All Forum Posts by: Joseph Back

@Dax Causey@Rafie Ahmed To get started I would recommend listening to Sean Terry's Flip 2 Freedom podcast starting with the very first podcast back in 2010. He essentially goes over every step and aspect of wholesaling over the course of his podcasts. Regarding sales and purchase contracts I would reach out to a realtor in your area to get on or check out the Bigger Pockets file vault to see if they have one for your state.

@Eric Eickhof Great post. About to launch myself into a day full of cold calling property owners and this resonated with me a lot. Thank you!

@Adam Philpot One option would be to have a parent or partner co-sgin on the loan and then there income would be included on underwriting.

@Account Closed Interesting strategy. We have thought about pursuing it before but figured it would take too much time and effort for too little results. Would love to hear about how it goes for your. Always looking for new creative lead generation strategies.

@Account Closed Great point. Our company manages our buyers list within Airtable and organizes each buyer by a number of tags including, counties of interest, investment strategy (flipping, rentals, development), price range, rehab level comfort, number of deals done last year, number of deals they plan to do this year. I would say the most important metric is to uncover how active the investor is, for buyers that are doing 30+ deals a year we will call them about deals before ever floating it out to our email list because we know they can close cash and quickly

@Timothy D. Roberts You are a brave man. Kudos on the hustle. I have never door knocked before but would be interested to hear how it goes. My initial thoughts are it is cheaper and easier to reach more people through cold calling, but let me know how it goes.

@Carrington Crutcher Depends on if you are talking about REOs or properties that are in the process of foreclosure but have not been auctioned off yet. You can wholesale the property all the way up to the day it sells at auction. After that, if the banks buys it back and then lists it as REO you are most likely going to have to close on it.

@Martin Sterling We have sent mail and cold called quite a few foreclosure leads. Not the best lead source for us either. Have found there are a lot more programs out there to help people avoid foreclosure when they get behind on payments. Hard to find people for which selling the property is their best option.

@Jay Hinrichs It is a lot of work but the power behind it is the ability to scale quickly. Can acquire lots of cashflowing assets much quick than the traditional route.

@Matthew McNeil My analysis is based on the fact that after refinancing we have $0 of our own cash invested in the deal. On the type of deal I am talking about the majority of your return comes from the equity you are building from the tenant paying down your debt. When I say it cash flows $50 a month that includes setting aside funds every month for repairs and capital expenditure reserves. @Matthew McNeil I am confused as to what you see the IRR being on an investment like this.