Sharita Hyppolite on Wholesaling, Fix & Flips, and Finding Good Real Estate Deals
Show summary
In this episode, Sharita Hyppolite shares her expertise in real estate investing, focusing on deal structuring, raising capital, wholesaling, working with contractors, and evaluating rehab costs. She offers practical advice for both beginners and experienced investors looking to build long-term wealth in the New Jersey market.
Key takeaways
- New investors without capital should start with bird dogging or wholesaling to build funds before using hard money lenders, which typically cover about 90% of purchase price and 100% of rehab, leaving roughly 10-20% of the deal for the investor to fund.
- Sharita discourages brand-new investors from attempting seller financing deals, calling it 'the blind leading the blind' without more experience.
- Acquisitions and dispositions require different skill sets; if you don't have an in-house dispositions team, outsource or partner with others who have buyer lists rather than trying to handle both.
- Daisy-chaining deals isn't inherently bad as long as everyone involved is honest about their role and the numbers work for the end buyer; it becomes a problem only when someone misrepresents themselves as the owner.
- For underwriting rehab costs, Sharita uses a version of the MAO strategy: take 70-75% of ARV, compare it to the asking price to see the margin, then visually assess whether the property needs a full gut job (framed to the studs) or lighter cosmetic work like kitchens and baths (roughly $30-40k for a higher-end finish).
- When managing contractors, set realistic expectations around their communication style (they may not use email or answer calls during work hours), and help them professionalize with tools like a free Google email account or a spreadsheet instead of handwritten notes.
- Experience changes contractor management: a known, trusted contractor may not need oversight, while an unfamiliar referred contractor may need to be closely 'babysat' to avoid distractions and delays.
In this episode
- 02:06Introducing Sharita Hyppolite and Hyppe Business Solutions
- 02:36What a typical investor consultation looks like
- 03:45Helping investors who lack capital
- 05:07Wholesaling opportunity in North vs South Jersey
- 07:12Getting distressed sellers under contract the right way
- 09:50Dispositions: partnering instead of going it alone
- 13:40Working with contractors on fix and flips
- 17:05A simple formula for underwriting rehab costs (MAO strategy)
- 19:23Current projects and how to reach Sharita
About A Good Deal
Sharita Hyppolite is a South Jersey real estate consultant and founder of Hyppe Business Solutions. She has over a decade in the business with hands-on experience in wholesaling, acquisitions, contractor management, and fix-and-flip projects in North and South Jersey. She currently has an active project in Paulsboro, New Jersey, is looking at opportunities in Camden, and is writing a book called 'Passion to Profit.'
Listen to the audio
“A good deal will sell itself.”
Sharita Hyppolite
“If you're signing a contract as a wholesaler and acquisitions, and the deal is not a good deal but you're just signing it anyway because you just want to be excited because you're signing a contract... you're not going to be able to move that contract.”
Sharita Hyppolite
“By the time you get to the title company, by the time you get to like, you know, what's going on, the rubber meets the road, the truth is gonna come out.”
Sharita Hyppolite
Questions answered in this episode
How can a new investor get into real estate without much capital?
Sharita Hyppolite suggests starting with bird dogging or wholesaling to build up capital before attempting bigger deals. She generally discourages brand-new investors from jumping into seller financing because it can become 'the blind leading the blind.' Once they have some funds, she says they can partner with an experienced person and use a reputable hard money lender, which often funds around 90% of the purchase and 100% of the rehab, leaving the investor needing roughly 10-20% of the deal.
Should acquisitions and dispositions be handled by the same person?
No, according to Sharita they are separate skill sets requiring different conversations and reach. If a wholesaler or acquisitions person doesn't have an in-house dispositions team, she recommends outsourcing or partnering with others who have buyer lists, rather than trying to do it all alone.
Is daisy-chaining wholesale deals a problem?
Sharita and the host agree that daisy chains themselves aren't the issue as long as everyone is honest about their position in the deal and the numbers work for the end buyer. The real problem is when someone misrepresents themselves as the property owner without transparency; a true JV where parties disclose their role is a win-win, especially for newer wholesalers partnering with bigger dispositions operations.
What's a simple way to estimate rehab costs and max offer on a flip?
Sharita uses a version of the MAO (maximum allowable offer) strategy: take the ARV, calculate 70-75% of it, then compare that to the asking price to see how much room exists for rehab and profit. She then does a visual walkthrough to judge whether it's a light cosmetic job (kitchens and baths, maybe $30-40k) or a full gut job down to the studs, rather than building a detailed line-item scope of work upfront.
How should investors manage relationships with contractors?
Sharita says investors need to understand that good contractors often aren't great with email, paperwork, or picking up calls during work hours, so expectations should match their working style. She builds trust by helping contractors professionalize, like setting up a free Google email account tied to their phone or using a spreadsheet instead of handwritten notes, and treats them as individuals rather than talking down to them. She notes that contractors she's known for years don't need to be 'babysat,' while unknown or newly referred contractors required much closer oversight on past flips.
Resources and links
Full transcript
Sharita Hyppolite (00:00)
You know, you want to be honest with yourself. You want to be honest with your client, your seller. ⁓ And then when they see they have something that’s really, you know, tangible, then you can have a little confidence in that deal. And I think that’s where it starts at. It starts with, is this actually a good deal? Is this actually, think about it. If you’re signing a contract as a wholesaler and acquisitions,
and the deal is not a good deal but you’re just signing it anyway because you just want to be excited because you’re signing a contract and you’re getting somebody you’re not going to be able to move that contract
Dylan Silver (02:06)
Hey folks, welcome back to the show. Today we’re joined by Sharita Hyppolite a South Jersey real estate consultant and founder of Hyppe Business Solutions. Sharita brings hands-on experience working directly with contractors, acquisitions, and flipping, giving her a real operator’s perspective on how deals actually get done. Today she helps buyers and investors think strategically, evaluate opportunities, and execute with confidence, focusing on structure, design making, and long-term wealth. Welcome to the show, Sharita.
Sharita Hyppolite (02:34)
Glad to be here.
Dylan Silver (02:36)
Now, when we talk about consulting investors, there’s so many different deal types, acquisitions, structures. What’s a typical deal look like for you and the consultation involved?
Sharita Hyppolite (02:50)
Sure, ⁓ Talking with an investor, I’ll have an initial consultation with them, ⁓ asking them what their goals are, what they’re looking to do, ⁓ definitely finding out what type of experience they have so I can speak person to person and not preach to the choir, so to speak. ⁓ And then really just break down a strategy that I believe will work for them, ⁓ short term, long term.
⁓ And then, you know, try to fill up any voids that they are missing, whether it’s inventory, whether it’s a funding issue. If it’s a knowledge issue, I’ll assist with that because sometimes I’ll get people with the money, but they don’t know what they’re doing or get people who know what they’re doing and they don’t have the money. So really just trying to get an overarching understanding of the situation.
Dylan Silver (03:45)
How can you help someone who’s got an idea of where to go but they don’t have the capital? How do you help them there?
Sharita Hyppolite (03:50)
⁓ that’s easy. One thing that most listeners would know if they’re on YouTube is that there’s plenty of different strategies to do if you don’t have any money. First and foremost, I would try to strategize with them to try to find different ways of raising capital. And really, you don’t have to really raise much. And this is, my own personal belief. If they’re new, I don’t
encourage them to do kind of like the seller financing because it’s it ends up being like the blind leading the blind type of situation. ⁓ I really would tell them like hey maybe you should look into maybe bird dogging or ⁓ wholesaling to really kind of build up and raise up some capital so that when you do have a little bit of funds then you could get into you can partner with someone such as myself to do your first deal with a reputable
hard money company who, you know, lot of hard money firms, they have like a 90, 100 type of situation where they’ll fund 90 % of the transaction and then they’ll fund 100 % of the rehab. So you’re really talking about, you know, 10, 20 % that you would need. And then, you know, we’ll talk about numbers and then we’ll just work on a plan like that.
Dylan Silver (05:07)
I think wholesaling in New Jersey is really, I don’t want to say untapped goldmine, because of course there’s so many people out there, but oftentimes when you think about wholesaling, single family investing, distressed properties, people are looking at areas where the acquisition cost may be lower, but New Jersey has so much demand for, know, infill lots, for ⁓ properties that can be value at rehab.
even land, right, that a good wholesaler is going to be making probably triple in assignment fees than they would in some other areas.
Sharita Hyppolite (05:38)
Mm-hmm.
absolutely, absolutely. And it’s funny because I’ve done wholesaling North and South Jersey and it’s kind of two different worlds. recently I just did something down here in South Jersey and I kind of had, I’m not trying to say school them, but you know, being that I’ve had, you know, over a decade in the business, I had to kind of tell them like, I know you have a system going on, but you need to simplify it a little bit. ⁓ And so it’s such a
it’s untapped that you have these companies that have really just taken over. there is room for the little guy, I really do believe there is, in New Jersey. So that’s an interesting take on that, you’re absolutely right.
Dylan Silver (07:12)
Now, for wholesaling specifically, there’s sometimes this hurdle that happens where people are getting into the business, they’ll be making contact with a distressed seller or someone who needs to sell for cash, and then they can’t get to the next step, whether that’s putting them under a contract or they don’t have the contract. I remember when I was first starting out, these contracts, the wholesale contracts were like the holy grail, like,
What kind of paper do you have? Where is your contract? Right. And then I realized that most of this is just publicly available. You kind of have to read through it. And I also thought that everyone really knew exactly like on a granular level, each line in the contract, what everything was going on. I now kind of think that there’s certainly a lot of wholesalers who get the property under contract, hand it to the title company, and then they’re just hoping and praying that everything, you know,
stays together because in reality, it’s tricky even after you’ve done, you know, I’ve done 20 plus deals as a wholesaler, it’s still tricky. And so I think for newer people when they’re just getting started out, it can be challenging to keep moving a deal along, very challenging.
Sharita Hyppolite (08:14)
Yeah.
Absolutely, absolutely. think what helps, I think timing is important, right? ⁓ I always tell my people that, and this is just my personal, because there’s a lot of wholesalers that do things differently. They’ll, in retail, they’ll do this too. They’ll just get any type of deal under contract or get them to sign, right? Who cares about the price or whatever? I don’t think that that’s healthy. I think…
You know, you want to be honest with yourself. You want to be honest with your client, your seller. ⁓ And then when they see they have something that’s really, you know, tangible, then you can have a little confidence in that deal. And I think that’s where it starts at. It starts with, is this actually a good deal? Is this actually, think about it. If you’re signing a contract as a wholesaler and acquisitions,
and the deal is not a good deal but you’re just signing it anyway because you just want to be excited because you’re signing a contract and you’re getting somebody you’re not going to be able to move that contract
you’re not going to be able to move that and I think it just starts with just in the beginning just being honest and really knowing the numbers honesty is key I hate to say it you get a lot of liars out there and the lie and tell these people I can definitely sell your house for a million dollars sure
And they waste these people’s time, they waste a lot of other people’s time, and it falls apart. And a good deal will sell itself.
Dylan Silver (09:50)
Now, when someone does get a good deal under contract, especially if they’re inexperienced, or even if they’ve got some experience, but don’t have a full dispositions team and log behind them to find an investor for these deals, it can still be challenging. I’ve certainly experienced this, right? And for someone who maybe gets their first property under contract, you know, and it could be a good deal. How can they best position themselves?
Sharita Hyppolite (09:51)
Yeah.
Absolutely. Absolutely.
Dylan Silver (10:17)
to disposition that property to an investor.
Sharita Hyppolite (10:17)
Great question.
Great, great question. ⁓ I think, you know, in my experience, I personally believe that acquisitions and dispositions are separate entities. They take separate skill sets, separate conversations. ⁓ And honestly, I think an acquisitions team needs, if they don’t have an in-house disposition team, they need to outsource it with other partners. Because…
It is a skill set that requires different conversations. It requires reach. I have partners on both ends. have, you know, I’m more of a like a middleman when it comes to wholesaling because I don’t really have time to do acquisitions even though I know how to do it and I’ve had my own team. I am disposers. I do sell the deals.
But I also have people out there who have a long list of buyers. I have a list of buyers, but I also have other people who have lists of And I’m not shy to say, let’s work together. Let’s work together. I go crazy when I see stuff that says no daisy chain, no daisy chain. Well, you know what? If the numbers work, OK, and if we and two people come together and we agree upon a number and the buyer is willing to pay it and we meet the seller’s request, why not?
Why not? And I really…
Dylan Silver (12:07)
Yeah, and
that’s a good point. I think the daisy chain thing too, my understanding when people are very opposed to daisy chain, it’s because they don’t want to be buying a property that someone is representing as if they own it without an assignment. I think people want to be transparent. So I mean, if I’m a small wholesaler, and this is one of my first deals, and I go to a big box dispositions company with a huge presence, and I say, hey,
Do you want a JV on this deal with me? Help me sell it, right? ⁓ I’m not going to them saying, hey, I have this property that I’m selling, like presenting myself as the owner, so to speak. I think that that’s where people start to feel like they don’t want to be in a part of a daisy chain. But the JV thing, to your earlier point, if you can partner with someone who has a huge reach and has, you know, literally thousands of buyers and transactions as well, I mean, to me, that’s a win-win, especially if you’re starting out.
Sharita Hyppolite (12:46)
Exactly.
It’s a
Huge, huge, huge. And I think at the end of the day, as long as the numbers work, as long as the buyer is willing to pay it, that’s all that matters. And just to touch on a point we made earlier about just honesty, just be honest. Where are you in the position? What is the situation like? Because at the end of the day, it’s always going to shake out. By the time you get to the title company, by the time you get to like, you know, what’s going on, the rubber meets the road.
the truth is gonna come out. And ⁓ I just think that in my experience, it’s just been so much better to just be honest. And that’s really what it comes down to.
Dylan Silver (13:40)
Now pivoting here, Sharita, if we look at the fix and flip space or fix and rent out, rehab and hold, working with contractors can be a huge bottleneck for people. And we were talking about this in the green room, right? It’s tricky because you can acquire a property right at the right price, but then have dealings with contractors go south. And then that can just change the trajectory of the whole deal. What’s the…
most important thing that you’ve learned about working with contractors.
Sharita Hyppolite (14:52)
Sure, know, I, contractors, they have a soft spot with me ⁓ because they kind of remind me, I, my background, my family’s background is actually musicians and it reminds me of musicians, right? They’re just a different type of person. ⁓ And it’s the same with a good contractor. They’re probably not going to have an email account. They probably, you know, are not good with paperwork. ⁓ They probably not going to pick up in the middle of the day because
you know, they’re inside working and they’re, you know, so I think at the beginning, the expectations have to be right. You can’t expect them to operate the same way that you operate. Just, just, just understand the mindset of a contractor. But on the flip side, I think it’s essential that as professional real estate people, that we assist our brother and contractors with being the best professional people that they can possibly be. So building that relationship and helping them.
with their business and just work expectations. I think that’s key. some of my contractors are really some of the closest people to me because I treat them as individuals and they trust me so that when I give them advice, they’ll listen. Like, hey, listen, you can get a Google email account for free. And you can tie it to your phone. So it’s not as complicated as you think.
Why don’t you get a spreadsheet? Because your handwritten notes are a little bit hard to read, you know, those type of things. And then, you know, working with them and not talking down to them. So again, it’s about relationships, building those relationships. And I think lastly, and I’ll make this point, understanding how they operate. ⁓ I currently have a contract around now where I don’t have to babysit him. ⁓ I’ve known him for years, family, friend, and I trust him.
⁓ My last, I think like two flips ago, I had to babysit that guy. I really didn’t know him. He was referred to me. ⁓ And I really had to babysit him because he got distracted a lot. And you just have to know that you’re working with and be able to pivot. And I think that’s essential with working with contractors.
Dylan Silver (16:58)
Yeah.
Dylan Silver (17:05)
for folks right now, know, scope of work, especially for newer investors, can be challenging. And there’s lots of different ways where people can underwrite these deals and determine how much rehab goes into it. Do you have a formula that you use in South Jersey, let’s say?
to underrate deals.
Sharita Hyppolite (17:25)
Sure, sure. I like to keep it simple. I like to keep it simple, not even just because dealing with individuals that may not have as much experience, but just for my own sanity. ⁓ I use the maximum of the MAO strategy, which is basically to calculate it ⁓ kind of backwards off of the ARV. ⁓ And one of the really things, because I’m really into BRR right now. ⁓
Dylan Silver (17:53)
Yeah.
Sharita Hyppolite (17:54)
What I do is I’ll take the ARV and I’ll take 70 % of that, right? 75, 70, 75. ⁓ And then I’ll look at the ⁓ price that they’re selling it for compared to that 75%. Then I see how much room is in the middle. ⁓ And then I’ll look at the house and I’ll just take an eyeball look. And because I’ve done so many projects,
You can tell the difference between a 30,000 job, 60,000 full gut job, right? You can tell it right off the bat. And I’ll just take an eyeball guess. Like if it’s up to the studs, that’s a full gut, right? It’s not rocket science. And I always tell these guys all the time, like, what do I need to, if it’s on stud, like if it’s actually framed, I don’t need to go in there and act like a, you know.
Dylan Silver (18:23)
Yeah.
Sharita Hyppolite (18:45)
what’s going on and look, you know, you want to see your systems, of course, to see if they’re in there, because that’s an added cost. But if you see that it’s just like kitchens and baths, you know, you’re talking about depending on who your contractor is, you know, 30, 40,000 maybe, if you are looking for a higher end. But if you’re looking to have a rental, maybe cheaper, because that’s kind of cosmetic. You’re trying to, you know, modernize your bathrooms.
So then once you have like that rough number, you don’t have actual scope of work, you didn’t go line by line yet, you’re just talking about hypotheticals. You can visualize whether that’s a good deal.
Dylan Silver (19:23)
Yeah,
you can. You have an idea there. And like you mentioned, once you’ve done a handful of these, you have a better idea. Hey, is this going to be something that’s pushing that kind of roof to studs flip very intensive? You know, there might be some things behind these walls or underneath this floor that we don’t know about. Or is this going to be something more cosmetic? And that’s where partnering potentially with someone experienced like yourself comes in handy because
If this is my first flip or even my first couple of flips, I might want to hedge against the possibility of something being drastically different than expected by partnering with someone like yourself. We are coming up on time here, Sharita. Any new projects that you’re working on and then as well, what’s the best way for folks to get in contact?
Sharita Hyppolite (20:02)
Absolutely.
Sure, ⁓ currently, I have a couple things that are happening, which is really exciting. Currently doing a couple of my own projects. I have a deal in Paulsboro, New Jersey, which is a town that has a lot of inventory. ⁓ And I like getting on the ground into these towns that nobody really has touched. ⁓ I’m looking, Camden’s pretty hot, ⁓ but I do have a lot of ties to that community. So I’m looking into there.
⁓ I’m currently working on a book, Passion to Profit, so helping people understand what their passions are and trying to capitalize on them. That’s a great way to kind of build capital for some of these projects that you may envision. ⁓ And then the best way to get a hold of me currently right now, because I’m still kind of rebuilding things, is my Instagram. My Instagram, and I’ll send it to you, Dylan, so that you can maybe put it in the show notes. ⁓
My Instagram currently has my contact information and my link tree will be reactivated to, you can see all of my information there. So really exciting times.
Dylan Silver (21:19)
Sharita, thank you so much for joining us today. Thanks for your time.
