All Forum Posts by: Tod R.

We are "rookies" when it comes to Wholesaling, but have done almost 50 in-house rehabs. I have a couple Investors stating they want properties that are "60% of ARV minus Rehab Costs". We are extremely inclusive of expenses within our pro-forma, so our Rehab Estimate includes all Carrying Costs as well. I want to be sure we are being compared "apples to apples" against our competitors deals, so I thought I would ask if this is a standard practice out there.

Am I missing something?

Justin, I like the format. As to your question about apples to apples comparison to your competitors, maybe do a subtotal of ARV-ERC and show a purchase price %. Then deduct your other costs to get to the bottom line. This would allow investors to see the numbers as other wholesalers would show, yet makes it obvious you've included all costs.

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Hey Nick Abbate, check out John Fedros blog entries. They are full of good info and you should get some good ideas from them.

Good luck!

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Originally posted by Brandon Nelson:

Hey Brian, I've been a full time home inspector (700 inspections from 2004 through 07) and it was an invaluable boost to becoming a successful real estate agent. But our market here is absolutely flooded with inspectors now, and when I'm asked by someone if they should get into it, my reply is that if you've got the chops to break into the inspection business, then you've got the chops to break into sales just as easily, and there's WAY easier/more money in sales. If your market is lean on inspectors that may be different, but check it out first.

Hey Brandon Nelson, why do think these two are similar? I would think the RE agent has to be much more outgoing/social/marketing oriented? I know any business you get in to you have to market yourself, but the volume of interaction with clients as an agent seems like it would be much greater.

I'll tell you a very easy-to-get-into niche that I've seen a few people do around here and can easily make as much as an inspector but without getting dirty: Mobile notary signer. Title/escrow companies are lean on staff and swamped with re-fis AND purchases in our market, so they call on mobile notaries to meet clients, point and say "sign here" on closing docs and take home $150-$400 depending on number of docs/refis/closings.

Might be worth looking into.

For what it's worth, I refinanced one of my investment properties through a mortgage co out of Houston. They used a title co. based in Houston and sent a mobile notary to my office for me to sign. It made it so convenient to not have to go to a title company.

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Welcome to BP Brandon Nelson! I'm looking forward to listening to your podcasts. I'll spend a lot of time at my day job on the pc so I will often try to find RE podcasts to listen to while banging away on the keyboards!

I agree with you on cap rates. They are incredibly low in the Tx major markets for A/B multifamilies.

I think you'll find a high quality turn-key operator or two here on BP that could prove to be beneficial to you.

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Welcome to BP Jason Kemp, what market area do you focus on?

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Marc Faulkner, I second Jon K.'s comment. I enjoy reading your posts.

Joshua Dorkin, Yet more evidence for a such a special site that's unique in the REI industry.

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Are you buying at $62.5 with those terms or selling?

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Originally posted by Kevin Hurney:

I have seen ads for Legal Zoom, are they reliable?

I've used MyCorporation with success. It's been around for a long time and seemed to be reasonably priced. I've never used LegalZoom but I think its probably very similar.

Tod

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All Forum Posts by: Tod R.

Tod R. has started 32 posts and replied 805 times.

Post: what are some Part time RE gigs?

Post: HELP on How to Market My Mobile Home

Post: Percentage of ARV minus Rehab Costs... Am I missing something?

Post: HELP on How to Market My Mobile Home

Post: what are some Part time RE gigs?

Post: Investing from across the country?

Post: New member from Austin, TX

Post: More Traffic from BiggerPockets than Twitter and Facebook Combined = Success

Post: Would you do this deal?

Post: Business structure question