All Forum Posts by: JD Bock

@Kaiden Foster

Thanks so much for the detailed reply. That was gold. I'll try calleridreputation.com and go from there. That makes a lot of sense, that there would likely not be any free options considering the service would need to be able to check with multiple carriers. 

Thanks again

So, I use BatchLeads to send SMS and they will show you which numbers have been flagged as spam so you can order new numbers regularly. I use Xencall as my dialer and they don't seem to have the feature. I emailed them (Xencall) to ask about it and they suggested using 411.com reverse phone search. At first I was like, OK, no problem. I would diligently plug in all of my numbers one by one regularly each week to see the numbers labeled as "low spam risk". For reference, I put in both my personal number and my Google Voice number and both were also labeled as "low spam risk", so I assumed that was the baseline. 

Fast forward 3 months, and I thought I was doing pretty well as far as my VAs and their professionalism and not getting flagged as Spam. However, just this morning, I decided "what the heck" I'm going to use Xencall to call my own phone, both personal number and GV number. Low and behold, my outbound call bank of numbers were coming up as "suspected spam". Who knows how long its been like this. I could have potentially been wasting thousands of records, not to mention the thousands of dollars in salaries of the VAs wasted on dialing numbers using spam-flagged numbers. 

I've searched the web for a method for regularly checking my numbers and so far haven't come up with much. Being a virtual wholesaler/flipper I already spend quite a bit of money on different services (Dialer, Website, Lists App, County Lists, Call Tracking, CRM, Docusign, Social Media Manager, Data Organizer, Quickbooks....it just goes on and on.) Point being, I'd love to find a free service if possible, but if I MUST, I'll bite the bullet and get yet another service considering that could essentially cripple my business. 

So....any of you knowledgeable BP'ers out there know of ways to be able to consistently and accurately check whether your outbound phone number bank has been flagged as spam?

Your input would be greatly appreciated. 

@Adriel Hsu I totally agree, flippers/investors don't need to see the wholesalers' rehab estimates or ARV, but a good wholesaler should be able to calculate those numbers in order to determine the asking price.

To Group:

Wholesalers need to know the numbers that would give both the wholesaler a decent assignment fee AND have a reasonable amount of margin for the flipper/investor to make it worth the risk.

I'd argue that many wholesalers don't know how to do this based on the mostly ridiculous asking prices I receive.

Like any business, focus on your target market. What do they want and need? If you can supply what they need at a good price, not only will you be in business longer, but you'll almost guarantee you profit. Profit should be treated as a byproduct of servicing your client. The supply my be a, somewhat one-off deal, but remember your buyers should be treated as long-term clients. Do right by them.

@Ted Sornson My suggestion would be to really learn how to calculate ARV, plus estimate rehab costs and think about it from the perspective of the investor/flipper. Find out what would be a great deal for them, considering the risk they take, then add your fee onto that. I personally don't mind everyone in the deal making money, but wholesalers should be fair and understand that they shouldn't try to squeeze everything out of the deal. Flippers take a huge risk by rehabbing and selling. Problems with contractors, changes in the economy during rehab that affect the original estimated ARV, just to name a few. Unless you're dealing with properties in the $800k territory, then take a $5k-$25k assignment fee and you'll likely build strong relationships with some cash buyers that will work with you for years and everyone will prosper.

I have a rather large list of wholesalers that send me deals on a regular basis, however they all want to bid the price up so high that there isn't any meat left in the deal. I was wondering if anyone has any ideas on creative ways to work with wholesalers so that seller, wholesaler and investor all feel they got a good deal without the price getting bid into "no-go" territory?

I click on the follow button, but then when looking at my profile, those that I've "clicked to follow" are not showing. Also, can't figure out how to follow others in my existing network because there isn't a "follow" button on their profile.

@Upen Patel Yes, I'm currently "salary" and have contacted a CPA to get my past taxes sorted. I put "salary" in quotes, because although I'm employed right now, because of COVID, I'm only getting paid as a percentage of profit if and when there is some. I believe it is not doing much for showing income stability to a potential lender. I've continued to search for stable income, but again, because of COVID, I'm finding it difficult. 

@Whitney Hutten

Adding it in as a line item within your construction loan is a great idea. Didn't know that could be done. Thanks for that info.

@Terry Lao

My experience has been that many people from China have been so used to survival mode due to over-population that they just want to get theirs before someone else gets it. It's often a WIN/LOSE mentality. If you have reached the friends/family zone, then they will take a bullet for you (nepotism), but otherwise you could go and die for all they care. In China, it has felt to me that many don't think it is wrong to lie, cheat, steal. They believe it was your fault for being an idiot and getting taken advantage of.

@Phillip Dwyer

Thanks for the link. That's useful info. Much appreciated.

@Chris B.

Yes, you're absolutely right. I should have filed my taxes while I was there. I only found out a couple years ago that it was mandatory even though I wasn't collecting a salary here in the US. I'm working with a CPA right now to get things straightened out, but I still won't likely be able to qualify for a loan because I collected mostly in cash.

@Brian Bagdasarian

That's a good idea, regarding the CU. I will contact several and see if the story-based lending idea is viable. Thanks :)