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?
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
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.
“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?
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.
[i][b]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.”[/b][/i]
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