All Forum Posts by: Thomas I.

Bryan Elkus Welcome Bryan! Let's talk about what your plans are. Would love to share what I've learned thus far and see if I can point you in a direction. Let's definitely meet up at the next REiA. Cheers buds.

@Phil G. I'm licensed. I passed the test and everything. :)

@Bryan L. Awesome Bryan. That's great to hear. What do you think about marketing an area that you are not particularly looking to wholesale/flip just for seller leads as an agent.

I am thinking about farming this affluent area strictly for seller leads to get decent priced listings as an agent.(at the very least be able to refer these to some agent friends for 30%)

The difference is that I am coming at them as an investor rather than an agent. I wonder if I can get more people to call when they see a "I want to buy your home" rather than a "I want to list your home" mailer or postcard.

Wonder if anyone has experience with this.

Hello BP,

Not sure if this should be in this forum or in Wholesaling..

So, I have been learning how to Wholesale properties to get my feet wet in the investing game.

One thing that intrigued me as an agent is receiving calls from so-called "unmotivated" sellers that don't really fit the "gotta sell now" wholesale criteria.

Even though these people aren't great for a wholesaler, they seem ripe for an agent.

Does anyone have experience with this? Are sellers turned off to listing their homes with you when you initially contacted them as an investor?

Do more referrals come out of these calls than actual listings? (I'd take both, TBH)

@Jeff Smith Hi Jeff. I think there may be a disconnect here. What I was asking about was the quiet costs a fix and flipper pays when flipping a house. I was curious, if when determining the MAO, these costs should be accounted for.

From what I can tell, shopping around great deals is huge to a wholesalers success, and I wanted to be clear where these costs come in for a flipper. @Bill Jacobsen did a great job of explaining what a fix and flipper is looking for and where they're coming from when determining whether a deal is viable or not.

It looks like these costs come out of the 30% discount wholesalers immediately cut from the ARV.

Cheers,

Thomas

Hey guys,

I did some digging on the topic and I'm sure it is somewhere in the archives, but I can't seem to find anything about "quiet costs" (taxes, insurance, cost of money etc) when determining max offer.

From what I understand the standard formula is:

ARV x .7 - repair costs - assignment fee = MAO

I don't see anything about quiet costs in that formula. Are those expenses being paid by the buyer (fix and flipper) out of the 30% discount? Is it not our job as wholesalers to worry about it?

I want to be able to bring solid deals every time I shop a contract around, and understanding what buyers are thinking, and exactly what's happening with all the money will help with that process.

Cheers,

Thomas

@Jessika Perkins Let us know how this ends up!

Thanks and GLGL!

@John Knappmann Also, how often are the meetings?

@John Knappmann thanks for the links. Can't make it this Friday unfortunately, but I'll be at the next one. How do I get on the FB list to be invited next time so I don't miss it?

Thanks

@Robert M. How did this end up?