All Forum Posts by: Jonathan Quintanilla

 Hey Rich, welcome to BP! 

Where do you stand in terms of understanding the process of wholesaling? Are you comfortable dealing with people and comping property values, etc? The only reason why I'm asking is because buying 100 bandit signs would be a waste of money if you don't know how to deal with the incoming leads. 

I want to make sure you put your homework into developing a system for yourself in terms of lead capture, lead follow ups, property comping websites, potential buyer prospects, what sells in the area, etc. 

This is in no means a discouragement! Only reason why I mention it is because if you don't know how to process the leads you'll feel like you wasted your money and time.

 If you go into Listsource you can get a general idea of the amount of prospects in a specific area by creating a "sample list". 

As for getting it for free-- that's significantly more difficult than just buying the list outright. Especially if you factor in the time it will take for you to generate even 500 leads, it's not worth it.

I don't see that around my area. Is this a law violation thing or is it just general vandalism? 

Hiring a PI or performing a skip trace on the owners and calling them would be about the only things you can do now. 

For my own curiosity, did you verify that these houses were vacant and what criterion did you use to justify that?

 I guess I wouldn't consider dead bodies as occupying a house either. :P 

First off, welcome!

I would say the first thing you should do is make some goals for yourself, like concrete numbers -> I want to have $X in X months doing at least X deals a month. That way you can work your way down and establish a game plan for your adventure.

In terms of wholesaling, what do you know so far and what do you feel you don't know well enough?

 That's the general idea yeah, but if it's owner occupied and he's going to lose the house anyway, why wouldn't he at least try to work something out with you? Maybe the cash deal you can offer is enough for him to downsize his current living situation (as well as pay off the bank). If that's not possible, you can assume the mortgage (to hand off to a buyer) and see how much it would cost to bring it up to speed while having a reasonable down payment + monthly payments. 

 That happened to me too. I can understand completely where you are coming from. Just keep in mind motivation is a situational thing, you may not be motivated today, but you might be tomorrow! 

I say stick with a strong marketing group and be consistent in your marketing to that group. You'll strike gold eventually.

It also doesn't hurt to ask the neighbors if they know any information (assuming it's a decent neighborhood). They would be willing to give it to you because a vacant property, especially an unkempt one, is nothing but a drain on curb appeal and market value for them. 

This begs into question is it really all about the money? Sure we need to make it living and most of us want to make it to the big leagues and retire off of our passive income, but why hurt people just to get there?

I believe that, as a wholesaler, I am helping 3 people. I help the seller sell the house quickly and efficiently so that whatever tragedies that may be happening in their life, they can further reduce that stress. I help myself by feeding myself and my family as well as build up cash reserves. I help the buyer by expanding his portfolio and increasing the reach of his passive income goal. Sure the money can be even better if I squeezed the seller dry, but what kind of human being would that make me? I would rather only make $5k on a deal knowing that the seller is happy and the buyer is happy than make an extra $2k by hurting the seller. 

So to answer the question: if they had an agreement they should stick by it, but at the same time I would let them know that hey if you don't get it sold by the end of the agreement, let me know and we may be able to work something out.

We all can achieve our dreams without sacrificing our integrity. 

The people that are willing to step on others and trample on people to become filthy reach will definitely achieve their goals, but what happens when you change altitude too fast? You get dizzy and fall down.