All Forum Posts by: Chris Williams

Jealous you're off to New Zealand! How amazing! I try to automate as much as you can so you don't have to worry about time zones, etc. Best of luck!

We were military and stationed in Europe for many years.  It seems to me that your favorite title company would be the best resource for solving a lot of your closing processes.  So much can be automated, as you know. 

I'm going to put a word in for living abroad...and I can't think of a more beautiful place than NZ.  I thought that I could wholesale while in England, but the banks hold the deeds, so I couldn't do sub2, which was my bread-and-butter for a season.  Money was expensive over there and at the time, I didn't know how to get hard money to do rehabs.  So I ended up finding houses to buy near bases in the US, and settled on doing LTRs in Texas.  

@Cameron Chambliss, primarily focus on creating a system for connecting with property owners and sourcing deals rather than establishing your end buyer list. You can do both simultaneously, but the former is much more challenging than the latter. If you have a quality deal under contract, souring an end buyer is not as difficult as you may think. There is a plethora of investors and flippers in metro Atlanta who are hungry for a good deal. Research and familiarize yourself with PropStream. The platform is widely used amongst wholesalers to source deals.

Welcome! My primary experience recently w/ Atlanta wholesalers has been mispriced properties due to the additional margin added. Just have solid comps, ARV numbers, and of course good clientele. Just put yourself in the shoes of the other side of the deal and consider what numbers would make sense for them.

Currently using Batch leads which maxes me out at 1,000 texts a day, does anybody out there have a program that they recommend that is affordable and allow me to increase my volume of texts per day? 

Many wholesalers motives are to make a quick buck. They are more motivated by the payout than building a relationship. Agents are also susceptible to this, but tends to be more prevalent in the wholesaler community. My guess is that their mentors are similar, no barrier to entry, and no major organization or entity that holds them accountable for ethics. 

This is also why you will see most deals in the not so favorable areas as it is easier for them to prey upon those sellers. I've walked through a property with a wholesaler and when I walked in I told him the ceiling height here is a big factor for resale and I can't use the comps he sent me. He was surprised and when I asked him if he thought it was a big deal he told me: NOT AT ALL! Lol.

They have decent deals from time to time, but they are usually volume based, not in tune with market, and more motivated to push a sale than to really see if a deal is good or not. Take their ARVs and cost of rehab with a grain of salt. Do your own due diligence and don't believe the hype. You'll believe it when you see it. Sometimes there are good deals tho

Are you working with actually licensed Agents? I recommend finding ones who are licensed, experienced in house flipping themselves, don't allow JVs,  and are actually selling to end buyers instead of other wholesalers. 

There is a huge problem with unlicensed wholesalers and Joint Ventures here in San Antonio. Work with Investor friendly Real Estate Agents who are held to the TREC standards. 

I’m about ready to give up on wholesalers! I’ve wasted a lot of time going and looking at “a jewel of a deal”. Here is the latest example from yesterday

This is how they advertise it, $180,000

“If you’re looking for a great investment, with great bones and endless possibilities, this 3-bedroom, 2-bath gem in New Braunfels is it! The roof is 5-7 years old and the foundation was updated 5-7 years ago so the big stuff is already taken care of. All it needs now is a little TLC to bring it to life—think fresh paint, new fixtures, etc.

The cabinets, floors, and walls are all in good shape, so you’ve got a solid starting point. It’s the perfect opportunity for an investor hunting for a smart deal.

Located in a great area with a charming downtown, awesome local restaurants, and plenty of outdoor fun by the Guadalupe and Comal Rivers.

This is one of those homes that doesn’t come around often—a solid investment with tons of potential that won’t take much to make it shine.”

The county has it appraised at $188,000 and here are some pics.  

My question is how can someone be so far off on value and continue to keep their job?