All Forum Posts by: Amani Clarke

Hey Harrison, 

I just graduated from college as well and started wholesaling in St.Louis virtually. I was actually looking for a partner to start wholesaling with preferably someone local to St. Louis.
I'd love to connect with you and see if we could possibly partner up and talk some more!

Hey Ricky, 

I don't know any internships that may do wholesaling but I've been in the real estate space since 2020 and I'm looking for a partner to do our first couple of whoelsale deals with. There's a lot of information and value I think I can add if you'd be intrested in connecting let me know! 

Hi guys I'm thinking about trying out direct mail for lead generation in my wholesaling business. I was thinking about driving for dollars to build a list of at least 3,000 properties. I have about $18k to spend on the marketing to try and yield a return. I know that it's recommended that I send in batches which is what I'll likely do. I spoke to a very successful real estate investor/ broker in my market and he said he's finding great success with sending mailers 6 times to a list every 21 days. 

I was curious to know 

1) How many letters are you sending out to convert one closed deal? And how often?

2) How much are you spending to get the deal compared to the average assignment fee?

I signed up with REI Call Center back in October of 2023. I've been with them for about 6 months for the silver package, that comes with a cold caller and an acquisitions manager. In my 6 months of being with this company I only successfully got 3 contracts signed, all of which fell through. I actually put in my request to cancel service with them. I have not closed one deal being with this company. If you're only looking for callers to make contact then you can go with them but anything else DONT DO. I would not recommend adding the acquisition manager as part of your membership.

I've had 2 different instances where we lost a deal due to not following up promptly. They would send me a hot lead I'd get back to them as soon as possible however they wouldn't follow up with the seller in time. They'd probably call once get a voicemail then call again maybe in 2 days. I've provided multiple lists for them to work on. I've used the skip-tracing service they recommend and didn't feel the data was good enough. I told my account manager multiple times to make sure they were asking about creative finance options. I'd listen to the recorded calls and they almost NEVER asked the seller. Overall they do a horrible job of prequalifying good leads. I told them my buy box multiple times and would still get "leads" that didn't even fit my criteria. Hence why I haven't closed anything. I also noticed they would still call properties that I already told them to pass on but they'd still call. 

Also, another important thing to note. They shuffle callers every week and they only call for 20 hours a week NOT including weekends.

Also, the comps that they provide are NEVER accurate. Since their comps are always bad their offer prices are usually bad too. Of course, this is not a good mix. 

I reached out to Anton the CEO to request a refund because I've been spending money on this company but have not seen a dime of ROI. He said no.

So with that being said if you are going to use them be aware of those things. You can give feedback to your account manager to relay to the callers or acquisitions (you can't talk to them directly or train yourself at all) but they might not listen still. 

I'm receiving leads that don't fit my buy box but wanted to partner up with a rockstar investor-friendly agent who can not only help me evaluate the on-market value but also potentially list them as my seller agent. Looking to make partnerships and money this year 2024. Need someone very familiar with St. Louis. I have a few I need help to dispo. 

Hi BiggerPockets fam, I have a portfolio that I'm interested in acquiring. I plan on renting the properties out long-term to section 8 tenants. I've already been talking to the agent and have run my numbers. I will need $140,000 to get me to the closing table to cover reserves, down payment, and closing costs. If there's anyone interested I'm looking to structure the terms as the following 

Purchase Price $570,000

Private Money Lender/ Capital Partner $140,000

15% annual interest 

Interest Only monthly Payments

Get your money back in 18 months buyout/turnaround

If anyone is interested or wants more information please reach out!

CALLING Tennessee AGENTS. I'm looking for an investor-friendly agent who can run CMAs for me specifically throughout Memphis!

Here's a breakdown 

Purchase Price 475,000 

Down Payment 340,000

Seller finance $135,000

2.5% interest to seller 30 year fixed 7 year balloon

The seller will do a cash out refi before selling to me. Lets say they walk away with 75% LTV that's $356,250 which is more than the agreed upon downpayment. From there I will then assume that new loan they got through the refi and make the PITI payments as well as the seller financed payments.

The rate is going to be high regardless, I’ve already reached out to multiple lenders and they all gave me a high rate and it is a 9 property portfolio. 

I currently have a seller finance deal where the seller wants a large down payment. Has anyone ever structured a deal where the seller does a cash out refi to cover their down payment then you as the buyer assumes that loan sub 2 and seller finance the rest of the amount owed to the seller in second position?