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28 June 2024 | 6 replies
Now, I'm not saying this is smart by any means, but since the market has shifted to a wholesaler's market then it would be in your best interest to either increase your offer amount so you lock down more deals or significantly increase assignment fee for higher spreads.
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28 June 2024 | 17 replies
I come up with the idea of documenting my actions here, one is to hold myself accountable, and two I want to see where I'll go from here (a lot of people now days do that on social media, like instagram, youtube...etc.
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1 July 2024 | 27 replies
Lots of good advice above. 98 percent of wholesalers don't even know how to evaluate rehab costs and have no access to get the true ARV and don't care either way, they are just trying to make the biggest spread instead of finding the best win-win scenario.
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27 June 2024 | 2 replies
The seller benefits from the spread between the interest rates of the old and new loans.Agreement: Ensure a clear agreement on who will be responsible for the existing mortgage payments and how any arrears or defaults will be handled.Seller Second Mortgage:Structure: The buyer gets a new first mortgage to pay off the existing loan and a second mortgage held by the seller for the remaining balance.Consideration: This may require refinancing the existing loan, which can be costly and may change the loan terms.I hope this helped.
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2 July 2024 | 108 replies
They shouldn't worry about your spread if you've explained how it works as long as they get their number.* The best wholesalers are usually real estate investors who are exceptional marketers and generate too many deals so they start wholesaling their overage to their friends.** Use a contract that has been vetted by a local attorney who knows what wholesaling is.*** Make sure you know how to estimate repair costs.
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27 June 2024 | 6 replies
A/C vendors make a lot of money on spread, so keep asking.
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26 June 2024 | 5 replies
Better than the alternative of having a line of credit at 12%, the 2-3% hit in spread is lower than a 5% increase in cost of capital in my opinion.
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25 June 2024 | 2 replies
lets say heloc rates are at 9% and deal is 15% coc, its a 6% spread Would youd do it?
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27 June 2024 | 18 replies
I still see great deals in Detroit and there is a lot of media buzz around Detroit for its rise in values and upward trajectory.