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Author Topic: **purchasing deals involving realators**  (Read 3639 times)

Offline hoopstar

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**purchasing deals involving realators**
« on: November 08, 2005, 02:51:18 pm »
Do investors tend to not want to purchase wholesale deal where agents are involved? Is it because since the agents are involved and they demand a comission that could cut down on profit margin?..Do Investors mind these deals?..What are the Pros and cons of dealing with a agent when you are trying to wholesale the deal to another investor?
« Last Edit: November 08, 2005, 02:52:10 pm by hoopstar »

Offline kdhastedt

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Re:**purchasing deals involving realators**
« Reply #1 on: November 08, 2005, 03:28:37 pm »

If the property is a FSBO, I don't use a Realtor...if it is listed with a Realtor, then I use my Realtor...if the property sells during the list period, you can bet your bottom dollar the the listing agent will get their money...

Keith
I have CDO...it's like OCD but in alphabetical order - the way it should be!

Offline tedjr

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Re:**purchasing deals involving realators**
« Reply #2 on: November 08, 2005, 07:05:04 pm »
Howdy Hoopstar:

I just bought a commercial building thru a Realtor and  did not even ask to share the fee. My dad is a broker and I could have gotten a % of the fee. I want the agent to make plenty of money off me. I bought this deal for $165K at full asking price and will repair it at a cost of $220K and it appraised at $725K. That is over $330K equity. Bring me some more like this one. It was worth even more.

What I do not need from Realtors are $250K houses that will rent for $1500 per month asking retail. I want wholesale deals.
« Last Edit: November 09, 2005, 07:10:09 am by kdhastedt »
Ted P. Stokely Jr

San Antonio, Texas

Offline Infowell

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Re:**purchasing deals involving realators**
« Reply #3 on: November 09, 2005, 07:36:09 pm »
"What I do not need from Realtors are $250K houses that will rent for $1500 per month asking retail. I want wholesale deals."

Quick-Draw-McGraw: "Hold on thaaaaar a minute!"

What if that $250k house that rents for $1500 per month is in a hot market with an imbalance in supply vs. demand?

Any adversion to riding the equity elevator?
Reality is for those with no imagination

Offline tedjr

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Re:**purchasing deals involving realators**
« Reply #4 on: November 09, 2005, 07:47:01 pm »
Howdy Infowell:

Which way? Up or Down? Who knows how long the ride last if it goes South I have already been there and done that. The building I just bought will rent for $9K per month when I finish the repairs and with a $400K mortgage I only need 50% occupancy to break even.

Ted P. Stokely Jr

San Antonio, Texas

Offline Infowell

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Re:**purchasing deals involving realators**
« Reply #5 on: November 10, 2005, 12:00:21 pm »
Howdy Infowell:

"Which way? Up or Down? Who knows how long the ride last if it goes South I have already been there and done that. The building I just bought will rent for $9K per month when I finish the repairs and with a $400K mortgage I only need 50% occupancy to break even."


By all means...if you've got a better deal lined up...

...however...

"Which way? Up or Down?"

Good question. I track daily listings coming to market - product currently offered for sale - estimated population growth estimates - and current building permits (SFR & multi-family up to 4 units, cause that's where I'm comfortable).

If you can identify an area with low supply & continuing demand...you've got a recipe for success.

Only wild card's interest rates at this time.

-Infowell
Reality is for those with no imagination

 




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