All Forum Posts by: Christopher Salazar

I personally make daily and weekly goals. I track every 15 minutes of my day so that I can operate at maximum efficiency without wasting time on activities that won't generate revenues. Time management is key, especially in a competitive market. What I make sure to do every week is send 25 letters to targeted sellers, make 25 phone calls, have two meetings or study sessions pertaining to REI, and make 4 offers.

Listsource.com is the easiest. You can target whatever demographic you choose there. It is definitely worth the cost per list. I have had the most success with absentee owners. 

For buyers, I would network with people here on BP as well as attend your local REIA.

I'm not sure about that but I use the 70% Rule for my deals:

70% ARV - Est. Repairs - What I want to make on the property = Max Offer

I would personally start marketing to distressed sellers through direct mail (yellow letters or postcards). That's how I started, and speaking to sellers everyday really helped me to understand the market, get to know the best neighborhoods, and understand the best ways to negotiate with a motivated seller. 

Even if a lead that came in didn't want to sell, I've gotten a few that are looking to expand their portfolios and so I added them to my buyers list. It's just a great way to dive right into your market and get a feel. 

I just had the exact same thing happen to me today. I spoke with the seller and was completely honest with the business that I'm in and my model. He really appreciated my honesty and we are moving on with the deal with no POF letter. Being honest and doing good business not only helps build rapport with the seller and work out the deal, it builds your brand's image in your marketplace.

I want to save money and not have a brand new contract drafted. Would you advise using the top downloaded contracts on BP and just get them revised by an attorney? What would you do? 

Jim - I will check up on county records - I appreciate the advice

Hattie - Very good info, I will be sure to start building relationships with local realtors as well as begin attending the local REIAs

Thanks guys!

I'm just beginning in wholesaling and trying to develop my list of cash buyers. I live on a college campus so should I just focus on getting ahold of the landlords who rent in the area? Or should I look elsewhere? Thanks in advance for your advice. 

Awesome - thanks Dave!

OK, I am just looking for some words of wisdom from experienced investors so that I can do wholesaling the right way. Right now, I'm focusing on building relationships with sellers and cash buyers. I'm learning about the importance of marketing as well. As I understand, many wholesalers get a bad name, so I want to develop expertise so that I can do it right. After evaluating all my options, I feel that this is the best way for me to get started investing. What do you guys suggest? What have you done to succeed in your business? I'm so eager to learn and I appreciate any advice!