RoofTopTimes vol 7 pg 1

1
RoofTopTimes vol 7 pg 1
What is a wholesale property? Part 1 I got a
call early last week and was asked if I had
wholesale properties for sale. The term
wholesale can be confusing. So I though I would
share what I know about wholesaling and why the
term raises yellow flags for me. A
wholesale property can be bought many different
ways bank REOS, Hud, VA, Short Sales, etc. I
have also seen them at investor events. Some are
good deals and others are not If I were to buy
from a wholesaler I would want to know a few
things before I committed to the sale.
1. How was the value determined? 2. How much
money is needed for fix-up and who determined the
cost? 3. How many successful properties has the
wholesaler actually done him/herself? 4. Do they
have all the systems set up to assist you through
completion? 5. Will they still be there after
closing? 6. If I cant or do not want to sell,
what is the rent in the area? What is my profit
picture with that scenario? 7. Do they have
recommended financial institutions? 8. Do they
own proprties in the area? Let us
consider the above questions 1. Value.
Determining the value of a property can be very
complex. Comparable sales must be considered.
These are sales of like properties in the
subdivision or area. The square footage should be
within 10 of the subject property. The number of
bedrooms and baths should be the same. The
properties should be in similar condition and lot
placement. For example, has the property been
recently remodeled? Or is it located on or near
a busy street, commercial property, railroad,
shopping center, etc. As you can
see there are many factors to be considered when
calculating the value of a home. That is why I
recommend that you consult with a licensed
professional realtor. Their access to information
and expertise can help you avoid a potential
costly mistake. ---- Brett Young, Valley Realty
Education is free at RoofTop Rooftop
Investment, LLC was designed to provide education
for free. Having explored all the investment
clubs out there, we chose to be different. Most
other clubs charge large fees for their
educational components. Although RTI believes
that education is paramount, we feel that the
other clubs are missing the boat not providing a
vehicle in which to actually invest. Education is
where all investors should begin, but rather than
investing big money into education, we would
rather have them invest in properties.
Our system is intended to offer both education
and investment opportunities. While educating our
clients, we also provide them with affordable
real estate with equity and cash flow. RTI
searches the country for the best deals. Some
properties cost less than a new car. Our goal is
to help our clients be successful! Sign up for
our Aug 14th meet-up to find out more!
http//realestate.meetup.com/1125/calendar/836058
6/
Purchase for 25,000 make approx 450 monthly.
www.rooftopinvestment.com
2
RoofTop Times Vol 7 Pg 2

• What is a wholesale property? Part 2
• Question 2 How much money is needed for
  fix-up and who determined the cost? This question
  is a very important one. Some wholesalers
  provide a rehab cost. If they have done their
  homework fine, but if not you could get stung.
  Make sure the quote is done by a qualified
  contractor and that it is in detail.
• Other items to consider DO they need permits
  and prints? Who will be over seeing the
  construction? Does this person have experience
  and can provide a substantial resume. Make sure
  the quote is firm and how long the rehab will
  take to complete. Also be sure to inspect the
  work before you pay. If they know your are
  watching they are less apt to take short cuts.
• Question 3 How many successful properties
  has the wholesaler actually done him/herself? Be
  sure to do your homework, especially if you are
  working a full time job, and are relying on this
  persons abilities. Always make sure that the
  person your dealing with knows what they are
  talking about. Chances are that if they have
  never completed a successful rehab themselves or
  have only done a few, they may not be qualified
  to advise you or they may be experimenting with
  YOUR money. I have done over 100 homes myself and
  will admit that I still cannot foresee
  everything. I have never sold anything to an
  investor before I had done several myself.
• Question 4 Do they have all the systems set up
  to assist you through completion and beyond?
  Completing construction is just the beginning. Do
  you have an exit strategy? Can this person help
  you sell? Will they help with refinancing, if
  needed? What about property management ? Are
  they going to be there through the whole process,
  or leave after they get their money? Again
  working another job leaves you little time to
  deal with finalizing your property.
• These are all things you must consider before
  moving forward. Please see next months
  newsletter for the conclusion of this story.
• ---- Brett Young, Valley Realty

The RTI Advantage When your ready to buy a
property , contact us and we will provide you
with all products and services you will need.
First. you will be asked how you plan to pay for
the property. If you plan for finance, you will
need an approval letter from your lender to be
submitted with your offer. (Rooftop has a list of
financial centers for you to use). Next, we
will help you choose a property from our large
inventory. Our properties will not only fit your
budget, but will also give you a great income.
Once your selection has been made and your offer
has been excepted, we will assist you in ordering
the inspection. The inspection must then be
reviewed. If repairs are needed, we will assist
you with seller negotiation for financial
assistance, and/ or obtain a quote for the cost
of the fix up. Once the deal is closed, our team
of contractors will then complete the repairs and
we will re-inspect if needed. Just prior to
rehab completion, we will put you in contact with
a qualified property management team to get your
unit occupied. RTI will assist you every step of
the way. We are the only company that sets-up
systems custom tailored for all your investment
needs.
20,000 Purchase Price 500 Cash Flow (approx)
www.RoofTopInvestment.com