All Forum Posts by: Daniel Mendez

Based on what I have read, I need to go to the country assessors website where the property is located and figure out if the home address is different than the mailing address. Right? If so, I saw that the property is owned by a company.

If I am interested in the property, do I send a letter to the mailing address of that company?

Thanks in advance!

0 Votes

@Chris Levarek

Congrats on your huge success.

Can you tell us about your very first deal? Price? How did you find it? How did you fund it? Etc

Also, what got you to take the leap?

Thanks in advance !

0 Votes

Originally posted by @Will Barnard:

Originally posted by @Daniel Mendez:

@Will Barnard

How would you pull such list? Through the MLS?

Title rep or any real estate agent with MLS access can run a search for you for all cash closed transactions and then you just go through them looking for entity names and names that repeat on the list in your area.

Finding the deals is really the tough part and typically, it takes some form of direct marketing, or public marketing plus internet advertising to bring in leads. Door knocking is also a good way to go (at least it is in my area - CA).

And once i get those names of those entities and/or repeated names. Do I just call them and see if they want to be added to my buyers list?

0 Votes

@Thomas Pae

Thomas, yes that’s true.

I'm trying to invest in Ohio right now and all the hard money lenders that i called would only do business with an LLC.

1 Vote

Oklahoma City, Oklahoma

@Efrain Diaz

Efrain, in your opinion what marketing Avenue is working the most for you? Is it direct mail? Social media?

0 Votes

@Will Barnard

How would you pull such list? Through the MLS?

0 Votes

Originally posted by @Jeff Schechter:

@Daniel Mendez Thanks for your kind words. We rarely buy off of MLS... that represents maybe 5% of our acquisitions. We have very tight relationships with certain wholesalers, do some of our own marketing, and also work with some hedge funds.

That is awesome to hear, Jeff.

I am looking to find a wholesaler in my area. Any tips on what I should look out for to determine if the wholesaler is a legitimate wholesaler? Or vice versa what should I look out for to determine if the wholesaler is a bad wholesaler?

0 Votes

Originally posted by @Jeff Schechter:

@Renee Ren We're high on Indy... between us and our investors, we're about 450 doors deep here.

Congrats on your success, Jeff.

All these properties that you are finding in Indy. Have they all been off-market properties?

0 Votes

Originally posted by @Joe Splitrock:

Originally posted by @Daniel Mendez:

Originally posted by @Joe Splitrock:

Originally posted by @Daniel Mendez:

Originally posted by @Joe Splitrock:

@Daniel Mendez you always want to disclose that you may not be the end buyer. That should be in your contract and you would explain it as you walk through the contract.

Thank you for that information, Joe.

What if a seller asks you if you are going to make money off of the deal? They will eventually find out at closing so how does that conversation go?

Just be honest in all cases, but you can tell the truth and deliver the response many different ways. Yes you will make money, but at the time of offer, you have no idea how much. I would tell them. "my goal is to make money, but I take risk by buying properties "as is", so not every deal is profitable".

Do you have cash to do the deals if you can't find a buyer? The reason I am asking is don't mislead people into thinking you are the end buyer, if you have no way to close the deal by yourself. It is better to lose a deal being honest, than to get yourself into trouble by being dishonest.

I definitely have the cash but only if I am using a hard money lender or private lender where I have to pay points.

I am definitely not trying to come out as a dishonest person.

Have you ever had a time where you got a property under contract but couldn't find a buyer? What did you do? Did you end up purchasing the property yourself? If not, how did the conversation go with the seller when you decided to back out?

Just to clarify, you don't have cash. Having access to financing is not cash. Cash is being able to write a check without a lien on the property.

I would never enter into a contract if I didn't have the means and intent on executing it. I want my reputation to be the guy who gets deals done. That is how you get people to bring deals to you.

There are wholesalers who put contingencies in the contract to escape the deal for "any" reason. When you back out of a deal, it never goes well. Usually because wholesalers advertise "fast close" and "cash buyer", so they set an expectation that they can't live up to. This leads to broken promises and broken trust.

I completely agree with your point of view.

I am not trying to put a property under contract and back out of it because I don't have a buyer.

So when you make offers, do you make sure its a low enough price that you can make money out of it? Whether its to buy and hold or flip?

0 Votes

All Forum Posts by: Daniel Mendez

Daniel Mendez has started 95 posts and replied 246 times.

Post: RE Attorney: Dallas / Fort Worth Area

Post: How to figure out the owner of a property that is owned by LLC

Post: 26 units in 10 months and 16 more under contract...

Post: Advice for finding buyers for wholesale deals?

Post: Hard Money in OKC Question

Post: Why I gave up Bandit Signs....Today.

Post: Advice for finding buyers for wholesale deals?

Post: Where to buy 1st out of state property?

Post: Where to buy 1st out of state property?

Post: Wholesalers: A question for you!

Daniel Mendez has started 95 posts and replied 246 times.

Biggerpockets Logo Post: RE Attorney: Dallas / Fort Worth Area

Biggerpockets Logo Post: How to figure out the owner of a property that is owned by LLC

Biggerpockets Logo Post: 26 units in 10 months and 16 more under contract...

Biggerpockets Logo Post: Advice for finding buyers for wholesale deals?

Biggerpockets Logo Post: Hard Money in OKC Question

Biggerpockets Logo Post: Why I gave up Bandit Signs....Today.

Biggerpockets Logo Post: Advice for finding buyers for wholesale deals?

Biggerpockets Logo Post: Where to buy 1st out of state property?

Biggerpockets Logo Post: Where to buy 1st out of state property?

Biggerpockets Logo Post: Wholesalers: A question for you!

Post: RE Attorney: Dallas / Fort Worth Area

Post: How to figure out the owner of a property that is owned by LLC

Post: 26 units in 10 months and 16 more under contract...

Post: Advice for finding buyers for wholesale deals?

Post: Hard Money in OKC Question

Post: Why I gave up Bandit Signs....Today.

Post: Advice for finding buyers for wholesale deals?

Post: Where to buy 1st out of state property?

Post: Where to buy 1st out of state property?

Post: Wholesalers: A question for you!