Wholesale Deals from 1/26 wholesale class

[Nick Tang]

If you have any questions trying to sell these deals please post them here and i will gladly assist you with them.

[Frances Aldana]

Hi Nick,

Do you have the interior pictures for Valley Road?  And if so, can you please post them?

Thanks.

[Frances Aldana]

Ok, thank you Ezra.  Just wanted to be sure.

[Frances Aldana]

That was very helpful Randy.  Thank you for the explanation.  

Hi Nick, when will have the interior pictures for Valley Road?   And when you say this is a turn-key opportunity does that mean the potential buyer does not have to worry about repairing the roof, boiler,or anything else?  Please advise.

Thank you again :).

[Ezra M. Brathwaite]

Hey Frances, this is Ezra. That is the exact definition of turn-key opportunity and what Nick explained the wholesale package email. But I still let Nick your question about the Valley Road pics.  

[Tyree Mims]

can you provide the sq. ft of living area. Also do you have any interior pictures of 624 walnut in coatesville. Any details on type heat, age of roof, type of plumbing, electric, etc?

thx

[Rosalind L. Cheng]

Thanks a lot Nick for the Option Agreement link, and thanks a lot Randy Kuhn for the very enlightening explanation of how you came up with the rent and expenses, and pictures.

[Randy Kuhn]

hey guys, this is Randy (i work with Nick)

 

In regards to to Yu's questions about how we came up with the rent values and expenses, there are different ways to come up with the answers. In our case these are the real numbers, IE, the rent is what is actually being collected as per the lease and figures like insurance and water are what can be verified. You do need to verify numbers, so this is what you do for each one:

Rent -- look at leases, and ask owner to show proof of deposits. If no leases or tenants, call no less than 3 local realtors and they will pull rental comps just like they would do for house values. Make sure they compare similar square foot apartments, same bed count, same area (no more than 1/2 mile apart) and in similar condition

Insurance -- Call a local insurance agency and ask them for a quote on a property you are looking to acquire, they will shoot you something over.

Utilities -- Aside from a basic monthly service fee, it is dependant upon tenant usage (if not seperated). If seperated, dont worry about it, if you pay for any utility (gas, electric, water, oil, etc.), ask the owner again what they have been paying and see if they can provide some proof as in a billing statement.

Property management -- be conservative with 10%, but you need to know your area. Sometimes there are flat fees and others it %age based. This can be negotiated and a good rate is 5%. Nick likes to overestimate it so his buyers actually save more, so he uses 10%.

 

If the owner is uncooperative or unavailable, this goes to show the value of having a competant team. The realtor may know this information, but a local property manager would be a better choice for guestimating these amounts if it comes down to that.

 

Hope this helps

 

[Nick Tang]

Pictures below are all for church stI am currently waiting on more photos of the other properties.  As soon as i get them i will send them to everyone.

[Ezra M. Brathwaite]

Never mind Nick about the JPGs, figure it with a file converter program. Thanks! 

[Ezra M. Brathwaite]

Hey Nick, do you have JPGS pics of the Walnut St house, can't upload PNG pics to real estate sites