All Forum Posts by: Edgar U.

Going door to door is going to be tough. When I first started in a tight budget I hopped on my bicycle and went looking for FSBO and for rent signs. I also looked for abandoned properties. I got a workout and a few #'s this way. Plus it gave me a quick knowledge of the area. I went on my bicycle because it saved me gas and I was able to do it quickly. The only thing is that it lasted a month, but I had a blast doing it.

Caution: you will be chased by dogs no matter the size.

If you don't know what to say to a homeowner once they open the door then my advice is to jot down the address, send them that exact yellow letter, and have them call you if they are interested in selling. I always prefer to get a warm call then to cold call someone.

Daniel,

Welcome to BP I currently reside in Miami, FL. Like someone mentioned above this is a pretty competitive market. My advice aside from building your team is to focus on areas that are good for flips. Not every area in Miami is good for this strategy.

For example an area where property are hot right now is near Lakes of the Meadow, but properties are pretty pricey. However, this area is good for fix and flips.

If you can try to gain MLS access this way you can study each market and just focus on a specific farm area.

1903-1905 n 20th ave, Hollywood, FL 33020

Asking Price: $235,000

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Property Details

Total Units: 5 Units (3 (1/1's) + 2 Efficiencies)

Living: 2,464

Lot: 8,048 sq ft

Description

Income generating MFH on a corner lot! Rented on a weekly basis with gross income of $4,000 p/m. Owner pays electricity and water. Has vaulted ceiling, hurricane shutters and many parking spaces. Occupied, call for showing!

~please do not disturb~

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Additional Details

Click Here to view on Google Maps

Please contact me for more pictures, rent break down, and any other general inquiry.

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Contact Info

Please PM or contact me [email protected] additional contact details provided on my forum signature below.

5927 S 37th St, Greenacres, FL 33463

Asking Price: 49,900

(NOT IN THE MLS)

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Property Details

Bed: 2

Bath: 1.5

Living Area: 882 sq ft

Lot Size: 2,178 sq

Description

Turn key cash flow villa! Buy today and start collecting rent tomorrow. Property rented to tenant of 20 years+ @ $735 p/m. Tenants want to stay indefinitely. Low taxes and no association fees. No repairs needed. Occupied, call for showing!

~please do not disturb~

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Additional Details

Click Here to view on Google Maps

Click Here for slideshow view and more pictures

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Contact Info

Please PM or contact me [email protected] additional contact details provided on my forum signature below.

Dailin,

Welcome to BP! I have been wholesaling in the South, FL are for the last four years. It is a great market that was hit with tons of REO's. However, my expertise has always been private sellers or most often referred to as motivated sellers. I love to find that needle in the haystack, the ugly ducklings, the costly renovations.

The following is just a basis of what you should do to get started:

Have a "Go All Out" attitude.

I see to many times people get distracted with the idea of becoming a wholesaler. This needs to be your top priority. Not something that will linger in the back of your mind. You have to want it like the air you breath.

(In no particular order)

• Call FSBO, and for rent signs.
• When you drive around keep a notepad with you and jot down ugly houses (Read below for a follow-up)
• Network with local wholesalers.
• Listen to the BP podcast, constantly read the forums here.
• Network with other investors.
• Visit open houses and ask questions about the type of upgrades that were used for that particular property.
• Get on the phone and call every wholesaler you find on Craigslist, Backpage and give them a warm introduction about yourself.
• Get on the phone again and call local builders, contractors, or anyone handy. As they might be your next client.

Start by locating properties:

If I were you I would pull a notepad and drive around the neighborhood looking for ugly houses. Jot down their property address, find out if they have equity, and send them a letter. Nice easy way to get started. The more properties you locate the faster it'll become a trend and you'll soon have a better idea of what "ugly" really means.

Read, Educate, and keep moving forward:

BP has tons of valuable information. So I recommend spending DAYS just reading the wholesaling forum, rehabbing forum, and land lording forum. The reason, most of your buyers network will fall into these categories. The best approach is to know beforehand their way of thinking.

Check it,

I was talking with a close relative of mine who was thinking of putting a sales team for his business. All the while he was talking I couldn't help but notice how his wife was very active with their business. I mean, she cold calls companies, finds leads, does the marketing campaigns, the whole freakin' nine yards.

Quick flash back to when I started
I got started doing wholesaling and once I put up some bandit signs, got my first deal. Then came my first check, followed by the second, then third, and so and so forth. I am still learning the ins and out of this business. However, I consider myself to be quite active and do make some money. I do everything my relatives wife does and then some.

Present day.
After witnessing a great duo (think Jordan and Pippen) but for husband and wife business owners. I said to myself, if my wife would've been more involved, think of all the potential it could mean for us.

I went home that day after meeting the great duo and told my wife "Babe, don't you think you should help me more with my real estate biz more often. I mean, my relatives are married and they make a great team together and so could we." Those were the words that I played out in my mind over and over again. I ended saying something in the lines of "Don't you think you should be more considerate of my real estate business and help me more often." I could literally see steam come through her nose and out through her ears.

Moral of the Story
If your wife wants to be part of your team it will come naturally. Otherwise, don't force things to happen.

Asking: $39,900
(NOT IN THE MLS)

3 Bed 2 Bath + vacant studio
Newly updated furnace

Rents
Apt #1 (1/1) Vacant – Previous Rented @ $475
Apt #2 (2/1) Rent: $525
Apt #3 (Studio) Rent: $325
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Potential Gross Income = $1,325 monthly

Expenses
Water bill = approx $150
Electric Bill = approx $300
Gas Bill = approx $250
Taxes = $55 per month or $660 annually
Insurance = $50 per month or $600 annually
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Expenses = $805.00 monthly

$1,325.00
- $805.00
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Cash Flow = $520.00

16% ROI

Living: 2,819 sq ft
Lot: 9,601 sq ft
Year Built: 1935
Taxes: $55 or $660 per year.

Excellent turnkey property that needs minor work and is already collecting cash flow income. The property has a brand new furnace that was placed in the winter of 2011, plus new carpeting.

See my signature below for more info including pictures, and actual expense report.

P.S. Jon Holdman (moderator) - Let me know if I can post the actual address of property, thanks!

Daisy,

Welcome to BP, this is by far one of the most active forums. Also, I currently do wholesaling for the south Florida market. Let me know if you need any help!

Julie,
Yes ACT Sage is a crm program, but isn't available for the mac. Zoho is web-based CRM.

BTW: i like the ESW (efficiency super woman)

I haven't found anything in a mac that is close to ACT SAGE which is awesome! The closest thing to something good was Jobpro Central. I did find it to be better for import/export type of business IMO. Also, I tried the realestateinvestor software. It was good, but lacking on modifications. I even had to download parallels, windows vista to run it on my mac.

By far the best CRM I found that might work for you like it has worked for me is ZOHO CRM. You can customize and do lots of nifty things to it. I could babble on and on about zoho, but I don't want to sound like I work for the company. They give you a free trial, so my best guess is to try it!