All Forum Posts by: Israel Cantu

Wealth Club Houston "investors helping investors"

Look it up on Google its a great club to meet new investors and seasoned ones.

Hi Roland,

Have you considered listing it on Postlets.com or Craigslist? These are great websites you can get some decent exposure on the property from the comfort of your home and its free. Also I just learned of website called listingspark.com. You can actually put your property on the MLS for $7 a day without being a real estate agent.

Last have you taken your contract to a title company and opened title? This can also help to make your sale faster by uncovering any small details that might need to be taken care of before closing on the deal.

Hi Colby, 

   I wouldn't consider myself a veteran but I am active in wholesaling. I started just like you and have lots of crafty inexpensive tips. The cheapest  way of marketing is 

1) Word of mouth!!!!! This kind of goes along with business cards at Vista Print you can probably get around what??? 250 for $25. On the front I always put a message that lets everyone know I buy houses. On the other side I write down that I pay for referrals on houses. Why??? Well...tell everyone that you buy houses...the grocery store clerk, servers at restaurants, contractors, I say this "I'm expanding my business and a lot of my business comes from referrals from people I run into. I'm always happy to pay people who send me business, once I buy a house" This works with anyone who is interested in making extra money. 

2) Driving for dollars, look for houses that look like no one lives there.(there should be plenty of info on subject on BP.

3) Letters and Post cards. At this moment I spend $150 on both. I send yellow letters 100 which I get 100 stamps for .49 cents (foreverstamps) I also buy 300 post cards the template I ordered from vista print and its around $99 plust tax. Yellow letters Walmart sells like a 3 pack and white envelops at the 99 cent store...walmart also has 40 envelopes for like 88c.

AS FAR as learning how to wholesale...read a bit on bigger pockets to get the general idea and mechanics. Once you have a good general understanding..the next best thing to shorten the growth curve is partner up with people. Either here on BP or in local networking groups...and join lots of buyers list..this will put you in circulation for when other networking groups are meeting. Find a person and bring them a lead not a contract..let them help you with that and the negotiation. I've splitted a bunch of deals with people as well as co-wholesaling with other investors in the area.  If you end up taking a class...please don't take it from a GURU...take it from someone who is active in the Houston area.

Lastly...keep reaching out to people. 

Hi Winston, 

    I still apply the same 60 % rule if the house needs some repairs and 70% if its in good showing condition. It really depends on how much your willing to give. Sometimes a deal is worth while if you make your whole wholesale fee but if you know that a blue collar worker will buy it from you CASH and doesn't care the discount is not as deep. 

- How I find them...well sometimes putting bandit signs or CL adds in Spanish will attract these kinds of buyers from out of the blue. Especially if you concentrate in a lower income neighborhood. Here in Houston, TX the Latino buyer market is huge and bandit signs and CL works very well.

Ben,

   At the beginning I wasn't very good at giving the lowest offers because I dint have much confidence. Now I still do it from time to time when its a property I know I can move quickly with a seller that's not really budging. 

Yes Sir. 

Hi Guys, 

   I wanted to give a small nugget of advice to the new wholesalers on BP. Especially the "lone wolf" who wants to do it all on he's own. I started the same way and realized its so much easier when you have someone helping you along the way. But going back to my piece of information. At the beginning I used to offer more for a property than I was supposed to and had little luck selling it to the Investor community. However I quickly found out that some buyers are not investors at all. They can be blue collar workers who have saved to buy a house that they can do their own repairs on. So if you get stuck on a house. Do not be afraid to market it to Contractors, or HVAC workers or Plumbers. These guys are not investors but tend to be able to do repairs for less than most of us investors can hire it out for. Sometimes these buyers are willing to buy at a lessor discount than our savvy investor counterparts. Since they expect less returns on their money or plan on living in the house.

Hi Guys, I would recommend the Wealth Club there near 610 S and 45S. They have a free intro to real estate meeting the 2nd Tuesday of the month and a members meeting the last Saturday of the month. They do have a monthly members due which is around $25 a month, which is the lowest I've ever found. http://www.thewealthclub.org/

Hi Guys!

I've ran across some leads that have a tax filing of bankruptcy. I started reading on line about them and learned that investors can purchase them. Apparently you have to deal with a trustee. My question though is can they be wholesaled? Has any wholesaler worked with a trustee and sold the property to an end buyer in Texas?

Thanks guys.

Thank you!

Its quick responses like this that makes me very appreciative of Bigger Pockets!!!