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All Forum Posts by: Alex T.

Alex T. has started 17 posts and replied 57 times.

Post: Got First return call from Cold Calling - 1st DEAL

Alex T.Posted
  • Flipper/Rehabber
  • Houston, TX
  • Posts 67
  • Votes 30

@Cleon Wilson It's always good experience until you don't have time to constantly go back and forth to certain sellers' properties that aren't as motivated. I always try to get the overall general condition prior to the appointment and give them a ballpark range just so we both don't waste each other's times. They always respect & prefer that approach, from what I've seen.

Post: How Long Did It Take To Acquire First Property & How?

Alex T.Posted
  • Flipper/Rehabber
  • Houston, TX
  • Posts 67
  • Votes 30

I've been wholesaling for a solid year now. Learned a lot, and lost a lot of money in the process. I'm still trying to build up reserves for acquiring my first property, whether it's a fix and flip, or a buy-and-hold (taking the owner financing route as the lender). I genuinely feel like I could be using private money to increase my marketing, but is tough to find a private money lender who will structure a long 8-12 month marketing finance deal to increase reserves. I could be digging myself into a deeper hole....

All the people I meet at networking events want to work together by being my cash buyer since I'm already partnering with 50% wholesale fees (me being in the acquisition and my partner to find the buyers and close). This really doesn't help out my progress much when they're only wanting to be cash buyers.

I know I can use private money once acquired. The only issue is the time that it takes to build up the reserves. Not even sure exactly how much reserves I would need other than enough for a down payment (35-40K). I've already been reducing my personal monthly expenses.

My question is, how long did it take you to acquire your first property and how did you do it? I'm definitely going to be using the BRRRR strategy as well. I still feel like I'm lost. All opinions are welcome

Post: Does driving for dollars work?

Alex T.Posted
  • Flipper/Rehabber
  • Houston, TX
  • Posts 67
  • Votes 30

I recommend anyone driving for dollars to make it a part time job since real estate is a numbers game. What I mean by that is make it a habit to drive a few hours a day in a zip code or area that you're wanting to focus in and keep doing it regardless of your results until you've cleaned out the city (basically)

Post: Outsourcing Driving for Dollars

Alex T.Posted
  • Flipper/Rehabber
  • Houston, TX
  • Posts 67
  • Votes 30

Outsourcing DFD is really up to you. I would never outsource DFD because of how much of a perfectionist I am. What I mean is that I would go through EVERY SINGLE house in the zip code & dead end areas where most people doing DFD might not go. I have also just finished DFD with an average of 20 hours per week for the past 3.5 months (Aug 13th). I made it my part time job. Hence how I have time to be here on BiggerPockets to contribute.

At the same time, your eyes distinguishing the not so obvious distress condition on the property like overflow in a mailbox, broken window, bent garage doors, tarp over car, talking with neighbors etc would require someone very devoted seeing, like I said, EVERY SINGLE property that way.

If you have the time I recommend doing it yourself because even if the numbers from your research of the areas make sense, when you're there in the area you'll clearly see that the numbers might not look like what you thought the area would look like positively and/or negatively. It can also be costly paying someone for the gas since constant braking and going with 3-point turns, u-turns, etc really does use up so much more gas than you think than driving on a highway or how most people normally would. It would eventually come down to the cost per lead as well.

I've got a solild 1-1.5% conversion ratio when calling and mailing to the homeowners. FYI

Post: Driving for Dollars

Alex T.Posted
  • Flipper/Rehabber
  • Houston, TX
  • Posts 67
  • Votes 30

@Adrian Moreno I highly recommend you outsource something that's simple and time consuming like this. I have VA's that do data scraping on HCAD once I have the list for Driving For Dollars in an excel. I also have another go-to VA for a cheaper source for skiptracing.

For example, the skiptracing VA does get good phone numbers for a really cheap bulk amount FIRST (@Ryan Blake) and once I literally can not get in touch with the homeowner after having my caller VA's calling each number (30-40% of the leads unreachable) I would use a skiptracing service a pay about $1.35 for each lead ($40 monthly no-contract subscription). This is without a relationship search.

"Do what you do best and outsource the rest!"

Post: Houston area deals

Alex T.Posted
  • Flipper/Rehabber
  • Houston, TX
  • Posts 67
  • Votes 30

@Joseph McClain Shoot me a message. Let's see how we can work together

Post: Flooded Homes for Sale in Houston

Alex T.Posted
  • Flipper/Rehabber
  • Houston, TX
  • Posts 67
  • Votes 30

@Karla Talancon Interested!! Let me know

Post: Upcoming Networking Events! RSVP ASAP

Alex T.Posted
  • Flipper/Rehabber
  • Houston, TX
  • Posts 67
  • Votes 30

I'm back on BP again and would like to start networking properly again. If anyone reads this, lets link up sometime and see how we can help each other out!

Post: Wholesalers in NJ 101 for beginners ?

Alex T.Posted
  • Flipper/Rehabber
  • Houston, TX
  • Posts 67
  • Votes 30

@Damian Williams I highly recommend the obvious, which is networking networking networking....

Post: looking for an active wholesaler in the houston area

Alex T.Posted
  • Flipper/Rehabber
  • Houston, TX
  • Posts 67
  • Votes 30

@Michael H. I'm in acquisitions at the moment where I market to find deals, go to the appointment, put them under contract and send to title company and that's it. I have another person on the team that deals with marketing and networking with buyers and we definitely close deals, regardless of liens. Typically from the moment that we sign the contract with a 15 day option period, about 3-4 weeks I get the wire transfer/50% wholesale fee.

@Kevin Harberson @Jonathan Halverson Let's link up. I'd love to help out and grow together. We can all wholesale all day. I love it since my VA's help out a lot on the time consuming tasks.

Very scale-able when you're primarily focusing on acquisitions. Shoot me a message and we can get lunch sometime and talk business. I'm always interested in how other people are marketing here in the Houston area as well.