Real Estate Investing Training Video Wholesale Deal Part 1
www.localmentor.com host Michael Jake shows how a wholesale house flip happens. A walk through of a typical REO, Bank Owned House, Estate House, tired rental property, and how the deal was Found, How it was Funded, and how the profit was made and how much! Learn more Colorado Creative Real Estate Investing Techniques at www.localmentor.com
This is one of a five part series toning workout designed for a zero equipment and small space setting. Start with the 1. Warm Up video. Repeat sequence. For more information on how to banish belly fat visit www.AnneKnowler-Fitness.com
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Yes, but…if you would have taken the time to fix this property you would have made much more money! I did one for $185, put in $22 and sold it for $298! More money made less agents to work with!
My dad is a real estate investor and we own a condo in the One Museum Park tower in Chicago, a condo in the Trump Tower in Chicago, and a condo at 325 Fifth in New York City. He makes about $12,000 a month for the rent his tenants.
“That nice aroma of pet odor and urine and that kinda thing…that kinda smell turns me on, that means opportunity!” Had to laugh when I heard that quote…Great video, Michael! Keep ‘em coming.
Hello had a question, I am in chicago and have just started trying to wholesale RE. I have a friend who is a Realtor and is helping me submit offers to shortsales on the mls, we have two problems: number one most of the agents we speak to have no clue and its so frustrating
And two what formula can I use to correctly calculate what a fair offer is to the bank WHILE still knowing I can make a profit to my cash buyers???
I seem to be offering way to little to the banks where deal is insulting
Great! I agree that the ugly house smells good. This is the opportunity for an investor. We are making money by solving other people’s problems. Automatically, other people’s trash will become our treasure.
@leafyutube – a lot of the deals I write on are at or around the listing price. You need to know what a “fixed up” version of a house similar is worth to back into what a good deal is for one. Today I got a contract on a listed house – listed at 65k, I got it for 61k – the After Repaired Value is 180k. That’s a deal without knocking 30% off listing – that’s where a lot of beginners make mistakes (me too when I started). Know ARV and work backwards. Takes some time to get good but worth it.
@localmentor Thanks for your thoughts. If I could also ask, what’s the best strategy to get a discount deal from an agent? Do you just make a low offer and then explain why it’s so low? That’s my understanding from your video. You’ve actually inspired me to give it a try.
@leafyutube – I’ve wholesaled in flat, sideways and down markets – you can make it work – have to look at the spreads between wholesale and retail buy just below the majority of wholesale and flip at wholesale. The % you can get of retail changes but not the ability to “wholesale”. One of the biggest mistakes I made was not building strong realtor relationships earlier on. Realtors are worth their weight in gold if you build a strong relationship with the right ones.
Looking for serious and hard working people who want to earn good money working on my team. Email me at: foster_236@hotmail.com and I will send you an Eligibility Form to fill out. If all is well then you can start working on my team ASAP!
@GrantHeathcote when assigning you’ll never need down payment money. When double closing (depending on the type of deal and who’s selling) you may need flash cash (REO’s possibly but other ways around that – see my video on flipping REO’s). I’ve never had anyone try to go around me – usually my buyer doesn’t know how to contact my seller and if it’s a listed property agents are too scared about getting sued to try to go around a signed contract. can also record a doc to protect your interest
@localmentor -REO’s? I was under the impression that you can not wholesale properties with the bank. If you can, how are you doing that? Also, are you bird-dogging to find your properties?
I am new to this and have a couple of questions if that is ok. I noticed a comment that said you could do wholesale deals using no money by assigning the contract or through a double closing. Wouldn’t you still need downpayment money at least in a double closing? Also when assigning a contract how do you stop the buyer from bypassing you and going straight to the seller? Thanks in advance for your response and for your video. Very enlightening.
@Samuelmusic9 – yes, quite a bit, but I typically buy with Owner Financing for “keeper” properties. You can’t avoid capital gains tax, you can postpone it.
Really great walk through. I love seeing someone do what America was built on – finding and capitalizing on opportunity. Great real estate tips, keep ‘em coming.
Oh hai! Have you thought about intellectus 424 diet (do a search on google)? Ive heard some incredible things about it and my cousin lost crazy amounts of weight with it.
wow!! that was a good work out… broke a sweat and can absolutely feel the burn… gonna start doing this work out every night that i’m not going to the gym!! hopefully ill eventuality get a strong as you and be able to do this workout as gracefully as you do!! thanks so much for posting this!
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Fantastic stuff. I’ve enjoyed your videos and can’t wait for more
Yes, but…if you would have taken the time to fix this property you would have made much more money! I did one for $185, put in $22 and sold it for $298! More money made less agents to work with!
My dad is a real estate investor and we own a condo in the One Museum Park tower in Chicago, a condo in the Trump Tower in Chicago, and a condo at 325 Fifth in New York City. He makes about $12,000 a month for the rent his tenants.
I need a mentor in Vegas. Or, if you have somewhere for me to stay I could move to Colorado I guess.
“That nice aroma of pet odor and urine and that kinda thing…that kinda smell turns me on, that means opportunity!” Had to laugh when I heard that quote…Great video, Michael! Keep ‘em coming.
Hello had a question, I am in chicago and have just started trying to wholesale RE.
I have a friend who is a Realtor and is helping me submit offers to shortsales on the mls, we have two problems:
number one most of the agents we speak to have no clue and its so frustrating
And two what formula can I use to correctly calculate what a fair offer is to the bank WHILE still knowing I can make a profit to my cash buyers???
I seem to be offering way to little to the banks where deal is insulting
Great! I agree that the ugly house smells good. This is the opportunity for an investor. We are making money by solving other people’s problems. Automatically, other people’s trash will become our treasure.
i went to your website, however i don’t live in colorado….do the laws allow this to work in other states? per say texas?
great video. keep them coming.
@localmentor
Those are really helpful tips. Thanks a lot!
@leafyutube – a lot of the deals I write on are at or around the listing price. You need to know what a “fixed up” version of a house similar is worth to back into what a good deal is for one. Today I got a contract on a listed house – listed at 65k, I got it for 61k – the After Repaired Value is 180k. That’s a deal without knocking 30% off listing – that’s where a lot of beginners make mistakes (me too when I started). Know ARV and work backwards. Takes some time to get good but worth it.
@localmentor
Thanks for your thoughts. If I could also ask, what’s the best strategy to get a discount deal from an agent? Do you just make a low offer and then explain why it’s so low? That’s my understanding from your video. You’ve actually inspired me to give it a try.
@leafyutube – I’ve wholesaled in flat, sideways and down markets – you can make it work – have to look at the spreads between wholesale and retail buy just below the majority of wholesale and flip at wholesale. The % you can get of retail changes but not the ability to “wholesale”.
One of the biggest mistakes I made was not building strong realtor relationships earlier on. Realtors are worth their weight in gold if you build a strong relationship with the right ones.
This is a lot tougher in hot markets. Very difficult to get a discount deal, and those damn real estate agents don’t make it any easier.
Looking for serious and hard working people who want to earn good money working on my team. Email me at: foster_236@hotmail.com and I will send you an Eligibility Form to fill out. If all is well then you can start working on my team ASAP!
hi please look at my Facebook page for real estate deals with working yields within the UK its Dan’s Deals.
@GrantHeathcote when assigning you’ll never need down payment money. When double closing (depending on the type of deal and who’s selling) you may need flash cash (REO’s possibly but other ways around that – see my video on flipping REO’s). I’ve never had anyone try to go around me – usually my buyer doesn’t know how to contact my seller and if it’s a listed property agents are too scared about getting sued to try to go around a signed contract. can also record a doc to protect your interest
@localmentor -REO’s? I was under the impression that you can not wholesale properties with the bank. If you can, how are you doing that? Also, are you bird-dogging to find your properties?
I am new to this and have a couple of questions if that is ok. I noticed a comment that said you could do wholesale deals using no money by assigning the contract or through a double closing. Wouldn’t you still need downpayment money at least in a double closing? Also when assigning a contract how do you stop the buyer from bypassing you and going straight to the seller? Thanks in advance for your response and for your video. Very enlightening.
love your channel and vids!!!!!
Great info…
i like it
@Samuelmusic9 – yes, quite a bit, but I typically buy with Owner Financing for “keeper” properties. You can’t avoid capital gains tax, you can postpone it.
this is very helpful.. do you ever buy out a property in hopes of renting it out to tenants, so as to avoid a capital gains tax?
Really great walk through. I love seeing someone do what America was built on – finding and capitalizing on opportunity. Great real estate tips, keep ‘em coming.
Does it work for fat all over the back? Cause i want my back to be fat-free, and i have a lot of fat over and under my bra
gonna try this for my belly fat thx
i like how her fat jiggles
@1089hai do as much as you can !
is this for butt fat or belly fat?
Wow that was an awesome workout! Thank you for showing us this!
can any one tell in a day how many times we do?
Oh hai! Have you thought about intellectus 424 diet (do a search on google)? Ive heard some incredible things about it and my cousin lost crazy amounts of weight with it.
wow,this is amazing,am sweatin haha thanks
this workout makes my balls hurt.
Wow, this really got me tired, whoo, great work out !:}
Does this get rid of belly fat, or just strengthen muscles?
JESUS! i’m wore out!! thank for this
so, this is going to burn belly fat?
so, this is going to burn belly fat?
Whats the average time it takes to lose the weight from the lower back and butt? By using this exercise.
wow.. honestly i only felt the burn in my arms..
wow!! that was a good work out… broke a sweat and can absolutely feel the burn… gonna start doing this work out every night that i’m not going to the gym!! hopefully ill eventuality get a strong as you and be able to do this workout as gracefully as you do!! thanks so much for posting this!
How Much Time Does this need to burn fat???
Is This Gonna Help Me Banish my Butt Weight??
i can tell this really works on the lower back, but does it truly work for the but area as well
?
Can some one tell me which are the exercise for lower back ONLY because I have a flat ass
is this for butt or belly fat?
this excerse is really good it works alo beter than the other ones and alot faster
thnak you so much.