All Forum Posts by: Hector Perez

If you are looking for a contract, I will start with the agreement provided by the "State Real Estate Commission" or attend a local REIA, and sometimes if you are a member of their club, they can provide you with the contracts they used

With that being said the first-ever contract I used was a one-page agreement that I wholesaler gave me at a networking event at my local market.

Today, I have attorneys to review my contract, but I get it, when you are starting, you may not have the resources or right questions to ask. 

I hope this helps

The majority of deals are not good in most markets. My suggestion is to network and meet reputable wholesalers who are putting deals under contract on a regular basis.

If a local wholesaler is not good, the out-of-state wholesalers are not better.

A good wholesaler only deals with a selected number of buyers that can close deals fast, so you have to find those companies and make sure you are in their prefer list

I have outsourced the marketing, SEO, PPC, Facebook over the years, and What I learned is that nobody will take care of that like you do.

So What I did, I hired a VA with some experience and bought some courses from reputable experts in those fields, and he learned how to do it and got results for a fraction of the price.

The other option is to get an expert and teach your team how to do it, but I will never outsource that anymore, I will keep in in-house.

Sell the House and use the money for the new house that you are buying.

Otherwise, you will have to fix the home and deal with headaches from tenants. I own a large portfolio of single-family homes rentals, and if you are only looking to have 1 rental, it will bring you a lot of headaches over the long run, but if you are planning to buy more rentals and expand your portfolio then keep it

Is the property Free and Clear or it has an existing loan?

Yes, there a a bunch on lenders that will be happy to do so. I do it every time.

But are you looking for a private lender or a BANK, or a hard money lender. 

Everyone will have different criteria.

Thats weird.

I have seen banks, specifically HUD putting a restriction for a certain periods if you said you will be buying it as a personal residency property, but you intent to rent it , but no from a seller or from indefinitely time. I would recommend consulting with an attorney if the deal is Great, if the deal is not that good, you can either renegotiate that clause or move on to the next deal.

There is no way to fully automated the system on a BUDGET, you need money to do so.

Yes, you can close deals by virtually wholesaling, but to do so, you need someone there that is actively doing things in person. Same if you are wholesaling locally

Here are my answers to your questions

1) For Budget-friendly tools . Excel was my first CRM, but Podio will let you have I think 500 leads for free to get started. For low-cost lead gen - driving for dollars. For low-cost marketing - use your own printer or Click2Mail. For low-cost phone system - Google Voice. For low-cost deal analysis - use excel, I still use it to analyze all my deals, but I customize my own spreadsheet

2. Scaling on a Budget: talk to 35 sellers a week directly; pick the right marketing strategy based on your budget. Paid for leads or go to the county records and download the information yourself, there is no other option

3. Networking on a Shoestring: I am old school, and most cash buyers are old school too. I have never met a cash buyer in their early 20s or younger. So attend all real estate events in your local market and network face-to-face

4. Overcoming Low-Capital Challenges: I started with a monthly budget of $250 and scaled it to a 7 figure business. You cannot automate on a budget. You need to use face-to-face meetings

@Steve Triano

My first CRM was excel, but after you do multiple deals every month you need to scale.

I would recommend PODIO, the first 500 leads/contacts are free, and I love it as you can customized it the way you want it.

Now to capture lead from a website you have two options (Aweber - paid subscription), They are amazing at delivery the email to the inbox. To start with a free account maybe MailChimp. 

Today I used Aweber and Active campaign

I started wholesaling over 10 years ago, with only a monthly budget of $250, and scale that over 7 figure business in a few years.

So what really worked for me was to deal directly with the seller, no MLS deals or No co-wholesaling. Get in contact with sellers directly and you will see how your business with grow. Then after you have many deals under your belt, you can try the MLS