All Forum Posts by: Rob Powell

Appears to me you already know how to find them. My advice would be to select two marketing methods and begin to apply them consistently.
Even if they don't seem to be working just tweak them and stay consistent, you will get your deal.
Hope this helps. Good luck!

If you are sure of your numbers then you need to increase your efforts on marketing the property.
Get some more buyers looking at it.
Then if they all only offer in the $15000 dollar range you can be sure you most likely overpaid.
Explain to the owner as best you can. Try to renegotiate. If that proves futile, just bow out gracefully losing only your earnest money.
The sooner you handle this the sooner the seller can begin their attempts to sell again.

Being a wholesaler your "real" business is marketing.
So no matter where you are located you have to be consistently marketing for deals.
Here are a few suggestions that have worked well for me.
1) Bandit signs
2) Online ads [ craigslist, back page,e-bay classifieds, oodle etc...]
3) Get a website
4) business cards

These are just a few ideas, but my point is that the more marketing you do the more deals you will find.

Hope this helps, Good Luck!

Paid sites like Real Quest or Property Shark when used in conjunction with several of the free sites will help put you in a close ball park range.
I use Real Quest and pay $70/mo.

As a wholesaler I have found that I can put $0 down as an earnest money deposit and no one has questioned it YET. This limits my risks.
But if you cant move the deal within a few days chances are you offered to much.

Brian has hit the nail on the head. If you follow his advise you will see results.

Look in the BP resources under files. You will find a pretty good one.

Motivated sellers do not have time for realtors.
If they are contemplating a realtors assumptions chances are that they are not yet motivated enough for our purposes.

Thank them for their time and follow up with them in a few weeks.

If you dont have a cash buyer list yet.
You can post an ad to craigslist and other similar sites .
Say something like "Great Wholesale Deals! Cash Buyers Needed..."

or you can simply find your first good wholesale deal and as you advertise it the cash buyers will find you. As they contact you simply ad them to your list.

Great Job!
Analyze your comps and get a good solid market value for the property. Then go see it and determine a conservative price on repairs.
Next just follow the wholesalers formula to get you maximum offer amount market value x 70% - repairs - you profit = Max OFFER
And remember try to get a number from her first. If she insist you give her a offer first just jokingly suggest $1.00 and ask again what is her price.

Hope this helps!
Good Luck