All Forum Posts by: Drew Byrd

If I apply for an FHA loan on a multifamily property, will the anticipated rental income increase the total loan amount that I can qualify for?

If I, as a wholesaler, were to ask a real estate agent to generate a comparable sales statement for me, what's in it for them? I understand rehabbers can offer to list the property with that realtor, but how can a wholesaler make a good deal for them as well?

I have a list of about 1000 absentee owners. What is the fastest, most accurate, and most cost efficient way to get all of their phone numbers so I can market to them?

OPINIONS NEEDED: 

Should I reach out to a pre-foreclosure lead THE DAY they find out their house is going to be closed on, or would it be better to wait a few days or maybe a week before trying to get in touch with them about buying their home?

I'm a wholesaler who uses cold calling as my one and only marketing method, as I'm operating with little to know money starting out. I use Spokeo to get the phone numbers of my leads, but I've found that the information is only about 50% accurate. Does anyone know of the best skip tracing technology available? I don't want to waste what little time and money I have.

Does anyone in the Memphis area have any good recommendations for a good residential contractors? I'm trying to put together some estimates for a repair sheet. Thank You!

I have an upcoming vacation in which I'll be out of state for a week. If I happen to get a house under contract between now and then, and the closing date falls within the week I'll be out of state, can I legally have someone else close for me? An attorney perhaps?

And if so, being that I'm a wholesaler, what are the complications of having someone else perform a double close or assignment of contract for me?

Can anyone explain to me why property tax default leads are a good lead source. I've been told they can be extremely profitable, but I seem to be missing the point. Aren't unpaid taxes considered a liability for an investor?

I've decided that direct mail marketing isn't yielding the results I need and I've decided I want to skip trace my pre-foreclosure leads and call them directly. Aside from the obvious fact that cold calling strangers is a bit intimidating for both me and my potential clients, there is the issue of coming up with what to say to them in the first place. Will they be concerned that I have their phone number and address? Also, the foreclosure process is definitely an emotional one, one of which many people are prideful and touchy about. What can I say to let them know that I understand their situation and may be able to help? What questions do I need to be asking once I get them to stay on the phone with me?

If you call your pre-foreclosure leads and have a "script" that you read from, I'd be very grateful if you could share it. Or any other suggestions are equally appreciated.

Glad to hear you're breaking free from the Rat Race. My father is the same way. If you're starting with little or no money, wholesaling real estate is a good option. Sean Terry is the online "guru" that I learn from. There are also lots of great books on the subject on Amazon if you just search Real Estate Wholesaling. Best of luck to you on your journey!