All Forum Posts by: Joshua Meach

@Chris Mason @Dan Mackin, thank you guys for the help! I’m going to meet up with the daughter in law today, get it under contract for 90 days and work our way from there. She really wants to sell if we can get through this. Im just hoping it does because the numbers are looking good so far IMO. 

2bed 1bath

615 sq ft home

Arv: $215,000

Repairs: $35-$40k (that’s just from her sending me pics of the inside, and me looking from the outside) 

Initial offer: $80k 

I told her that the price is subject to change after an actual inspection of the home and we have a contractor run some accurate numbers on the rehab and I’m going to put it in the contract and she gladly agreed. She’s really motivated to sell. 

So guys, I just did my first ever cold call and I have to say that I think it went well! But we came across a sort of complicated situation. I was D4$ and came across this distressed looking house. I immediately went on white pages and found that the owner is deceased. Came across related people and come to find out she had a son who is also deceased but got in contact with her daughter in law who was married to her deceased son and still carries his last name. The original owner also has a brother but I was told that he is homeless and they have no idea where he would be. My question is would the daughter in law be able to take owner ship of the house or anything of that nature so I can get a contract signed? The house was purchased in 1971 by the deceased owner I believe.

Nice! That’s the way to do it, you have to chase after that contract in this business! Thanks for taking the time to share your story.. 

Josh 

@Patrick Daniel, Thank you for the input! I was just wondering because I've heard people using all different amounts and percentages. Definitely going with the comfort level of the buyer to determine the EMD price. Thanks again!

Quick question, 

How much percentage of EMD do you usually request from the buyer when wholesaling a house? Does it depend on the Arv of the house? or is there a flat percentage you use on all deals?

@Paul Murphy Thank you for chiming into my post! 

That idea sounds like a home run! I definately need to look into that marketing idea. Thank you for your motivation and hope to be in touch with you! 

Josh

@Jonathan M. Hey! thanks for the reply and sorry for the late reply.. I've been really busy between work, wholesaling, and my daughter. Been very busy! I currently haven't started a mailing campaign of any sort but have been using social media to advertise, bandit signs, and mostly driving for dollars. Driving for dollars has probably been the better of the 3 for me. I have some ideas to market that i am going to try out in the next few days. Hopefully it works out. Being about 3 weeks into this business I have an idea of what you mean by how competitive it is. But hey, it makes me want it THAT much more. I'm planning to attend a REIA meeting that i've heard about in Riverside soon. Looking to recruit some potential buyers there. I would love to connect with you sometime my man! Hopefully soon! and thanks again for your words!

Josh

@Dean I. Thanks for your input and sorry for the late reply, i've been working a good amount while also working on my wholesaling marketing. and I've been more busy than ever! I actually do plan to get my RE license in due time. I'm doing my best to research comps and study rehab costs as effectively and accurately as possible so i don't waste neither my or the investors time. Trying to become the best i can be in this business! Thank you again for your words and hope to be in touch with you if i have any questions. 

Josh

@Jay Hinrichs, I completely agree with you about it being a tough and advanced strategy. With the competition as high as it is right now, I am not expecting to land a deal right off the bat. I really feel a passion for real estate investing and I'm willing to push through until i breakthrough. I really appreciate you replying to my post with honest words, as I'm not looking for everyone to tell me that it's an easy process, but the other way around. Thanks again and hope to keep in touch.

@Jose Castillo, Nice! You have to keep grinding to get what you want, no other way around it. I'm working on landing my first deal right now, and gonna keep going until I do! Thanks for your words Jose, More motivation for me! Hope to keep in touch.

@Karen Rittenhouse, Thank you so much for the welcome! I'm ready for the challenge and I'm not going to stop until I reach my goal. I feel a passion for this line of business and excited to start. I hope you and your husband keep killing the real estate business and hope to keep in touch!

@Jorge De Jesus, Hello! Thanks for chiming into my post, I'm ready to work and strive for this business! I eventually want to start flipping if I can be successful in wholesaling. I'm open to learning any and everything anyone has to offer me. I have an open mind to constructive criticism and willing to learn from all who are successful. Thanks again for your words of wisdom Jorge! Hope to keep in touch. 

Josh

Hey everyone! so to start off, My names Josh.  I  joined BP in August of last year and have been chiming in and doing lots of research on different websites, social media, BP, ect while working a full time warehouse job.. I feel like I'm ready to jump into the wholesaling career! I'm extremely motivated and dedicated to making this work! Even though i've done tons of research about this line of work, I'm sure that there are going to be mistakes made but I am ready to learn from them hands on. I'd love to discuss any tips if not, just connect with wholesalers and potential investors willing to give me a chance :) I'm ready to make that first initial sale that everyone talks about.

Just a little about me:

24 years old and really motivated so don't count me out just yet! I have a beautiful 1 year old daughter.  Currently living in San Bernardino, CA but not limited to working only here.  I work full time as a forklift driver as of right now. One of my my goals is to retire by the age of 35. I know its a long shot but i'm willing to work until it happens.

Thanks in advance for taking the time to read my post and I do hope to connect with all of you!

- Josh