All Forum Posts by: Nemi W.

Well Rich,

As a 1-man biz, they're enough to keep me going but not too many for me to handle. So 2 to 3 calls a day allows me to make 1 decent offer a day, which has been my goal. I'm not sure if that qualifies as so many great leads for you.

I basically send emails daily to sellers on craigslist, backpage, etc. and the FSBO sites. Also, I BUY posts on those sites as well as bandits. When I was struggling, I focused on making this a daily/wkly habit and it seems to finally be paying off...for me.

Hope this helps.

@Stinson, I guess with this example and assuming I would close on it (which so far, I haven't needed to or wanted to because I flip paper to investors), you're right. Do you typically get a house under contract no matter what as long as there's equity and seller is motivated?

@Rusty, no this lead came from a different city. I have a decent buyer's list for my city.

I gave a specific example, but I'd like to know if you use some rule of thumb to help a little with focusing.

Thx for responding guys!

I think this might be one of those it's-a-great-problem-to-have situations.

So my phone is finally ringing with seller leads the way I want it to. However, every time I get off the phone, unless it's a no-brainer slamming opportunity for wholesaling, I'm stumped as to what to do with the lead. Do I follow-up later, delete from system, outsource...

I'm curious if anyone has a system/rules of thumb for what to do with seller-leads.

The example that I can give from minutes ago is a seller who "needs" to sell because his daughter is going to college (I'm assuming next month). He owns free and clear and wants to cash out. He wants $99k for a home rented out for $730 and is flexible with price. Lets say no work is needed, I get him down to $70k, & the comps in the area are $100k.

Is this a lead worth persuing if I'm trying to focus only on wholesaling for now? In other words, do you guys always move on (get under contract) a home if the seller is motivated and there's equity and then figure out the exit strategy later?

Thanks for your words of wisdom.

Curt (and Dee),

A buyer can come to Orlando and buy for $40k, min repairs, and collect $850. I've seen it.

In fact, I currently have one that needs $0 repairs (recently done), has tenant in place paying $850/month, for $45.9k. I'm a wholesaler.

My first was a wholesale deal.

While driving for dollars, I noticed a VERY small For Sale sign in the window of a home, listed by a Realtor. It was owned free and clear by the son of the former owner who had just passed. He was asking $50k for it, I offered $25k.

It was rejected.

6 weeks later, the realtor called to tell me the owner accepted my offer.

Put flyers out at the general meeting of the REI association I had just become a member of. An investor called, we went to see the home, he offered $32k of the $35k I was asking. I took it and made $7k.

Turns out the owner accepted my offer because 1. someone had vandalized the home and 2. it was the only offer he had received. I got him to fix the problem caused by the vandalism.

It still fascinates me how things just happen when you take action!

I'm finding the same property marketed by several different wholesalers. When I see one that fits my buyers' criteria, I'll send the details out to them.

Any suggestions from any of you as to how to tactfully go about finding out which wholeasaler ACTUALLY has interest in the property (have it under contract)? I know that one of the ones sending it out has it under contract and that is the one I need to call. I just don't feel comfortable calling around to each WS and asking "do YOU have this property under contract? NO? Ok, bye", or contacting the Realtor (for MLS listings).

The goal, ofcourse, would be to cut out as many middle men as possible; thereby increasing my profit.

Any suggestions greatly appreciated!

Smitnlit,

I know how flexible it its! After staying home for 1 yr with my first, who's now almost 3, I went back to managing a Rehab Facility, making excellent money. However, I was leaving home at 5 am, coming home at 7 pm. That was not working for me nor my family!

I saved up about 6 mths of living expenses and knew that real estate investing was the way to go. I've known since I was young that I wanted to own my time, but I didn't know which business would provide the best opportunity to do so. After obtaining an MBA, I still didn't know.

After leaving corporate america, and closing my first wholesale deal of $7k, I was convinced and haven't looked back. So...I was full-time right away. I figure give it 100%, or nothing. For the last 6 mths, I've worked par-time at wholesaling and part-time as a homemaker. I'm not sure if I'm considered an investor just yet, but I'm hoping to acquire my first investment property by the end of the year.

It definitely has helped to have the back up income and support from my spouse!

Rob & Liam,

If it was during the week that they were removed, I would have to concur. But it was about 8 hrs after they were put out, on a Sat morning...confusing!

DB, in retrospect, I believe they asked to better direct me.

Although I know it's public info, I felt a little opportunistic walking in the door for the first time...I mean, I simply wouldn't have been interested in these files if I wasn't trying to make a buck. I was looking for them to ask 'why' before they even asked and I was immediately on the defense. I say this to say there really isn't a need to hide your reason for being there. However, I agree with the others, in that there's no need to announce why you're there either.

Good Luck to you!!

Absolutely! I've learned so much from everyone else sharing, that I'm happy to! Hopefully someone benefited.