All Forum Posts by: Jacob Maes

I have been approached with buying a condo in an up and coming area close to Dallas, TX. I think it's located in a great spot and would easily be rented. However, I've never owned one and curious if they are a good asset to hold onto. Seems like they don't have great appreciation, HOA's eat into it, and hard to resell. I'm just curious what other's who own a condo think about them and if you think it's a good investment.

@Bud Gaffney true! Need to give back more. Thank you!

@Joe Splitrock when someone says "I want to pick your brain" I almost immediately hang up lol but I'll give them some action steps! Thank you. 

@Bryant Brislin Ya, that's probably why so many are getting into it, because they see some guy on instagram with followers making crazy promises and living fake life styles. I'll give them a chance like the others are saying as well. Thank you!

@Monique Pett well that's a nice way of saying "Jake, take their damn call!", 100k? Damn lol okay I need to actually give these people some time on the phone. Thank you!

@Jerryll Noorden I'm going to do this. Like Abel, I'm going to see what their goals are as well as give them those action steps to set up a website and get a domain name! Thank you for your advice!

@Abel Curiel I like that strategy. Ya I always just hurry off the phone cause most people are just more curious so it's a waste of my time. But I like the goal questions and testing the waters to see who's serious about actually getting started, and like you said, could lead to some great relationships!

I've had a few people ask me if I would be willing to mentor them in wholesaling when they see my profile or see a sign off the street. I'm curious what you guys do or think when someone does this. To be honest, I won't even give them much time because I hate when people just ask to be coached in anything. I'm a believer in you just do it, then someone will notice your efforts and will help guide you, but no one really mentors when someone asks (unless there is a monetary incentive in it). I'm just curious as what you other experienced wholesalers do when someone asks you for coaching. 

I agree with Tom, you should never disclose how much you're putting on your assignment fee. If they see that they could feel "dumb" and back out to try to sell the property at a higher price themselves. Also, asking where the money will be deposited for earnest is a common question. There's plenty more properties so keep grinding!

I'm not really able to go back 10 years but I can do five! The one thing I think that's important and what I wish I knew when I first started was to invest in people and build relationships. At first I would use people as a means to an end rather than developing a relationship. Even if upfront the ROI seems small and pointless, down the road, that relationship and those connections will 100x your initial investment in the relationship you created.