All Forum Posts by: Joshua Hardy

@Isaac El if you believe the deal good enough you could use an online service to do a 'skiptrace' which is what private investigators do to find out addresses/phone numbers of people.  I don't know a lot about probate, but it would seem like after the death the property would go through the probate courts (if it was held in their personal names, not in a trust or a corp) and then the heirs would be put on title.  It is my understanding that in order to take Title, you must have everybody who is currently on Title (or their power of attorney's) sign over on the transfer.  

@Isaac El great job on driving for dollars and putting together a list.  Now the next step is to find out the owners name and address and mailing to them.  YellowLetters.com is a great resource for not only copy, but also if you want to automate the sending of the mail pieces.  Also check out everything @Michael Quarles has, as he is a fantastic resource for real estate in general, but especially to those getting started.

@Account Closed Thank you for the well-wishes.  It is with eager anticipation I await that first phone call!  I've been practicing, and look forward to getting to continue to 'practice' with live calls.  I'm curious to know what kind of response you've been seeing, and have you gotten any deals yet?

@Brandon Phillips it seems that in Florida they are very much against the typical wholesaling model.  Perhaps instead of advertising the deals, which seems from my layman perspective to be against the law in Florida, to partner with a cash buyer.  If you can find a cash buyer who you trust and trusts you, then you may be able to not actually wholesale as is typically thought of, but rather be paid a 'finder's fee'.  Or you may have to try a different market, one that is more conducive to wholesaling, or get your license.  Whatever action you take, don't give up.  Continue to move forward!

@John Thedford I think you may have mis-understood what I meant about partnering.  I was  referring to partnering with the end buyers.  Instead of wholesaling the deal, partnering up and becoming a part owner.

@John Thedford I like your energy.  

It does seem as if a lot of gurus sell snake oil, and it is a shame.  "Wholesaling" I think attracts a lot of 'fly-by-night' operators who just want to get rich quick.  However, I do think there are quite a few wholesalers who do a good service to people who want to move quickly off a property, and then of course they are able to provide inventory to rehabbers and also buy-and-holders.  

Regarding strategies for building wealth, I agree with you whole-heartedly... buy and hold for sure. My plan is to enter the wholesaling game to learn more about deal flow, and increase my network.  My preference is never to actually 'sell' the property, but rather to partner with others.  I heard it said a few times on BP now, 'Your network is your net worth.'   Sharing a deal seems like a great way to make friends, and increase my network.  

Gentlemen, thank you for your kind words and advice.  I look forward to updating you all with stories of my challenges and successes.  

@Daniel Hyman I will certainly do my best to determine if the seller is motivated as soon as possible.  I've still got to put the finishing touches on my script, but I am basing it off of Michael Quarles' call center scripts where they quickly qualify the prospect.  

Do you have any tips on finding out as early as possible if they are motivated to sell?

@John Thedford  Thank you for for citing your sources for the Florida Statutes.  In my layman reading of 475.43 I was struck by the sentence, 

"All contracts options, or other devices not based upon a substantial consideration,... ...however, this section shall not apply to... ...to options based upon a substantial consideration" 

I wonder what the definition of substantial consideration is in the eyes of the court.  Is it possible that one could pay the seller a small non-refundable amount to put the property under contract, therefore satisfying the substantial consideration and then begin to market/advertise their equitable interest in the property?  

@John Thedford You mention that there are two ways to legally "wholesale" in FL.  And one of those ways is it own it.  In your opinion does Florida not allow double-closing.  In which the deal you sell is actually owned by you, albeit only for 5-10 minutes.  However you do go on Title prior to selling it to the end buyer.

Howdy BP!  I just wanted to say thank you to this community, and how grateful I am to the BP team for the great information and interviews they have put out.  I was inspired to take action by so many people, but especially @Michael Quarles and @Devan Mcclish. 

Anyways, I set a goal to begin my direct mail campaign by this weekend, and I have worked diligently toward that goal.  I just sent out my initial mailing!  I've got that nervous feeling of excitement similar to just before a public speech.  My plan is to continue to mail and learn the numbers (response rate, calls before a deal, etc) for my market for the next six months.  While doing this I'm going to continue to attend auctions, master commissioner sales, and network with everybody who is doing real estate in my area.  I look forward to getting a deal, but I'm working to set myself up for the long term game, and willing to mail continuously for 6 months before finding a quality deal.