All Forum Posts by: Nathan Paisley

I would definitely make an offer!!!! Just 85% below market value... ;)

Read this...

http://www.biggerpockets.com/forums/79/topics/6100-how-about-a-course-or-book-on-wholesaling-but-something-?page=2

Read this 3 times and search every question you think of in BP. Also listen to Sean terry podcast. Once you get to that down start asking specific questions that might confuse you.

Be prepared to actually work hard and put the time in, to even come close to making your first deal. Figure out how much $ and time you can spend on marketing and building your business. Then take action, send letters/postcards and make offers. Good luck!

Nathan

I agree with what Jon said, I'd also add who we're you marketing too? If your calling fsbo's and and some are actually wholesalers then that means there ARE deals to be made in your area. Do some digging and find out what houses are selling in your area with cash transactions. This should tell you where to direct your mailings to sellers/buyers.

One type of marketing campaign might work for one person in Florida but maybe not Maryland...
It's taken me over 6 months to finally figure out what my budget/target for direct mailings would be, but I finally hit it with persistency. I've learned it's trial and error with wholesaling. It's all about what works in YOUR area.

I do not focus on fsbo's but if I had to, I would. Good luck.

Nathan

You're beat...

Move on. There's others out there I promise.

Hi Tristan, I typically start by asking, are they interested in selling their property? If they say yes, I will then ask for for their name, address, city, zip. If they say no why are you sending me mail I just simply reply we send out hundreds of letters/postcards in your area. Usually that works just fine.

When they say yes, I was "thinking about it" or " what do you do?" I tell them what I do and how I can provide a service maybe helping them? Then I ask why do they want to sell? If they start giving you a reason take good notes, you're looking for motivation here. If they say that's personal why should I tell you? Then just say thank you and move on.

This is a numbers game 99% will say no, maybe, call me in a few months blah blah blah. Just pick up the phone and start talking you WILL make mistakes and you WILL sound like a noob but the more you talk the better you get.

Take action! Action will eventually make your dreams come true!

There are 50 ways you could go about starting a wholesale biz. I would start by calling every single title co. you can locate in your area... Even farther if you have to. Ask them if they are investor friendly/deal with cash transactions/do assignment contracts and simultaneous closings.

Once you know they can close the way you want you can get your contracts in order...
I would get a state legal purchase and sale contract and assignment contracts. In the mean time you need to figure how much $ you can spend on marketing a week/month. I would suggest a minimum of 1000k a month to get started, more if you can. Are there any other wholesalers in your area you could talk to for advice?

Start calling RE attorneys and asking questions. In my experience most don't quite understand what your trying to do, let alone realtors or title company's. Try to get a realtor on your side and compensate them every time you close a deal for a percentage.

Just start calling.

Sam have you ever completed a wholesale deal? It sounds like analysis paralysis! Don't worry what others do and don't do! Be yourself, be honest, work hard and things will line up!

Nathan

I 100% agree with these posts. I have been working on 1 type of campaign that hasn't done anything for me but I've only hit them twice. Tons of tire kickers but like stated above its the 3-4-5-6 that bring them back. On the other hand I started a diff. Campaign and got 1 deal off the first hit and this 1 deal is gonna take care of my marketing for the next year.

I hate the saying you gotta spend $ to make $ but it just might be true depending on what your goals are. Keep at it maybe try a different list, but never stop!

Nathan

One more quick thing... So say the seller is signing the paperwork and they finish. Does the title company write them a check at that moment from their account basing it on the fact that the buyer will be there in say 30 mins to fund the transaction?

Nathan