All Forum Posts by: Addiel Flores

oh and one last area I would stay away from. The lower valley. That's east of the south side. I know this might sound crazy and don't mean to scare you but most of the drug smuggling into the city for through the lower valley. Lol it's not obvious though. It's one of the things that you would need to be local to know. But the city really is super safe. I how all that helped.

hello Cynthia, I actually lived in El Paso for 4 years and still have rental there. First, like Roy said, the market is definitely CASHFLOW. Don't expect for much appreciation. However, it is any excellent! rental market. They are very family oriented there. The city is absolutely BLOWING UP right now. Highly driven by the military there. Not sure if you knew but in total they will have brought around 30-40k new soldiers into the city plus their families. (I was stationed there while in the army a few years back) They have been expanding the city to absorb it since 2010/2011. The city is broken up into 5 main areas. The west side, this will be your upper end area. This is where the "city's money" is at. The northeast, not bad of an area, but wouldn't be my first choice. A bit more crime. Central, nicely kept but this will be your older, retirees. You have the south side. Stay away from this area. Here are the poorest of the poor of the city, unless that is your strategy (section8 type stuff). Lastly you have the east side. Personally I would put my money here. The way the city is positioned they are right up against the new Mexico border to the west AND to the north. To the south is the Mexican border. That leaves only one way for expansion, east. You will get cheaper homes here but all of the "new" city will be around you. Lastly, as I mentioned, it is a military town. Renting to military does mean sure steady income, but it also means higher turnover. Just something to think about

Wholesale will never exactly be on decline. There will always be a different strategy of wholesaling you can do depending on the movement. Also, there will always be people in situations. Life happens. It is your job to be in the right position to take that opportunity when it comes around. It just might seem like its on decline because most of the newbies that hit the ground running in January, have since burnt out and left race.

I agree with Alex and Brandon on this. You will be fine so long as you have that contract in place. You can advertise another wholesaler's property by setting a contract with them called a flex option. But I would recommend you try and stay away from it all together. Like Alex mentioned, it's not cheerfully received. You'll hear the expression "daisy chaining" and people don't much like that. The only time I have used it is if there was a newer Wholesaler that got a deal and couldn't or didn't know how to sell it off, and asked for my help, I would set up a flex option to send out to my buyers.

I am using usleadslist as well. As a company I have always liked them. But as they have mentioned before it takes some time to get into some areas. The main one I wanted in CA was locked up for some time. About 6-7 months before I could get into the county. When I finally got it, they only gave me the very outskirts which weren't as desirable. I took them just to get in, the very next quarter I got the whole dang county.

Most of my marketing comes with yellow letters, one thing to keep in mind is the type of person that you are writing a letter too. I do inheritance and absentee owners. My inheritance is my most basic one with a simple " Dear Doe Family, my name is Addiel Flores and I am interested in buying your house at 123 main st. for $. Call me at .... "Hablo Espanol" (if it's a primary spanish community) Thats it. Excellent response. The absentee is a bit more lengthy because there is less emotion attached to it. I started literally hand writing mine with red ink but now just have them done through a yellow letters company.

I agree with Jerry Puckett, the letter is WAY too long. People that are truly motivated want answers and they want them now! They don't have time or the patience to read through a long letter, especially if they don't know you. I do letters myself that are very quick and straight to the point and I know how much time even that takes me. You time is the most valuable thing that you have because you can never make any more of it. You only have what you are given. Also, I suggest, be a buyer! I know you are a wholesaler, but be a buyer. A wholesaler is simply a BUYER with multiple resources. You have the money to buy the house. You may be getting the money from transactional funding when doing a double close or from YOUR Buyer with an assignment. But you have the money and you are a buyer.

I know how you are feeling I was in a similar situation. I had bought high and could have sold higher, but greed kept me in. Then prices immediately started plummeting. I was fortunate enough to survive that. I can understand how you may be apprehensive right now about getting back into it. The fact of the matter is that the housing market just started doing any upswing. You are at the bottom right now. And I think it would be crazy not to start buying. I agree with Wayne, Sell at the bottom and don't rebuy at the bottom, Then it won't work out. Obviously, don't buy a big shirt and wait to see if you grow into it. Just learn for your original mistake and only buy enough house you truly need.

I agree with Ned on this one. It is pretty thin for your market from what it sounds like. I would definitely consider it if it was in a market like CA where you have buyers calling you as you're still in a meeting with the owner negotiating. Although your number isn't too far off the 70% margin, your number is also not counting what you will factor in for your fee as a wholesaler which will take it even less.

Welcome to the forum David. I'm actually from California as well. Born in Bellflower and now live in Riverside. I wholesale here in California and Texas. I also own rentals in Texas. So what kind of investing are you looking to get into. Hopefully there is something that I can help you with or we can later work together somehow. Good luck to you.