All Forum Posts by: Gregory Guillet

@Jon Holdman Yes, yes and yes... I do not want to be that "gullible newbie" spending thousands of dollars just to end up with nothing (literally). I like the fact that this forum is here. I would have went back on Monday for the follow up...

Hi All,

I recently sent out my first DM campaign. 374 pieces to absentee and out of state owners with 60-100% equity. It hit homes on 11/17. I have had NO responses. I know the whole idea of having to hit people with multiple touches before they call but everyone else I have talked to has received at least 5 or 10 calls on numbers like this. I know my message is good because it is in line with many others out there. Just wondering what I'm doing wrong. I'm sending to the CT shoreline and the towns are fairly affluent but houses here are sitting on the market for 120 days or more so I really expected a better return. Also, I received 9 postcards back. Out of 374 is that an average undeliverable adddress or should I be worried that the lists are not up to date (I used ListSource)? Thanks so much, -kim-

@Jay Hinrichs,

I may not have been clear in my initial post... I wasn't asking for help on how to sell.  I have experience selling, I'm just new to wholesaling.

I'm not looking for a verbatim script to read off to someone.  I was asking for help on how to guide the conversation with a prospective seller.  Particularly how more experienced wholesalers lead their conversations with prospective sellers to inform the sellers of what they (the investors) do and determine if they're the type of sellers they're looking for.

Say someone has tons of student loan debt, no savings, only asset being a 10 year old car worth $3,000, damaged credit due to some student loans in collections because salaries didn't match debt over time and couldn't keep up with payments, and who currently doesn't have a full time job because their hours and fees were severely cut. 

What would you do in this situation if you want to get positive cash flow quickly and efficiently (and legally) as possible?

I would recommend applying online, much easy and instant approve if you have your DD214 on hand, you would need to apply for the membership first and then the business account.

Has a veteran you would need to have an employment to apply, doesnt matter what employment as long as you put you make money on the membership application.

@Gregory Guillet

My advice to you is to contact people who are doing what it is you want to do and in many cases where you want to do it. I can't tell you how helpful many here have been. I try to normally offer something of value if I can but sometimes that was not possible either because they had everything they needed or the strategy was not a fit at the moment. On the flip side I have tried to help whomever I can. 

 You dont have to be a retire veteran, if you ever finish boot camp on any military branches, you already qualified. Even if you join the military and then got kick out 1 month after boot camp, you are still eligible.

Another way is through family member, I had my sister join since i am a veteran and if you are blood related to any veterans then you are already eligible.

I'll try to be brief.  Looking for some advice on how to start out:

Goals:

• Cash flow focused (SFR or Small Multi)
• 'Retire' in 10-15 years (expenses covered, $7K a month)

Issues: 

• Full time job
• 8 month old daughter
• Barely any free time
• Very little initial investment capital (putting together $20K)
• I live in Monterey, CA area (high entry cost)
• No REI experience

Positives:

• Stellar credit (~815)
• Saving $1500 a month to invest with
• High paying job for 8+ years

I've been doing a ton of research/learning, and my initial idea was to finance a $75K to $100K turnkey from a highly reputable company in the midwest cashflowing $100 a month.  I would reinvest cashflow, and should be able to come up with $20K a year, so I could do 1 turnkey a year... but would take a while to accelerate.

I read another thread where somebody was in a similar boat and they recommended finding a JV with a flipper to help build capital. I'm open to something like that, but I'm not really sure what I could bring to the table on something like that, since I have no time, not a lot of money, and no expertise. :)

Anybody have any suggestions/ideas for me?  I know there are tons of ways to make money in real estate, but I feel like my options are very limited right now.

@Account Closed @Shaun Weeks

Thank you both!

I'm looking into a multi-family unit that I can live in and rent out. The goal would be to live for free and maybe even generate a little extra cash flow. It will be my first home purchase and I'll plan to live there for at least one year.

Similar to Miriam, I'm also planning to wholesale/flip homes to help generate more cash and buy more multifamily properties.

Hope that helps!