Below is a list of frequently asked questions…
How do I evaluate a property?
Make sure that you know what investment strategy you are going to use before you start.
- Determine the repair costs.
- Determine the ARV based on comps, cost approach, or income approach depending on asset class.
- Determine if this property will meet your investing goals (buy/fix /sell, buy/fix/rent, or your own, unique investment strategy).
- Determine expected days on the market based on comps and market conditions.
- Evaluate the potential risk. Are there any unusual circumstances that may prevent the sale of this house for its estimated worth, or renting it quickly at the appropriate price? Once you have all this information, you can make an informed decision regarding whether or not to purchase the property.
Join us at our Buy or Bye Workshop were we will discuss how to breakdown deals. Register Free Here
How long does it take to get a property leased from purchase, on average?
After a property is move-in ready, the market, rental rate, and your specific requirements will determine the time it takes to find a tenant.
How long does the average buy - fix - sell take?
90 to 180 days to resell from the time of purchase. This all depends on how long it takes to do the work on the property and the marketplace conditions at the time of offering the property for sale.
However, our multifamily and commercial deals can take six months or longer to complete the process. There are numerous factors that can determine the length of time it takes to complete a real estate project.
When repairing and reselling a property, it is important to allow extra time for delays in case the process goes on a longer than expected.
Can I do my own inspections?
Yes! Investor Deals recommends that you do. Before you sign an assignment, you should have evaluated the property for all repairs. Once under assignment you can hire a professional inspector to assist you in assessing the property and complete all of your own due diligence. Properties are bought as is where is. There is not an option period and you will not be released for the contract because of repairs. Remember time is of the essence!
How do I buy a property from Investor Deals?
Connect with us and let Investor Deals know you are interested. We will be able to answer any of your questions and walk you through the process, from there we will send you a contract to be electronically signed via email. Once under contract you will be able to do your due diligence and determine if the property will work for your particular investment needs.
Why can’t I just find discounted properties myself and cut out the middleman?
Simply put you can, better put why would you. Wholesaling properties is a fulltime job and getting to the deals takes serious effort, time, and money.
Most true investors realize over time that trying to do to many things can lead to their demise, so they delegate. Successful real estate investors don’t have enough time to make finding the deals economical or practical; it’s a lot like hiring an assistant, you could do the work yourself but due to time and the fact that you have higher paying items on your to do list, you hire an assistant. Think of Investor Deals as one of your personal independent contractors out in the market place finding deals for you.
How do I know buying a specific wholesale property is a good “deal” or not?
While we always try to be fair and honest in our real estate dealings the best advice Investor Deals can give you is to educate yourself. Knowing if a property is a good deal or not is something you must judge for yourself. There are tons of free classes and education opportunities out there including our Landlord Investor Network and Cathy’s Classes. You can check out our next upcoming event HERE.
If you are just starting out on your investment journey connect with us, we are always happy to chat and will let you know of the most current opportunities to learn more.
The basic formula we use is: ARV x 70% – Repairs – Acquisition Closing Costs = MAO
Can you use traditional bank financing to purchase a wholesale property?
No. Banks are often unreliable and can take more than 30 days to close, and transactions for wholesale properties require a closing time that is much faster than that.
Banks often require contingencies that the property is repaired before they will do a loan; this is not possible for wholesale properties since they usually need rehab.
Do you manage the properties for clients?
We provide superior property management services to property owners DFW and the North Texas region. All Star Property Management
Can you help with financing my investment property?
We work with a solid team of lenders. Of course, you are free to use any lender you choose. A list of our lenders is at http://cathyswebsites.com/lenders/
Do you provide funds for a double close?
Yes, we provide funds for one day A To B, B To C, transactions.
What makes Investor Deals unique?
We are one of a small number of investment property providers that survived the 2008 housing market crash.
We do extensive research on the DFW and Northern Texas markets.
We have a combined 91 years of experience in real estate and Cathy Crowe our founder has been in business for 38 years.
We provide our investors with unbiased counseling and advise.
We were founded by a full-time real estate investor, so we think like investors.
We offer opportunities for you to meet us in person with no obligation. See our upcoming events to the right or find out more under our “events” tab.
We have a Kind-Truth policy, which means we won’t give you any BS or Fluff. We’ll tell you how it is with a smile.
Who are you?
Investor Deals is a Cathy Crowe company. Cathy has been in the real estate business for 40 years serving the greater Dallas Fort Worth area and she is considered one of the original wholesalers in the country.
Investor Deals is an real estate wholesaling investment firm and strives to provide profitable investment properties to real estate investors.
To find out more about our team go to our About Us page.
What are wholesale properties?
Wholesale properties are often distressed properties, with either a physical condition or ownership discomfort. You usually find these properties off market and not typically on the MLS.
What is a distressed property?
A distressed property is typically sold under fair market value. Most distressed properties need some type of repair but might also need to be sold fast due to the seller facing a situation such as a foreclosure or a divorce, and they are willing to accept a discount.
Traditional financing is typically a bad fit for distressed sales due to the speed at which the seller is interested in selling and the condition of the property.
What if I don’t know how or where to get the repairs done?
A trustworthy contractor is an excellent resource because they can accompany you to the property, inform you of the needed work to be done, and provide a general estimate of the cost. However, it is important that you also have a slew of backup general contractors in your network in case one stops performing to your standards.
We also advise that you start attending networking events and ask other real estate investors for their recommendations. Contractors
How much of a discount can be expected when purchasing a wholesale property?
Investor Deals understands that the investment property market often fluctuates, we strive to provide the best possible discount at the time.
Our goal is to provide properties at a price point that our clients will be financially successful. The discounts that we offer are dependent on the property, location, and the current market but can range anywhere from 10% to 50%.
Why can’t you negotiate the price on a wholesale property?
We offer good deals and prices from the beginning. Investor Deals has over 91 years of combined experience in real estate. When we put a property under contract, we negotiate for the lowest feasible price upfront, meaning there isn’t any room for negotiation.
Our set-price model means you to avoid wasting countless hours visiting houses and writing contracts that will never get accepted at your asking price in a competitive market.
Our fees are non-negotiable. Our compensation is set in accordance to the amount of work and effort that was used to obtain the opportunity for you.
How are the properties on InvestorDeals.com different from properties on the MLS?
Most properties you’ll find on InvestorDeals.com are ones that the average real estate agent would not list – fixer uppers, occupied rental properties, and other distressed properties. While our properties are often listed on MLS, especially the multi family properties, we also offer properties we are wholesaling or that we own.
How do I make an offer on a property?
Simple, head over to our “Contact” page and email us. You can also check out our step by step guide on “How We Work” page. We take offers first come first serve… Let us know that you are ready to commit, and we will prepare the assignment of contract for you to sign digitally.
Or send your offer to [email protected]
Do you charge any fees to buy or sell a home?
We don’t charge property owners any fees to help them find a solution. We purchase properties at a win-win price. You buy an investment property from Investor Deals, we buy the property at a steep discount, add on our property acquisition fee which is our profit for finding and negotiating the deal… and you still pay a deeply discounted price. A win-win for all.
