All Forum Posts by: Chris T.

I don't put down any earnest money. Most of the time the sellers are not real well rounded when it comes to this sort of thing and don't even know what earnest money is. It's hard for a person to be in control when they are desperate. They are inexperienced.

Learning from pros has taught me to listen to what the seller needs, agree to provide for them what they need, then finalize it with a signature at the bottom of the contract. It's never really about the words on the paper, but rather, what you can provide them.

My contract says:

Buyer may cancel this contract at any time, and for any reason.

Use a contract with no contingencies to the buyer and make sure you get an earnest money deposit from them.

Here's my opinion of a pretty good start.

Ryan Webber, Nick J, Will Barnard, Rob Huxman, Tim Wieneke, Scott Hubbard, Rich Weese

I don't use Click2Mail but I have in the past. If you go to the website they have a cost estimator that will break down different prices and sizes. I used the smallest SpaceSaver format.

I use Vistaprint and it has actually been cheaper. The software and quality of mailer is great. Their turnaround is slow, about 5-7 days, unless you pay more.

Assuming that you are wanting the service to create, print, provide postage and mail then.....

Click2Mail has the cheapest prices and quickest turnaround from my experience.

But, their software is horrible and so is their quality.

They're fine if you're just using text but if you use graphics then be prepared to send out wimpy card stock with smeared, smudged and blotted art.

In a mentor, I look for someone who has the time to mentor, will provide detailed direction, has relevant techniques for my area, isn't trying to take my money.

I get annoyed with the guru-motivational speaking-hustler types that give you half an answer and make you pay for the next half, any guru that promotes a cruise ship seminar or bootcamp for thousands of dollars, guru's who don't actually invest in real estate for their main source of income, guru's who are regurgitating the same material and selling each other's stuff through affiliate programs, and such.

I would follow my mentor's guidance and direction, master it, then conquer the world.

If I made $20k a month then I would position myself as owner, not owner operator. (Although I don't think I could ever stop doing deals myself because I love it). I would also pay it forward.

As for the Absentee Owners, you can look for motivation in the same ways as mentioned above, but you would also want to include,

Forcible Detainer's - Justice of the Peace (in my county)

Keep an eye on the owners who's names keep popping up on the foreclosure list, etc... They have probably fallen on hard times and may need to cut some properties loose. Although most of them bought too high in the first place which is how they fell on hard times.

Happy Wholesaling! :D

If you are working with a limited budget then you may want to narrow down the high equity owner occupants to the ones that are most likely to be motivated.

Of the properties already on your high equity list the most motivated are (and where to find them):

1. Have a suit filed. Property tax records.
2. Delinquent on taxes. Property tax records.
3. Executor in the Owner Name. Property tax records.
4. Affidavit of Heirship or Probate property code. Property tax records.
5. Code violations. Code enforcement department.
6. 30, 60, 90 days late. You can buy a list. (In your state you can probably get NOD's for free)
7. Probate - county courthouse
8. Divorce - county courthouse
9. Bankruptcies - county courthouse

It takes more time and energy to sort through the list this way but at least you won't be wasting your time and money sending mail to homeowners who have no motivation.

Hi Sage,

The people that you end up making a deal with usually have some type of problem that they are trying to alleviate by selling their property.

I've found that most absentee landlords that I've spoken with are a little more up to speed on how much their property is worth and how to go about getting what they want for the property. They are usually fine with keeping it rented if they have to. They are more educated, better with their money and don't run into financial crisis often. They also seem to have a little bit of a chip on their shoulder when they realize that they are talking to an investor and they try to match your intellect. That being said, they seem to be a waste of time, as compared to owner occupants. The exception seems to be inherited property.

I have more success with Owner Occupants with high equity. Owner occupants are more likely to have the financial crisis that cause great motivation. They are the ones who get divorced, file bankruptcy, can't afford to keep up with the bills and a growing family, fall for the "American Dream" trap of buying a fine home that they can't afford, loss their job, and so on.

It's certainly wise to mail to all high equity owners.