All Forum Posts by: Account Closed

I'm looking through streets on my local tax assessors website and I am not sure by the transaction type if it should be something that should be a red flag to me or not. Is there any transaction types (Sale Qualification or Validity type) that should make me say no to moving forward with trying to wholesale a property or anything that should tell me to move forward. Below are a few of the property history transactions that I am curious about. 

I quit my job as a stockbroker about 3 weeks ago. This is inspiring. 

Is there a calculation for determining if a rental property is a good deal for wholesaling? I have a seller that wants to sell but how can I determine if I should lock it up and will have a buyer for the deal. Is there any calculations or anything a potential buyer would look for to make sure the numbers work? Don't want to get a house under contract that will not close. 

hello...I have been working with a mentor lately and she has been helping me with marketing. She is very knowledgable with wholesaling and I am happy that she has been assisting me. I finally have my first potential deal and the numbers do not work for me(so I feel). There is a single family home in Atlanta ga that I am trying to wholesale. ARV $65,000. I do not have any pictures of the properties yet but the owner stated that it has fairly new hardwood floors and the only thing that it needs is a new thermostat. The houses had been rented twice for $800 (fairly low for the area) in the past since the owner has had it and right now it is vacant. My mentor is telling me that, even though the seller told me that she can not do anything lower than 60k, she still wants me to go look at the property to take pictures. Also, she stated that I may find a cash buyer that is willing to pay $65k, which we calculated to be the ARV. Is this a potential deal? Should I even bother to waste my time viewing the property?

I have been trying to call sellers before I Direct mail to them but 80% of the time I am not able to find a phone number. I am using free services but if  I were to pay for one, can anyone tell me what is the best pay service for locating a phone number for potential sellers?

I spoke to someone yesterday who is interested in selling her house. Initially, I contacted her about selling the house she lived in but she stated that she had another property in her name that she would like to sell to get it off her shoulders. It is a 2 storied, 4 bed, 2.5 bath in the suburbs of Atlanta, Georgia. The ARV is $115k based off the comps in the area. Before I throw out my wholesale 70% rule number to her, I would like to know is there any other methods that would be a backup to get the deal closed where I make a profit. She's owned the house for 5 years, the house is fairly new with little needed repairs (maybe new carpet and paint). Currently, she is renting the property out to tenants and she said their lease will soon end in a couple of months.

The reason I am asking, the seller has a $200k ask price. If I offer 70% minus repairs, I am sure she will not accept it. Do you think their is another method?

@Victoria Nellon Georgia

I am networking for cash buyers and sellers at the same time. I have no problem working with wholesalers, if need be, but how can I do that when they are dishonest about who they really are? I think my question has gotten a little mixed up. I do not pose as a cash buyer to other wholesalers. When they ask am I a wholesaler or cash buyer i inform them that I am a wholesaler. I do not mind JVing with wholesalers but how can I do that when they're claiming that THEY will be the ones bringing cash to the table.

I have called a few respondents to a Craigslist ad that I posted a few days ago. Apparently, most of the respondents were "cash buyers", so they say, and not wholesalers. I took their  criteria information down but don't feel too confident. 

My question is, do you ever get the feeling that wholesalers could be posing and saying that they are cash buyers when they are not?

P.S. I introduce myself as a wholesaler.

Can anyone show me a preview of their marketing campaign to cash buyers (yellow letter) or post cards. I don't have any ideas and don't want my pitch to be too short or too long.