All Forum Posts by: J.j. McGuigan

I think that's a great strategy !  I think the key is once you've planted the seed for them of what you do and what you can do for them, they will remember and when the time comes that they might become a motivated seller, then you might be the first one they contact back.  

That helped quite a bit, thank you !!  

I think part of my strategy will be to let them know all of what you stated, and if they still feel that it's a rip off on price, I can just let them know by saying something like this, "Hey I really do hope your house sales for what you want and your able to get that, it's just unfortunately that's not the case with some but as I stated the advantages of my offer will always be there.  If for whatever reason you do have trouble selling at X amount, just give me a quick call or email and we can still do something to help you out." Obviously don't have to say it like that word for word but that's somewhat of the idea is to plant the seed of what I can do by wholesaling their house as apposed to just hoping it sells for what the realtor lists and possibly waiting months for any kind of offer.  And if they are a motivated seller then TIME is important and they may after thinking it over come back to me and we can work out a deal.  

Thanks everyone !! This is all good information !! Appreciate it !

yeah i can see not paying realtor fees would be a big bonus.  That is a good point on a cash buy not being as risky in that the funds will be there.  

Let's say a house is going for $100,000 and I put it under contract and don't get a buyer, how much would I need in order to close on it myself if I have no other contingency plan?  Would I need to pay for it in full or could i finance it? I know if I finance it it's then no longer a cash buy but might help secure the contract if needed

Hello, 

I have a question regarding telling sellers about the advantages of selling the house or unit for cash.  I think homeowners are willing to go down in price once they know you have a cash buyer (list) if it's about a 5% - 15% decrease.  But when you're asking for a 30%- 50% decrease for cash are there any potential bonuses for the seller in taking cash.  I know it varies from situation to situation but in general are there any specifics like concerning tax advantages, convenience, or anything like that that could be talking points I could use in trying to wholesale?  thanks!!

@Hattie Dizmond That's interesting cause I just listened to that podcast yesterday lol, it was great information and this deal is a lot alike his first deal he did in college on accident as he said. @Adam H I would second what she said and listen to the podcast, I'm a newbie myself and found it very informative, and i love these forums.  I would suggest coming here anytime there is an issue as there are experts capable of giving good free advice like Hattie.  Good luck hope it works out for ya !!

I am  newbie and the main problem I have is following up too much and borderline stalking if you will a buyer.  I hope you know I mean 'stalking' lightly but I fear of missing a deal so I don't want to waste any opportunity to build a relationship wight the buyer.  My take is that some of them might not have a plan after they solicit.  it's either 'paralysis of analysis' or they fear taking the next step. You're right in that it makes no logical sense so my best guess is that it's an emotional thing for them they have to work through.  Hard for anyone to fix but that but them so I can see how that is frustrating for sure.

One thing I read on a BP blog was that it's important to hit the same people with those letters as well as reaching new ones.  For instance if you make 1000 letters and send out 250 of them to people you might not get a response on the first one.  But instead of sending the next 250 to a different group of people go ahead and send them to the same.  The blogger was saying he gets a lot of responses and deals done off the 2nd 3rd or 4th mailing.  It gets them thinking about it and they know that you are serious if you send it to them again, granted you allow some time to elapse so they don't feel like they're being bothered.  What the blogger, and I forget their name, said was that in those 1000 letters you should send it to 250 people 4X to get more responses than sending it to 1000 different people.  That could be a method worth trying Kelsen, I know I learned the same thing when I worked in Insurance for 3 years.  First you get them thinking about it and then by repeat follow ups you can get them to at least set up a meet up with you to discuss the potential deal.  Hope this helps and good luck !!!

@Westin Hudnall I love it !! I'm getting started on it yesterday actually lol, talked with a FSBO home owner who lives near me on the East side of town. I'm going to look at the property on Tuesday and will send you all the info I can gather !! We'll make this happen !!

Mind Blown LOL. All of this is great insight and information about something I had been curious about last couple of weeks but not been able to find much info on, so this is greatly appreciated. I'm gonna reread through this tomorrow and get a better grasp of it and might have some more questions. Basically what I'm gathering is that the MLS is mostly in general for realtors looking to sell a clients house to a potential home owner and not investor, doesn't mean it can't be done it just is generally set up that way. And the deals in FSBO and foreclosure and probate and what not are deals more geared towards the wholesaler or bird dog and investment buyer. Experience will show me what niche I'm best in probably i think.