All Forum Posts by: Timothy Holden

Quote from @Erik Estrada:

Hey Tim, 

As a mortgage broker I have never heard of them before. What terms are they offering you?

7.75 % for refi out of hard money into 30
year rental loan.  179k total loan including 25k cash out.  2 points.  Weird thing is they want $2000 down when is sign and submit the term sheet.  I haven’t done that before .

I am talking to Builder Banc about a potential investment property refi and I am trying to find someone who has used them before.  Has anyone had experience with them?

Quote from @Jason Thompson:

@Timothy Holden I have been wholesaling for a while now, no problem putting contracts together at 70%arv I am struggling with dispo, I have used Keyglee, Newwester and other local companies with little luck my cancellation rate is so high. Who have you used for dispo and in what markets?

 Hey Jason,

We are just closing in on our first wholesale contracts so i haven't dispositioned any yet. Question on the 70%. Are you getting them under contract at 70% or offering them to disposition at 70% of ARV?

Thanks!

Quote from @Jerryll Noorden:

Any wholesaler is as good as their ability to generate motivated seller leads.

I am ABSOLUTELY not impressed by any wholesaler out there. Every SINGLE wholesaler I come across simply has no clue what marketing for motivated sellers means.

Anyone that tells you to drive for dollars, cold calling, or bandit signs etc. etc. simply shouldn't be teaching anyone how to wholesale.

Just my 2 cents on the topic.

 So what do you think makes a good wholesaler?  Legitimately interested in your feedback

Hey folks!

We are closing in on our first wholesale contracts and building our cash buyers list.  The question for the wholesalers here is do you tend to partner with one of the large companies (Keyglee, New Western, Homevesters) exclusively or do you market a property to all of them?  What is customary in this industry?

Thanks for your insights!

Tim

Quote from @Alex Deacon:

@Timothy Holden please reach out of you do any business near the Pittsburgh PA market. 

 Thanks Alex!  I will reach out.  WE have had a few in that area.

Quote from @Brittany Minocchi:

Hey Timothy! Welcome to the forums. 

 Thanks Brittany!

Hello BPfolks!  I am a multi year member that has used the tools on this site frequently but haven't interacted much.  I am changing that and getting more involved on the forums.  We are investors that own 2 properties in Ohio and 2 properties in Texas (total of 10 doors) and are looking at doing our first wholesaling in Pennsylvania (Scranton Area and Chester County).  Looking forward to collaborating and helping out the community!

Hey folks!

We are working on our business plan for growth this year and one area I haven’t been able to find any info on is how people are reinvesting their profits.  We have just closed on our first property that we will flip and I want to have a very clear plan of what to do with profits before they show up.  The intent is to take away any impulse use of the money.  Not counting chicks before they hatch but having a plan if they hatch.  So I landed on splitting the after tax money as follows: 10% into marketing / lead generation, 50% into growing the liquid investment fund, 15% into debt reduction, 25% into personal disbursements.  Thoughts?

We had planned on just adding one or two properties but have decided to go all in and aim for 8 flips, 20 Wholesales, and 20 door adds by end of year.  I know it’s crazy but it has awakened this drive to improve my systems, relationships, analysis, and overall business.