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All Forum Posts by: Joe Butcher

Joe Butcher has started 27 posts and replied 300 times.

Post: Cheap foreclosed homes: what am I missing?

Joe ButcherPosted
  • Dallas, TX
  • Posts 311
  • Votes 93

Someone correct me if I'm wrong but aren't some of the foreclosure listings auctions? 

They could be starting at 30K.

Post: Need Some Advice in DFW

Joe ButcherPosted
  • Dallas, TX
  • Posts 311
  • Votes 93

Also, here is a rundown of some of the meetups in DFW, but I'm pretty sure there are others.

http://beta.biggerpockets.com/forums/48/topics/956...

Post: Need Some Advice in DFW

Joe ButcherPosted
  • Dallas, TX
  • Posts 311
  • Votes 93

Hi @Pat Healey you should go to NTAREI meetings. Check their website. Not pitchy at all and I've made some great connections there.

Email or give me a shout if you like.

Originally posted by @Brock Y.:

 How do I go about letting contractors know this is a rehab/flip?

You don't. Because it isn't. Just start going to your local REIA groups where you can meet contractors or get GC contacts from other investors. This would be a good opportunity to build a relationship with a GC whom you may wind up using in the future. 

How are you marketing the property?  

1. How long until you closed on your first property. 

8 months till closing but the lead came in about two months into my mail campaign....seller was a slow mover!

2. Were you working full time or part time on REI when you acquired your property?

Part time

3. My first property came from 

yellow letters

4. My first property was located about 

6 miles from my house

5. I have been involved in REI for 10 months and I now have bought one rental property and wholesaled another

6. I currently work at REI part time.

Post: What Are the MAIN PROBLEMS with Wholesalers?

Joe ButcherPosted
  • Dallas, TX
  • Posts 311
  • Votes 93

This topic has been beaten to death about a million times. The answer is....WHO CARES? 

If you buy a property from anyone you are going to do due diligence, aren't you? 

That means: run your own comps, determine your own rehab numbers, etc.

If the numbers work, great, you got a deal. If not, then move on. 

Post: Walk thru Rehab estimated cost sheet

Joe ButcherPosted
  • Dallas, TX
  • Posts 311
  • Votes 93

Here's one http://www.biggerpockets.com/files

But there's others as well here http://www.biggerpockets.com/files

Post: What is wrong with some wholesalers?

Joe ButcherPosted
  • Dallas, TX
  • Posts 311
  • Votes 93

@Wayne Brooks thank you....that was the info I was looking for. 

Post: What is wrong with some wholesalers?

Joe ButcherPosted
  • Dallas, TX
  • Posts 311
  • Votes 93

@Bryce Y. Haha, no prob. 

I know that the price on Zillow would not be the price it was under contract for. 

I am assuming the house was for sale, listed on MLS via a Realtor and the wholesaler negotiated a price, added his fee to it, and then sent it out to his buyers list, is that correct?