All Forum Posts by: Brandon Krieg

@Pharaoh Mitchell - It depends which part of the transaction you're at. REO is a big category.

If you really want to get on the front end, you would talk to the lenders and banks and get in their good graces. If it's an MLS listing, it will be handled through the agent.

I think the best way is through a multi-pronged approach.  Look through any foreclosure listings you can find, typically through the county, municipality, or courthouse (I'm not sure how it works in Tennessee).  This will allow you to see who owns and is buying what.  From there, you'll want to talk to folks involved in that bank or business.  The best bet is to 'follow the bread crumbs' from existing connections.  Don't have any connections?  Use networking groups and local forums to get them!

I don't know of any 'master list' or secret contacts to get a hold of.  It's typically a long grind, with a lot of time and effort invested.

@Timothy J. Cudjoe - ALWAYS  present yourself honestly.  Say you've been working hard on a deal, and you think it's a good one.  The deal will speak for itself.

If you try and 'sneak one by' someone, you can easily ruin a relationship.  Always be honest!

@Darrell Paden - If you're getting discouraged, it sounds like your mindset is a good place to start.  There are a thousand little technique things to learn.  However, in the boot camp class I teach, we start with mindset.  If you have a strong mindset as a strong foundation, you can learn anything you need to.

So, I would recommend jumping on to the Starting Out and Investor Psychology forums - they have a lot of good stuff there.  

https://www.biggerpockets.com/forums/12-starting-o...

https://www.biggerpockets.com/forums/62-investor-p...

From there, just take it one step at a time.  Good luck!

@Christopher Carter - I have stuck locally.  If I had advice, I would recommend getting good in your local market FIRST.  Honestly, the beginning of the learning curve, finding a good deal is hard everywhere.  It takes a lot of honing your processes, and a LOT of persistence.

I would recommend digging into the closest city where investors meet up (possibly Nashville?) Look up meetup groups in the area, and local REIA organizations. Start attending networking groups regularly, and you will start developing your team. Keep up the good fight!

@Account Closed - Investors are ALWAYS looking for a good off-market deal.  Why wouldn't they?  Look at it from their perspective.

If you were a flipper, wouldn't you love to have an off-market property sent to you that you don't have to find on the MLS? If you were a buy and hold investor, wouldn't you want the first crack at a great cash flowing rental?

No matter the market, that will be the case.  People love making extreme statements, and declaring this or that 'dead.'  I started in a relatively down market, and have had success in a seller's market as well.  Don't let them freak you out too much.

@Brian Wilson - You can find some stock ones online.  If you want to be safe though, I'd talk to a local attorney.  Cobbling together agreements, or using stock ones is not a great idea.

Many will work for very reasonable rates, and can at least look over any stock agreements you find.  If you don't know any lawyers, I recommend checking out a local group in your area.  The experienced folks there should be able to point you in the right direction.  I hope that helps!

@Fremy Rosso - When it comes to legal contracts, I always recommend talking to a local lawyer who knows real estate.  If you don't know any good ones, I would go to your local real estate group and ask around.  

@Joe Villeneuve - Good to see you (digitally)!  It's been a few years since I've been at the Ann Arbor group, but I'm glad to see you here.

@Matt Mcnulty - you're welcome!  We all need help, and lord knows the world needs more good wholesalers.

@Michael Gibson - It sounds like you're where I was when I started (although I didn't have any kiddos yet).

I started with no money to speak of.  I got my first deals by grinding.

If you have no money, but are willing to put in time, I would recommend working Craigslist... HARD.  Create ad campaigns for your target areas, and refresh them as often as Craigslist will let you.  Find people who are selling their homes, and call them.  At least 10 a day.  Set up meetings, walk the houses, and make offers.

While you're doing this, read all the books you can about rehab costs, buy and hold investing, and flips.  That way, you can understand buyers.  Buy used copies online - many are less than $10.  If you're working tighter than that, scour your local library system, and get book recommendations on BiggerPockets.

Go to local networking meetings, and go regularly.  Many are free, and you will make a lot of connections that will help you in your work.

If you can find a good, inexpensive wholesaling class (either locally or online), and can make it work, it would be well worth it.  If you need to pick up a bit of extra work, or sell some things around your house for the books or the classes, you probably won't regret it.  

It may take a while to find one, and that's normal.  This is hard stuff.  But by ACTING, you will gain a ton of experience, and in 6 months, you will be a MUCH wiser wholesaler.

Once you earn a bit of money, you can dedicate more to your marketing, and your success will multiply.

@Matt Mcnulty - Honestly, it depends on what you're going for.  With lead generation, you are hoping to control for one of two variables - either you want to get a HOUSE that will likely work, or a SELLER who is likely to be motivated enough to sell.

In order to make a deal work, you really need both.

So, with your deal finding, try to control for one of those two variables.  If you want to find houses in a specific area, neighborhood, or price range, focus on OUTBOUND lead generation strategies.  Things like direct mail, driving neighborhoods, and door knocking.

If you want to find MOTIVATED SELLERS, focus on INBOUND lead generation strategies, like posting ads, pay-per-click, bandit signs, etcetera.

Both are hard, and have plenty of challenges.  But if you focus on this strategy, you can control for one of your two major variables.