All Forum Posts by: Terrance Hall

Investment Info:

Single-family residence wholesale investment.

Purchase price: $150,000
Sale price: $173,825

Very first deal

How did you find this deal and how did you negotiate it?

Prospecting

How did you finance this deal?

I brought in investors

How did you add value to the deal?

I leveraged my network and was able to bring them in on the deal in order to make it work.

What was the outcome?

Got an offer in 3 days and eventually closed!

Lessons learned? Challenges?

Real estate sale with probate issues can be very challenging. My client was also working with another agent to purchase a home and did not inform me. I should have madee sure she wasn't working with anyone else.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Dustin Olverson

Thank you for the illuminating answers. I'll take all this into consideration and consult an attorney.

Hello BP community,
I am trying to set up a (3-4) small investor group in order to pool their funds and tackle larger fix and flips. I'm wondering if just setting up a simple LLC with all of them would be sufficient to start out. Or would I need something like an S-corp?
Thanks in advance.

Hello BP community,

I live in the Richmond area. I got my real estate license a few months ago with an eye on working with investors. Ideally, I'm looking for a full-time work with a real estate team that works with a good deal of investors. Does anyone know of any such teams in the Richmond area?  I'd be extremely grateful.

@Kathy Calderini

Thanks @Kathy Calderini. I will do just that.

Hello BP community. Does anyone know a site that shows new home building permits, like how many were issued for a given set of time?
Thanks in advance.

A wholesaler once described to me that the way he does it can best be summed up as "Ahead on work, behind on pay".  He divided the rehab into milestones (painting, plumbing ) and as each milestone was completed he would pay them a portion of what they were owed on the project, further incentivising them to complete the work. And he wouldn't pay them that portion until each phase was done completely, thereby incentivizing them to finish each phase promptly. Then when they finish, they get the last payment.  Hope that helps.

@Brandon Turner Can you two do a podcast/webinar episode on mortgage notes?

Congratulations! This is motivating.

@Marisa Rowe I would own a HGTV dream house in Lake Tahoe California in the mountains. I would have have passive income that will cover monthly expenses, and enough for my wife and I to travel a couple times a year and afford to bring our close friends and family from time to time.