All Forum Posts by: Reuben Stewart

@Jose Diaz 

2014 has been my best year so far wholesaling and buying... so far  ive managed to spend $2700 a month in marketing from Jan 2014-May 2104..... I send out between 5k-7k letters a month..

I have a bulk mailing permit from USPS..So it cost me roughly $300 per 1000 letters mailed...

I print my own letters ( not yellow letters) I use simple white copy paper. Which cost me $18.99 at costco and I get 2500 sheets in a box (I buy 3 boxes $57 not including taxes)....My letters are different they have a lot of color in them. But same concept as yellow letters...

I buy my envelopes from Walmart or Kmart a box of 100 envelopes cost me $1 each...I usually buy 80 boxes ($80 not including taxes)

And spend about $200 on ink I use fast draft printing, so I maximize my ink to the fullest.

And the rest I designate towards people stuffing and folding and stamping...

here in CA its a tough market and if I want to keep up, ill have to get to some where near $5000 a month...But the plus is here in CA one deal can net me a really big spread...

@Angela Fellows

Of course the best advice would be to wait and save the money. Debt isnt fun, even when you can afford it. But theres that good ole saying you only live once. If this is where you plan on living for a while and where you want to raise your kids, why not make it somewhere you want to be when you get off a hard days work. Tomorrow isnt promised to anyone so enjoy the things that are here at the moment, live life to its fullest.

This is the lil devil on my shoulder talking...LOL

Most agents have never heard of wholesaling, so right of the top their opion is that it is illegal activity. Their not morons or dodos, I am a wholesaler, but lets just be honest here, when you talk about wholesaling and describe it, right off the top it sounds illegal. Its easy to get the lines crossed. When your a good wholesaler you dont even need the agent to know what your doing, you dont want the agent to even understand it. I tell the realtor i work with, just bring the deal and ill buy it. Plain and simple..

And real estate agents are not angels as well, they make it hard for the market. I talk to so many sellers that have had an agent come by and tell them their property is 100k-300k over value just to get them excited so they can get that listing. And now this homeowner with no sense of the market believes they own a million dollar home in a 500k neighborhood...

As long as it states you'll be getting the 4k at the time of closing, for that specific deal your fine. The buyer wants to protect himself which is fair. As long as title will receive that addendum, and it states the terms, title will not risk their business on 4k....Just make sure the addendum states the correct terms...

I basically do the same thing, i just dont call it an addendum, i make a simple two line contract with my buyer stating they owe me xxx aount of dollars at closing for bringing them this deal...I hand everything over to title and let them handle business..

And Congrates on your 1st deal....

Nothing wrong with it.... an addendum for that shouldnt be more than a few lines long...shouldnt be hard to read. Just make sure it dosent hold you liable for anything....Is the seller aware you'll be making 4k on the deal or will they suprised to see that when they close?

Its a tose up, some would say start marketing to motivated sellers...Or build a buyers list first.

You just have to jump in, you've done your research, its not as complicating as you think. They only way you will learn to wholesale is by learning from your mistakes. There will be sooooooooo many different scenarios when you start talking to sellers, it will force you to grow, and it will make you become sharp and get you comfortable with talking to sellers. As you going along findind solid, true cash buyers will be your key to growth. Having the ability to talk with confidence to your sellers because you know have real players that can close will put your whoelsaling business in perspective really quick..I luced out and found 1 cash buyer who bought my first 4 deals. And through the process i learned so much, from talking to the sellers, to presenting a deal to a cash buyers,and then to the closing table/ And through that I had bumps and bruises and angry callers, to sounding like a complete idiot talking to sellers,deals fall apart at the closing table, horrible mailing campiangs, spending marketable dollars getting nothing in return... but through it all Thats where i got my knowledge. Jump in and dont let any discourge you on this site or anywhere else. You in a hot market right now too...

Good luck

odesk.com is great.. been usuing it for 8 years for Web design, answering services, blling services, REI, data scrubbing, data minning, client screening, appointment setting...Its great...

Elance.com is also good, its more fo technical stuff, and the VA charge slightly higher but they have a great choice of quality...

@Ted Schmidt

I ment earlier last year....

@Ted Schmidt

Earlier this year i spent a ton of marketing dollars toward forclosure leads, and OMG ill tell you it was the best response rate ever. Probably about a 50% responce rate. But every single respose was a "IM WILL SUE YOU IF YOU EVER CONTACT ME AGAIN.." or "MY LAWYE WILL BE CONTACTING YOU SOON"....LOL

I talked to a lawyer because i was scared and i was informed its against the law to act as though you want to help them, if your going to really buy the property. Either you act as a consultant and thats its, or either you tell them you want to buy it and thats it or you act as if you can legal help them and thats its....Luckily no one actually took legal action towards me, the lawyer told me it would have been 100% lost for me...So i retired my intrest in forclosure leads, unless its already a short sale approved...

Every state may be different but here in CA its a slippery slope....But as @Phil Z. said that would be safest route to take...

@David Briley

Tax sales are auctions either online or at a designated location depending on the State/County...you first have to be the winning bidder and the starting bid on each property will always be the deliquent amount owed..So theres no way to negotiate the sale...All sales are final in any State/County...I buy tax defaulted properties here in CA you pay 100% of whats owed, non-negotiable.....and i I buy tax liens in Indiana and its the same concept there also, the starting bid will be exactly the tax amount owed on the property. However some counties (like in Indiana) have so many properties that dont sell the first time, so they have 2 or 3 more sales throughout the year and they wipe all the deliquent amounts off and every property starting bid is $300 no matter what they owe...

And this was old but whoesaling deliquent properties is a great way to go, i did really well in that area and made enough to purchase my first property all cash....