All Forum Posts by: Aaron Mazzrillo

I just think of Beanie Babies whenever I hear Bitcoin. 

I love how a bunch of guys with zero experience are saying how awesome these guru videos are. LOL

Wholesaling is all about deal flow. Get LOTS of leads, make lots of offers close a few deals. I don't know your market but here, it is maybe $100-150 lead cost. 15-20 leads to get a deal. So, you want to buy a house, you need to consider spending $2,500 or so per deal. Wholesale fees more or less average out to around $15K per deal. That is average. So, you want to make $100K, you need to close 6-8 deals which is going to cost you around $20K give or take a few grand. The better you get at marketing and closing, the better your numbers will be... but not always. Sometimes the market just messes with you.

I'm just shooting from the hip though. Those numbers are not set in stone and change every year, but over a 10+ year career, they probably are not far off the mark. I had one year where I made $18 for every $1 I spent on marketing. Didn't happen this year though. So again, the law of averages always puts things back in order. The more niche your list, the better your numbers should be. A super niche list with potentially highly motivated sellers can make you an incredible amount of money. And no, I'm not talking about absentee owners or foreclosures. Those are generic and dozens of people mail them they same crappy post cards and letters over and over again.

Your market is different. Your numbers will be different. But, probably not by much. Unless those videos didn't teach you a thing about being a closer. Getting the phone to ring is easy. Picking it up and buying a house for 50% of what the person on the other end paid for it just 5 years ago, that takes skill. That is a rare deal, but I closed that one just a few weeks ago.

Here is the best advice I can give you. Write it down and put it above your desk where you intend to work on your offers;

"Have no expectations." 

You don't know what the other person will do and you can never imagine what they will accept. I did buy a house for 50% of what someone paid for it just 5 years ago. I also got a guy to sell me a duplex and 2 houses for $1,000/month with no interest. Why did he do it? Not my mission to figure that out. He just did because I was the one making those offers.

Anyone doing it? Having any success? I don't have a FB account so I'm curious if anyone is seeing ads from property buyers as well?

 I've never been much of a fan of the auctions personally. I don't like competing with other investors to buy property. My focus is direct from seller without an agent involved. 

I like this little private member's jacket only area, but even more private "invite only" areas would be awesome. Do they exist? For example, maybe I'd like to have a forum where I could invite heavy hitter wholesalers to discuss niche lists, marketing strategies, etc., but don't want every eyeball out there having access. I certainly don't want to give away some of my unique and proprietary marketing lists, providers, or niches to every other investor in my immediate market, but would happily trade that info with say, wholesalers in Arizona, Nevada, Florida, etc. 

It would be a way for BP members to stay on BP and create amazing connections instead of moving over to that other "unhappiest place on the web" FB, where they do have private groups.

It is absurd. I could never imagine paying that much for a house. 70%? What is this, amateur night at an REO auction full of shill bidders?

Real estate, unlike hunting, is not a game specific endeavor. If you only look for sub2 and seller financing opportunities, you'll walk right past all kinds of other delicious opportunities you could have pulled the trigger on. 

Find a deal, if it can be purchased sub2 or with seller financing, then make that offer, but have 1 or 2 other options in case that initial strategy doesn't work out. I buy a few houses a year and in my market, seller financing is a rare animal, sub2 even rarer. I recently closed a great seller financed deal though. Condition of the property, lack of management skill and desperation on the owner's part, along with knowledge and confidence on mine were what put that deal together. It doesn't just show up as a seller financing opportunity and my first offer was actually cash.

Those most outspoken about something more often than not are the ones participating in the act. Whatever it is your afraid will happen, maybe you ought to check yourself first.

In my opinion, this topic should be deleted. Insisting that young adults are not allowed to learn and participate in a mature discussion? Ludicrous. 

Teach your own kids how to grow cotton and sew their own clothes, but let other parents do as they please when it comes to their kid's education. My daughter is 2 years old and she's been on more rehab projects than probably most people on this site have done. She knows our contractor by first name. When she is old enough to read and type, if she wants an account on BP, I'm all for it.

I recommend hiring a contractor with a good table saw. Not much money being made operating one of those finger stealing machines.

 I've been in the mobile home industry for many years and I don't know one person/company doing development. Maybe you know something they all don't. You just might be the next Elon Musk of mobile home communities... but I doubt it. 

I do wish you luck on your endeavors, but please update me with the address of any property you start development on. I'd like to be 1st in line for 2nd ownership.