All Forum Posts by: Keith Lutz

It might be better, if I gave a reply. Michael Quarles, was so down to earth and a very humbled person. Every day in the beginning we would talk for a half hour or so, and he would teach me awesome stuff, not just about Real Estate but about dealing with people and things he has seen over the years. I'm pretty sure I said it, but a big, THANK YOU Michael!

Yellow Letters definitely gave over a 10% response rate, while postcards in my area, I do not think hit even the .5% response rate that can be considered normal.

As far as actual deals go, well I am hopefully about to close on one from this mailing on May 2nd. Also because I have my real estate license, I have acquired a listing from someone that would not go for the low offer. Also I should be getting another listing off of these mailings real soon.

It was a great experience, and I hope to be able to pay forward someday myself.

Things are moving now! I just saw your pretty mug, giving props to Sean Terry on the first $17,500 you made... http://flip2freedomnow.com/ You going to his Atlanta show?

Deshone Drummond, it's funny you mentioned and acted on that home next door, the re-habber noticed that "slum" next door and thought it detracted from the hood. Glad you acted on that, just taught me a lesson! We have to get together with some of the New Jersey BP'ers at a diner. Congrats!

Hey Chris,

It's a foreclosure listing site with the actual paperwork uploaded, the owner was showing it off at NJRESN last month.

I am always up for some diner food. I would prefer something east side of Morris county.

Hey Ibrahim S, why don't you come to Bruce's meeting tonight, and we meet!

Welcome Jonathan Fernandez!

I totally agree with Sandy Blanton, but did you say this was a HUD deal? Agents can recieve up to a 5% commission from HUD, so you saved 2%. (unless things have changed in three years since I did my last HUD deal). The reason HUD allows this is because the prices are so low usually.

Technically these were not wholesaled, because I have my RE License, but deal one I had the intention of.

Deal 1.) Found on Craigslist, I called the wholesaler (actually a rehabber with to much inventory), and he told me to call his RE Agent, because no one responded, so he gave it to him to list on the MLS. So I brought my Rehabber and showed him the deal. He bought it through me acting as a buyers agent. (profit roughly $5,000 after broker gets his cut). My rehabber will be giving it to me to re-sell after rehab is complete. Rehabber bought it for 325k, expecting to sell for above 549k. The wholesaler who sold it bought it for 260k (nice profit for him huh?). Total time, an hour or two!

Deal 2.) Found on MLS - Proud of this one because I out-maneuvered the other investors & their agents, because I could see that this family wanted to stay in the home through the holidays. So we won the contract on the terms, not price! 260k, while letting them stay in the property for $1 for 6 months rent. This was worth more to them than the 270k quick close others offered. Plus it helped that I played nice with the listing agent. Total time 3 hours max, profit on first sale $6,000. Plus resale on back end eventually.

So while I am still trying to get that true wholesale, I thought I would share these stories for new wholesalers wondering whether or not to get a RE License too.

4% if I can find someone to pay 275k? Message me the address Deshone Drummond, I know a builder. This is why you shop it around, let the market determine the price!

Deshone Drummond, Incredible deal! If he is bringing in hard money, than why not partner with him now? Don't let him partner with someone else, this way you both make more, no? Start your re-habbing goals a bit earlier.

FYI - when all is said and done, I need to know the address, I was doing some Drive by's myself this summer and want to know the big fish that got away, if you know what I mean!