All Forum Posts by: James Turner

Hey Joel, I like the concept a lot. Seems like it would benefit my business a lot after we buy the 36 unit. Thanks, James

@Darius Lipsey, Indiana's eviction laws are very owner friendly so I think it wouldn't be that hard to do what your trying to do. What you have to find is someone with a 3/4 plex with month to month tenants, or leases about to expire so you can occupy a unit shortly after close. 

If you can't find that type of situation. I would consider looking into hard money lenders to purchase the property AND provide 100% of the rehab cost. The down payment requirement would be 20-25% of total cost, but that would get you into rehabbed property under market value. 

At that point, you would refinance with a more traditional lender and maybe even get some cash out from the refinance. 

@Ariella Sherman, I recommend finding another lender as well. I purchased a 2 Unit for 40K using off market marketing in South Bend and got Purdue Federal Credit Union (They have a location in LaPorte, IN) allowed me to get loan with 30% Down with 15 year Term. I did have a preexisting relationship with them with my car loan tho. 

Other local banks to South Bend are 1st Source, Notre Dame Federal Credit Union, Teachers Credit Union, AAA Credit Union. 

Giovanni Oliva it's very possible. I've done it on multiple deals but you run the risk of having the seller back out of the contract since it isn't validated by EM.

Derrick Powell got any contacts in the South Bend market? There is a 6 unit that I'm looking to get financing on

Joseph Mcmahon wholesaling is all about building a system that allows you to work smart. I've done a few deals in Chicago and South Bend, IN but now that I have the systems in place makes it a lot easier.

Hi @Bracha Pushkin,

I'm actively interviewing PM companies now to establish my team when I start to buy and hold. Do you mind letting me know who she working with now?

I'll be sure to let you know the better options after doing some more interviews.

Thanks,
James

@Antonio Cerqueira

I use RingCentral and the cost gets very high if you need a direct phone line for each number. I pay the same in taxes as I say in services charges. Keep that in mind as your evaluating RingCentral.

@Joshua Jarvis

I use Infusionsoft heavily to track leads through the sales process from initial call to contact, emailing out deals, and lead generation for build a robust buyers list. 

If your only looking for the email marketing aspects, I would agree its overkill. I love Infusionsoft because it tracks not only their email activity but also how they engage with my website.

I'm using this data to build logic to determine when a buyer is a hot lead based on their behavior. This has allowed me to know a buyer was going to call based on how deeply they engaged in opening the email, click the marketing doc, and clicking comps.

It's my hope to build out a process were I'd be able to proactively reach out at the right moment in time.

@Brandon Joyner

Kudus for creativity, but you place a big risk in scaring the homeowner as you taking photos of a house they currently live in. In addition, the biggest piece of advice I could provide is to ensure your wholesaling activities are highly scalable so you can produce the volume required to get consistent deals.

I'm very much in the beginner stage but I use the standard yellow letter from YellowLetters.com when sending out direct mail.

If you'd like to be more personal and will be driving by the home, you might you consider knocking on their door and asking them "Do they know anybody in the area that might consider selling their house as you interested in moving into the area". Who knows, they might just say they are interested in selling.