All Forum Posts by: Rob Powell

I am a wholesaler myself and Ned pretty much hit the nail on the head with his list.

One thing I did not see though was the use of bandit signs. They have worked great for me.

They are illegal or at least against most city codes so if you use them beware and be prepared to face possible penalty.

I have not yet ran into any issues with code enforcement but I fully anticipate it someday.

It is just a risk I am willing to take for my business.

Personally I would go for it. I would get a signed contract for the property.

Next I would go and introduce myself to the tenants as the new owner and ask them how soon they could be out because I plan on doing extensive renovations.

I would let them know that I have a key and will be visiting often with contractors.

I would then proceed to market and assign the contract as usual. If I assign it before they are gone it should be a small thing for the end buyer to file an eviction and get rid of them.

This is not that uncommon of a situation.

As a wholesaler myself I agree with Jon Holdman. I think as a wholesaler I am more of a marketer than an Investor.

My basic duties are:

1. Advertising for motivated sellers.
2. Negotiate a great price
3. Market to Cash buyers

Rinse and Repeat.

Not really my definition of an investor.

I don't believe it to be highly ethical and I have found better ways to get buyer leads. For instance why not put a real property under contract at a fantastic price and then advertise it for sale at a great price. Watch how fast the phone starts to ring.

Get a free google voice # and forward it to your cell phone .

I have a samsung model smart phone and it allows me to choose whether I make or receive calls with my number or my google voice number. It is really kinda cool!

We have all been there. Just take a deep breath and offer less than you think you should. Once you make the offer you will feel like a great weight has lifted.

Do not worry about whether or not they accept it , but know that if you never make it it is guaranteed they can not accept it.

Something I found that has worked well for me when available is to e-mail my offer to the seller. I have conducted several negotiations via e-mail before sending a contract to be signed (via e-mail also). Gotta love technology :)

Hope this helps . Good Luck!

In the last six months I have probably signed at least 4-5 deals from CL.

I run a combination of different ads.

Some are simple we buy house ads and some are click-able text link ads to my website and some are click-able image ads and some are a combo of both text and click-able content.

I generally split my posting equally between FSBO and real estate services sections, though I have read somewhere that the services section is supposedly more effective.

I get them under contract and then assign or "wholesale " the deal to another investor.

I have gotten a pretty good response and signed several deals from craigslist ads.

The trick is to post consistently several times daily. At least that is what has worked for me.

I generally walk them through the cost of my money spill. Then explain that I must subtract the cost of repairs. Finally I explain that as an Investor that my company or I require a certain percentage discount to ensure our profit. I tell them it is about 30-40% off of ARV depending on neighborhood variables.

So far this has been working out well for me.