All Forum Posts by: Clay Walker

@Dennis Fernandez

My goal is to have freedom! The business that I’m currently in doesn’t even come close to allowing for that.

I’d like to actually be able to take a vacation with my family for a change and not have to work holidays. I want to be able to have some weekends off and it be ok for me to turn my phone off and not have to worry about somebody calling in and getting a shift covered.

I’m in need of change professionally to make my personal life better.

I’m going to be diving into wholesaling head first very shortly because I’m sick of what I’m doing right now. I’m considering getting a real estate license for a couple of reasons.....

1.) I can get my own comps and get them more quickly myself.

2.) With the recent law change in Texas, I’ll know without a doubt I’m doing everything legally.

I’m reaching out to everybody to get some advice on the good, bad, and ugly of having a real estate license in Texas while wholesaling property so I can weigh the pros and cons and make an informed decision. Thanks everybody!

I have a deal lined up right now where the seller is wanting earnest money today. I have a potential buyer for the property lined up already and whether I follow through on this deal or not is going to be contingent on if I can make the quick sale. This house needs zero work done to it so it's move in ready right now. My question is that of legality..... What do I need to do to make sure I can't be sued or have any other legal ramifications if my potential buyer doesn't follow through with the purchase and I back out of the deal? I'm not so much concerned about getting my earnest money back as I am the legal side of the transaction. Thanks!

Thanks for the replies everybody. Sorry it's taken so long to respond back.

@Greg H. Are you saying to use an agent to build an equity list? I am going to get comps on any property before putting under contract.

@Sean OToole I'm going to do a little digging around on the site for some of your previous posts.

@Claire Trammell Yes, I believe you're right about current home value option costing slightly more per lead.

Bump. Anybody?

Bump

So I'm trying to refine my equity list on listsource.com and key in on the mid level price range houses in my market.  My first ever mailing that I sent out I didn't specify a price range so I got a few phone calls from sellers with homes in the upper range of home prices for my market but I want to specifically target mid range value properties.  On listsource.com, there are a couple categories that I think can help narrow this down; Current Home Value (which uses an AVM, whatever that means) and Total Assessed Value (which is what the county values the home at).  My assumption is that it would be best to use the "current home value" since it tries to assess actual market value but I wanted to get some opinions from folks that have used either one or both of the criteria before I go about purchasing another list.  Thanks for any help!

I sent out my first mailer a month ago that was just a basic letter telling the homeowner I wanted to buy their house with a hand signature at the bottom. I sent out 496 letters and gotten roughly 100 calls (I think my name is the main reason why such a large number of people are responding). Anyways, I realized a few things during the whole experience.... 1.) I'm terrible at talking on the phone to sellers. While I'm talking to them I get nervous because I really don't know what to say and how to say it and that nervousness has led me to not even calling back potential sellers. Yes, VERY bad for business and I know I'm going to have to get over it and do it to be successful. Need lots of help here!!! 2.) I REALLY need to set up a call capture system. The amount of calls that come in requires some form of professional voicemail. 3.) I wasn't prepared for so many phone calls. I got hammered for 3 days straight and got overwhelmed very quickly by the influx of calls. 4.) I need to have a clear plan of what my goal is BEFORE sending out anymore mail. Am I going to wholesale? Fix and flip? Buy and hold? 5.) I need to get financing in order. Currently, I have no for sure way of funding a deal but I took the chance anyways on sending out the letter and I think that's been a big mental hindrance for me because I just don't know how I'm going to pay for a deal if I were to get one. 6.) When getting a list, make sure you place a maximum home value in the parameters on wherever you're getting the list from. I got a few phone calls from homeowners who's home is worth $350k-$450k. In my market, houses in that price range take a while to sale. Really the whole point of this post is to reach out to the BP community for help with talking to sellers, getting over the nervousness of talking to sellers, and trying to find out what it is that some of you do to make your phone calls with potential sellers productive and successful. Any help is appreciated!! Thanks!!!

The title says it all. They're expected to raise rates another .75% over the next year so curious what impact that will have on real estate investments. I'm brand new with no investments yet but wanting to play the market correctly to try and avoid catastrophe early on in my investing career.

@Brent Hill Glad you at least are making some profit on your deal and I really appreciate you sharing what you would do differently on your next one. I'm thinking if I join the program I will tell them I want my first 2-3 deals to be wholesale deals and then look into wholetailing after that. I'm ready to hit the ground running and get some things done.