All Forum Posts by: Justin Pierce

That's funny.

A whosaler really gets their value from getting down in the weeds. You make your money from you contacts (buyers and sellers.) I know a lot of whosalers call me based on my adds that I buy houses. I would look at craigslist, the newsparper classifieds and look for those I buy houses signs and give them a call to see if they're worth adding to your buyers list. Just be careful because many of these people are also wholsalers. You can also contact Hard Money lenders. Many of them also buy houses and if not they might refer you to some of their best investors.

If you have time to go through the process with a bank, you have good credit, and the home doesn't need real extensive rehab I would say go straight to the bank. No sense in having the additional refi expenses if your upfront startegy is to hold onto the property.

If you need to barrow the fix up money, or the home is such a dog that a bank will run screeming, or you need to close real fast on the home and don't have 30-45 days to go through the bank or conventional lender process then go to the Hard Money lender.

Just expext that the hard money lender will probably charge 12-18% interest and 4-8 points. If you're a new investor and don't have much money to put up then expect to be at the higher end of those ranges.

These are very loose recommendation. The final choice will come down to your exit strategy, the equity spread in the deal, and other business considerations that vary with every single deal.

My first recommendation would be to go to talk to a couple banks and a couple HM lenders. You might find the choice is made fore you.

Good to know. I'll check it out.

Yeah, I got it. It just takes a while to upload. I guess I'm too impatient.

Interesting report. I think the most useful thing in it is the list of the top 10 Social networking midia.

They say the average time spent on these activities is 5 hours per week. Heck, I've got that today. I'm starting to wonder if it's worth that type of effort.

There is just so much info out there.

Lucia,

I tried this link. I couldn't get it to work for me. Is there a trick?

Aren't there actual services for this stuff. I don't know about having someone off of craigslist answering my calls. This is the first impression a prospective seller will get of my company.

As far as call forwarding, I already have that with my business line service. You just have to buy a phone that is capable.

I could use something like this though.

Yes, I can feel my influence growing.

Good idea Josh. Now it's not just the quantity but the quality here on BP.

Keep em coming. I just noticed that influence thing and was wondering.

Wendy,

You should post this in a Blog right here on BP. It would make it easier for people to follow you.

Good article. Good series.

Wendy,

The government spends a grip of money to compile info for us and its available for free.

People can get so much relevant information from the Census Bureau's website, The IRS, and most county's have a website with a link for helping business.

You can pretty quickly determine if a town is growing or shrinking and average income etc.