All Forum Posts by: Jim Holub

I have heard that 1031 exchanges aren't as easy as they used to be. That they are taking a long time to get done. Has anyone found that to be the case?

Interested to know if you are still wholesaling on the MLS and how it's going? As I'm sure you have learned by now, when buying properties on the MLS, the buyer's agent represents you in the transaction. They write your offer to the seller with the terms you wish to offer such as buying the property as-is or waiving inspection or all cash. Some states do not allow this and refer to it as double agency. Some allow it but your buyers agent is a "transaction agent" meaning they don't represent your interests, they just are handling the transaction. The important thing is to make sure your offer states the contract will be assignable. Don't get too hung up on this if the seller won't agree to this there are ways around it. Once the seller accepts your offer, you then assign the contract to another buyer. The original seller of the property pays the commission to both the listing agent and the buyer's agent (your agent in the transaction). When you assign the contract to your buyer and collect your fee, there is no agent involved and therefore no commission.

I’ve tried it but found that, in the more rural area where I live, Google images were pretty old. Like 2017 old. DealMachine has virtual D4D as part of their desktop application now. It’s very easy to use and works very much like the regular D4D mobile app. 

Has anyone had any experience with Gary Russel Real Estate Courses?

Has anyone had any experience with Gary Russel training courses?

@Barry Pekin Great answer. There are all types of sellers out there. Some are going to be open to your help, and some aren't. Gotta focus on the ones who are.

So Bryant I would love to hear how your Sunday calls went. I'm just starting out in Wholesaling and doing cold calls. Not the best way I can think of to spend a Sunday, but you gotta hustle right?

Don't forget wholesaling as well. You may be able to use wholesaling to raise more capital and thereby increase your down payment for a conventional loan, or be able to "bring more to the table" in partnering on a deal. 

I'm just starting in raw land myself. I would love to hear any reviews on educational programs as well.

Here is an update to my Deal Machine experience. The basic plan ($20/mo.) does not track your routes, so unless you plan on doing that manually, the basic plan is useless. So I upgraded to the $119/mo plan. There are other D4D apps that track your route, but they don't have the owner information or skip tracing option included. I've just reached adding 400 distressed properties to my leads list and have gotten one angry call (didn't like me taking a picture of his house), and 4 leads. Of those leads I'm putting in an offer on one of the properties, working with the other two to put together an offer. Keep in mind I'm prospecting in the Denver Metro area which is a very hot market. I've only been focusing on owner occupied properties. I'm not contacting any absentee owners but plan on putting together a separate custom mailer for just those properties. I think the ability to create custom mailers is another upgrade so an added cost. My total cost so far is $588 and I started on August 28th. I haven't quite hit the $792 I predicted in my above post, but close. Still no closed deal though. I also included skip tracing every lead in my estimate above, and I have found that isn't necessary to do for every lead.

The app performs well and is very simple to use. You drive, spot a distressed property, click the address on the map, add it as a lead, snap picture of the property. You can either decide to send a mailer right then, or wait until later. You could even skip trace from your phone right then and call the property owner while you are at the property. Haven't tried that yet. I choose to wait until later to send the mailer because I want to take a minute and review the lead before I send a mailer. The app can be a little glitchy in areas with poor cell service, but generally very good. Tech support is super helpful and have been available whenever I've needed them evenings or weekends. You can earn badges for adding a certain number of leads or for getting your first deal. I don't really pay much attention to the "gameification" aspects, but if your into that, cool.