All Forum Posts by: Account Closed

J Scott in my example, I meant that they owned the property free and clear and it was worth $150k. Sorry, didn't make that quite clear. I was just trying to give an over simplified example.

Martinez Harris, staying motivated can be tough at times, for everyone. Here's a great quote:

“Every single person I know who is successful at what they do is successful because they love doing it.”
-Joe Penna

If you love doing something, then it shouldn't feel like "work." You should feel ambitious to do it every free minute you have.

My advice is to find something that you're passionate about and set aside some time for that everyday, no matter what you have going on that day. This will make you look forward to each and every day. It will also get you in a great mood to accomplish things.

Keith Lutz, Sean Terry does have a phenomenal podcast! I listen to them all the time and get tons of motivation from them.

Wow Todd Hutcheson, you really went all out with this post! Thanks for all the great info.

I'm a big believer in Craigslist as well (I like that you had that 1st on your list.) I can honestly say that I've probably gotten the majority of my buyers list from this posting ads here.

Once you have at least 4-5 pre-written ads that you can rotate through, all it takes is about 5 minutes per day (or every other day) to post them. It's 100% free and yields great results. There's also a really cheap paid version where it will repost your ads consistently.

I've been posting for almost 2 years now and still getting a solid 3-10 new potential buyers per week. I know they are not all great buyers, but the more the merrier. And if you're getting that amount of buyers leads in on a consistent basis, then there will definitely be some "diamonds in the rough."

Great points Andrew Massaro. It's an informal letter so it doesn't need to be perfect. It looks better imperfect and comes off more personalized.

And I would definitely look into having a company write them for you if you have the money. I remember writing my first yellow letter campaign from scratch. 250 letters and and about 15 hours later I wanted to cry..haha.

If you are really on that shoe string budget, then keep doing what you're doing. But if you have the money, or as soon as you get your first check, hire someone to write them for you! It will save you loads of time that can be spent doing stuff that will make you money.

Alex E., the reason 100% equity homes are sometimes better to wholesale is because they have more profit potential. If you can get a house under contract for 100K and they have 150K equity in it, you can make around 50K. If they only have 25K equity in it then the profit potential is only 25K (and that's if they literally "give" you their property at no cost.)

Welcome Austin Gruenweller. I love seeing new people join the site but I gotta say, I was a little turned off by your post here.

Karen M. gave you some great advice there. You can't start off saying something like "Though I'm not an investor, and likely have no hope of ever becoming one.." and expect to ever go anywhere in the real estate game.

If you just look at your situation as being unfortunate or unlucky, you will never even move in the direction of becoming a successful REI. No matter where you're at right now, you have to somehow find things in your life that you can appreciate. Once you see how great you really have it, then you can start moving in the right direction.

There have been countless stories of people starting out much much worse (in a position that would make you look like a king) that have persisted through life, against all odds, and become idols that millions of people look up to.

Sorry to be a little harsh there but I just wanted to give you some "tough love" and hopefully motivated and inspire you a little. That being said, I hope you can see where you're at right now from a better vantage point and move in a better direction.

See you out on the field! (or forum)

Yes that's something I didn't exactly make clear Will Barnard. Solving other people's problems is something you SHOULD focus on in terms of dealing with the sellers in RE investing. They have a problem (their house) and you are coming to make their situation better.

I'm mostly talking in terms of wholesaling here.

Thanks for the recognition Martin CS. It just doesn't make sense to spend you valuable time on the problems (both in real estate and in life).

Look at all the people that waste years and years of their lives, suing people over a deal that didn't go their way. In all the time they wasted in lawsuits, they could have gone out and done many many deals, built a successful business, and become extremely successful in life.

If you always focus on problems, then you're going to be trying to fix problems for the rest of your life. On the other hand, if you always focus on prosperity and things that work out for you, then you're going to get more of that in life.

In other words, look for the other loyal wholesalers and spend your time with them. Don't spend your time arguing with the disloyal ones.

Welcome Ivan Alexander too! Josh has a great point in making your own new member intro. It's a great way to get introduced into the BP community.

Agreed..I would just pay the contractor whatever he is charging for the rehab then keep the profit for yourself. Give him a bonus too if he does a good job and you plan to work with him more in the future.