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All Forum Posts by: Taylor Wesley Davis

Taylor Wesley Davis has started 2 posts and replied 3 times.

Post: Helping Distressed Homeowners while Making a Profit

Taylor Wesley DavisPosted
  • New to Real Estate
  • Pickens, SC
  • Posts 3
  • Votes 0

I know this title may seem cold hearted or cruel, but I’m looking for honest advise here. In my area there are a lot of, what I would consider, distressed homeowners. They are either in pre-foreclosure, foreclosure, or have let their homes fall into disrepair due to lower income jobs. What is the best way to use this situation to both help the distressed homeowners, and my own family, by offering to buy their home? Do you offer fair market value based on comps knowing the profit margin will be slim, or do you make them an offer that will still put money in their hands, but will give a better return on investment from my end? I want a good reputation in my area, but I also want to make sure my family is taken care of. Any advise is appreciated!

Post: To Wholesale or Not to Wholesale

Taylor Wesley DavisPosted
  • New to Real Estate
  • Pickens, SC
  • Posts 3
  • Votes 0

@Brenden Mitchum thank you for your advise! It’s good to be able to base my expectations in reality. No matter how much I ‘dream’ of being a successful wholesaler in my local market, if the facts don’t line up, there’s no amount of hard work that can change the current market.

What are your thoughts about using the local tax assessor’s website to find people who are behind on their taxes and making them a cash offer before they are filled for foreclosure? Some may see this as targeting people in a financially low position, but if I am helping them sell a property that they cannot afford the taxes on, and putting cash in their hand, I see that as a win win. I’ve also thought about learning how to make a short sale due to the amount of properties in foreclosure or pre-foreclosure in my area. What are your thoughts? I was looking at the tax map of my area last night, which provoked the question. Also, do you know much about REOs? Are they advantageous to go after? This may be it’s own discussion thread, and if so, let me know please! Thanks for all your help!

Post: To Wholesale or Not to Wholesale

Taylor Wesley DavisPosted
  • New to Real Estate
  • Pickens, SC
  • Posts 3
  • Votes 0

Hello BP friends and professionals! I am literally a few days into the idea of seriously considering a career in real estate, specifically whole selling. A little about me first, I’m 25, I have a wife and 2 small children, and I currently work for a high end pool servicing company. Between child costs, debt, and just the cost of living, I can barely put food on the table. I HAVE to find a way to provide for my family, and real estate seems to be where the hard workers make big money. All that being said, I would love to get some feedback on a few things. Firstly, how do you overcome the stigma that comes with whole selling in a small town where most everyone knows you or knows a family member? And secondly, I would love an outside perspective on my long term plan as of right now (this will change drastically I’m sure). My plan as of right now is to start off with whole selling homes until I have the capital to buy a rental property. Once I have that property I will continue to whole sell until I can amass several rentals (between 5 and 10), at which point I would hope to have enough capital to consider becoming an investor and fund other projects with the hope of seeing a big return on my investments. This is all I have for the moment, but as I have said, I’m sure this will change as I learn more about this vast industry and grow as a person. Any thoughts or tips would be greatly appreciated! Thank you all for your time!