All Forum Posts by: Kurush Italia

HI @Raheem Jamaal,

I like seeing the drive and high goals for yourself. Virtual wholesaling is not for the faint of heart but with proper research and guidance it's definitely possible. I too have started while working a full time job. It's def quite hectic but super rewarding when you wholesale your first property.

To build up to 5 deals/month is not going to happen overnight. I would sit down and think about how much money you have available to invest into wholesaling on a consistent monthly basis for the next 6 months. People think wholesaling is free but it's free if you have time (cold calling, door knocking, driving for dollars). Since I have a full time job I looked into paid marketing like direct mail.

I was on the sidelines all of last year trying to figure out what I wanted to do in real estate because there are so many avenues to choose from. If you are set in virtual wholesaling and really want a step by step way of getting there then I would recommend spending some money and getting a mentor that will give you even more laser focus. If you or anyone needs recommendations on a mentor please PM me.

There are a lot of components that go into wholesaling which isn't impossible but if you end up doing 1 thing wrong (like mailing a bad list) it can set you back even longer. Just be wary of people telling you it cannot be done. It can be done. Like @Sean Walton says I would take a hard look at places that are only an hour away to you. If you are from VA I would look there first. I know for a fact it can be done in Richmond. Remember grass is always greener on the other side. Gluck :)

Thanks everyone for your warm wishes. Now it's back to the grind to find the next one.. Legally of course ;)

John thank you for your concern. I assure you I did close on the property myself so I don't see any illegal activity in this case. I do agree with you however that lots of people are wholesaling and not following the law. I do appreciate the valuable feedback.

There were many layers to this deal as there always is when dealing with motivated sellers. First the seller needed to quickly sell his property in order to pay some of his bills he was behind on. I also learned that the tenants living in the property were a big thorn in his side causing him to sell this rental property out his portfolio first. Some other issues to why he sold for less was that the roof was beyond repair (not insurable) and he was behind on over 2 years of property taxes.

When I originally spoke with him one of the questions I always ask sellers is how much they think the property is worth and he told me $70,000. After that I asked what he would like to walk away with and he said himself $35,000. I ended up actually paying him an extra $500 because the AC compressor broke during escrow and I helped pay 50% of the replacement costs. Selling it for $75,000 is not far off from what he thought the place was worth to begin with. Trying to figure out why people sell their house for less than what it's worth is a guessing game. I just know that when we did close on the property when I spoke to him he was sincerely happy that it was past him.

 Hi Elizabeth I used yellowletters.com. I have learned that answering your calls live is super important, following up on your leads consistently is important as well no matter how unmotivated you think they originally are.

Hey Everybody,

It feels good to finally say that I completed my first real estate transaction! I joined biggerpockets early last year and started learning as much as I possibly could.. maybe even for a little too long. After doing some research I figured out that I wanted to wholesale virtually since I live in the dreaded Southern California market.

After doing some research at the end of last year I settled on Tampa as my new virtual farm area. I started a direct mail campaign for 3000 prospects to target zip codes beginning January of last year. I shortly got a deal under contract the last day of February and closed on it last week (5 weeks start to finish)! The numbers looked a little like this:

Contracted price: $35,500

Sales Price: $75,000

Not bad for my first deal eh? ;)

Bigger pockets has been an amazing resource. Not having stepped foot in Tampa using bigger pockets I found trusted people to work with. This site helped me find @Brandon M. who not only has been great to work with but also a tremendous resource since he invests in Tampa as well. He was my boots on the ground, coordinated showings and performed flawlessly in some tough situations. I'd also like to thank Anchor Title and Associates for their speed in the whole closing process. Their turn around time for all documentation needed was very impressive. All around a very smooth closing for my first ever home purchase. I would recommend both to anyone.

Thank you Bigger Pockets for all the valuable information and networking. This is only the beginning. I'm going to ramp up my marketing and automate my systems. My goal is to wholesale 14 more houses by the end of this year. To all the newbies my word of advice is take action as soon as possible. Sitting on the sidelines learning is great but you really won't learn until you get yourself in those situations so keep putting one foot in front of the other and fall forward. If anyone is interested in the Tampa market feel free to reach out to me.

Hi BP community,

I'm an investor looking into some other markets outside of the dreaded Southern California area. Would anyone be able to help me compile average days on market data for zip codes in Denver Colorado? Any assistance would be greatly appreciated!

Hi BP community,

I'm an investor looking into some other markets outside of the dreaded Southern California area. Would anyone be able to help me compile average days on market data for zip codes in Tucson Arizona? Any assistance would be greatly appreciated!

Hi BP community,

I'm an investor looking into some other markets outside of the dreaded Southern California area. Would anyone be able to help me compile average days on market data for zip codes in Colorado Springs Colorado? Any assistance would be greatly appreciated!

Hi BP community,

I'm an investor looking into some other markets outside of the dreaded Southern California area. Would anyone be able to help me compile average days on market data for zip codes in Eugene Oregon? Any assistance would be greatly appreciated!

Hi BP community,

I'm an investor looking into some other markets outside of the dreaded Southern California area. Would anyone be able to help me compile average days on market data for zip codes in Boise Idaho? Any assistance would be greatly appreciated!