All Forum Posts by: Jeremy England

Were I you with only 25k.  Keep 20k for an emergency fund/cash reserve.  Invest 5k in marketing and start wholesaling.  Find a partner and bring him the deal, he brings the money.  Or sell a deal and make your 5k pool, 15k in one swoop.  

great responses, 

Anyone ever employ a vr?  Whats the arrangement like?  Do you pay them by the hour or per lead?  If no one calls, do you still pay them for their availability?  

Wow good looking project.  So can you tell us how you found the deal?  And did you pay cash for the house?

Congratulations

@Jonathan M.  Thanks for your response .  I do agree taking the call is the best method to get the business, but its not an option for me M-F 8-5.  

If anyone works full time and is unable to take calls from sellers during business hours, please chime in and let me know how you are handling this. 

@Michael Quarles  Thanks, I'll take the advice 

J. Scott's book on estimating rehab costs is pretty comprehensive.  Not sure about your market but he based it off Atlanta and that is similar in pricing to the market I am in.  

So I've read up on direct mail and wanted to know how the forum deals with seller phone calls.  Let them all go to voicemail and return messages?  I work a full time job where I can't just stop what I'm doing and speak with prospective sellers during business hours.  

I'm sure I'm not the first one to have this problem, so how are you all handling it?

Does your mailer direct the seller to a website instead of a phone call?  

Another question, since I'm in the wholesaling forum.  I'm getting alot of wholesalers sending me house leads and they are asking like 80-90pct of retail.  It discourages me from even looking at these houses because we are just too far apart on price starting out.  I feel its not worth my time to go check out the house and engage with the wholesaler because he would need to drop his price by 10's of thousands for it to be a deal.  To me a wholesaler shouldn't HAVE 10's of thousands in room to negotiate or else he's not really wholesaling is he, he is simply selling me a property that needs work at too high a price.  Anyways, what say you?  

Thanks

IDK what the formula is, but the "wholesalers" that have sent me leads are asking about 90 pct of retail. Needless to say I haven't bought any of them. Perhaps they are just asking high and expecting a lowball offer. But I think a good wholesaler would be straight up and say Y is my price, X is the ARV, X1 is your closing costs, X2 is your holding costs, X3 is your profit

@Matthew John  I get what you’re saying. What criteria are you providing to your agent. Im just putting myself in a sellers position. 

If my house needs work, or is out dated and I can’t afford to do it or don’t want to, i know that I will have to ask less.  

Not 30 pct less, but what I ask for and what I’ll accept could be quite different.  

Did you offer on all those properties?  

What are the avg number of days houses are on the market in your area?  Look for those that have gone 60 days over that.  

I know when I sold my home last and it went over what is typical, I dropped my price. 

Congratulations

How did you pay for the project?  I am researching how to pay for investment properties and keep running into high buying costs.  Was this an all cash purchase or did you finance?   

Perhaps alot of those folks asking for a price outside your criteria would accept a price within your criteria.