All Forum Posts by: Jessica A. Smith

@Malik Williams Thought I'd chime in. Now I'm new (like just started in Feb and closed my first deal this month) It's really whatever works for you. I choose to look at the property first and determine fair offer for seller. I drive for dollars and locate distressed homes. I can do that because I have a small amount of leads, and I believe if I look at enough properties I'll get better at it. Reach out to the seller to see if they are interested in selling. If the property is listed with an agent I'm not sure how you could wholesale it. That would mean the end cash buyer would pay your wholesale fee, agents 3%+, and the sellers asking price. 

Maryann,

You can check your local county assessors office to located owners and their mailing address. Now not for sure about the lock boxes I normally see those for properties already under contract.

Morning!

I'm in the SE Houston area with a growing buyers list. I'd love to assist in getting these deals done.

Quick question: Is the seller looking for a quick close with a cash purchase? I would suggest running the numbers and if it's a good deal get it under contract. Like most say if it's a good deal the buyers will come! I have a few buyers looking in that area feel free to send me a message!

Hey Michael! Send me a request an I'll send an example over to you!

@James Danchus I try to get in at least 3 hours a week. It's either done on my way home from work or when my kid is at baseball practice. I've gotten a list of 35 now. I'm planning to purchase a list soon though

Michael,

I did my first mail out 2/18/16 with just 9 letters. Out of those 9 I got one under contract and closed yesterday 4/19/2016. Vey scary stuff! My mail outs are small, but I gather my leads by driving for dollars, and now have cash buyer list of 50+ from marketing my 1st deal. I'm up to 35 leads and mail out every 4 weeks.

How awesome that you got 2 call backs! I'm new to wholesaling, but here is a guide to what I did to get my 1st deal under contract and sold

• determine cash offer to seller. The formula is ARV X 70% - Repairs - wholesale fee = What you can offer seller (Having a contractor on your team will be helpful to determine repairs needed and cost / Real estate agent can pull comps to assist in determining the ARV)
• Once they have accepted your offer have seller sign contract
• Once contract is signed market on the following sites: BP, Craigslist, and Zillow. Make sure your market post has at least 5 good pictures of property.
• Return EVERY phone call *Even if they don't take this deal you can reach out on your next*
• Once you get a cash buyer have them sign the assignment of contract (I request a deposit to ensure they were serious)
• Sent contracts to title company and wait for closing
• You do not have to be present at closing, but it's a good experience to see what happens
• Last, but not least CASH YOUR CHECK!