This helped me.....most video's would just tell you to x.70 im like no one explains what the .70 was....thank you for breaking that down.....I am about to do my first deal....I'm excited!!!
It's 4:32am and I'm watching your videos trying to educate myself so I can try a first deal. If I can do this, my life will change in positive ways. Thank you for being open and sharing.
@@romaarmeteo3647 there's a lot I'm trying to figure out on my own. I'm still trying to learn as much as I can on my own. I drive for dollars everyday. I had two possible leads, but neither wanted to do an assignment fee deal.
@@user-fz3dy7bp9d He was a cash buyer but he flat out did not want to do an assignment fee contract. The other person was a "For sale buy owner" deal. It looked like the owner got tired of waiting for a cash buyer to approach the deal so they turned the sale process over to a lawyer. The lawyer didn't want to do any wholesale deals. She said the wholesaler had been contacting her and she just believed that wholesaler were scammers.
@@djcprice4376 Google transactional lenders. There are lenders that will lend money to wholesalers. You get a property under contract. You find a cash buyer. You buy the property from the seller using the transactional lenders funds and resell the property to the cash buyer. This process is called a double closing, or a AB & C real estate transactions. Furthermore, instead of "an assignment fee" next time ask your cash buyer to buy you out of the contract by forming a LLC. A real estate attorney can tell you how to do this.
How to also calculate the ARV (if there isn't a realtor around) is find at least 5 homes similar to the home your looking at like how many beds and baths square foot size and look at the retail price(meaning after everything has been repaired) and do your best to get the best accurate number for the ARV. Let me know if I missed anything Brian.
Mark Whitten has a formula and he said it's you take the 4 highest cash sold homes and that 1 mile or 6 block radius of the house & you add them all up and then divided by that number minus 65% and that's how you come up with the arv
I can not believe you are doing that where you live, I lived there for 15 years was interested in real estate when I lived there (just moved 3 years ago to Houston) I didn't think I could wholesale when I lived there but you are killing it. When I saw Stewart Title and the neighborhoods you were driving through and some info you mentioned in another video with Max I was like that is the correct location (of which I am not disclosing because I don't know if you want people to know where you invest) but you are killing it there. My hats off to you for taking control of that market, in all my years living there I never met a wholesaler in that area not once.
Dude i was starting to feel a little slow with the numbers in this game . I’ve watched soo many videos and i think this broke down the formula in general and then broke down the “general” into detail . It was exactly what i was looking for cause baaaaby math wasn’t it for me either . But i get it and now i think I’m ready to get too the next step . I’ll be watching more of your videos . Thank you !!!
I'm really glad you pointed out the "other" type buyer AKA the family. I have a situation where the lead/deal is best suited for a "family" looking for their first home.
No, I noticed it too, in fact, I had to back the video up to see what MOA meant because "MOA" didn't make sense (unless you want to call it "Maximum Offer Amount").
Hey Brian. This was an awesome video. This is the first time I have been able to understand how to calculate the offer. Thank you for breaking it down into simple terms. It made a difference! I now feel more confident I can do this.
Great timing for this video bro. I just spoke to a seller today and I am about to give him my offer in the morning. The house is in a war zone. ARV is 40k. Duplex 2 bd 1ba each. Needs a complete gut job I am estimating repairs at 20k on a 2,000 sq ft place. I was going to offer $2500 up to $3000. Flip it as a handyman special for $8,000 to make my first $5,000 assignment fee. Your thoughts?
That intro was fire. I went back and watched it again after i thought about it. Love your Content. I would love to email you with some questions I have as a new real estate investor.
So I’m meeting with a seller tomorrow and they’re ready to sign however they don’t want to give me a spare key so u can show to a potential buyer during the my 30 days window.What should I do? I can’t market a house without showing the inside. I told her it’s to have my contractor give me an estimate but she said bring them to tomorrow
5:47 Is there is reason why the commission and closing costs weren't included in the initial calculation? M.A.O. (Maximum Allowable Offer) Thank you for this video. Overall, I have a much clearer understanding, especially how the percentages can be adjusted.
If it is an investor (cash buyer) they usually will pay all of closing and if there's not an agent involved there wouldn't be any commission to pay out.
Hahaha. You’re dyslexic like me lol “MOA” ...MAO! 🤦🏾♂️ maaan I appreciate this clip so much bro... you really unlocked my fear with this formula. Daaaamn it’s so simple! Blessings to you 🙏🏾
Thank you! For the videos, very helpful, I'm trying to make the transition or at least add this to my current investing. I'm in the process of gaining knowledge. Great videos!
Do you have to get sellers that own the home with no mortgage? What if they have a mortgage how do you sale that? What is the max home ARV you can buy from? Does it need to stay in the $100k range? I'm trying to start but I have sooo many questions!
Hey Brian, I saw your video with Leo and I want to say I do love your intro and outro.., Your man is the man and you da man too for all this great content. there are so many people here doing this till it's hard to believe that I can't do this. I really need to replace my income. My job is literally killing me I'm working with all these chemicals that are beginning to eat away at my health and that's no good for me or my family. I have been failing BIG I went out and spent my money on an LLC and now I have operating cos "just to hold the name". I wish I had started here first but have re-ignited my flame. I was wondering if you have any videos at the closing table. I understand that there are a lot of hurdles you have to jump to get things done.
QUESTION @7:11 : when you increase the offer price to 50k, would that actually also increase your fee to like ... 15k instead of 5k? ... Can you clarify how you're taking a cut? Thank you man , love your vids✊
Hey Brian first I want to say I really appreciate your videos I’ve only been following you for a week and I Kinda just let them play in my car like I’m listening to a podcast on my way to my regular job as I soak in and educate myself about all of this new world I’m learning about. quick question if I don’t have any relationships with contractors and if I am trying to make a motivated seller an offer as quickly as I can how would I go about getting bids from contractors to find out the repair cost? it seems like I wouldn’t be able to bring them by without having the agreement signed but at the same time I can’t have the agreement signed unless I know what to offer the seller but I can’t do that if I don’t know the repair cost. I hope that makes sense
127Mhaze great question. Put it on the seller so If the numbers are off it’s not your fault. Example: “So Mr Seller, about how much do you think it will cost to get this thing all fixed up and in great condition to resale?” and use the number that they give you to calculate in your offer. If after your research you find that the repair estimate was too low, it’s easier to renegotiate since “their” repair estimates were inaccurate. Makes sense?
Hi Brian, I am just starting off in the business. I am very motivated but don't have income for marketing. I am hoping to get my first deal to use those funds to put back into the business. What do you suggest? I have yet to get a home under contract. Thank you for your response. My ultimate goal in 3-5 deals a month at this point. I will get there, I am sure.
Hi Brian thank you so much for this video I'm a newbie getting into wholesaling and I have a question: How do you get the real estate investor and the contractor on board if they not making a profit? Can you do a video on how to get the real estate agent to give you the ARV if they're not going to be getting a profit same thing with the contractor or do you refer the buyer to either party I'm just trying to see how you would get them to work with you. I have a few people in both categories but before I reach out to them I want to find out some tips on what I should say to get them on my team thanks in advance!
Great video. Thanks Brian. Question, don't we need to take a percentage out for closing costs as well? We always market to sellers talkin bout No closing costs etc. Just curious bro
Hi Brian, I’m trying to get into the business to be my own boss and I have been watching lots of videos to get educated in the wholesaling thing , I have a question, once arv has been discussed with the seller and agreed then put on a contract where do you get this investors with cash money or cash buyers?
Inspiration to us all! Hopefully one day I get a chance to teach my own vids to help people trying to endure this business as well,until then preach on my brotha! Lol
Is there a part of the contract the releases you from paying the seller in case you don't get a cash buyer? And what contracts do you use specifically when wholesaling? Also what contract is used for the cash buyer and where do you get that one as well???
Thank you for this video! Quick question: Will a real estate agent be willing to give you comps for your deals? Same with contractors? Will they be willing to come out to every property you want to analyze? There's nothing in it for them so why would they? Do you pay them? Thanks!
I know that realtors will sometimes work with flippers so that they can be the agent on the 2nd deal. Outside of that, I'm not sure but it's always worth it to ask
@brian . When wholesaling Deals you find, do you need to create a separate NEW total different contract for every seller? Or can you just type out one original copy and just multiply them for every seller in your state?
Brian, do you have the Assignment contracts with your name on it or your LLC? In other words, the checks you receive, are they made out to you personally or to your business name? I am looking to get started quickly and would like to know if I need to get my LLC setup for the payment or can it be done in my name? (Thanks in advance for an answer)
This helped me.....most video's would just tell you to x.70 im like no one explains what the .70 was....thank you for breaking that down.....I am about to do my first deal....I'm excited!!!
What is your marketing strategy for sellers and buyers
Congratulations on ur first deal hw was it
What’s up what’s up I’m working on my first deal too
where r u at now?
How did the deal turn out?
It's 4:32am and I'm watching your videos trying to educate myself so I can try a first deal. If I can do this, my life will change in positive ways. Thank you for being open and sharing.
Its been a month. Hows it going with the wholesaling?
@@romaarmeteo3647 there's a lot I'm trying to figure out on my own. I'm still trying to learn as much as I can on my own. I drive for dollars everyday. I had two possible leads, but neither wanted to do an assignment fee deal.
Djc Price do you mean purchase agreement? Because assignment contract is between you and the cash buyer.
@@user-fz3dy7bp9d He was a cash buyer but he flat out did not want to do an assignment fee contract. The other person was a "For sale buy owner" deal. It looked like the owner got tired of waiting for a cash buyer to approach the deal so they turned the sale process over to a lawyer. The lawyer didn't want to do any wholesale deals. She said the wholesaler had been contacting her and she just believed that wholesaler were scammers.
@@djcprice4376
Google transactional lenders. There are lenders that will lend money to wholesalers. You get a property under contract. You find a cash buyer. You buy the property from the seller using the transactional lenders funds and resell the property to the cash buyer. This process is called a double closing, or a AB & C real estate transactions. Furthermore, instead of "an assignment fee" next time ask your cash buyer to buy you out of the contract by forming a LLC. A real estate attorney can tell you how to do this.
How to also calculate the ARV (if there isn't a realtor around)
is find at least 5 homes similar to the home your looking at like how many beds and baths
square foot size and look at the retail price(meaning after everything has been repaired) and do your best
to get the best accurate number for the ARV. Let me know if I missed anything Brian.
Use REWW.com Smart system...they allow you to sign up free & review comps
Zillow
How would you know about the repairs... would you get a contractor to go with you to see the house?
@@sdavis9361 No, they dont!!
Mark Whitten has a formula and he said it's you take the 4 highest cash sold homes and that 1 mile or 6 block radius of the house & you add them all up and then divided by that number minus 65% and that's how you come up with the arv
I can not believe you are doing that where you live, I lived there for 15 years was interested in real estate when I lived there (just moved 3 years ago to Houston) I didn't think I could wholesale when I lived there but you are killing it. When I saw Stewart Title and the neighborhoods you were driving through and some info you mentioned in another video with Max I was like that is the correct location (of which I am not disclosing because I don't know if you want people to know where you invest) but you are killing it there. My hats off to you for taking control of that market, in all my years living there I never met a wholesaler in that area not once.
This on the best break downs of the ARV- 70 percent rule. Thanks for taking the time!
THANKS ONCE AGAIN MY BROTHER, I AM LEARNING, I WILL BE STARTING A SUCCESSFUL WHOLESALING REAL ESTATE BUSINESS THIS YEAR, THANK YOU MY BROTHER.
I love the Jim rohn in the beginning. I’ve watched his Sunday seminar probably 10 times.
THAT INTRODUCTION WAS FIREEEE
Thanks brother!!!
Bro the quality in that intro and the dude talking is on point! I e heard the full speech and I loved and and the way you incorporated it was nice!
I agree! I recognized the voice as Jim Rohn. He was entrepreneur and motivational speaker. 😊
Thank for the break down I can understand lol. Math wasn't my strongest subject either!!!
I've watched multiple videos to try and understand this formula. This video is by far the BEST and simplest explanation to me. Thank you!!!🙏🏽
Dude i was starting to feel a little slow with the numbers in this game . I’ve watched soo many videos and i think this broke down the formula in general and then broke down the “general” into detail . It was exactly what i was looking for cause baaaaby math wasn’t it for me either . But i get it and now i think I’m ready to get too the next step . I’ll be watching more of your videos . Thank you !!!
Bro this was a crisp and clean explanation! And to top it off i had no idea to look at other types of BUYERS!! good lookin!!
I'm really glad you pointed out the "other" type buyer AKA the family. I have a situation where the lead/deal is best suited for a "family" looking for their first home.
Best breakdown I’ve seen so far! Thanks
Maximum Allowable Offer.....MAO- I believe I was the only one who noticed. Great video though.
The Real KJ Springs I noticed too lol
He says it in the video lmao
You wasn't lol. We get what he meant.
No, I noticed it too, in fact, I had to back the video up to see what MOA meant because "MOA" didn't make sense (unless you want to call it "Maximum Offer Amount").
@@llclassifiedll8179 Yes, he says it in the video, but didn't correct it on the whiteboard.
Hey Brian.
This was an awesome video. This is the first time I have been able to understand how to calculate the offer. Thank you for breaking it down into simple terms. It made a difference! I now feel more confident I can do this.
I appreciate your openness in sharing your knowledge, and that you get right down to business in your videos. Thank you.
Finally!!! someone actually puts the formula out for me to learn how to structure the deal Thank you B-MAN
I LOVE THIS INTRO!!! Its honestly what makes the process fun. So glad I found you through MAX MAXWELL
Part time Real Estate Investor, Full Time Grinder! Great information, thank you again!!
Definitely appreciate this video. Helped a ton. I've been trying to understand the math for a second now. Good look!
Me too, I was wondering how he made income by selling to a rent-to-own buyer. Now I see he's got his fee built in ahead of time.
Great timing for this video bro. I just spoke to a seller today and I am about to give him my offer in the morning. The house is in a war zone. ARV is 40k. Duplex 2 bd 1ba each. Needs a complete gut job I am estimating repairs at 20k on a 2,000 sq ft place. I was going to offer $2500 up to $3000. Flip it as a handyman special for $8,000 to make my first $5,000 assignment fee. Your thoughts?
@RKELLYSCOCO he thinks the area is about to make a comeback!
@@ChrisMonroeSTL how did it go ? 20k for a complete gutjob is too low for 2k sq ft
How did it go?
Thanks alot. Second time watching. Needed a refresher to keep me on track.proud of u dude. Keep up the good work.& Nice music/ soundtracks!
yo.. you really helped me out with this, I was so confused before this video
Im clapping, You made this so easy for me to understand , Thankyou !
That intro was fire. I went back and watched it again after i thought about it. Love your Content. I would love to email you with some questions I have as a new real estate investor.
Great content. I have a property under contract and never consider marketing it to a family looking for a house or newbie investor. Great stuff!
So I’m meeting with a seller tomorrow and they’re ready to sign however they don’t want to give me a spare key so u can show to a potential buyer during the my 30 days window.What should I do? I can’t market a house without showing the inside. I told her it’s to have my contractor give me an estimate but she said bring them to tomorrow
Ya intro HARD lol Leo killed that 🗣
Genius - I’m getting ready to get out there and do this! Thank You
5:47 Is there is reason why the commission and closing costs weren't included in the initial calculation?
M.A.O. (Maximum Allowable Offer)
Thank you for this video. Overall, I have a much clearer understanding, especially how the percentages can be adjusted.
If it is an investor (cash buyer) they usually will pay all of closing and if there's not an agent involved there wouldn't be any commission to pay out.
Im glad the algorithims led me to you🤗
Thanks for this video! Simple and to the point. I’m preparing to get my first deal this month.
Good video and nicely presented.
Thanks Mr. Iregbu.
Can you do one on how to approach your buyer when you have a contract. How do you engage them
I LOVED the visuals! Math wasn't my thing either, IF THERE were visuals I would have learned!
What's ARV?
Brain u the Man.. Young King Schooling Knowledge God Bless U Brother.
Hi Brian, do you have a video on after you have comparative market Analysis on a property how do you come up the number?
Hahaha. You’re dyslexic like me lol “MOA” ...MAO! 🤦🏾♂️ maaan I appreciate this clip so much bro... you really unlocked my fear with this formula. Daaaamn it’s so simple! Blessings to you 🙏🏾
Nice video thank you
Question
Is there a similar rule or formula that can bring you to some realistic offer for the house on mls
Thanks
Like the intro, fam
FairieDust1111 thank you!
FairieDust1111 this is true!!! I wanna watch the intro every morning for motivation 😂
firess mitchell you can look up the full speech
Intro was tuff
If you put the house under contract for 45k. How much would you sell it for to a cash buyer? And the ARV 100k
THANK YOU! Very helpful information. I'm new to REI and it helped me understand the formula. Thanks for the great tip!
Hey Betty, yes it was super helpful I am on the same boat. New at all this and Love in it.
This video is gold for me. Thank you!
Thank you! For the videos, very helpful, I'm trying to make the transition or at least add this to my current investing. I'm in the process of gaining knowledge. Great videos!
I subscribed just because he had Jim Rohn in his intro and it was just a sick intro period.
Great video! What about carry and closing cost? Do you factor in these numbers when you’re making an offer to your end buyer?
Do you have to get sellers that own the home with no mortgage? What if they have a mortgage how do you sale that? What is the max home ARV you can buy from? Does it need to stay in the $100k range? I'm trying to start but I have sooo many questions!
Hey Brian, I saw your video with Leo and I want to say I do love your intro and outro.., Your man is the man and you da man too for all this great content. there are so many people here doing this till it's hard to believe that I can't do this. I really need to replace my income. My job is literally killing me I'm working with all these chemicals that are beginning to eat away at my health and that's no good for me or my family. I have been failing BIG I went out and spent my money on an LLC and now I have operating cos "just to hold the name". I wish I had started here first but have re-ignited my flame. I was wondering if you have any videos at the closing table. I understand that there are a lot of hurdles you have to jump to get things done.
This changed my life 🙏🏾. Peace
Yes! I finally got it !!!!! Thank youuuu!!!
How did you come up with the proper contracts for the different deals , like wholesale vs subject to's
Could I used Zillow to get the arv
Good looking out Bro you doing your thing it's appreciated that you share your knowledge with those who need it.
QUESTION @7:11 : when you increase the offer price to 50k, would that actually also increase your fee to like ... 15k instead of 5k? ... Can you clarify how you're taking a cut?
Thank you man , love your vids✊
Your intro is fire! Thanks for the vid.🔥
Can you do a session on how to use private money or hard money to buy wholesale deals with a 6 month grace period?
Hey Brian first I want to say I really appreciate your videos I’ve only been following you for a week and I Kinda just let them play in my car like I’m listening to a podcast on my way to my regular job as I soak in and educate myself about all of this new world I’m learning about. quick question if I don’t have any relationships with contractors and if I am trying to make a motivated seller an offer as quickly as I can how would I go about getting bids from contractors to find out the repair cost? it seems like I wouldn’t be able to bring them by without having the agreement signed but at the same time I can’t have the agreement signed unless I know what to offer the seller but I can’t do that if I don’t know the repair cost. I hope that makes sense
127Mhaze great question. Put it on the seller so If the numbers are off it’s not your fault. Example: “So Mr Seller, about how much do you think it will cost to get this thing all fixed up and in great condition to resale?” and use the number that they give you to calculate in your offer. If after your research you find that the repair estimate was too low, it’s easier to renegotiate since “their” repair estimates were inaccurate. Makes sense?
@@Housebuyingbrian perfect sence
What is the best way to find an investor friendly realtor?
intro is bananas!
thanks this video really helps I haven't made my first deal yet dude to understanding how to calculate offers
Great, I been having a problem with that and haven't even started, this helped alot now I'm ready for the ARV video
really loving the branding and the intro is so dope. looking good and legit.
Hi Brian, I am just starting off in the business. I am very motivated but don't have income for marketing. I am hoping to get my first deal to use those funds to put back into the business. What do you suggest? I have yet to get a home under contract. Thank you for your response. My ultimate goal in 3-5 deals a month at this point. I will get there, I am sure.
Great video Brian.
what do you need paperwork wise in order to get the house under contract and so they can't go around you they have to go thru you for the sale?
Do you suggest getting with a real estate group or doing it on your own if you’re a beginner?
I subscribed because he had motivational speaker Jim Rohn. He knows whats up
How do I get into this I want to do it but donk know where to start at can you help me out. I am im Houston Texas.
I liked and subscribed bro. I like how you breakdown your winning formulas. Are you offering any mentoring programs ?
Appreciate the advice, man. Do you have any tips for accessing repair costs ?
So You have to get a contractor to go out BEFORE OFFERING THE PRICE, OR GETTING IT UNDER CONTRACT....?
Hi Brian thank you so much for this video I'm a newbie getting into wholesaling and I have a question: How do you get the real estate investor and the contractor on board if they not making a profit? Can you do a video on how to get the real estate agent to give you the ARV if they're not going to be getting a profit same thing with the contractor or do you refer the buyer to either party I'm just trying to see how you would get them to work with you. I have a few people in both categories but before I reach out to them I want to find out some tips on what I should say to get them on my team thanks in advance!
Great video. Thanks Brian. Question, don't we need to take a percentage out for closing costs as well? We always market to sellers talkin bout No closing costs etc. Just curious bro
great video fam! Thank you I will be taking your course!
Appreciate the video! Who is that and what speech is that in the intro?
thanks for the breakdown. I was really having a hard time doing the math lol
Hi Brian, I’m trying to get into the business to be my own boss and I have been watching lots of videos to get educated in the wholesaling thing , I have a question, once arv has been discussed with the seller and agreed then put on a contract where do you get this investors with cash money or cash buyers?
Thank you brother. Simple and straight forward.
That opening was 🔥
Inspiration to us all! Hopefully one day I get a chance to teach my own vids to help people trying to endure this business as well,until then preach on my brotha! Lol
Is there a part of the contract the releases you from paying the seller in case you don't get a cash buyer? And what contracts do you use specifically when wholesaling? Also what contract is used for the cash buyer and where do you get that one as well???
that is my Favorite speech
Intro is sickkkkkk af!!!
christian jimenez Zackly!
This is golden!
Man I love your channel. I’m a loyal fan!
Ooow weee that is sooo true....I lost a deal when I mentioned that I had to get the contract from out of my car to get it signed....and she flipped...
Just curious, why would they get upset at you for getting the contract?
What about closing costs, & holding costs (taxes, insurance, etc)? Cash Buyers also factor in those numbers during their "due diligence" process.
big help I am new to all this thanks so much was having problem with understanding that
Thank you for this video! Quick question: Will a real estate agent be willing to give you comps for your deals? Same with contractors? Will they be willing to come out to every property you want to analyze? There's nothing in it for them so why would they? Do you pay them? Thanks!
I know that realtors will sometimes work with flippers so that they can be the agent on the 2nd deal. Outside of that, I'm not sure but it's always worth it to ask
Do you have to pay a realtor to find the ARV? And pay contractors for repair bids?
At what time in the wholesaling process do you have the contractors come in for bids?
Vincent Deblois Larocque my question as well and is there a cost associated with them giving their estimate
@brian . When wholesaling Deals you find, do you need to create a separate NEW total different contract for every seller? Or can you just type out one original copy and just multiply them for every seller in your state?
Brian, do you have the Assignment contracts with your name on it or your LLC? In other words, the checks you receive, are they made out to you personally or to your business name? I am looking to get started quickly and would like to know if I need to get my LLC setup for the payment or can it be done in my name? (Thanks in advance for an answer)
"Remember Math" lmao, he's funny as shit. Love the Videos. Always great content. Inspiring. Thanks for sharing
So how much would I present this to for a buyer ? Using this particular example ?
Do you need to register your brand or company as a wholesaler in order to pay texes?
This was great info about the different types of buyers also!!
thank you for breaking that down man awesome vid! Can you tell me where to get the assignment contracts from?
Search flip man on RUclips. He gives away a 1 page assignment contract and covers it in detail.
I follow you on IG but I’m going and looking at hopefully my first wholesale property this afternoon and this video was super helpful! Thanks Brian!
Please update us