All Forum Posts by: Joe Gonzalez

Hey Aaron,

I run a full time wholesaling company here in Texas and coincidentally I also come from a music background.

Here are my 2 cents: 

• Just because the Beatles existed did not mean there wasn't a need for The Rolling Stones.
• Just because there was a Frank Sinatra did not mean we didn't need an Elvis.
• Just because there were plenty of rock bands in the 80s did not mean there wasn't room for Nirvana.

All of the great musicians of our time had others that came before them, if you pay close attention you'll notice that they use the ones that came before them as inspiration.

Wholesaling (just like the music industry) is partially a mindset game, just because there are "Big Guys" in an industry does not mean that you should deviate from achieving your own greatness.

I can say with confidence that the belief that there is a shortage of opportunity is false - I say that with certainty. The point I wish you had made was that not everyone is meant to be a rockstar, if someone had walked into that guitar shop wanting to to pick up a flute as a hobby but then were sold a false dream of making it big with a guitar - then yes that is a problem and deceiving.

Just like not everyone is meant to be a rockstar, not everyone is meant to be a wholesaler. Wholesaling is an area of real estate that is meant for those who are strong in sales and deal making. If this is your strong suit then yes, being consistent, focusing on getting better and executing will make you successful - or in this case a rockstar.

Whats going on Noah,

In the past I've hired drivers and paid them a dollar per property, with a minimum of 50 properties per day.

I was very specific with how the properties had to look since it's very easy for someone to just start writing down any house that needs just a little work (no real distress). 

I believe this is better than an hourly basis, you won't have someone take 8 hours to complete the task.

Best of luck. 

Hey Allison,

I'm also in the Texas market, I personally use the TREC agreement since homeowners trust the source it's coming from.

One of the main things you want on an agreement is a contingency which allows you time to do some proper due diligence, we add this clause to an addendum. This gives us enough time to run title and talk to some of our investors for a potential assignment.

Hey Saeed,

Every house is located in a county, first locate the county and then Google {County} Tax Assessor, put the address in and you'll find the homeowners information.

Best of luck.

Great topic guys.

My opinion is that it depends on the source of your cashflow, if you're running a wholesaling operation then you need constant cash flow to operate. This means you must wholesale the majority and keep a few others.

If cashflow is not an issue then holding assets wins hands down. 

Hey Adam,

4-5x ROI on your marketing spend is great for any market, anything above that is phenomenal.

That is roughly what I'm seeing in the major MSA's here in Texas. 

I discovered wholesaling in 2017 - changed my life.

Wholesaling real estate is the process of:

1. Finding a distressed asset 
2. Putting together a great deal
3. Getting that deal under contract
4. Selling your interest in that contract via an assignment agreement

It's an incredible business model If done correctly.

Best of luck

Hey Dustin,

I've done millions of dollars worth of assignment fees since 2017.

Here are some of my best lists:

• Driving for Dollars - make a list of 500 houses - no excuses! - Add to your list Monthly 
• Code Violations - Pull Monthly
• Vacant - Pull Monthly
• Water shut off - Pull Monthly
• Tax Default - Pull Yearly

They key is to be proactive with your marketing and reach out to these homeowners asap. 
The issue with bandit signs is that they are based on chance and not targeted, that's too much reliance on luck involved. 

Best of luck.

Whats going on Steven,

I'm not from the WA area but here's a tip. I would go to a local REIA event or any investor event, they usually have tons of vendors and the investor friendly title companies always show up.

This is how I found my title company.

Best of luck. 

Hey Laura,

Hard money lending is not as tedious as a conventional loan, I believe that the agent is looking for reassurance of this.

Getting this loan is primarily based on the numbers of the deal, if you are getting a good deal then you'll definitely find a lender who can fund the deal fairly quickly. Remind the agent of this.

Just make sure this is in fact a deal, the last thing you want to do is waste everyones time. So it is critical that the numbers make sense.

Best of luck.