All Forum Posts by: Troy Williams

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@Van Blackman I completely agree on building relationships. I thought maybe a higher offer to the seller would be the best option. I would like get the seller at least what he's asking for. However, I didn't think much on negotiations. I'll take that in consideration and keep the seller at 100k. You're right, if I sell lower it shouldn't be an issue attracting buyers. I'll be sure to go over the rental figures also. Even if I make out with less profit, I'm ok with that. I just want to get it under and closed. Thank you for your input, I really appreciate it. I'll be meeting with him shortly. Hopefully all goes well.

@ScottSankhi Thanks for your input. I thought of that, however I thought I'd be low balling the seller. I'm ok with less profit, as long as everyone is satisfied. I'm more so focused on reputation and building relationships rather than profit.

Hello BP, I would like to start by saying I appreciate this community and everything they have to offer. Thank you! For the past several months I've gained a lot of insight on different strategies. found that wholesaling fits my criteria, so I've been tunneling in on that to gain capital. Through biggerpockets podcasts, books, and endless research, I've been working on a system to generate leads and acquire deals. About a month ago I came across someone who is a friend of the family looking to sell their home. Since it's an off market deal in a HOT area, with comps at almost triple the asking price, which I thought made sense. I've been exercising the due diligence process and also used the biggerpockets wholesale calculator, which is VERY helpful HERE is my Analysis... SELLERS ASKING PRICE - $100k MAO- $109k END BUYER'S PRICE- $117k + 4k (closing cost) WHOLESALE FEE- $8k ARV- $210k FLIPPING CASH BUYER PROFIT- $35k REHAB BUDGET OF- $35k QUESTION- Am I leaving out anything that I need to know? I would GREATLY appreciate any advice I can get! Thanks !

Yes, a contract of purchase and sale would be your best option. There are downloadable PDF files on the website. Good luck

Mike Cumbie thank you for your advice. Buying and reselling would've been my first option, however I don't have what I would need to invest so I was looking for an alternative strategy

Kurt McDowell thank you for your response. I only mentioned a finders fee because I was interested in gaining with little capital. I figured if I know the owner and we sign an agreement to assign contract for sale and purchase then I could take the next step on finding a buyer. In which I already have 2 potential buyers

Good morning, I'm new to BP and investing as well. I've been networking and recently came across someone who recently decided they want to sell their home(FSBO). It's an off market deal so I would like to take advantage of the opportunity. With comps in the area for more than double the asking price, I see there's an opportunity to make some cash that I can use to find the next deal. How can I get a piece of the pie? Would this be similar to a finders fee? Is it illegal? Should I work with a realtor to broker the deal? Are there any RE agents who specializes in the West Philadelphia market

Congrats and thanks for posting! Inspiring to a newbie like myself looking for my first deal

Yes Philly is a great start if you're looking for something worthwhile. A few colleges with development land nearby so there's plenty of opportunity