All Forum Posts by: Tim Wilkinson

@Kerry BairdThank you! I have just begun marketing pre-foreclosures and even have some bandit ads on CL as well as some that say "Short Sale is not your only option! (This one is for the hopeful "Subject To" or "owner-financing deals"). 

I haven't been doing it long and I've only wholesaled two properties, but I guess I am just eager to do the lucrative condo conversions and stuff that require significant financial resources up front. Maybe a little too eager? time will tell. I bring a ton of experience to the table and was hopeful that there are those with money, but not the wherewithal, to do flips to partner with me. Time will tel. 

BTW, I grew up in Sebastian, right down the road from you. I would have way more luck in that market, but my home is now New England and I love it!

Hello Community,

I am on the North Shore of Massachusetts in a great market. I am very familiar with the hot spots, the best places to find buy/ holds, condo conversions, and SFR.

I wholesale deals, but I am also an experienced rehabber with references. 

I have managed very lucrative condo conversions in Greater Boston. 

I have spent 25 years in Construction. More than half of that has been as a General Contractor, Construction Supervisor, and/or Superintendent for large commercial and government jobs. 

I have studied the markets and can do very accurate CMAs, and know a value when I find it.

I do have a couple committed money partners, but they always have a deal going on, and timing doesn't always work for us. I need more partners! I'd be happy to introduce you to the ones I have. 

What I am looking for:

Real Estate Investors looking for a long-term partnership (deal-by-deal, not a formal partnership otherwise).

If you have the money to invest, but not the experience or confidence to find the deals, negotiate them, and manage the rehabs, I would like to talk to you. 

Someone who is looking to earn 20%+ annual returns on their investments. The truth is, you can earn much more than that as the business builds and multiple flips can occur each year. 

Please contact me with your region of interest, what you would like out of a partner, and we can sit down and have lunch and discuss what I bring to the partnership and how we can best serve each others goals. 

Let's make some money together and invest in each other's futures and legacies. 

I look forward to hearing from you. 

In fact, @Chance Housos, I want to view a 3 family in somerville, MA today. Condo conversion in this area are exploding with average DOM under 10 days. 

It is off-markewt, and because it's such a hot spot, the seller will not show me the property without not only my "confdentiality and exclusive rights to sell " signed with this broker, but also, the same document must be signed by the cash buyer I will be partnering with.

Therefore, I cannot even LOOK at the good ones without proof of funds and confidentiality agreement to my partner (who is unknown).

Very frustrating to say the least. 

I've had no luck with that. Properties are expensive here and the HML want me to have 20% skin in the game. Which means if I don't have $80-100k available, I'm out of the game.

I have not attempted land contracts or owner financing or anything creative, though. 

Definitely attend the Black Diamond group that meets in Worcestor and Waltham on alternating months. Great people, great networking, and it's free. Meet people, ask questions, and use their phone numbers. You'll find that most will freely give advice that so many are in a rush to spend thousands of dollars for from so-called gurus. 

Congrats on your decision and good luck!

Hello all,

I am hoping to hear from someone who has achieved success in wholesaling and/or flipping without a lot of cash and without private money from family/friends available strictly. 

The reason for this is that unless someone has actually done it, they seem to look at things in a completely different way and give completely different advice. 

It seems 95% of every successful person I know well (and there are many) all say that you should only get in real estate when you have capital to get a first buy and hold, and use the success from that property to leverage your next purchase, blah blah blah....

I was laid off at 42 years old and I have all the skills and imagination, and wherewithal to make a lot of money fixing and flipping and even wholesaling. I am doing very selective marketing to absentee landlords and preforeclosures locally. My burden is that I find really good flip opportunities, but in order to purchase and rehab these, I need a 100% money partner. The couple private money partners I am very friendly with, do not always have the cash available when the opportunities come up. 

Is my problem that I don't have the right partners or is it that I don't have nearly enough partners? I was told early on that if I find the deals, I will find the money. 

I am hoping for very specific advice around marketing money partners to finance my rehab projects. I will net an investor a 20%+ annual return if I can secure the partnerships. 

I'm all ears. Thanks for listening, and please....if you didn't start with almost no money, you probably had money to do joint-ventures a little differently than I am asking about. 

I am in Boston (North Shore) Asking someone for $70K for a flip in FL is maybe a little more doable than asking for $800,000 for a 3FR condo conversion in Somerville with a $300,000 return. 

Thank you all for reading.

Hello,

I am a wholesaler in Groveland, MA (Interior North Shore). I am hoping to connect with other wholesalers who work on the north shore and merrimac valley. 

I currently have an active, cash buyer (owner-occupant, not investor) that is looking for a property between Stoneham and Lowell, but not in Lowell :-)

If you are a wholesaler or have the name of one who might be able to give me a lead, I would appreciate it!

Hello all,

I have a client looking to build or rehab a smaller SFR or 2 family in the area of Wilmington, Tewksbury, Billerica.

Please contact me if you have a home or land available below market value in need of work. 

Thank you all.

@Martin 

@Martin Mclaughlin is exactly right. I know it seems counter-intuitive, but the thing you'd more likely be able to do is throw in your money with someone else's money and possibly even a HML to perform a flip. Sometimes a small 2 BR ranch in MA can still be in the 300s or 400s depending on location. These can be great properties to rehab, as the size is managable. It would be a great experience and you may just find that you have an extra $20,000 or so to play with afterwards.

Do it twice, three times, whatever it takes, but do something. In the mean time, hit the REIAs, get to know some people and see what people are doing. I learned after six months or more of being in business that I had the wrong focus for me and my lifestyle, finances, and wherewithal. You, too, will find your place. 

Best of luck, brother. I'm on the North Shore, as well. Feel free to reach out. 

Thanks, @Hattie Dizmond. I thought that might be the case. I feel like some of these people have just become resigned to the fact that they will eventually be foreclosed and not interested in short sale method. 

My understanding is under HAFA rules, they can get $3,000 moving costs. That means nothing in MA, where that wouldn't even cover moving costs. There is no reason these folks would consider a short sale unfortunately.