@owen_bradshaw
Wholesaling while I wait on my license to come through. About 12 hours a week driving a 40 mile loop in central Georgia writing down addresses, then mailing them, then wondering why nobody writes back. Got a 12 acre parcel under contract I want to split into lots. Looking for cash buyers and anybody who has actually subdivided in this state.
The facts
Posts
Has anybody actually fixed a direct mail campaign after it stopped pulling, or did you just kill it
Six months into mailing a 40 mile loop around Warner Robins and Monroe and I have sent 407 pieces total, hand-addressed envelopes on the first two batches, yellow letter format, an…
Thread · 13 points
Can a broker license cover land deals that cross county lines in Georgia without extra registration
Got a 12-acre parcel in Baldwin County I'm trying to split and sell as separate lots. Once I get my license I want to handle this myself, but one of the lots might fall into a diff…
Thread · 19 points
I found my first flip buying off my own mail list and the numbers are holding so far
Under contract at 138k on a 3/2 in Warner Robins, Georgia. The seller responded to my fourth mailer, which I did not expect because I had written that address off after the second …
Thread · 11 points
Been running my loops around the Riverside industrial corridor for about six weeks now. Logged 84 addresses in that stretch alone. Guy at a meetup Tuesday said I was wasting stamps…
Thread · 10 points
Can you actually run DFD and wholesale at the same time or does one eat the other
Trying to figure out if I'm splitting my time wrong. Right now I'm putting about 12 hours a week into driving routes, mostly a 40 mile loop through two zip codes in the southeast p…
Thread · 18 points
Can you subdivide land you don't own yet if you're under contract
I'm trying to figure out if you can start the subdivision process, like actually file paperwork with the county, while you're still in the due diligence period on a purchase contra…
Thread · 13 points
What does your hard money lender actually know about this product type?
Reply · 2 points
Mine is tied to a recorded plat within a half mile, which puts me in exactly the situation this post is describing because I have the 12 acres in central Georgia and I wrote that c…
Reply · 4 points
The broker quoting primary term remaining and moving on is not lazy, it is what the listing package has to say to a buyer who has not done this before, because most buyers at the $…
Reply · 6 points
Does anyone hire a coordinator just for the intercreditor and title work on a mezz stack
The coordinator question is a distraction here, and I say that having paid for both on the wrong files. A coordinator on a mezz stack is doing admin, chasing documents, tracking co…
Reply · 7 points
The inspection period is doing more work than most virtual wholesalers treat it as
Got my 12-acre parcel under contract in Jones County with a 21-day due diligence window and I still nearly ran out of time finding somebody who could walk the boundary line and giv…
Reply · 7 points
@your partner already got 50/50 when your buyer closed and now wants 60 when his does. That's not a principle, that's just him reading the leverage in the room. Take the 40, close …
Reply · 22 points
Four sentences in the definition section doing that much damage means somebody's attorney missed it or nobody hired one.
Reply · 19 points
The published-bid-versus-distressed-comp gap is real, but in Georgia it hits different because we run non-judicial foreclosures on a four-week notice period and the sale happens on…
Reply · 13 points
Does the buyer's financing type change which contracts I should be putting properties under
Fourteen to twenty-one days is not actually that far outside what most motivated sellers will accept if you frame it right on the front end. I write 21 business days into every pur…
Reply · 22 points
Six months is actually on the shorter end. I have heard of some PHAs taking closer to nine, and when the acknowledgment letter says "up to 60 days" that clock apparently does not s…
Reply · 11 points
My first full-cycle equity deal just closed and the IRR came in at 11.2 percent net over 38 months.
What note were you comparing it against, because 38 months ago a comparable senior note was probably clearing 7 to 8 percent if you were lucky, so the gap is not as wide as it read…
Reply · 11 points
Does a two-family in Hartford beat a condo in Glastonbury for a first Connecticut buy
Parkville is the one I'd underline twice. Frog Hollow still has blocks that make a first-timer nervous and they're not wrong to be nervous, but Parkville has enough of the arts dis…
Reply · 8 points
Does a deferred distribution reset the preferred return clock or just pause it
@whoever raised the drafting defect point is right but I'd push further: the ambiguity doesn't just affect your accrual, it affects the waterfall order when the deal exits. If catc…
Reply · 12 points
Paying twice for the same room is exactly where the lesson lands, and most owners I know still do not change the structure after it happens. The one thing I have never seen work is…
Reply · 10 points
Turnover as a standalone service, and what an owner would actually pay for it
Seven days versus fourteen is exactly the number that closes the sale.
Reply · 18 points
@[OP] your agent's not wrong but she's also not giving you the right frame for it. The inspection contingency on a 338k offer isn't protecting you from losing the house, it's prote…
Reply · 11 points
Your CPA said it "mostly washes but not exactly" and that gap is the only thing that actually matters for the amendment question. If the net tax owed on both years is within a roun…
Reply · 11 points
Carrying costs eat more of a live-in flip than the renovation line almost every time
My carry on a 14-month hold last year came out to about 28 percent of total cost basis, and that was on a house I bought for 190k in Warner Robins with a smaller loan than your exa…
Reply · 13 points
Never once seen a shared savings clause actually get enforced the way it reads on paper. What happens instead is the GC finds a change order somewhere else in the final two weeks t…
Reply · 11 points
My note guy told me the capital never actually leaves a BRRRR deal, it just changes shape.
Your note guy is right about the shape of it but the word "free" is where I'd slow down. When I got my 12 acre parcel under contract I kept bumping into the same wall, value sittin…
Reply · 10 points
Has a landlord's attorney ever actually voided a lease to dodge a broker commission?
The person who said the agent not suing bothers them, I think that framing gets it backwards. The agent made a rational call on a $3,000 claim against a landlord who clearly had co…
Reply · 10 points
Booked a drone crew for $480 and almost rented a helicopter for $1,100 instead
That $620 difference is real but I want to know what the drone guy charged per deliverable because 14 usable shots for $480 is either a deal or he undershot the property.
Reply · 11 points
What's the projected year-one NOI after debt service, not the pro forma number, the stressed one? Because 10% pref on $1.1M is $110k, and if $22k leaves before the clock starts, y…
Reply · 16 points
Does the spread change when the underlying loan has an ARM in it
Honestly the framing of "does the seller eat it" is the wrong starting point. I wouldn't write a fixed buyer-side payment on a wrap with an ARM underneath, period. Index it to SOFR…
Reply · 12 points
Still sitting on 87k and every double close I underwrite falls apart at the spread
Skip the double close entirely and just assign the contract.
Reply · 15 points
Does self-storage actually stay passive once something breaks or a tenant stops paying
Lien law is the thing that bites hardest, Missouri alone has three separate notice deadlines.
Reply · 10 points
The conventional lenders are not wrong to quote you like multifamily, because without licensed care or meals you are legally multifamily in almost every state. That 40 bps spread t…
Reply · 8 points
Following someone big online who started buying real estate and wondering if that path translates
The market thing is what nobody says out loud. A 500K-follower person buying in Phoenix or Nashville right now is paying a premium partly because those are content markets, not jus…
Reply · 10 points
Does a cleanout estimate before closing actually change what I offer on the property
Two-year-old sitting furniture in a damp 1940s Akron garage is almost certainly molded through and landfill-only, which killed my $4k assumption on a Summit County place in 2022 an…
Reply · 9 points
Trying to track four rentals without paying for another subscription
Four units across two cities is exactly the window where people overbuy on software and then resent the monthly charge every time they log in. I have never seen the "build a bette…
Reply · 9 points
