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All Forum Posts by: Michael G.

Michael G. has started 37 posts and replied 340 times.

Post: New to idea of Wholesaling, and I have a ?

Michael G.Posted
  • Wholesaler
  • Bay Shore, NY
  • Posts 359
  • Votes 199

Amazing what BS these dudes try and pull. Not all of them but c'mon! The thing that kills me is that alot of what done in real life REI doesnt really resemble whats in these GURU books and CD's. At least that's been my experience. The worst is the upsell or when they bring someone in to sell some ancillary product that will help you in your investing career usually for some ridiculous amount of money. I dont want to scare poor Kenyatta but just know there are some real jokesters out there. If I had to do it all over again there are a few seminars I would not attend and a few GURUS I would steer clear of.

Bill - You can send the check foor 8.99 to me or did you mean 899 dollars cause thats what the GURU's charge.

Post: Bankruptcy Situation - Could this be a deal?

Michael G.Posted
  • Wholesaler
  • Bay Shore, NY
  • Posts 359
  • Votes 199

Interesting point Steve but the tax receiver still has the property in the owners names. I'm going to the court house and check the last deed recorded on Friday. I sent an e-mail to the attorney who handled the Chapter 7 proceeding for them asking if he could notify them that I would like to buy. Lets see where that goes.

Post: Bankruptcy Situation - Could this be a deal?

Michael G.Posted
  • Wholesaler
  • Bay Shore, NY
  • Posts 359
  • Votes 199

Thanks Dave.

Post: New to idea of Wholesaling, and I have a ?

Michael G.Posted
  • Wholesaler
  • Bay Shore, NY
  • Posts 359
  • Votes 199

Hi Kenyatta - I took a look at his website. I gotta say he seems like a hype guy. He's really pitching on his website. Its really an infomercial if you ask me. Not for nothing I've seen alot of these guru guys come and go. The last guru guy I contacted I told him that his system made sense and I had some interest. I asked him to put me in contact with someone in my area who sucessfully CLOSED deals using his system. That was the last I heard from him. I emailed him (several times) to ask where the contacts were. No response. Ask Zack to put you in touch with someone in or around Logansville, GA who has closed deals using his system. I personally always steer clear of anyone who uses the words automated, simple. The perception is that one has to do little to no work and thats what suckers alot of people in. I dont know this guy personally but there are a lot of gurs out there pumping success systems. Showing copies of checks cut to them or their students that are 2 and 3 years old or have no date on them at all. A lot of these GURU's are selling snake oil. I'm not saying dont get a REI education. I'm just saying be cautious and try and minimize your risk. There is a web site out there that if you do a google search on his mls gorilla reviews you will see reviews of the mls gorilla product. They all happen to be good (really?).

Post: The Truth about Wholesaling!

Michael G.Posted
  • Wholesaler
  • Bay Shore, NY
  • Posts 359
  • Votes 199

HDJ - Keep on keepin on my man! Its only through the bad deals that we learn what good deals look feel and taste like. Mistakes are inevitable in this business and the GURU's? Oh, please dont get me started on them. I see you are from MD. Were you studying under Lloyd and Vicki Irving?

Post: Bankruptcy Situation - Could this be a deal?

Michael G.Posted
  • Wholesaler
  • Bay Shore, NY
  • Posts 359
  • Votes 199

Hello again BP family. Saw a vacant house in my farm area. Searched RealQuest to determine owner of record. Further investigation reveals the owner and his wife had a joint Ch 7 bankruptcy that was discharged 11/08. The owners still have a legal right to sell the house...correct? I have the the name of what appears to be their attorney and the trustee attorney. Who can I contact about buying this vacant house? Trustee attorney? Owners? Let me know your thoughts...

Post: Direct mail campaign~tax liens or bankruptcy list?

Michael G.Posted
  • Wholesaler
  • Bay Shore, NY
  • Posts 359
  • Votes 199

Six sounds good. Sixteen sounds better. Twenty Six might just do the trick! I was reading a book called the Ultimate Sales Machine by Chet Holmes. He refers to these repeated contact attempts as prospecting with "pig headed determination" . In other words, dont stop until I actually talk to the person I am trying to reach. Then he takes it a step further and says if they tell me no... keep trying them until I get a YES. Massive follow - up. He said it took 2 years for him to get an appointment with one of his prospects but it turned into a million dollar payday for him. Very powerful stuff...

Duhhh - Ya think! I'm trying to find a nice way to tell her to bring comps and a repair estimate next time.

She's got one more of my deals that will need a BPO performed.

Post: What do Sales Agents do to drive leads to their pipeline

Michael G.Posted
  • Wholesaler
  • Bay Shore, NY
  • Posts 359
  • Votes 199

I'm interested as a soon to be new sales agent how Real Estate agents find sales leads? Do you actively market for new listings and if yes how? I notice some agents sending me letters after my primary residence listing expired. I would imagine that is one way to find new listings?

Post: Educating Yourself and Making it...

Michael G.Posted
  • Wholesaler
  • Bay Shore, NY
  • Posts 359
  • Votes 199

If by special you mean you no longer want to rely on someone to pay you what THEY think you are worth or you have so much fire in your belly that you just want to do deals all the time even while you are working on your regular "job than yes, IMHO it does take someone special. I think the special is based on desire one has to succeed vs just settling for a JOB with bebefits. Lots of people would rather do REI, or something they are really passionate about for a living but are way too afraid of not having the security of a regular JOB. I want to leave my W-2 but like Rob mentioned its a transition for me. It has to be strategic in order to replace my W-2 income and benefits. So when I go home a lot of nights I become a 5-9er and work on my REI business. Education is hugely important but not to the point of do nothingness (0 scrabble ponts for that word). I've received bandit sign calls from more than a handful of "investors" who thought they would buy properties at market value and rent them out only to be upside down 9 - 12 months later. Just take a look at a half a rehab job done by a so called rehab investor because he didnt get his repair estimate right and ran out of money. Don't skimp on education. I find it so easy to read books listen to CD's in the car and follow BP but I have to make sure to spend a good amount of my free time doing activities that produce revenue. Marketing, calling leads, visiting leads, following up. Short story is you gotta be in the game my man if you are going to make that transition. Balance it out. I'm currently studying the rehabbers that I'm doing business with to see exactly how they run their full time businesses. Some of these guys are flipping 10-20 houses a year. In the meantime I'm just trying to collect wholesaling fees and get deals into my pipeline. It works if you work it and it works if you don't. Good luck.