All Forum Posts by: Jeff Fairchild

Wholesaler,

Well you told me to talk to a wholesaler who knows how the deals are found. It seems to me that means I should be asking you! haha. So what are the key ways that you find the deals? Do you have any unique methods?

Thanks,
Jeff

When do you and when don't you need earnest money?
Purchase
wholesaling
subject to
lease optioning
etc.

Halln27,

Rei was not saying that the bird dog was only worth $50, but that the law might say that the maximum that could be paid may be $50.

I'd be curious to find out how this deal has come along in the last month since the last post.

So it seems you basically take a commercial fisherman type approach. Your huge net is all of your advertising, bird dogs and networking to get leads. You have built your net with holes that only capture the fish that are big and profitable enough. Then you just bring your net out of the water and into the boat and sign the contracts, it seems.

My problem is that I don't currently have a net built, so I had thought that I might have needed to wrangle the fish individually by hand (thus spending more time negotiating).

So I guess the key is to spend some time getting as many leads coming through the door as fast as possible so that you don't have to spend much time on each one trying to make ones work that you shouldn't.

I thought I heard someone on here having some good success in another part of new york. If you don't want to move too far away, maybe try a different city, i forget which city it was, buffalo or something like that.

Flipper,

As you stated before, you admire me for wanting to learn, so thank you for admiring me. I will follow your advice and use the search feature to lessen the number of questions that I ask to try not to duplicate other threads. I'm sure that you can tell that I'm wanting to fill in as many gaps in my knowledge as fast as possible.

I don't need money myself to invest in real estate, I just need to use opm and at the moment, I am looking to do my first couple deals by wholesaling, which will get me some money.

Ok. So lets say that you're on the phone with the seller, they say yea I might be ok with 65% of market value. So you basically set up a time to go see the house.

You go to the appointment, have a look around, establish rapport, and then what do you do? I'm looking to get like a general step by step process I should take so when I go on my first appointment I'm not lost.

Thanks,
Jeff

Ok thanks that helps :)

How much are we talking here in closing costs between the two sales?

Ok, well I asked what exactly is the problem with my plan. I would learn more if you were to tell me the thing I need to watch out for.