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17 July 2024 | 1 reply
That's why it's not selling.In most markets, your Maximum Allowable Offer (MAO) to a seller should be no more than: MAO = (70% * ARV) - Repairs - Wholesale_Fee MAO = (0.7 * 290K) - 40K - Wholesale_Fee MAO = 203K - 40K - Wholesale_Fee MAO = 163K - Wholesale_Fee - OR - MAO + Wholesale_Fee = 163KSo, you'd need to get this under contract with the seller at under $163K to make any money at all as a wholesaler.At $200K you're NEVER going to get any interest from experienced rehabbers.This is also why you probably got no resistance or pushback from the seller.
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17 July 2024 | 16 replies
You'll have Craigslist, Biggerpockets, referrals, you can call title companies, and even other wholesalers if you have no luck finding a buyer. 50% of a deal by co-wholesaling or joint venturing is better than 0% of no deal.
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17 July 2024 | 8 replies
and to be clear - no, there is no obvious / effortless / low risk way to put funds into something RE-related with no experience and easily beat savings or CD returns right now.lots of folks thought there was and got burned.getting in right now requires patience and money.
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14 July 2024 | 27 replies
@Tori Trent nope no issues running it for the last 3 years and have been booked!
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17 July 2024 | 13 replies
If they see no activity at the property, then yes they may squat there
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17 July 2024 | 8 replies
My second option is no Fixer-uppers and just buy good condition house for rental investment.
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14 July 2024 | 11 replies
The two biggest parts of the BRRRR strategy that I lack knowledge of are the rehab and refinance portions.
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17 July 2024 | 4 replies
Each option has its pros and cons, and I'm hoping to get some insights from this community to make a more informed decision.Option 1: Building an ADUPros:Increased Property Value: An ADU can significantly increase the value of my primary residence.Control and Proximity: I can closely manage and maintain the property since it's on my land.Potential for Higher Rent: ADUs in bay area can fetch a good rental price.Flexible Use: ADUs can serve multiple purposes – home office, guest house, or rental unit.No Additional Land Purchase: Utilizing existing property means no extra cost for land acquisition.Foundation improvements: I will get an upgrade for my foundation which increase house stability.
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17 July 2024 | 20 replies
There were no “buyer” representation in RESIDENTIAL, buyer broker was only practiced in the commercial arena.