All Forum Posts by: Dan Williamson

Hi @Jose Castillo, I'm getting about a 5% response rate and am constantly following up with those who seem motivated. A few have been referred to agents who could solve the problem better than I could. And, of course, collecting those "no's" only cleans up my list.

Hi @Jose Castillo,

As long as you're getting your message out to them, and you're consistently mailing, the color of the ink probably doesn't have as big of an impact as you might think.

I started with yellow until I ran out and went to white paper with purple ink until my wife told me (I'm color-blind). Then I switched to printed letters with my logo. I've also thrown in some creative postcards. All have given me about the same response rate.

Hope this is helpful.

Hi @Kerven Jean,

I’m not sure exactly how it works in NJ, but this is how I would go about trying to find the Personal Representative or Executor (this is the person responsible for taking care of the estate in probate). First, I would check with the county assessor’s office to see if the property is still in the name of the decedent. Next, go to the county clerk’s office and inquire about the probate case itself. If you have the name and date of death of the decedent, a quick Google search of obituaries should help. They should be able to pull up a case number for you. Because this is public info, you should be able to request a record of this case from the clerk or get it through their website. It’s public info, but it’s not free. Usually, it’s only a few dollars. Within the records there should be a sheet appointing an Executor/Executrix/Personal Representative (these are all pretty much interchangeable). This page should have all their contact info.

That’s how I would go about it. Good luck and remember, these can be very sensitive situations so look to help them first.

I hope this is helpful

Hi all, 

Thanks for the great info!

What sort of contract do you use between the wholesaler and the end buyer, if any? Or do you just bring the end buyer to close and have them sign as the "assignee"?

You're right, as long as I am continuing to be open and honest with the seller about their options, there should not be an issue. 

I would honestly and openly lay out the options that if they want cash next week I could introduce them to an investor who could make that happen, but they would only get $X (because investors invest to make a spread). However, if they clean it up and are willing to wait and sell it retail, they would get $XX. And finally, if they are willing to make all of the repairs and updates (like an investor would) as well as wait to sell it retail, they could make $XXX.

Also, I did not mean to imply that I walk into a house that could go on the MLS in a month for $250k and say, "What a dump, this thing would go for $150k on a good day. I'll give you $100k. Take it or leave it."

Good morning all, 

I've been wholesaling for a while and have been tossing around the idea of getting licensed. After weighing the pros and cons, there only seems to be one lingering issue with which I am struggling: the fiduciary responsibility of an agent to the seller.

If a licensed agent has a responsibility to get the most for a seller, how can the same realtor as a  wholesaler/investor low-ball a seller knowing they can turn around and assign it to an investor who can rehab and get a much higher price? Or even just clean it up and sell it retail for more?

Hi @Chenelle Tucker, 

Just curious, any updates on the Connected Investor subscription software?

Thanks

Hi all,

I'm just curious, when making offers in competitive markets, have you ever had to "sweeten" your offer? If so, what are some of the oddest and most creative offerings you've made or heard of someone making?

I know that wholesalers will offer to help people move, clear out junk, throw in some cash to help with moving expenses or gas, but what are the most ingenious and imaginative offers you've come made or heard of?

Hi Kate,

Please add me to your list as well, [email protected].

Is this pricing typical for your properties?

Thanks

Dan

@Ray Agosto, I would look into the permit costs to add bedrooms to the basement as well as the code requirements (i.e. having closets, recessed windows, alternate exits, etc). You may have to chat with a contractor in your area about it. That could turn into a bigger project then you might expect so make sure the numbers work even with a variance for unexpected costs.