layoff notices for wholesale deals??

Question

Would layoff notices be a good source of leads foe wholesaling? Any insight would be greatly appreciated, Thanks.

David Beard · Answer

I was talking to a probate attorney the other day, discussing how quickly it's acceptable to approach or mail out to "grieving family members", and he basically said you'd be shocked how quickly they are ready to sell mama's house, and you will lose out to other investors if you sit around waiting for 90 days out a sense of propriety. Just passing along what he said on that one.

Michael Spencer · Answer

Bandit Signs near unemployment offices would be a start I suppose?

Josh R. · Answer

The HR dept definitely wont give you the names. You would probably have better luck handing out cards at the unemployment office.

Michael Spencer · Answer

Rob K Do you have experience doing this? How long do wait to call the families?

Mark Forest · Answer

I get the "slumlord" label frequently even though my houses are in good condition and the neighborhoods are blue collar. As Rob pointed out anyone can read what we write here and it will only work against us when we enter negotiations if we get reputations as sleazy.

Rob K. · Answer

The reason I piped in on this thread is because the headline caught my eye. I have no problem at all with probate deals or legitimate wholesale deals. The general public already has a negative impression of real estate people and threads like this only make it worse. Do you people realize that anyone can look at these threads and they also turn up on a Google search? Do you think it looks professional to be talking about calling HR people to get the info on people who just lost their jobs so you can prey on them? If we were all lawyers and this were a legal forum, the headline of this thread would be “What is the best way to chase an ambulance?” Since Jerry brought up the other thread, the “steal a deal” was a deal brought to my friend from a wholesaler who had no money and was trying to jack up the price on an apartment building. I probably also should’ve pointed out in that thread that wholesaling in Michigan is usually illegal. If you have a real estate license, all sales (other than your primary residence) need to be handled by a licensed real estate broker. If you’re not licensed, you cannot legally handle more than five real estate deals in a twelve-month period, and you cannot work more than 15 hours per week in real estate activities. (I know that this is different in most states). So, in my state, most unlicensed wholesalers are breaking the law. My moral compass is just fine. I don’t lie, cheat, or swindle anyone. There is no shame in my game. I get calls and emails all the time from wholesalers and their “deals” are almost always WAY over-priced. They are just wasting the seller’s time. One thing I have started doing when I go to purchase someone’s house and we are unable to make a deal is explain to them that I am an “actual cash buyer” and that there are a lot of “fake cash buyers” out there. I let them know that banks ALWAYS require a pre-approval or proof of funds when they make a sale. I tell the seller than even though we couldn’t make a deal, make sure whomever you do make a deal with can provide that information BEFORE you sign anything. This way they can avoid having their property tied up by amateur hustlers. Again Jerry, I mentioned in the other thread that you’re an above board wholesaler. Even though I disagree with just about everything that you say, I don’t think you are a liar, cheater, swindler, or criminal. None of this was directed at you. You’re also right that I should stay out of these types of threads. The headline caught my eye and I’m tired of real estate people being compared to ambulance chasers and used car salesmen. The types of statements here cause the public to think that way of us. I usually ignore your posts, Jerry. I only read this one because you tagged me. In the future, please ignore my posts and I will continue to ignore yours.

Mark Forest · Answer

Hey Rob, better yet just hang out in the Intensive Care floor at the hospital. Get em while they are warm!

Jerry Puckett · Answer

Jokes on you Rob. I'm sure Michael Spencer recognized your sarcasm as we all did. He answered the way he did facetiously to point out how silly you can be. The fact is, here you are in yet another wholesaling thread, not helping, just throwing muck, wasting our time and yours. You're the same guy who would (admittedly) steal a deal from someone else, so please spare me the superior ethics routine. And the sarcasm....it is wasted here.

Michael Spencer · Answer

Oh I read that wrong, I thought you said as long as your NOT kicking people while they're down. It seems as if you are against targeting probates, why is at? I think it's acceptable as long as you explain what you do and don't be insensitive.

Rob K. · Answer

Why wait so long? Why not hang out at cemetaries in the morning and wait for a funeral service. The person in the coffin probably had a home that needs to be sold. You could interupt the service and state that you have some important information. You could then ask for the executor to raise his hand. Hand him a business card and schedule an appointment for that afternoon sometime after the luncheon. The early bird gets the worm!