All Forum Posts by: Joseph Back

@Clarence Williams Driving for dollars, direct mail, cold calling, Craigslist, Facebook, company website, etc. There a million different ways to find motivated sellers the key is focus on one, perfect it and then move on to the next. Would highly recommend starting with Driving for dollars as a beginner.

@Yanky Mosh Would highly recommend to start listening to Sean Terry's Flip 2 Freedom podcast. Start with the very first episode he released back in 2010 and work your way forward chronologically. He essentially goes through every step and facet of wholesaling in the podcasts.

@Erich Bradburn To keep expenditures low starting out I would highly recommend using the driving for dollars method for lead generation initially and then once you receive funds from a deal or two you can start the direct mail campaigns. Essentially just go out for 3 straight weekends and drive the rental heavy areas of your town looking for distressed or abandoned looking properties. When you get home look up each of these properties are your local tax assessors website to see the name and address of the owner. Then type up a nice professional looking letter expressing your interest in purchasing said property and send it. Would recommend finding at least 100 properties for your first batch, should be able to get a deal or at least learn a lot while only having to pay for gas and stamps.

@David Brizendine Don't have a perfect script for you but would highly recommend checking out John Martinez's 21 day free online REI sales training boot camp. They will send you a video each day that goes over sales tactics and strategies for talking to home owners over the phone. The series contains a lot of great content regarding what and when to say certain things.

@B Fair We have worked with sellers who want to stay in properties before, has usually worked out fine. Typically we provide them two options. 1) They can move out upon sale and receive $X price. 2) They can stay for Y months and receive $X*90% while also crediting our company with Y months of rent at closing. This way you as the buyer are able to service your debt with the credited rent payments and receive a nice sized discount for the added risk and trouble of having them lock the property up for Y months. Last thing I will say is every time we have done a deal like this the seller has ended up trying to stay longer than what was stated in the initial agreement so be prepared to have to evict.

@Robert Wilson We always wait until we have contract with seller and contract with buyer before sending over to title company. Don't want them conducting title search just for me to have to come back to them and tell them we don't need it because we couldn't find a buyer.

@Greg Stetz I appreciate the kind words. Feel free to send me a DM if you have any other questions.

@Douglas Petrie Somewhat confused by your question. What kind of referrals and at what stage in the relationship?

@Josh Levan I appreciate the kind words. Feel free to send me a DM if you have any other questions.

@Rick Stevens Makes sense given bank's increased restrictions and standards for borrowers post the Great Recession. Sean Terry of the Flip To Freedom Podcast implements a really neat "Retail Super Wrap" solution that essentially combines subject 2 with land contracts to create a really cool solution for sellers with very little equity in their home. Definitely something our team plans to dig into more given we have been throwing sellers with little to no equity to the curb because we had no exit strategy for those deals.