Jake REI

@jkostecki_rei

Wholesaling and fix & flipping real estate I help wholesalers do their first deal Click on website link for free 120-page ebook on wholesaling RE

Denver, CO
Joined February 2020

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  1. Pinned Tweet
    Mar 26

    The time to wholesale is now Tremendous opportunities Yes, it's 3x more complex than 2 weeks ago Themes: • Buyers want STEEP discounts • sellers are MOTIVATED • Owner financing • Subject-to • Notes • Short sales/REO coming soon If you need a consult or a mentor call out

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  2. 18 minutes ago

    If I did a solid overview of the basic software tools we use to wholesale with the pros and cons of each would that be useful to you as a wholesaler?

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  3. Retweeted

    0% is the amount of rents that we missed today. The reason why is we built a business based on section 8. If you have questions about section 8 hop on our virtual meetup at today @ 7PST and we’ll do our best to answer. Link

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  4. Retweeted
    9 hours ago

    How come us wholesalers are able to put houses under contract at prices radically below future ARV? In many cases bc property owners deferred tough decisions way beyond the necessary deadlines Make sure you continue making the tough decisions in your business in a timely manner

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  5. Retweeted
    17 hours ago

    Almost all beginning wholesalers struggle w/properly estimating rehab costs While we often work with contractors to get those numbers, at the end of the day it's our responsibility to get them right This book is one of the best guides out there Get good at this

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  6. 4 hours ago

    If you're trying to understand the real estate markets in late 2020 and through 2021 and beyond read about the effects of structural long-term unemployment on the economy, on health, on gov policy, etc. Things like this + books:

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  7. 4 hours ago

    I signed up 7 new mentees over the past month and have conducted several dozen consult calls As incumbents peel off from REI, many new ones are starting to invest - especially if they don't currently have any carry in RE Fortunes will be made in these tumultuous times

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  8. 4 hours ago

    Hahaha but yeah, exactly. Stop modeling your business projections for Q3 & Q4 on the Chinese Propaganda Department, excuse me, the formal name is Publicity Department of the Chinese Communist Party.

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  9. 5 hours ago

    Is anyone assigning to flippers right now?

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  10. 6 hours ago

    I am much more concerned w/ the coronavirus situation in winter 2020/21 than I am with Coronavirus 2019/2020 That's already spoken for We know the outcomes for lives, heath, the market, jobs, etc. The situation in 2020/2021 is what's unknown & that uncertainty is haunting us

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  11. 6 hours ago

    I'm going to cosign this hard. 30% unemployment Foreclosures Reposessions Spike in mental health hospitalizations Spike in suicide Mass homelessness ..for years Also... the single biggest wealth creation opportunity in our lifetimes Life isn't binary.

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  12. 6 hours ago

    3 weeks ago I started saying: "I grew up under Communism. Communists lie" Important if you're making US business decisions based on the "fact" that China "tamed the crisis" They are now dealing with the second wave of infections and reinfecting a lot of the population

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  13. 7 hours ago

    Depending on the rentals, the target market, how you bought, how you're leveraged, etc. FOR SURE - if you've got a lot of equity, are in a market that will attract renters in a recession, etc. But for many it made sense to go to cash to buy in 12 months on great terms

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  14. 7 hours ago

    No one in RE predicted Covid-19 in July 2019 but many landlords sold their rentals seeing a recession coming signs were there That's over & done with, but you can look towards the next 36 months What signs can you see today that will let you position yourself for future wins?

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  15. 8 hours ago

    This 👇👇👇👇👇 + your cost structure is going to be lean and mean

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  16. 8 hours ago

    Besides managing rapidly changing ARVs stay on top of rehab estimates contractors will slash prices in many markets but as contractors deteriorate in the recession those rates will spike as we come out the other end + international markets/FX wreak havoc w/cost of materials

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  17. 8 hours ago
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  18. 9 hours ago

    Wholesaling is a business model It's not the core function The function is the acquisition of off-market properties at below-market rates This skill is used in all types of RE business models BRRRR, flipping, Airbnb, etc. Learn this skill Money in REI is made at the buy

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  19. Retweeted
    9 hours ago

    Mortgage fraud is def a federal offense. Any govt backed loan is subject to inspection/audits etc...its not even close to being worth it when you can rent out other ilunits and love free for a year

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  20. 9 hours ago

    How much $ you have available to you today is much less important than how much exposure to risk you are carrying It's much easier to go from $0 to $100k than from $500k to $600k even if you're not exposed to all of this insane risk out there You can make BIG moves from $0

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  21. Retweeted
    17 hours ago

    If you are REALLY seriously wholesaling today putting houses under contract at 55%-70% ARV less rehab+fee in this climate the dynamic is: your offer or foreclosure If they have other options they're not motivated enough (there are exceptions, sure) But it's us or foreclosure

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