All Forum Posts by: Joe Gonzalez

One of the main differences between flippers and buy and hold investors is that buy and hold investors don't need to make an immediate profit- this usually makes their offers more competitive.

To take it one step further, not all buy and hold investors are created equal.

Some of my best buy an hold investors are those who aren't even in real estate full time: think doctors, attorneys, accountants, engineers etc. most of them simply want to park their money and take advantage on tax incentives, loan pay down, and compounding interest. They are okay with a modest discount without having to compete with buyers at an auction or the MLS.

It's wise to have a diverse pool of buyers but I would highly suggest you build a buyers list of these kind of buy and hold investors. 

Hey Devante,

It is common for a buyer (in this caseyou) to commit to taking care of closing costs on an as-is cash deal.

Once you assign the contract then the assignee (new buyer) will inherit that agreement and pay for closing costs.

I'm doing between 7-10 deals a month right now.

Here is what I'm currently doing.

- Billboard Marketing

- Direct Mail (Government Lists in multiple MSA areas)

- Website 

- Cold Calling (Mostly land for now)

The key is to always stay infront of your target audience.

Hey Chris,

I see a lot of opportunity during this time. It seems as though sellers are coming down from the frenzy of this past year and realizing times have changed, it will take awhile for most to catch up but I am already seeing the change in the market. Just a few months ago most wholesalers were making ridiculously high offers just to have inventory, that tactic is no longer working. I project seeing a lot more deals with deeper discounts in the near future. 

Congrats on making the decision to wholesale real estate, I started back in 2017 and it completely changed my life.

Here are a few tips for someone who is new:

- Wholesaling is a sales and marketing business, study both religiously.

- You get what you put in, dont treat this as just a hobby. 

- Read, Read, Read. I recommend "Secrets of the Millionaire Mind by T Harv Eker" & "The Compound Effect by Darren Hardy" for those starting out.

- Have integrity. Never lock up a house just to get something under contract. Only a lazy investor doesn't know how to do their numbers, strictly make offers that you know make sense as an investment.

- You're in the rejection business, get used to the word no. Most sellers don't have to sell below market value so many will pass on your offer and that's okay. You are looking for a seller that values their time and convenience and is willing to trade some equity in return.

- Stay consistent - if you can master the art of consistently showing up then you will win the game of wholesaling.

Feel free to reach out if you need anything!

 Yeah, those examples fell extremely short. I know that you regret those weak points so I'll drop it.

Enjoy your weekend!

Wait wait wait, so you're telling me that you're able to analyze every spec of dust with your little video walkthrough?? lol. 

If you've never heard of anyone buying a house, an apartment, or land virtually then you have an outdated model, case closed.

Best of luck.

Currently doing 7-10 deals per month.

I found this to be my sweet spot, this volume keeps us stress free without having to bring more acquisition managers on board. My overhead is slim, team is small and months are profitable. 

I wouldn't change it for the world.

Hey AJ,

I challenge you to drop the formulas and ask the seller what he/she needs to move on from this situation. I always start the conversation this way, once I understand what they need I then know how I can help.

Keep in mind if there is not enough equity in the property then the traditional wholesaling numbers might not work, if they want to just have the mortgage paid off and move on then that might pencil out. Some sellers facing foreclosure still want top dollar so it is our job to explain that time is of the essence.

Either way the goal is to be of service to them in this situation, the money will follow. 

Best of luck!

All marketing works but the main question comes down to what kind of a business you want to run.

A more proactive business - Cold calling, SMS, etc 

A more passive business - Direct Mail, SEO, Billboard, Radio etc. 

I locked up 7 new deals this week, here is a breakdown:

1 Billboard marketing

3 Direct mail (post card, two of these deals are from the same seller) 

3 Cold calling (code violations, I have American callers)

I will always suggest to choose both a proactive and a passive marketing channel when starting out.