I've done 2 single family flips so far, Not afraid to tell you that I failed and lost money on both due to myself mismanaging the deals. I chalk it up to hands-on education. Education ain't free no matter how you slice it. So I learned a ton And I'm very confident to crush my next one as soon as I recover my cash and credit. So for now, I need to get quicker safer cash. Need to Wholesale.
Basically Looking for a step-by-step guide to what actually works or worked for YOU.
So I've been gathering addresses from my area of distressed property. My questions go out to anyone who's wholesaled a deal before. Figured I'd just ask all my questions and see what I get..Hope it's not too much.
1.) What's the best software, lists, and lead generators out there if I go the route of spending some money on actually finding these deals?
2.) Which strategy for finding the name/address/phone number of the owner do you find most effective?
3.) When you get the owner on the phone, how do you not sound brand new or too anxious? Do you have a script you use?
4.) What contract do you use to lock up the deal? Do all contracts apply to all areas? I'm in Rhode Island and Massachusetts.
5.) How much do you give the owner as a down payment? How many days do you put in the contract to close to give yourself time to find the end buyer?
6.) Do you be upfront and express You are going to find an end buyer and plan to make a little money out of the deal? Do you act like the end buyer?
7.) When it's time to close and disperse proceeds, do you use the buyers' attorney? Are there 2 attorneys involved? Do I need to have my own for my end of the deal?
Thanks so much for reading.
Any input at all would be greatly appreciated.
Steven D'Ambra
Real Deal LLC
