All Forum Posts by: Braden C.

@Sahleem Lee Ask if she still has the original contract from the buyer that clouded the title. If they put an earnest money deposit down, contact the title company that was supposed to do the closing and see if they ever delivered the EMD and/or if it's still in escrow. I would also ask your attorney or title company if there is a statute of limitations for a lien holder to file suit.

You can always take an exception on the title policy if you pay cash but the issue is going to come back up if/when you try and sell the property. The other buyer could also include you in a lawsuit if they go that route, probably unlikely but you never know. We went through a situation many years ago where we actually had the first contract and the seller signed a contract with another buyer a few days later. We closed and the seller never said a word to us about the other buyers, a few weeks later we were served with a lawsuit from the second buyer. They tried to fight it and reverse our sale but obviously lost since we were the rightful buyers in the first place.

Good luck! 

@Anthony Sanzari Like what Jonathan said, that's a huge question. If it was me, I'd start by doing a lot of research right here on BP. From there, I'd create a business plan and treat wholesaling like an actual business. So many people watch a couple youtube videos or take a weekend guru course and then go 100mph trying to be wholesalers without any real direction. If you have more specific questions I'd be happy to answer them but I suggest using the search function, most wholesaling questions have been asked dozens of times and there are countless threads with lots of great advice. Good luck! 

@Angelia Kinston Yes, direct mail still works but like with all marketing a lot will depend on how you handle the leads. In my market, I compete with probably 10-15 or more people sending mail like us. I am still able to consistently get deals because I make sure to do simple things like answer my phone, return messages, follow up with leads, basically be a professional. Of the 10-15 competitors I have, 2-3 of them do the same thing. We also don't send yellow letters, we send a very well written professional letter in a unique envelope so we stand out. Good luck! 

@Destinie Appling There are thousands and thousands of threads on this site with a ton of useful information about wholesaling. I'd start reading and taking notes. 

Did you order a survey when you purchased the property? If not, you should check your closing packet and make sure you didn't sign a survey waiver. If you did, you aren't going to have much recourse against the title company. If you decided not to order a survey, the responsibility is yours for the situation. 

Like others have said, the first thing you should do is order a survey. It could literally be a matter of inches of your driveway on their property (if at all) and a $200 rental of a cement saw and a few hours will solve your problem. 

@Nicolas Botia I think you're going to find that it's saturated with retail agents right now too, just part of a the market we're in. If you've had two years of success wholesaling and/or being an acquisitions manager then I would keep going and just simply change your approach. Part of being good at wholesaling is the ability to zig when your competition zags. When the gurus come out with a new technique everyone starts to do it, right now it seems to be cold calling. I see you're in Tampa, I am down in Bradenton, shoot me a message and I'd be happy to help you out. 

@Vincent Riboni That's a good question. If I was starting all over again, the way I acquire deals would depend entirely on my financial situation. If money was tight, I would be out driving for dollars and looking for rundown or abandoned properties. I'd also be going through the county clerk records to find any pre-foreclosures with equity or tax deed sales with equity. Both of those are almost free and can have really good results. If money wasn't tight, I would plan on doing those things along with a direct mail campaign of at least 500 letters per week for a minimum of three months. It's all about turning over as many rocks as you possibly can, you absolutely get out of it what you put into it. Hope that helps! 

@Vincent Riboni You can find a local REIA to join and get buyers there by networking. One thing that I have found over the many years I have been doing this, if you have a good deal, it's very easy to find buyers. I am sure there are different opinions on this but if I was starting over, I would spend 95% of my time finding good deals and about 5% finding buyers. Good luck!

@Matthew Shaw The tax records will likely have the owners mailing address, if it's doable, you should just go and knock on the door. If they don't answer, leave a card or a letter tucked in the door. Also, I always check and see if the taxes are being paid or not and who is paying them. In my county, I can look at the receipt and the name of the person paying is listed. Since it's been owned since the 70's, it might've been passed down to the owners children and they aren't getting your letters. 

@Paul Logsdon Congratulations! The first one feels great to get done, and you had a great profit. Now it's time to snowball it and get consistent deals.