All Forum Posts by: Curtis Daniels

@Larry Turowski - I bet there's a way to find the median square foot that way just like natural comps. 

Basically, in my town, there's software that I buy to pull up some of the same criteria that the MLS uses. It's very handy.

I have a great way of bringing up comparables, but when I do, I often see that the other houses with the same bed and bath don't have the same square footage. For example 

3744 Wabada dr. Kirkwood Missouri: 

Has  2 Bed, 2 Bath and 675 Square footage 

3 other houses with the same number of beds and baths have twice that size: 1240, 1135, 965 sqft. 

What do I do when I don't have good compables on the square footage? 

Louis Whidby - "No Motivated Sellers or a more experienced wholesaler or investor would seal the deal."

So basically what you're saying is, you aren't getting too many leads, and even though you are getting SOME leads, all of the seasoned investors are eating your lioness catch. If investors or wholesalers are snatching up deals that should've been yours, then apparently you're having trouble analyzing the equity in the house in order to structure your deal.

You need to network with investors in the area who making deals, signing contracts, and making moves. You need some kind of mentorship.

$250 worth of 500 yellow letters with red or blue ink done the right way should get you the response rate in which you should be able to close at least 1 deal.

There's always a learning curve. But if you're not consistent, you are going to fall off.

@Louise Whidby

Yes. You can do an Option to Purchase with the Seller, and then Purchase and Sales agreement with the buyer.

@Wayne Brooks - You can use a purchase and sale agreement with the buyer. You tell the title company that you are assigning the contract.

That was somewhat insightful. Thank you.

My real estate wholesaling coach told me that I use the same kind of contract for the buyer as I use with the seller. The only difference is that you as the seller will have the buyers Total Purchase Price higher than what the seller receives which would make it your fee money. The wholesaler basically obtains the difference. Is this all true or has someone ever dealt with a different contract for the buyer.

This is a regular assignment. Not back to back closing.

I'm in the process of having the sellers sign the contract but there are 4 of them because it is a probate. Don't they all sign the contract or can some of them just put their initials.

Also, there's a place within the contract where it ask's for each of their residency/ Address's. I'm not sure if there was enough space for them to sign.

@Brett Russell - Maybe, just maybe your real estate market is different than mine, because there are plenty of investors that buy at 50% ROI. I'll give you an example of what investors wanted in a property I was selling in the Jennings area of the Metropolitan area of St. Louis.

People wanted 4k-5k for a 3 bed 1.5 bath. It needed at least 12K in repairs. It would rent out for 750 at best. That's right at 34%. That's just one example of a house sold at that rate and hardly considered a deal because of all the repairs needed to be done to it. Landlords are looking for steals in the area I'm from I'm guessing.

Another instance a guy called me up and asked me what I would pay for his nearly pristine 4 bed room 2000 sqft house he was selling on the MLS for $104,000. I told my coach what GENERAL area it was located in and he told me to ask the seller 15,000k for it.

Now no matter whether he knows the market in that area or not, that house a landlord would make an ROI of 45% - 60%. This is very frustrating.

@Derek LeBlanc- That is not the ROI formula that i displayed above. A 20% ROI would have someone recouping all their investment within 5 years. Your mental math isn't as useless as you think.