All Forum Posts by: Troy W.

@Tarl Yarber Nice work...and I agree most Wholesalers are not good at it because mainly they have never flipped a property. It takes time  and education flip a property themselves to really understand the work from cradle to grave. Analyze repairs and get the best comps, as if they were going to flip the property.

Believe me I'm talking from experience.... 

Anyway enough about that... celebrate and move on to the next ...rinse and repeat!

@Markus OnibokunI agree with @Teresa F.... after I look at the property with my realtor ( the one that sales my homes after I purchase) and my contractor for the repair estimate. I call up or text my offer to the REO agent along with the price of repairs. They come back with n acceptance or counter, then we move to seal the deal.

If I can get it less than 53%-55% ARV I will flip it, and if not I wholsale it.

 That's very doable for what you're looking for I will go with that!.. keep in touch!

Learn...and most importantly don't be afraid to pull the trigger!. Getting out there whether you're wholesaling or flipping a house will provide you with more experience that just sitting back and reading books.Trust me....after a while you have to close the manual and step outside and really start doing it.

@Meg K. it's really based on your preference. For instance I use laminate for certain neighborhoods, and I use all wood floors for others. It really all depends on your rental your neighborhood and what type of house you're actually renting. So it's not an all size fits one, especially when you start having multiple rentals in different types of neighborhoods. 

I use a system for my flooring and types of things that I do to my rentals.  But for your topic of kitchen floors if it fetches over $2,000 I'm using the top floor and if it fetches under $1500 I'm using different type of flooring you see where I'm going with that?

Hope this helps and I hope you get your tenant soon!

Stay hungry and get more properties good luck

hmmm never thougth of like that before Troy. Interersting...very interesting

Nice....

@Fred Mittel when you working with agents on the MLS they hear "Cash offers" offers all the time, so the proff will be made as for your EMD. Its almost like going to an auction. Those with money are bidding and those that don't have it will watch the process.

I would suggest finding properties off the MLS, when just starting out and you will not have to worry about such large EMDs. The largest EMD I have given to the a seller ( rather my title co.) is 1k, and the smallest amount is $0.

Don't give up...and when you are thinking about it. Always remember why you wanted to get started!

hardwood! 

@Mike J. all of us that haved flipped our fair share of homes have had a blunder that makes put our tail between our legs at one point in time... lick your wounds and get back out there. And true test of anyone making money in REI will tell you... it's the cost of the business we love. Thanks for sharing...