All Forum Posts by: Chris Elliott

Thank you all for the responses.

Jeremy, I am asking here because I don't have a current mentor in my marketplace and there are plenty of people I aspire to be like in this awesome community.

Jaren,

I appreciate you responding to my post. Which option would you go with?

Thank you for anyone and everyone reading this post and thank you advance for any and all perspectives, feedback, advice and criticism.

A little background to set the context:

Approx 10 months ago, I met a full time wholesaler at a REIA and joined forces with him, working under him on a split. After a few months of working with him, a deal in the works, and high hopes I quit my full time job. Got a good base of knowledge working with him and was actually able to close 3 deals with his help. Without going into the gory details, that partnership ended 2 days ago.

I'm at a place right now where I have approx 6 months savings built up relative to my expenses, which I would prefer not to burn through if its avoidable. I'm thinking about four different options (but I'm open to any other suggestions):

1) Bootstrap and just hustle hard to wholesale some deals and build upwards from there.

2) Try to join forces with another experienced investor working with/for/under them to get some income coming in and stay in the REI game.

2) Switch my license to a Remax (or other well branded brokerage) and become a full fledged retail agent and after I have a little more money saved up, begin marketing again with direct mail, or pursue another strategy.

3) Go get a 9-5 that would give me some income, and also nights and weekends to wholesale, or pursue another strategy.

Once again, thank you in advance for any and all perspectives, feedback, advice and criticism. I really that wisdom that is available to tap into here.

@Jack Bobeck

I know I am late to the party but one quick sidebar question. Jack you mentioned bringing a painter's mask to help against breathing in the mold. I was in a condo the other day where I couldn't stand to be in the upstairs for more than 2 minutes due to the mold. Will a simple dust mask combat this or do I need to splurge for a more heavy duty mask? I noticed there was a "household" dust mask and than a "painter's" mask that was slightly more expensive. Didn't know if there was really any difference on quality, or if there were just up-selling on the perception of quality.

Thank you in advance for any and all feedback.

Question for the wholesalers out there who have their businesses systematized with the ability to scale:

Do you take all the seller calls live, or let them go to voicemail, an answering service, or a VA? I have heard some top dogs suggest that you should always take seller calls live, when they are the hottest to sell, and I understand the reasoning. But the thought of my phone ringing 24/7 and trying to take all those calls isn't that appealing. At the end of the day, I'll take all the calls if that's what needs to happen to get the job done, but I would really like to figure out a way to remove myself from the equation.

The only things I can think of is to either hire an answering service (lose personal touch), hire a VA (lose personal touch), or hire an in-house sales rep (now responsible for an employee). Not trying to sound negative, just trying to create a more passive business model if possible.

Has anyone figured this out? Any and all feedback is appreciated.

Has anyone had any luck, or deals come from, marketing at gas stations, pawn shops, laundry mats, and other local businesses?

I know some of these places have cork boards, but I want to give these business owners some financial incentive to allow me to market in their establishments.

My stumbling block is how would I track the marketing back to that particular business? Only thing I can think of is ask the prospective seller (may or may not be accurate), or get virtual phone numbers for each business I am marketing at (kind of expensive).

Any and all thoughts or suggestions are appreciated.

Any wholesalers out there had any luck with hiring a deal process / transaction coordinator?

The thought of handing the reigns over to someone else to make sure a deal closes, especially with a wholesale deal, scare me but it would sure free up sometime.

Anyone have any suggestions or had any luck with one while wholesaling?

Thank you K.. Marie. You are the woMAN.

I've heard multiple, experience wholesalers suggest that once you have a great relationship built with your title company, to kindly ask them to give you lists such as absentee owners, high equity owners, etc.

Does anyone know the companies/subscriptions title companies use to get that info? And if so, is that cheaper than getting those same lists through ListSource?

Admittedly, I probably just need to reach out better to my title company but was just curious if anyone knew?

I've heard multiple, experience wholesalers suggest that once you have a great relationship built with your title company, to kindly ask them to give you lists such as absentee owners, high equity owners, etc.

Does anyone know the companies/subscriptions title companies use to get that info? And if so, is that cheaper than getting those same lists through ListSource?

Admittedly, I probably just need to reach out better to my title company but was just curious if anyone knew?