another look at wholesaling

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Another Look At Wholesaling

They may or may not make seller aware that they will be searching for another buyer. Escrow with company and agent familiar with wholesaling

and concurrent closings.

Definition: Buyer #1 finds a good deal and secures it,

usually with sale or option

documents and an open escrow (30-60 days)

Another Look At Wholesaling2. Buyer #1 Markets the property. Time for

creativity.

3. Buyer #2 is found and agrees on price and terms.

4. Escrows close at the same time, from Seller to #1 And from #1 to #2,Allowing wholesaler to earn the

difference in prices.

Benefits Of Wholesaling

For The Wholesaler:

1. Opportunity to get started in Real Estate Investing with

ZERO capital.

2. Opportunity to continue to earn extra money.* Once the wholesale marketing machine is set up, it will

continue to run.

*Would 1 deal per month at $5K each be OK?

Benefits Of Wholesaling 2

For The Buyer:1. Wholesaler does all the time consuming work of finding the good deals

2. Wholesaler deals with the broken dreams andhard parts of life.

3. Buyer can focus on other parts of the business.

Wholesaling Notes to BuyersWholesalers can earn their fees

and they do if:

They have secured a truly great deal and are not trying to get

rich on this one deal.

Problems arise if the deal wasn’t that good or the wholesaler

tries to make too much..

If everyone thinks Win-Win, this can lead to a long term

partnership.

1810 Norris Dr . E . F resno, Ca 93703 $56,000

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Contact - Sam Okenyi Jr. / 559.394.9505 / triforce.sam@gmail.com

Property Specifics:

This property is just North of McKinley ave in between 1st and Millbrook ave in Fresno in the Mayfair

district. The home is in a quiet neighborhood and is close to shopping, dining and the 41 Freeway. This

Home is a great investment opportunity, from what we have seen there is a lot of investor activity in the

area that is driving up home values in the immediate area.

After repairs your net investment should be approximately $99,500. This would position your investment

around 73% of the ARV, leaving you a net margin of 27% ($35,500). The average sale of a comparable

non-REO, general listing (private seller) in a move in ready condition within 1 mile is $133,680.While the

average sales price of an REO property within a mile of the subject $72,600.

Bedrooms: 3 Bathrooms: 1.75 Total rooms: 8

No. of stories: 1 Year Built: 1951 Garage: Attached 1 car

Pool: No Square Feet: 1,618 Sqft Lot size: 6,900 Sqft.

1810 Norris Dr . E . F resno, Ca 93703

$56,000

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Investment Breakdown

Investment Details

Purchase Price: $56,000

Cost per Sq. F t. $34.61

Estimated Repairs: $35,000 *See Recommended Repair L ist

Total Projected Investment: $91,000

Estimated A R V (After Repair Value): $143,000 *See attached mar ket breakdown

Estimated Profits: $43,420(after 6% listing fee)/ $52,000(FSB O)

Investment margin including repair costs 64% of the A R V

Market Analysis

Average Private S/P within 1 mile: $133,680

Average Sq F t: 1,503

Average Pr/ Sq F t: $88.94

Average Dom: 42 Days

Average R E O S/P within 1 mile: $ 72,600

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

$180,000

Comparable Sales

Average

1810 Norris Dr . E . F resno, Ca 93703

$56,000

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My Opinion: The property needs a lot of work, mostly cosmetic. But has a lot of potential and is

in a good location, especially for FHA buyers. There has been a lot of investor activity in the

immediate area, driving up the After Repair Values. The house is one of the larger models in the

area, and has an open layout. Based off of the average comparables price per Sq Ft sold ($88.94)

the home could potentially sell for $143,000. And if you were to remodel this property in such a

way that it would comp at the top of the market in the area ($96/Sq Ft) you could potentially sell

for $155,328. With the struggling labor force out there people are willing to do work for

anything right now, and I am talking about qualified professionals in their craft, this just means

you can get a lot of the work done well without spending a fortune , I can provide a list of

people.

Recommended Repair L ist

! Interior Paint $1,000

! Exterior Stucco $1,500

! Interior F looring $6,000

! Kitchen remodel $6,000

! Bathroom remodel $1,500

! Windows $3,500

! Roof $8,000

! Dry wall work $500

! Landscape $1,500

! HVAC $3,500

! Kitchen Ceiling repair $100

! Light/electrical socket covers $48

! Interior light fixtures $400

! Blinds $450

! Front Door $300

! New Interior Doors $550

! Thermostat $35

Estimated Cost of repairs $34,883

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Property Images!

Back Yard

Living Room

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Kitchen

Main Bath Room

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MLS Sales within 1 mile

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4<+=)6'$23%2)3'>?$

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M LS Sales within a ½ Mile

Pending Sales

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Max had it good with the only dual panes on the property.

Burglar Fence has to go. Can

we sell it?

Stucco cracks require new dash coat

Two Entry Doors from the Un-permitted

Duplex. 1 stays & the other goes.

Fireplace and Palm Tree will go. (budget allowing)

Huge window 8 ft x 7 ft. Big heat load on

East but covered by

patio roof. PW over XOX

Water Heater’s gotta go. We

need the room and we dont

need the Carbon

Monoxide in the house.

Keep the sink in the corner? Or

reconfigure?

Glass blocks are a nice touch and will be retained

Fireplace:Remove?

Open this area up to the kitchen.

Entryway was wasted space even before.

Now that the entry is being

abandoned, the space will

become a walk in closet from the

adjacent bedroom.

Lowered ceiling in hallway. It must go ...

But will we put it back after installing ducts for the Mini Split Heat Pump?

Q. Can those wood floors be refinished?

A. Check back here in future weeks to see our answer.

Doughboy Pool is in good

condition and will be retained.

Mark on ceiling shows previous

duplex wall.

No main breaker. Will

need to add new service panel.

“Closet” was built on a porch.

Home has 3 coolers and 3 window AC’sAll must go...

Old wood shingle roof plus two comp roofs

= too many 32

Neighbor’s 5 Ton Unit brings question:

How small can we go on our larger home after our

envelope renovation?

A. Of course it will depend on the

Heat Load Calculation done

with Manual J. Your HVAC

contractor does that doesn’t he?

Palm TreeFireplace

Iron Fence How much to remove

$$$ ?34

What do you think?No Problem!

Wholesalers InterviewedTo see the 3 part Interview

with Sam & Chris

GreenEarthEquities.comTable of Contents,

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How, When, Why, Where, of Successfully Wholesaling

Houses in a Down Economy

& Details on 1810 Norris

Click PSU Tabel of Contents

Select Part 1, 2 or 3

another look at wholesaling

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great deal

reo property

wholesaler deals

deal wasnt

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wholesaling notes

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