Another Look At Wholesaling Definition: Buyer #1 finds a good deal and secures it, usually with sale or option documents and an open escrow (30-60 days) 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. G r e e n E a r t h E q u i t i e s . C o m
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Another Look At Wholesaling 2. 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. G r e e n E a r t h E q u i t i e s . C o m
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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? G r e e n E a r t h E q u i t i e s . C o m
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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 and hard parts of life. 3. Buyer can focus on other parts of the business. G r e e n E a r t h E q u i t i e s . C o m
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Wholesaling Notes to Buyers Wholesalers 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. G r e e n E a r t h E q u i t i e s . C o m
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1810 Nor ris D r. E . F resno, C a 93703 $56,000
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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
Y ear Built: 1951
G arage: Attached 1 car
Pool: No
Square Feet: 1,618 Sqft
Lot size: 6,900 Sqft.
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Contact - Sam Okenyi Jr. / 559.394.9505 / triforce.sam@gmail.com
G r e e n E a r t h E q u i t i e s . C o m
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1810 Nor ris D r. E . F resno, C a 93703 $56,000 Investment B reakdown 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 A verage Private S/P within 1 mile: $133,680 A verage Sq F t: 1,503 A verage Pr/ Sq F t: $88.94 A verage Dom: 42 Days A verage R E O S/P within 1 mile: $ 72,600
$180,000 $160,000 $140,000 $120,000 $100,000
High
$80,000
Low
$60,000
Average
$40,000 $20,000 $0 Comparable Sales
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Contact - Sam Okenyi Jr. / 559.394.9505 / triforce.sam@gmail.com
G r e e n E a r t h E q u i t i e s . C o m
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$56,000 M y O pinion: 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 F ront Door $300 New Interior Doors $550 Thermostat $35
Estimated Cost of repairs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
Contact - Sam Okenyi Jr. / 559.394.9505 / triforce.sam@gmail.com
G r e e n E a r t h E q u i t i e s . C o m
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Property Images! Back Yard
Living Room
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Contact - Sam Okenyi Jr. / 559.394.9505 / triforce.sam@gmail.com
G r e e n E a r t h E q u i t i e s . C o m
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$56,000 Kitchen
Main Bath Room
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Contact - Sam Okenyi Jr. / 559.394.9505 / triforce.sam@gmail.com
G r e e n E a r t h E q u i t i e s . C o m
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Saving The Planet One House At A Time 10
1810 Nor ris D r. E . F resno, C a 93703 $56,000 M LS Sales within 1 mile
!
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Contact - Sam Okenyi Jr. / 559.394.9505 / triforce.sam@gmail.com
G r e e n E a r t h E q u i t i e s . C o m
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Saving The Planet One House At A Time 11
1810 Nor ris D r. E . F resno, C a 93703 $56,000 M LS Sales within a ½ M ile
!
!
! Pending Sales
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Contact - Sam Okenyi Jr. / 559.394.9505 / triforce.sam@gmail.com
G r e e n E a r t h E q u i t i e s . C o m
Š 2010
Saving The Planet One House At A Time 12
1810 Nor ris D r. E . F resno, C a 93703 $56,000 !"#$%&"'()$*( +,+-(."//&0(1/2(3$0%(4/50'"6(7$(89:-9(
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Contact - Sam Okenyi Jr. / 559.394.9505 / triforce.sam@gmail.com
G r e e n E a r t h E q u i t i e s . C o m
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Stucco cracks require new dash coat
Max had it good with the only dual panes on the property.
Burglar Fence has to go. Can we sell it?
G r e e n E a r t h E q u i t i e s . C o m
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Fireplace and Palm Tree will go. (budget allowing)
Two Entry Doors from the Un-permitted Duplex. 1 stays & the other goes. G r e e n E a r t h E q u i t i e s . C o m
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G r e e n E a r t h E q u i t i e s . C o m
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Huge window 8 ft x 7 ft. Big heat load on East but covered by patio roof. PW over XOX G r e e n E a r t h E q u i t i e s . C o m
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Water Heaterâ&#x20AC;&#x2122;s gotta go. We need the room and we dont need the Carbon Monoxide in the house. G r e e n E a r t h E q u i t i e s . C o m
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Glass blocks are a nice touch and will be retained
Keep the sink in the corner? Or reconfigure? G r e e n E a r t h E q u i t i e s . C o m
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Fireplace: Remove?
G r e e n E a r t h E q u i t i e s . C o m
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Open this area up to the kitchen. G r e e n E a r t h E q u i t i e s . C o m
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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. G r e e n E a r t h E q u i t i e s . C o m
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Lowered ceiling in hallway. It must go ... But will we put it back after installing ducts for the Mini Split Heat Pump? G r e e n E a r t h E q u i t i e s . C o m
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G r e e n E a r t h E q u i t i e s . C o m
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Q. Can those wood floors be refinished? A. Check back here in future weeks to see our answer.
G r e e n E a r t h E q u i t i e s . C o m
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G r e e n E a r t h E q u i t i e s . C o m
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Doughboy Pool is in good condition and will be retained. G r e e n E a r t h E q u i t i e s . C o m
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Mark on ceiling shows previous duplex wall.
G r e e n E a r t h E q u i t i e s . C o m
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No main breaker. Will need to add new service panel. G r e e n E a r t h E q u i t i e s . C o m
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“Closet” was built on a porch. G r e e n E a r t h E q u i t i e s . C o m
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Home has 3 coolers and 3 window AC’s All must go...
G r e e n E a r t h E q u i t i e s . C o m
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Old wood shingle roof plus two comp roofs = too many G r e e n E a r t h E q u i t i e s . C o m
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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?
G r e e n E a r t h E q u i t i e s . C o m
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Palm Tree Fireplace Iron Fence How much to remove $$$ ? G r e e n E a r t h E q u i t i e s . C o m
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What do you think? No Problem! G r e e n E a r t h E q u i t i e s . C o m
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Wholesalers Interviewed To see the 3 part Interview with Sam & Chris Go to GreenEarthEquities.com Table of Contents, Left sidebar How, When, Why, Where, of Successfully Wholesaling Houses in a Down Economy
& Details on 1810 Norris
G r e e n E a r t h E q u i t i e s . C o m
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Click PSU Tabel of Contents
G r e e n E a r t h E q u i t i e s . C o m
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Select Part 1, 2 or 3
G r e e n E a r t h E q u i t i e s . C o m
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