All Forum Posts by: Brad Clark

Hi @Robert Gamblin, the time frame will depend on what you set as your closing date. Let's say the closing date is 30 days from now; you want to assign the contract prior to day 30 and most likely a bit before day 29 as investors will need to get money and loan documents together. 

Ideally, you'll have your contract assigned within the first 10 days (within your inspection period). 

@Account Closed I completely understand the perspective. It seems anyone attempting wholesaling nowadays just targets Absentee owners blindly. Unfortunately, I'm sure yourself as well as many others, including myself, fall into that very generic characteristic. I would hope any wholesaler would add contacts to their internal DNC list, but I can only speak to what my team does. 

@Brandon Sturgill Thank you for the link, the goal would be to start growing a rental portfolio but I will ensure I'm in accordance with any local statutes. I understand a majority of wholesalers get a bad rap, some rightfully so. The goal is to provide the best option for a homeowner, this was my strategy for connecting with local realtors and PMs. 75% of the time a cash offer doesn't make the most sense and I morally can't pull wool over someone's eyes just to make a buck. 

@Remington Lyman I appreciate the info! I've seen Linden pop up a few times browsing the Columbus forums, definitely seems like a good neighborhood to target. 

@Marc Rice small world! We're actually finding MA to be a bit of better market for off-market properties right now than RI. 

And that would be great, I look forward to it.  

Hi All,

I'm a wholesaler/investor from the Northeast. Columbus hit on a lot of key metrics while looking for a new virtual market so my team and I will be beginning a campaign shortly. Wanted to connect with local agents and property managers to gain some additional insights as well as pass on referrals. 

I look forward to chatting!

@Isaiah Pearson for your voicemail you'll want it to sound professional but not automated. You want the seller to feel confident that you are someone who can buy their home. 

Also, if just starting out I'd recommend browsing other sources for numbers such as Vumber or even sourcing numbers from the dialing software you're using. CallRail is great, but may be a bit of overkill for what you need if you're looking for just a few local numbers. 

@Samantha Baez I have no affiliation with, but I highly recommend Propstream. I find the cost to be well worth it. If cost is a prohibitor and you are strictly looking for software to assist with comps, then I recommend using Zillow. Yes, Zillow catches some flack for their Zestimates, but filtering to "Recently Sold" is going to provide you with most of the same data for comps that you'd be able to find elsewhere. 

Quick tip for running comps:

1. Run comps against similar property types (i.e a SFH is not a comp for a Duplex)

2. Pull your comps from within 0.5 miles of the subject property

3. Pull your comps from within the last 3 months. 

There are more details to go along with these, but those are my Big Three for comps.

@Jabril Hassan I would recommend obtaining your target market state's local Purchase and Sales Agreement. 

If you'd like a general one, I have a free download of mine within my profile. If you do use this, I recommend having it vetted by a local real estate attorney. 

@Mitchell Parker, congrats on getting out there and taking action!

1. You can mention you are a wholesaler and that you'd be bringing in a cash buyer. To avoid objections, can be forthright and tell the seller he will still receive his full offer agreed upon in cash.

2. I recommend splitting up the properties. Start with the one you believe has the biggest spread (probably the ugliest one), and put that under contract. In parallel, discuss a "right of first refusal" for the other three properties. Then just go one by one with each property. 

3. Yes, if you have a cash buyer you believe would take down one or more of the homes can work out proof of funds with them.  

@Hunter Duncan, a virtual wholesale deal is going to be a similar process to a local deal with the exception that everything you would physically do (take pictures, meet the seller, show the property to your cash buyers) will now be done by someone you've networked with in the virtual market or someone you've hired. 

I'd highly recommend sources other than Zillow as well for finding your deals. 

@Mark Lagasse No, I've never had an inspection as part of a wholesale. One of the selling points of your cash offer is no formal inspection. You do want to ensure you have an inspection period within your purchase and sales agreement, but that is simply to allow you time to market the deal to your cash buyers and set up a cash buyer walkthrough. Your cash buyers are knowledgeable on rehabs and will be able to identify what work they would do if they were to purchase the property.