All Forum Posts by: Jonathan Quintanilla

I agree with Luis. I, personally, use Quickbooks to keep track of all my expenses, etc. You would be surprised how generous the IRS is with business write-offs ;).

1 Vote

Originally posted by @Wale Meshioye:

If I find a property and the home owner is interested in doing a short sale because owes more than what the home is worth what are the steps that I should take to wholesale the property to an investor? This is my first potential whole sale deal. Thanks

Refer them to a short sale agent that you trust, that way you build better relationships and potentially get a finder's fee for it.

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As a wholesaler that operates exclusively out of my local market, I always try to guarantee that the property is in the condition I say it is. I have my own processes that I use to ensure this. I, personally, have noticed that most cash buyers don't really mind you being far away, especially when you give them good deals with good numbers and good pictures.

1 Vote

0 Votes

Originally posted by @Haitham Abbasi:

Originally posted by @Jonathan Quintanilla:

Originally posted by @Haitham Abbasi:

Greetings Everyone,

I hope you journey is forever blooming

I am a new student to the world of investing in the city of Phoenix, Arizona. I have been at it, Reading, learning, and gathering information. I am trying to even get my first lead so I can get started with the business of Wholesaling. There for my budget is very minimal (I am a college student).

I have purchased business cards that say "WE BUY HOUSES". Also have been posting flyers by the Bus stops that offer rewards for finding a vacant properties at the time of closing.

What would be the best Marketing strategy ? Online marketing ? where to and ways to finding my very first deal

I appreciate your knowledge in advance

Haitham Abbasi

Greetings to you as well Haitham.

You mention your budget is very limited, how limited are we talking? Keep in mind that it does actually take money to get into wholesaling (in the form of marketing mostly), it may not be a lot of money you need but it's still a necessary component. However, that does not mean you can't exhaust your free options such as Craigslist, referrals (through agents or friends), Backpage, etc.

As far as the best marketing strategy, that's pretty area specific honestly. I generally use yellow letter direct marketing campaigns but your area might take postcards a lot better. I would say start with the yellow letters and go from there.

The key to marketing is consistency, you want to keep touching the sellers every 4-6 weeks with your mailing for about 6 months.

Thank You Jonathan

What would be a great ad to post on craigslist. I noticed that there is a lot of a competition on that website

Thank you

Could be anything you want really:

$$$$I BUY HOUSES$$$$$$

Any area!

Any condition!

INSERT PICTURE HERE

Call me!

Something like that I would imagine shouldn't be an issue.

Also, call some people on Craiglist that want to sell their house, you can gain some good people experience that way.

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Originally posted by @Marci Stein:

so what does a 6.5 cap rate mean?

(also,there is no property mgmt--I am it!)

I believe the cap rate is the potential return on investment given on an expected income of the property.

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Well it all depends on the state that you're in, each state has a different process for licensing agents. I would say look into that first, get the fee chart and see how long it will take before you start making money.

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Originally posted by @Lance Schaefer:

Ok...This year of 2014, my email was bombarded with marketing material from large RE investosr. It talked about a heavy hitter investor who buys properties all over. His material dealt with tax strategy and tax planning and preparation. He used a big firm located somewhere in Colorado. It seemed like every other guru out there was promoting his course and webinar. Many were affiliate linking it from the guru sites.

I have had a computer crash and wanted to store the firms info in Colorado,with the hopes someday I would need it. I remember in the video/webinar he said that the accounting firm he used in Co. had a partner who was an ex IRS lawyer. He commented that he made over a million dollars a year, and legally paid in a small amount and this firm does wonders for him. He talked about how he rented out his house to other people for two weeks out of the year and made tax free money. I do remember that much.

I know it is not much to go on, but am hoping someone out there can remember his name, or watched his webinar. I am looking for that firm name in CO as I have use for them now.

Any help is appreciated.

Thanks

Lance

Do you know what kind of format the information was stored in? Depending on the severity of the crash it shouldn't be too hard to recover some of the lost files. I know I'm not answering your question directly, because I have no idea who that might be, however I wanted to chime in with some computer experience.

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Originally posted by @Haitham Abbasi:

Greetings Everyone,

I hope you journey is forever blooming

I have purchased business cards that say "WE BUY HOUSES". Also have been posting flyers by the Bus stops that offer rewards for finding a vacant properties at the time of closing.

What would be the best Marketing strategy ? Online marketing ? where to and ways to finding my very first deal

I appreciate your knowledge in advance

Haitham Abbasi

Greetings to you as well Haitham.

The key to marketing is consistency, you want to keep touching the sellers every 4-6 weeks with your mailing for about 6 months.

1 Vote

Originally posted by @Rene Martinez:

Jonathan Quintanilla
My friend told me they both have been vacant for a long time, also when I spoke to the neighbors they confirmed what my friend told me. The houses are in bad shape and there's no sign of anyone occupying them. Thanks, skip tracing was what I was thinking would be my next best option.

Okay good, only reason why I mentioned it is because sometimes vacant houses aren't necessarily abandoned!

But yeah skip trace is an affordable way to track down the owner and reach out to them.

0 Votes

All Forum Posts by: Jonathan Quintanilla

Jonathan Quintanilla has started 2 posts and replied 68 times.

Post: Tracking financials in wholesaling

Post: Wholesaling

Post: Nationwide Wholesaling

Post: Marketing, and finding my first Lead

Post: Marketing, and finding my first Lead

Post: please help analyze this deal

Post: REI wannabe - should I get a real estate license?

Post: Help finding guru course/Name

Post: Marketing, and finding my first Lead

Post: Finding owners