All Forum Posts by: Tatiana C.

@Damarius Gilbert

Thank you so much for your reply and tips. I'll certainly keep them in mind.

I'm sending you an invite to connect.

Dear fellow investors,

I'm a newbie in need of help. I've started my direct mail campaign recently with intentions of doing flips. Someone came across my advertising and now I have a lead in an area I do not intend to invest in. I'm sure there are other investors in my network who invest in such areas so I believe I will need to wholesale this, if it turns to be a deal. Problem is that I don't know how to wholesale! I'm reaching out to you experienced wholesalers or investors who need to wholesale some of your deals, looking to hear and learn how you guys do it. Questions:

1. For flips, my plan for my leads is to get comps to confirm the ARV and get a contractor validate the repairs cost to figure if my lead is a deal. Should I follow the same process for wholesaling: get it under contract, get comps, get a contractor to calculate repair costs?
2. Can I usually get back the money invested in fees (contractor's opinion + closing costs when choosing to double close) when charging my wholesaling fee? are these all the expenses I should consider? are they usually costly?
3. I've heard that the wholesaling fee is usually low (hence my earlier question). How much do you guys usually charge? is there a flat fee you normally work with, or is it a percentage on the deal?
4. How do you guys charge the wholesaling fee, through non-refundable earnest money? should this earnest money in this case be solely my fee or should it include other considerations?
5. In getting comps for a wholesale deal, how can I have a realtor get me comps when I cannot compensate him/her as I would in doing flips (giving them a house to sell in the end)? any other ways to get comps for a wholesaling deal when you are not a realtor?

Appreciate your help!

Thanks in advance! :)

Reed Goossens Reed has great material and posts in BP in this subject. He also has done syndication to buy an apartment complex in Houston... maybe more by now. He has a great podcast and offers a call with him to discuss thoughts! He gave me great advice and was very nice to talk to. Try to reach out to him. He is very knowledgeable and active.

All I've heard so far that makes great sense comes from Lifestyles unlimited. I plan on investing with them in the future when I have enough savings. This does not appear to be a good path for low or no money down. Good luck!

Michael Lee Great advice and tips! Ill certainly make good use of it! Thank you so much! I wish you all the best in your investments!

Linda Weygant Thank you so much for your help! Really really helpful! All the best in your investments!

@James Masotti

James, thank you so much. Your advice is very detailed and extremely helpful to me. I really appreciate you taking the time.

All the best in your investments!

S@Stanley Parsley

Thank you so much for your advice. I have not got a property yet...but I'm faithful it will happen soon! :) I'll certainly keep your advice in mind.

Thank you so much!

Hello my fellow investors,

I'd like to ask your opinion regarding bank accounts. At which stage do you guys think I should open a business bank account? 

My plan is to flip houses and wholesale deals. I am in the earlier stages of investing, but I've already been spending money with direct mail, LLC fees, website, training...all of these I used my personal credit card for payment.

Appreciate your help and opinions.

Thank you so much.

Dear fellow investors,

I'm a newbie in need of help. I've started my direct mail campaign recently with intentions of doing flips. Someone came across my advertising and now I have a lead in an area I do not intend to invest in. I'm sure there are other investors in my network who invest in such areas so I believe I will need to wholesale this, if it turns to be a deal. Problem is that I don't know how to wholesale! I'm reaching out to you experienced wholesalers or investors who need to wholesale some of your deals, looking to hear and learn how you guys do it. Questions:

1. For flips, my plan for my leads is to get comps to confirm the ARV and get a contractor validate the repairs cost to figure if my lead is a deal. Should I follow the same process for wholesaling: get it under contract, get comps, get a contractor to calculate repair costs?
2. Can I usually get back the money invested in fees (contractor's opinion + closing costs when choosing to double close) when charging my wholesaling fee? are these all the expenses I should consider? are they usually costly?
3. I've heard that the wholesaling fee is usually low (hence my earlier question). How much do you guys usually charge? is there a flat fee you normally work with, or is it a percentage on the deal?
4. How do you guys charge the wholesaling fee, through non-refundable earnest money? should this earnest money in this case be solely my fee or should it include other considerations?
5. In getting comps for a wholesale deal, how can I have a realtor get me comps when I cannot compensate him/her as I would in doing flips (giving them a house to sell in the end)? any other ways to get comps for a wholesaling deal when you are not a realtor?

Appreciate your help!

Thanks in advance! :)