Small in-town lots or big rural tracts for a first mail list
I'm building my first list and I've stalled on the very first filter, parcel size, because the two people I've asked gave me opposite answers with the same confidence. Case for sm…
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I'm building my first list and I've stalled on the very first filter, parcel size, because the two people I've asked gave me opposite answers with the same confidence. Case for sm…
Thin margins are my whole life and I don't want to spend 800 on an entity for something that might pay me 500 once. Somebody told me you can't accept a fee as an individual, you n…
I spent three weekends driving two older neighborhoods on the north side of my city, writing down houses with tarps, dead grass in July, mail piled in the box. Ended up with six a…
I've been trying to work out where to put my time on the dispo side and the two answers point opposite directions. The relationship answer: the asset is 30 buyers who pick up on t…
Working through what a first ground-up costs and I've noticed everyone has a different tripwire. Some people say untrended yield on cost, some say the spread over where they think…
I'm looking at building a service around gut rehabs rather than owning them, something like an owner's rep who runs the schedule and the money for investors doing two or three hea…
I've done it both ways and both hurt, so I want to see how this room splits. The GC version: you pay a markup, usually 15 to 25 percent on top of the subs, sometimes more on a gut…
Everything I've worked on has been in the $400k to $500k range. There's a house I'm looking at around $1.4M and I can't work out which part of my process stops working. Same crews…
Bought a dated 1970s hillside house in a luxury pocket at 2.05M, put 640k into it, all-in with 9 months of carry sits at 2.87M. Under contract at 3.395M, financing contingency cle…
Fifteen weeks in, one closed deal, and I can now say exactly which 1,400 I set on fire. I bought a list of 2,100 out-of-state owners for a three county area. Then I filtered it th…
1,500 square foot two story, bought at 171, spent 24 on paint, LVP, carpet upstairs, fixtures, and a bathroom vanity swap. All-in 202 with closing and two months of carry. My agen…
Trades background, so I've been on plenty of flips as the guy doing the work and never as the guy signing anything. Now I'm reading the other side of it and something bugs me. The…
Five of us across four rural counties have been sending each other deals informally for about eight months. Volume is low and the price points are low, which is the whole reason w…
I want the boring version of this that works, so forgive the blunt framing. My understanding of wholesaling is that the whole business is the buyer list. If you have 200 real cash…
I posted here a year and a half ago about modeling a brokerage to death and never opening it. Opened it. Here's what actually happened. Year one, ending last month: 5 agents inclu…
I'm looking at the lending side rather than running a firm, so my interest here is what a brokerage's balance sheet and liabilities look like from the outside. Someone told me a b…
I've been on this forum saying I'm building a list and not buying. Still true on the buying part. I did just close an option and I think the terms are worth writing down because t…
Been talking to three brokerages while I finish my coursework and one of them pitches 100% commission, $199 per transaction, $99 a month. Another is a 70/30 with a cap. A third wo…
Just started so forgive the framing, but I've been reading brokerage P&Ls people post publicly and something bothers me. A firm on a 70/30 split earns 30 percent of a variable num…
I've done a few lighter flips, paint and kitchens mostly, and I've been using the 70 percent rule the whole way. Max offer equals 70 percent of ARV minus repairs. Worked fine when…