All Forum Posts by: Alonso Fernandez Maldonado

Thank you, guys! I appreciate you @Joe Cassandra @Joe Aiola

Hello guys, 

I was wondering if anyone has any tips/advice on how to learn different strategies to analyze markets and deals. By this, I mean webinars, books, youtube channels, a specific BP podcast, etc. Something that will go in-depth on different strategies. 

Thank you!

I think you're misinterpreting what I'm trying to get across @Joe Villeneuve. I don't disagree with you at all. I don't expect a chapter of a book to make anyone a great negotiator. I do however think that this book has a lot to offer to many people interested in the art of negotiation. Like I said previously, I'm not saying this will make anyone a perfect negotiator. But you can't argue against the fact that practice makes perfect. The point of role-playing is to prepare yourself for different scenarios that may come up in a negotiation. How to answer certain questions, how to ask things, what different tonalities to use, how to use those tonalities, how to identify the type of negotiator your counterpart is. These are the things that I intend to practice through roleplaying with different members. I agree all deals bring differently challenges and that there isn't one formula to approach every deal. But the best outcomes come from preparation, which is what I'm trying to accomplish here. 

Have you had the chance to read "Never split the difference" by Chris Voss?

Thanks for your response, @Joe Villeneuve. I don't plan on teaching as I don't have any experience. I plan on connecting with people who have read or are willing to read "Never split the difference". The first stage would be discussing the book as you would in a book club, sharing ideas. After discussing the book I plan on doing virtual one-one-one meetings amongst those interested and doing roleplays using the techniques learned from the book. I'm not saying this will make people the greatest negotiations, but I do think it will help us get used to using different negotiating techniques without jeopardizing a deal. I think this can be useful for everyone, but I think the people who will benefit the most are the newbies who are not very comfortable with phone calls, talking to strangers, etc. More experienced investors are also encouraged to participate as they will also get something out of it and will help facilitate the conversation. I'm not sure if it'll work, but I want to try it now that we all have a little extra time.

@Joe Villeneuve

Like in any other business, in real estate, being a great negotiator can take you very far. After reading "Never Split the Difference" by Chris Voss I realized that negotiating is not so hard, it just takes a lot of practice. I have been implementing what I learned from the book in my calls and deals which as worked very well. However, I could speed up the learning process by practicing more often. Because of the lockdown it is a good time to practice since a lot of us have extra time on our hands. I was thinking of doing roleplaying sessions via ZOOM with whoever is interested. I would like to invite anyone who wants to improve their negotiating skills to send me a direct message so we can arrange something and help each other be better negotiators. 

Hi guys!

I've been practicing doing a lot of ARVs and CMAs before doing my first deal. I'm having trouble determining what the extra value of certain features is. I know how to perform the calculations of adding and subtracting numbers from my comps to come up with a CMA or an ARV. However, not knowing what each feature is worth is very difficult to determine. Does anyone have any tips? I wasn't to figure out mostly what and extra bed, bath, living room, garage, and a large lot are worth.

Hello guys!

I have never done a direct mail campaign and I'm having trouble finding the right service provider. I'm just getting started in the wholesaling game so I have a low marketing budget. A lot of the direct mail service providers I've talked to have minimum requirements of 1,000. I was wondering if anybody as any advice or recommendations on direct mail service providers that allow minimum quantities of a couple of hundred postcards (200-400). 

Thanks!

Hi BP,

As a lot of you may know, I've been trying to get started in wholesaling since about a month or two ago. Last weekI found a property that is perfect for wholesaling and I began the negotiation with the owners. I toured the house and estimated rehab costs, I ran comps and determined ARV, and I made an offer. The ARV of the subject property is $470,000; Rehab Costs $70,000, holding costs $1,600/month. Having an investor (flipper) looking for 80% of ARV minus rehab costs, I decided to offer $290,000 for the property. However, they said they were thinking more around $350,000. I know I can probably go as high as $315,000 on my offer, but the owner is no longer responding to my calls. Does anyone have any advice on how I can approach this to give them a second offer? If not, is there something I should be doing different for the next time?

Thanks BP!

Thank Joshua!

Thank you dave! that was very helpful