All Forum Posts by: Wayne Grogan

I take it you guys aren't big fans of the "virtual wholesaling" thing. How does one get started doing this, if the area they're in doesn't have much to offer? I realize this would be a risky venture. Just wanted to run up the flagpole and see who saluted. Thanks for your advice.

Found a 4/2 duplex , 1466 sqft for $12k and around $10k (seller says $6k) rehab needed. Comps are between $58 and $67k. Problems? This would be my first. Is not local to me. The seller is wholesaler as well.
I've only seen one exterior photo of the place. Brick exterior and yard overgrown, but looks pretty decent. Seller said he would send me more photos, but said my email wouldn't accept them. (?)
Is this something I should get involved in?
Could I turn a profit on this as a "virtual wholesale"?

Thanks alot guys. Sounds like all-in-one will be my best bet. Maybe efax later when business picks up.

When using efax. If you recieve a fax from someone that needs your signature how do you handle that? You would still need a regular fax, I'm guessing. Like the idea of being able to recieve a fax at anytime. If I'm in the "office" or on the road.

Should I get an efax account. Or just a regular fax machine? Or both? Could you reccomend an online fax site?

Thanks Jason. Gives me a little more idea and what to be looking for now.

That's what I get for sitting on the fence. I would have had to drive 3 and half hours from NE Alabama, but wow. For that much ROI, I would have road a bicycle. LOL.

For Jason C.
As a person who is still undecided on what field, wholesale or rehab/retail, what would be a good assignment fee on the mentioned property?

Thanks Jason. By the way, checked out your DealClosingChampion site. Considering it.

Hello again BP world. Still reading and researching. Yet to pull the string on any deals. I originally thought that from a financial standpoint that wholesaling would be best for me, but from a social skills and understanding of all the contracts and hunting down a good deal perspective I'm not sure I'm cut out to go that route. I consider myself to be a better handyman than talker. I want say that I'm not intelligent enough to eventually learn all the legal in an outs. Just saying that I may be better off dealing with a wholesaler than a stressed out seller. Also, on a side note, I'm in a smaller community. No REI clubs that I have found. I get my information from here or free to low cost videos and books. I want to learn as much as I can, but feel that I'm going in a circle chasing my tail. I'm leaning more toward the buying from a wholesaler and rehabbing the property field. If that be the case? Is it possible to be succesful with limited savings, and only fair credit rating? My plan would be to get hard money loans for the property and use Lowe's account and credit cards to fund the repair cost. Wife and I both work and make a good enough wage to pay the holding cost for 2 to 3 months. If the holding cost aren't more than $400 to $600 per month that is. Any advice on this subject.

Still Sitting on the Fence