All Forum Posts by: Hector Perez

You do not need a license to be a wholesaler.  Use the money it will cost you to get the license and the registration fees, and the time to study to become great at finding properties.

The only benefit is to get access to the MLS, and it will take you 6 to 10 months of your time.

if the ARV is $210K, how much are you estimating on repairs?

if you are trying to sell the property to a Fix and Flipper, there is no deal, as there is no meat to make a profit, now if you are selling the property to a landlord, you have to run your numbers to see if they can cash flow.

Otherwise, use your time wisely and find another deal

To find properties, you need to first understand what type of property you are looking for and the price range.

are you planning to fix and flip luxury properties or properties that are below or above the median price. what square footage are you looking for, what areas, etc. So once you have that clear, then the next step is to put a plan on how you are going to acquire the homes.

you can network with wholesalers or find the properties in the MLS. also, you can drive for dollars, send direct mail to motivated sellers, place signs, advertise online or on radio or billboards, etc.

There are so many different ways to find properties, I usually have about 20-30 properties under contract every month.

@Hector Rivas

Keep Track of your marketing every day to see results. if you don't track it, you cannot improve or grow.

When you have limited money, you need to use your time to find deals. I used Free Marketing techniques, door knocking, and driving for dollars, and contracted about 30 homes in 8 months

I have two providers that I have used, one in Latin America and another one in the Philippines. That is where I have hired all my VAs

Send me a DM and I will be happy to share their links

Sometimes, I am a wholesaler and sometimes I am a cash buyer. So I will give you two points of view

 as a wholesaler I want the cash buyer to

1) sign my assignment of contract with no contingencies 

2) provide a non refundable deposit 

3) close within 7 days after title is clear

now as a cash buyer, this is what I request the wholesaler to provide before signing the assignment 

1) a copy of the original contract

2) the escrow officer's contact info

3) information about title, is it open? if it is, is it clear or not? if title cannot be clean within 30 days, I want my money back within 48hrs after I request it

4) if this is the first time I am dealing with the wholesaler, I will make the deposit payable to the title company. If I know the wholesaler and I have done multiple deals with them I don’t mind making check payable to them

I suggest mailing letters or postcards every 30-45 days to a list for 6 months, then update the list and repeate it.

Also, test your letters, like dividing the list in half, and send two versions of the letter. The letter/postcard with most calls wins. Then next time, do the same thing and see which letter get you the most calls.

Test, test and test

don't hire VAs to curate the lists, rather buy the lists from a reputable provider and have the VAs close deals

Good luck in this journey, keep it up.

I know it is not easy to start, but my main suggestion is to pick wholesaling and stick to it for at least 12 months. I mean to learn and take action for 12 months and disregard all other noise out there.

The people that failed are the ones that pick one strategy like wholesaling today, and in a few weeks, they change their mind to rentals, then a few weeks later, they start learning about fix and flips, and 12-15 months later they have not done a deal and quit.

Dont be an statistic, be an action taker

I don't live in Lousiana, but I do this when investing in a new market.

I go to all REI clubs meetings I can, and most of the time there are a bunch of title companies there promoting their services and network with other wholesalers and ask them which title companies they use