All Forum Posts by: Joe Gonzalez

I will say the ratio does depend on your individual closing abilities; with that being said, I took a quick look at some of our closed deals and our percentages are close to the numbers below.

A contract after first offer - 34% of our deals (yearly)

A contract after following up - 66% of our deals (yearly)

Most of your deals will come from follow ups so make sure you have a good CRM and stay on top of those leads!

Hey Tanner,

Congrats on making that decision, real estate investing is definitely life changing.

I personally started off working multiple sales jobs which built the foundation for my Wholesaling company (which is essentially a sales and marketing business) - without that experience I wouldn't have achieved a quarter of the things I have. If you're interested in finding off-market leads which involves you going direct to seller then picking up a sales job would help immensely. I would start by seeing if any local wholesaling companies were looking for acquisition managers, this would teach you how to sell yourself to a homeowner while learning the real estate off-market side a bit more.

Best of luck. 

Hands down use a PO Box.

Many mailbox companies will allow you to write their physical address and the PO Box number as the suite number. This comes in handy if you want to avoid writing the generic "PO Box XXX" version.

I never visit properties anymore, I close all of my deals over the phone (it's a lot more efficient). When talking numbers I'll share the comps with my potential sellers to help them understand the market better.

They are fully aware that their property needs work and that an investor needs incentive to purchase, the comparables are usually market ready examples. 

A good wholesaler is a good educator, if you can properly educate your prospect then you will do incredibly well in this business. 

I saw that I was tagged but I'm not reading all that lol. 

If you want my firm opinion read my comments above.

Best of luck.

All of the methods I provided above work incredibly great. 

Anyone who writes long paragraphs trying to sell someone is NOT closing enough real estate deals lol.

I'll just leave it at that.

You might have accidentally stumbled upon a niche strategy.

I know of investors locking up new builds early on since they projected that prices would increase once the housing development (and nearby commercial developments) were completed.

It's risky in the sense that it's pure speculation but it seems like it worked in your favor in this scenario. Personally I would ensure that the numbers were correct, this includes making sure there is no artificial inflation due to this current market. If I determined that there was truly equity built through appreciation then I would 100% close and resell, it would just be another business dealing for me. 

If you are relying on the 160k for other projects then take the 6k loss as a lesson and move on - that money can always be recovered. 

If your numbers are correct then your acquisition is at 75% of ARV.

From my experience anytime you think a properties repair budget is 10k-15k (double it) so we'll assume 20-30k.

I personally move deals like these all day in my market.

Dispositions should be a breeze when done right.

Here are some methods:

- Investor Facebook Groups

- Market on Bigger Pockets 

- Pull a list of cash buyers from Propstream 

- You can also go on the MLS and view recent cash buyers nearby (one of my favorite options)

If you get the right deal then you should have no problem assigning it.

Best of luck.

Hey Marc, 

It sounds like another wholesaler sent you this deal.

Be sure to ALWAYS verify your comps. There are many ways that comps can be inflated and repair budgets downplayed.

In this scenario I would run my own comps, walk the property with my GC and get a copy of the title report before delivering EMD.