you can still have deals if you do your job and never give up. Market, market and market. 

How to sell your house fast when it needs repairs.

I would like to share this article I just wrote with you guys. I wrote it for those who are looking to sell their house when it's in bad shape and they are short on time. Many people get shocked with our offers and think they are far from being fair. I decided to give a case study comparing selling through an agent and selling to a cash buyer. To read the article click on the link on top.

Please give any sights you have about this subject. If you think I should add or change anything please share in a comment! 

We just wholesaled a property with an agent. However, the property was a tornado damaged property and he called our bandit sign. the process was like any other wholesale deal. We just had to put a bigger earnest money and deal with the agent instead of the owners themselves. if you submit your offer to the agent they are required by law to show it to the owner. some of them will not allow you to assign it and require that you be the end buyer after seeing your prove of fund (which you can get for free if you have an LLC ) in this case you will have to use transactional funding to do double closing. just try and submit your offers or letter of intent. Good luck

We live in Richardson. we put signs in different cities in Dallas weekly. last month we put 50 sign a week and closed on 3 deals. We hand write our signs though. Good luck!

 A great Idea. Thanks!

Right I see what you are talking about. It's just that we never dealt with those types of situations. Would the owner be able to sell it even if the repairs value is less than the policy limit? Because this house doesn't look like it needs that much in repairs! my wife is a general contractor and she thought is would need around a 100K. 
Thanks again

Thanks for your input. Would you please explain why are they total losses? of course many investors won't be interested in them but we are assuming that some investors work with this types of homes. 

We got a lead for a storm damaged house in Dallas. It was hit by a tornado two months ago. The neighborhood is great and only few homes were hit but the rest look great across the street. The house is severely damaged and the roof is gone. Strangely the kitchen and downstairs bath are untouched. The ARV is min 250K and the seller is asking for 45k. The property right next to it is selling 60K for land and foundation only.

My question is, how would you wholesale severely storm damaged houses? is as any other wholesale process or is it any different? We estimated that the house need a 100k in repairs. does that sound like a deal? we might sign the contract on it tomorrow!

We have closed on deals before but never worked with such situation. Please advice us if you have any information or experience on this subject! 
Thank you