All Forum Posts by: Michael Culler

The only way to get your end buyer financed is to make the end buyer's underwriter happy.

Anything under 90 days title seasoning is not going to make ANY FHA underwriter happy.

Even if you have 90 days, in some areas they may require 2 appraisals, and make you jump through crazy hoops just because the seasoning is less than 180 days.

If ANYONE gets an underwriter to overlook the 90 days seasoning rule, they have influenced an underwriter to do something that may cost them their job.

You are not the normal customer Mike, that is why.

Most people are still stuck holding a balance at 22% with no way out except default or bankruptcy.

Its true there is no rhyme or reason. And it's also true that if just one of them took care of their better customers, they would increase market share no problem.

I am totally open to that.

But we would need to start with a new currency that is REAL, and not simply a debt owed to a banker from the beginning. (Google: End the Fed)

And of course that would mean the Government would default on paying the Federal Reserve. <-- fine with me!

If we can change that, I would be ECSTATIC about paying taxes; and would be open to just about anything they want to do with the money they collect.

Nice! Whats the solution?

Print more money of course! :-)

Let's hope that what he is talking about becomes common knowledge.

But for now, I have to hustle and get more Federal Reserve notes.

Sure thing Greg. It cant be too hard, if you think about it. You can pay for some education on the topic if you want. I personally like Chris Chico more so than Tim Mai in terms of virtual wholesaling gurus.

That being said, the basic idea is you have a buyers list to email to when you have deals for sale.

You then have to market to motivated sellers (direct mail or telephone)

Have an "inspector" come to the property to evaluate repair costs, and the surrounding area.

Make your offer via fax or email, and have them either fax it back or overnight you the signed contract.

Blast an email to your buyers list, have your original "inspector" or "partner" show the prospective buyers the property, tie up with the buyer and close.

Your biggest hurdle is finding who you are going to use as your inspector. It could be a friend or family member, but definitely someone you can trust not to Jerry Mcguire your deal out from under you. :-)

It's way simpler than most people think. You can also use this same strategy to wholesale other peoples deals to your buyers list. Please let the person you are dealing with know that you are not the end buyer though. Otherwise they will group you into the shady category and not want to do business with you in the future.

It depends, and you know your dad better than anyone.

My dad would be mad at me if he said not to pay him, and I tried to. I just do what the old man tells me to do, its worked so far! :-)

Give away free useful information. Later on sell your products and/or services to the people who open your emails and appreciate what you have given them for free in the past.

I think that its best to give before you expect to receive anyway. But this reciprocity typically is what makes the most gurus successful in the first place.

It sounds like your heart is in the right place. So if you truly are interested in how to do it, without turning people off you should probably learn how people have done that in the past.

That being said, there is no way you will do it without someone whining about you, making fun of you, or saying you are a scammer or something.

Wholesaling is a great way to get started, and get around town figuring out your market and what areas you can make good money in.

But to answer your question, its easier if you have one or two investors alone on each deal. Unless its a multi million dollar project, its easier to figure ROI with just one investor for smaller projects.

If you already know some people that have money sitting around not performing, ask them how they feel about a 10 percent return in 6 months? If they seem down, then get a real estate attorney to write up a loan for a purchase for you, with them as the private investor.

Dont advertise that you get people a percentage return, because I dont know SEC laws.

But like if you were just talking to a dude you knew had money you could do that, easily.

Or if you just want to go hard money, you could always do that too. Thats easy money to borrow, as long as you keep to your budget and turn properties quickly it will still help you get started.

You guys are right that Guru's are expert marketers. The main ones I have came across came straight from the Dan Kennedy school of marketing.

They utilize ALL psychological hot buttons and any maneuvers (including scarcity mentioned above) they can to call you to action. Most have trained in NLP, and are well read in the art of persuasion.

People love to buy things that they want, they just have a problem with being sold. So I can understand why some folks don't appreciate the Guru stuff out there.

I just see it for what it is, another advertisement. I will opt in with a throw away email address, and watch in wonder as they pull out every stop to try and sell their list the new product or service. It's quite entertaining in my opinion.

That being said, I have learned new things that I applied in my business, just from the free stuff some Guru's give away.