All Forum Posts by: Justin Morgan

@Muhammad Sharif Yes I list, do short sales, rehab and also wholesale.

I ask myself often "is this too much". Yes I have a team... assistant, short sale processor, and buyers agent... and me. It did NOT start this way... I grew into this.

My MOST lucrative deals, with the littlest amount of time spend on the deals has been wholesaling... BUT I could never make a living doing just that in my market. So for now I do all the above until I can figure out what "really" pays well and consistent and do just that... or that might just be a pipe dream of the Guru's that sells on stage.

For now my business works and I'm always looking to make it better!

Start with ONE nitche, perfect it and if it keeps working go to the next. As @Russell Ponce mentioned... wholesaling does not work in his market right now. But there is always a niche that does work!

@Muhammad Sharif What is it that you want me to "elaborate" on?

My system is "outwork everyone" and "never leave money on the table"... especial leads you pay for!!

@Phil Z. I just recently got started with "We Buy Houses" as a licensee so I can't answer directly just yet. Outside of that I run direct mail and radio under "435-Sell-Now or SellNowUtah.com... We stay busy enough with traditional, short sales, and a few rehabs at a time.

WHEN... I end up in a home of a prospect/lead I convert better than 50% of the time, but I try to screen well to end up in the right properties.

@Russell Ponce I ran into this a few years ago with short sales. Every lead was upside down, so we started to play harder with the short sales game.

For us a property that could truly be wholesaled is about 1% of our leads. However wholesaling did account for 20% of our revenue last year. Another 20% to rehabs, and 30% and 30% with short sales and traditional... roughly.

I WISH I could wholesale FULL TIME but I can't find enough properties.

Having many tools in my belt allow me to have a business that is good and it supports me and my team. When I get a lead I want to convert them into revenue. It is probably a strengh and weakness.

Two Observations:

1. Many BP members ask about getting a RE license...

2. Many want to start out wholesaling properties.

You might find it helpful to think of a real estate license as a wholesale deal (3-6%).

I'm an investor first and a real estate agent second... when I have a property I can't pay the sellers desired price, I list it and sell it. When I have an approved short sale I can't pay the banks approved price, I sell it (often times getting BOTH sides (6%)), when I have a wholesale deal, I wholesale it. There are not many deals I miss, not many leads I can't convert (to something) when you have "the 3% wholesale deal" as a backup.

This will allow you to only buy when the deal is really sweet... otherwise 3% is alway a nice backup.

Hope that helps!.... what are your thoughts?

@Deneen Martin-Mason Is your friends property listed for sale with a realtor?

When you say "transactional funding"... do you mean?... https://www.youtube.com/watch?v=dWeGLIQEDl8

If yes, then YES you can.

However the condition of the property, end buyer, and listing details will come into play.

You will want put in an offer, get repair bids, comps, and ARV value together to know you beginning and end price. I suggest you find someone to negotiate the short sale, someone that understands working with investors.

@Deneen Martin-Mason YES!

What is your question?

Welcome @Nate VallineGlad to have another Utahn!

Please explain for me what "bulk rental financing" is?

What does your "NOT Subpar" title company say? Who is doing the search for you?

The only thing age has anything to do with is an excuse.

"Just Do It"...

"Fake It Till You Make It"..

"Kill Them With Your Smile"...

"Fail Faster"...

In the end age has nothing to do with it. People need problems solved!