All Forum Posts by: Chris Coughlan

Hey Mike,

A search on google brings up some comments saying that their system does not work as easily as they make it seem.

I actually purchased the "program" 2 weeks ago after talking to one of their reps for about 30 minutes. I then did a search on them and one way or another ended up here at biggerpockets. It was actually one of your responses to one of my posts that made me realize that the whole finditfundit program is basically bird-dogging / wholesaling. I decided that I wanted to do some more research on the wholesaling process and called Ameraco back 2 hours after I placed the order asking to cancel. I left a voicemail with the sales rep and one with the support extension. I've been calling leaving voicemails since I placed the order and have yet to be contacted. The FedEx package arrived last week and I refused it. I have already contacted my credit card and they say that I have to give them 30 days before I can dispute the charges and be issued a credit. So, that might tell you what kind of company you are dealing with...

Chris

actually if you purchase the e-book it says this at the bottom:

"* 30 Days Free In My Monthly Mastermind Group includes access to monthly coaching calls, and immediate access to membership site. Upon ordering, your Username & Password details will be emailed to you.

Please let us know if you decide to cancel your membership after 30 days; otherwise you will automatically be billed at the rate of $97 a month."

has anyone joined the "Monthly Mastermind Group"?

is this his mentoring program?

thanks,

Chris

has anyone else purchased the e-book?
i noticed at the bottom of his page it says you will then be charged $24.95/month.

thanks,

chris

Hey Mike,

I was hoping you had some suggestions on my last 2 questions.

Thanks,

Chris

Another question.....

As a wholesaler, if I were to put a property under agreement with the owner and then shop to my investors, what happens if none of the investors are interested? Is there a clause in the purchase agreement that gets me out of this? Should I already have been in contact with investors and only proceed with the purchase agreement once I know at least one investor is interested?

Thanks,

Chris

Mike,

In that link you posted regarding the potential deal, what is the best way to find the fair market value? I know there are sites out there like zillow etc., but those are not always accurate. Is the only true way to find the FMV is to take comparrisons of similar properites in the area and what they actually sold for?

Thanks,

Chris

Mike,

So it is absolutely crucial to have a buyers list before contacting motivated sellers? I can see why. Putting the time and effort in to locating a seller/property and having no where to go with it doesn't make much sense.

The reason I'm asking is because there is a water-front property in my town where the seller is trying to sell it on their own. It's a total knock-down and build new situation. The asking price is about 1/2 of what other homes in the area are selling for. They seem pretty desperate to sell quick and have sent out a few emails to the interested buyers list lowering the price. I almost want to approach them with an offer 100K below what they are asking and see if they bite.

Is this something I could gather info on and post on the "Make Deals, Find Partners, Mentors & BirdDogs, etc." forum and see what happens? I know this might not be the standard way of going about a deal, but it seems like a great opportunity.

Thanks,

Chris

Thanks. I've received some great info in this other thread I started as well.

http://www.biggerpockets.com/forums/12/topics/21207-best-area-to-get-started-in-?highlight=

I think you have the order a little mixed up. These are the steps I would take:

1) Establish a buyers list:
A) Network with investors at your local Real Estate Investors Club.
B) Call "For Rent" ads and signs and talk to the landlords who may be buyers for more properties.

Now you will have an "order list" and can go out and seek properties that fit their parameters (area, price, type of house, whatever).

2) As a bird-dog you will have an agreement with the buyer that if you bring a deal sheet to them, which fits their criteria for buying, they will pay you a finders fee or bird-dog fee if they buy it. Then you would be out of the picture and on to the next search.

3) As a wholesaler you would write a purchase agreement up, make an offer and get your offer accepted in writing by the seller. Then you would contact the investors on your buyers list and pitch your deal and see if they are interested in buying it. You will add your assignment fee to the price you are asking from the investor-end buyer. This fee can vary a lot, from $2K on up. If he accepts, he closes the deal with his financing and you get your fee (or some wholesalers get their fee up front).

4) Establish a marketing plan to find/obtain motivated sellers.

5) At this point it is your job to match the sellers with your buyers.

All the info above was pulled directly from Mike's post. I'm sure Mike will chime in if I missed a step or has further advice.

Thanks

Thanks again Mike!
I guess I was confused on the difference between bird dogging and wholesaling because of this article:

http://www.biggerpockets.com/articles/bird-dogging101rb.html

I think I got it now. I'm putting together some good notes.

Chris