All Forum Posts by: Christopher Gibbins

 Being a Texas attorney commenting on a lease Option thread do you have any insight on LO's in Texas? I'm in Fort Worth. 

Does anyone have a recommendation for a good inexpensive mobile home mover?

Are you just starting out and finding it hard to find deals?

That seems to be the major thing most newer investors have a hard time with. You'll drive around town all day and night sometimes, talk to many real estate agents, send out thousands of letters or put out bandit signs and hope the city doesn't send you a pretty ticket (and no this ticket doesn't get you into the Dallas Cowboys game). You do all of this and don't come up with deals you want. So what do you do?

Sorry for the rant here I just wanted to see what people are doing to find deals in your market. What works and what is just a big waste of time for you?

I wanted to make a quick post here to introduce myself. I've been a member of Bigger Pockets for a few years now but have never really done anything with the community and I have to say SHAME ON ME because this is a fantastic bunch of people with a major common goal in mind and I cannot wait to meet you all.

I am located here in Fort Worth TX or better known as the DFW area. I work for a Wholesale real estate company and we buy houses in WHERE-IS AS-IS condition and we sell them to investors in the same condition. The investors will then go out and do all the remodeling and updates to the house then put it back on the market for sale or rent, whichever they are looking to do.

We come across 40-50 off market properties on average every month where we do all the research on the properties to determine if they will be a good deal or not and then present the deal to you will all the information that you need.

I would like to connect and meet with all BP members here on the DFW area and get a better idea of what you are looking for and see how we can work together.

Oh and I forgot to mention I can also work with other wholesalers. Why?? Because I am not greedy and feel that as long as we can all work together and make a deal work then why not. So if your a wholesaler then don't hesitate to connect with me because I might be able to buy some deals off of you.

Welcome to the party. I am actually from Salt Lake and moved to Fort Worth TX and am now an agent focusing in Wholesale. I still do some work out in Salt Lake when I can find a good deal. Give me a call sometime and we can talk about some stuff to help you out.

682-710-2240

Then really I would need to know where you got your ARV and repair costs? Is the ARV based on sold comps? Current listings? Zillow? Also what are the rents in that area? Its possible to pay a little more if you'll get good cash flow from it. For my MAO I used the very basic wholesale calc of 65% minus repairs and wholesale fee and some grace so the MAO could certainly be higher but more info would be needed.

Its hard to say with just looking at the numbers only. Are there any other expenses that we are not seeing? Are the taxes current? Is there a Realtor involved? 

Just on a base calc I am coming in at $40k MAO and that's including a additional $10k grace for just in case and estimating $5k wholesale fee. Please correctly me if I am no where near close I would love to learn :)

All an LLC with do is add a layer of protection like @Neil Aggarwal said you can use use your name like many do but you have to ask yourself, if the brown stuff hits the fan do you want the IRA account or anyone else to come after you personally or an LLC that has protection on its side.

Most definitely get involved with your local REIAs like @Paul Timmins said but here is something where you can get a leg up. You're an Internet marketer and that is valuable. Go to your local REIA and listen to and talk to the people there. See where they are lacking in their business and then offer your help in exchange for teeing able to Followup them and learn the real estates business first hand. Misty investors just know how to invest and not so much about Internet marketing.

Welcome to BP this is an amazing resource and group of people. Good luck

That's a good way to handle it. Rule of thumb is you don't want to spend a of time convincing someone to be motivated to sell they will realize that over time. Set them up for a followup in 30 days or so. Time will pass and their motivation will increase and the price will drop naturally. If you stay on top of them then they will know who to call and who to trust.