All Forum Posts by: Joe Dube

Good story Ryan, sometimes all it takes is diligence to get things rolling.

Hi Sam,

Welcome to BP!! Tyrone is awesome!! That man works very hard and is extremely knowledgeable. Good luck getting your first one. Let us know when it happens.

Hi Simon,

Greetings from sunny Florida!! Steve is right on the money, I only enjoy the homestead exemption on the house that I live in, all the others I pay the regular tax rate.

Where in Florida are you looking to invest? I live in the Tampa Bay area.

Let me know if I can help...

Great stuff Charles, thanks for the link.

Kim,

Probates have been the type of deal that have made me the biggest checks. The way I go about finding them is using an absentee owners list. You not only get probate deals, you also get tired land lords, divorce cases, and folks that want to get rid of their vacation property. I get a list of absentee owners that currently own property in my county. Everyone that has a last sale date of 20 years or greater are my targeted sellers. All the folks with a last sale date of 6 months ago to today are my BUYERS. So basically all you need is one list for sellers and buyers. The absentee owners that have purchased a home within the last 6 months will typically be a land lord or a rehabber. Make sure to contact them by mail or phone if possible. Send up a smoke signal, you get the idea. All you need is a handful of cash buyers my friend and you'll be well on your way. I definitely ask as many questions as possible about their buying criteria and get all their contact info. also. A couple other quick ways to get cash buyers is go to the for rent section of craigslist and ask if they need more houses for their portfolio. While your at it ask them about their friends needs as well. I always ask if they have any houses to sell or if their friends have any to sell also. I also find cash buyers from the section 8 list, those guys are land lords so get a hold of them and ask your questions then get these guys some houses.

Hope this helps...

Hi Kevin,

Eric made some good points, when you said the realtor says the short sale is approved does that mean she has an approval letter in hand? If so, ask if you can get a copy of it. This will help you determine if the short sale has been negotiated or not. The verbage in the approval letter will also determine whether or not you can assign the contract or if you need to get transactional funding for the deal. I tell realtors that I only make offers on short sales when I can see the approval letter. This saves me and my buyers a lot of time.

I hope this helps...

Hi Nick,

These guys have given you great advice. I track all my marketing to sellers and buyers with an excel spread sheet. I've had months where I get 100 calls and I get 4 or 5 deals that I sell for $12K or more per month. Do you know how much advertising dollars you need to lay out to get 1 contract? Once you figure that out and the numbers are consistent for 3 or 4 months just invest more dollars in marketing to get the # of deals you desire. Sounds simple, and it is if you pay attention to the details when marketing. REMEMBER if you quit marketing then the phone stops ringing and you're out of business. It's that simple.

Hope this helps...

Hi Kevin,

Greetings from sunny Florida!! A quick tip to get cash buyers for your wholesale deals is to obtain an absentee owner's list with the last sale date from 6 months ago to today, make sure the rest of your buying criteria is listed on the excel spread sheet especially the property address. The mailing address should be different from the property address since they don't live there. Send a post card to these rehabbers and land lords pitching your property. Hope this helps... :cool:

I'm glad this makes sense to you. Curt has a very good point that sometimes gets lost in communication. You need to put the property under contract so you have an interest in that property. Then you can close on the deal and resell it or if the contract is assignable you can sell your contract to a cash buyer. I should've explained in my earlier post. If you don't have an interest in the property and try to sell it you are acting as a realtor without a license and there can be fines etc... I'm not an attorney so please DON'T mistake this as legal advice. This is what my attorney advised me in Florida. Check with a RE attorney in your state to be sure. Hope this helps...

Stephen,

Call all the for rent houses on classified ad web sites. These are land lords, right? Ask if they are looking to buy more houses. If so, what type? Tell them you get houses like the ones he's advertising for rent and want to know if you can put him on your buyer's list. Then call them when you have a good deal. The landlord may want to sell the house instead of renting. If so, you have a possible house to buy. This is very simple however, a lot of folks will not do this because they are afraid of the phone or making money or what ever may be. I have a hard time figuring that out. Just take massive action & good things will happen for you. I hope this helps...

I responded in a previous post on how much I paid several years ago for my mentor. I talked with him at length to see if he had the same values and was a man of good character. That is the most important thing to me. I would choose someone who is still doing deals not just selling info. products. The person should have a good marketing strategy for motivated sellers and buyers. Make sure he is associated as the best or one of the best people in your area teaching that particular niche you wish to invest in. Bottom line is only you can answer the question if the mentor is the one for you. Here's a question for you. How did you pick your wife or girl friend? You're going to spend money and a lot of time with this person, basically your future in real estate will be tied to this person. Make sure you get along with this dude. Hope this helps.