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3 contributions to The Collab Deal Hub
Novations aren’t always Beautiful
First off, the subject of this conversation is a property we actually closed on and got funded today 🤩 So this particular LEAD was acquired about six months ago. They reached back out to me in March. One thing I’m big on when it comes to talking to working with sellers, is 1.) acquiring as much information as possible about their situation and their timeline and 2.) what it looks like for them once they close and are funded. Like most deals, I do, this was a virtual deal that I was able to acquire a contract on based off our conversation site, unseen. Originally this was Contract at $239,000 with an estimated rehab of $65,000 based off the conversation with the seller. Once we did our inspection, we realized that our rehab cost was practically doubled and that the condition was not anywhere near what the seller described to us. (it’s important if you are doing anything virtual to always have boots on the ground in the market to do a walk-through once once you get a contract) So we were able to negotiate this down to $139,000 and we listed it on market for $199,000 anticipating at least $30,000 By collaborating with @Beatriz Saucedo as the listing agent, she was able to bring us multiple offers in about four days. Which was a great turnaround time for a home that needed over $100,000 in rehab We acquired a cash buyer for this property. And we thought we were good and had a clear path going forward.. Then we found out there was multiple liens on the property from taxes to solar and another lien that totaled about $108,000 Fortunately, by working with the right title company, we were able to get everything done and cleared, But the numbers completely completely changed from what we were originally able to offer the seller to our bottom line what we were going to walk away with Overall, the deal ended up and the seller understood that they all they could from the property before selling it.. this ended up being a win-win situation for everybody involved
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New comment Apr 19
Novations aren’t always Beautiful
0 likes • Apr 19
Great job! I’d really love to learn what a notation looks like start to finish. I think Matt is doing a Family Tree on this soon and I’m really looking forward to it.
Realtor Expereinces
I want to open this discussion regarding working with wholesalers… I’ve been an agent for almost 4 years now, but got started in real estate on the wholesale side. Over the years I found it difficult to work with agents as a wholesaler, mostly because of the unknown. Once I became licensed, I was able to step into an agents shoes and experience the calls for comps, the promises for listings and promise of opportunity to bring buyers for a split. UNFORTUNATELY I as an agent just kept giving but never saw a return. That being said. What’s been your experience? Have you partnered with wholesalers to do deals? If you have not, why? This would be a great forum to really open up about experiences and find a way to actually collaborate fairly. What are your expectations when working with a wholesaler?
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New comment Apr 18
1 like • Apr 17
I like this discussion. Jody and I took a stab at the wholesale business in Florida and got caught up in the FCC regulations for email blasting, quickly pivoted to a VA but weren’t unable to have any real successes yet. That being said in the Arizona market, we have dealt with quite a few wholesalers, and our experience has not been super positive except for a couple of really great wholesalers, we have been left high and dry a few days before closing on a few occasions and communication has been difficult as well. We were made to feel like we had no control in the situation because Wholesalers know their “outs”.
0 likes • Apr 17
Thanks, Javier, I think it is KEY to find wholesalers and investors that have clear communication from the start and yes, I agree, I will also be more forthcoming with my requirement for transparency moving forward. I have been in situations where I have asked for that transparency and asked questions that, in some cases, I feel like I’ve been lied to. I need to make sure to track who I’ve dealt with and my experience so that I can blacklist anyone that is shady basically. And likewise star are the ones that are great to work with and keep working with those folks!
Hello from Phoenix!
Hey everyone! My partner Jody and I are new to wholesale. We’ve tried SMS marketing just as things were changing with the FCC. Did that for a couple of months then pulled out to move to a VA. We’ve had some viable leads in Jacksonville, FL and Phoenix but no successes yet. Having come over to REAL we’re hoping to learn how to maximize our potential and reach by learning more about WS as well as novations, short sales and any other ways we can provide options to our clients. Excited to be a part of the community!
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New comment Apr 2
1 like • Apr 2
We had a good first couple of weeks then the FCC cracked down and we were really inhibited with any messaging we could use so we pulled out. Also we needed responsive boots on the ground in Jacksonville and found it hard to connect with our JV partner out there so we’ve taken a break for a bit and may keep it local where we can do the work where we live. Looking forward to collabing here and getting back into it.
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Keri Sitrick
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15points to level up
@keri-sitrick-1491
Agent and Investor living and doing business in Arizona.

Active 42d ago
Joined Mar 28, 2024
Phoenix
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