All Forum Posts by: Zapata Tate

I'm under contract for a duplex in Dallas, NC, and I'm a little nervous. They asked 419k, I'm under contract for 365k with a 3.5% seller concession and a 1.5% commission (I'm a new agent). Rental market says 1200 to 2k's, section 8 gives me very different prices from 900 to 1200. I'm looking for advice. How do I know this is a good deal? That I'm on the right path?

I was out D4D a few days ago and came upon FIBO sign with "court ordered sale" written at the bottom. The property is in a swanky neighborhood in a swanky town. The entire town has the aroma of money. There are two lots totaling about 0.8 acres. The empty lot value is 168k the other property has a 3/1 with 2100 sft. ProStream values the 3/1 at 465,870. Zillow says 517K. Tax value is 619K. Built in 1944, the place has not been updated since at least 1987. They are asking 530k for both with a 5% deposit. The closets and only comp that I could find  is listed for 499k and is about 95% upgraded. It needs interior paint, appliances and bathroom cabinets. The exterior is gorgeous. I want to wholesale this. I'd like some feedback from my BP family. Thank you.

@Luis Serrano is right. You must have a cash buyer. 

@Luis Serrano

You can also talk with your title company or real estate attorney. Sometimes agents can help... sometimes. And, of course, networking.

@Luis Serrano

Hi Luis. There are several people doing exactly what you're doing. You can use tech, like PropStream to find and make a list cash buyers then skip trace them. There is FB Marketplace and BP marketplace, too. I wish you the best.

@Amari Turman-roosa

I have several agent friends who have no idea what wholesaling is about, so the short answer... No and no.

Nasar El-Arabi the real estate "doru" was published on BP's YT page on 29 Feb 2020. "How to find motivated sellers..." He is currently working with Max Maxwell.

@Paul Logsdon

Thanks for this, Paul. It seems that some people have a negative view of wholesaling. (I'm new and have yet to close a deal, but hopefully putting my first one under contract Tuesday).

Congratulations on growing your business.

@Bronson Massas Copy that. Thanks again.

@Bronson Massas Thank you. They started working on the main place. All of the windows are removed, sheetrock removed from interior walls, it has been rewired. Part of the demo is done. My contractor said 20k for refurbishing, I think more. Their are manufacturing companies there and Freightliner just built a second plant. The BP calculator said about 350 cash flow. I don't want to try and force a deal, but this one looks legit.