All Forum Posts by: Lamar George

I do a ton of outreach to wholesalers. I comp a lot of their properties and 9 times out of 10 the number never make sense. I take the approach of educating wholesalers how to comp a property properly. I have a HUGE buyers list and help wholesalers sell their deals but I need them to be tuned up to valueing a property correctly. 

Those wholesalers that take my advice tend to make more money with me because their numbers are starting to make sense. Too many wholesalers get their info from youtube and not from a mentor or a coach to correct them when they are off. 

I love working with wholesalers. I just learned to help educate and you will be amazed at the deals you get from the ones that take the business serious. 

Last thing just came to mind. If you are a wholesaler keep this in mind. 

This business is about moving volume. If you try to go for the biggest assignment fee then there is no meat on the bones for a buyer.They will stop lookiong at your deals. However if you think volume and not highest profit you will move more propertied and have sticky buyers. 

I recently schooled a wholesaler thast brought a great property but because he was trying to get a 25k assigment the number did not work. If he woulf have went for a quick 5k-10k I would have been able to sell his deal fast. Instead of this wholesaler closing 5+ deals in a month to get 25K or more he wants a 1 25K shot on a deal that may never move in a month. The key is volume

I actually think that many are being pesimistic about the change in the market. This is a great time to wholesale. The market will continue to see low inventory. The last 2 years was like the wild west in real estate. The days are gone where locking up a deal at 75-85% of ARV is not going to work.

We need to get back to the fundamentals of wholesaling. Yes buyers are tightening up their criteria. All this means is we go back to the fundamentals. In fact I believe that the best option for wholesaling is to learn how to do creative finance especially with more foreclosures hitting the market. 

There are deals out there. Myself and many others are still finding and wholesaling deals. Don't let the noise of speculation affect your mindset and ambition. Get out there and keep the hustle moving. We are still helping wholesalers sell their deals. Buyers are still hungry they just decided to eat a little healthier.

I always start with the buyer. A buyer wll determine the area you should look in and the price. Find your buyers first then look for the deal. That you know what you are looking for. 

Find Buyers

In your market look up recent flips

Reverse engineer the LLC

Skip trace owner of LLC

Call Them build rapport

and boom you know where to look and what to look for

Cheapest way drive for dollars

Nakiah,

What specifically are you struggling with? 

If it is buyers then squad up with others more experienced than you. Find dispo wholesalers like myself that has a huge buyers that you can JV on and get the deal sold.

If it is cold  calling sellers use the 4 pillars when you get on the phone.

You need to Know

1. Condition

2. timeline

3. Motivation

4. Price

Follow this formula when talking to sellers and you can come up with a solution to their problem. They will know, like and trust you.

Hope this helps

Mya How are you?

I sew you got a lot of answers tou your question. Let me share the HOW

Free Method

Go to zillow in your market

Look for recent sold properties.

Check to see if the are fix and flips by the pictures.

Go to public records in your market and look up the seller of the flipped property. 

use open corporates to look up LLC info

Check for member name and mailing address (Smart investors like myself hide LLC ownership many don't)

Use a skip trace service to look up Owner of LLC

Call them build rapport (talk about the flip they just did)

Using this method you will find cash buyers in your market and you will know what areas, type of houses, and what they pay. 

I hope this helps. If you have any questions hit me up anytime.

When dealing with agents it is best to let them draw up a contract using the state form. All you need to do when submitting your offer to an agent is to make sure you add your clauses. Also make sure read through their contract. Here is an offer template you can use.

Purchasen Price:
Financing: Cash - no loan/appraisal contigency
Vesting: (Your Company Name) and/or assigns
Inspection Period: $1000 5 Days after MEC
Title/Escrow:
Realtor Commission: To be Paid by seller
COE: 15 Business Days

Additional Terms: (put your clauses here)

Hope this helps

I would love to connect with you. I am a buyer in MO. 

Hey Josh Name is Lamar. I would love to connect with you and help out any way I can.

 There are 3 things of value I can bring to anyone in here. Hit me up anytime.
1. I can provide comps for your properties.
2. I have a wholesale contract ($3200 value) that was created for Pace Morby that I can share.
3. If you're in need of micro funding for things like EMD, I've been known to loan money from time to time.
Let’s work together to close some deals and make some 💰!

When calling sellers you find driving for dollars. (I still do D4D I enjoy it) Use the 4 pillars.

1. Condition

2. Timeline

3. Motivation

4. Price

Stick to this formula and your negotiation skills will improve. Remember find the motivation then you can offer a solution. Hope this helps. 1 More thing. No need to tell the seller you will wholesale. Instead tell them you have partners that may partner with you and close or something like that. Use your partner as leverage. If it is a big assignment fee Double close.

@Blake Schreckhise some call this strategy Velocity Banking. It takes discipline however if done correctly you could pay off a 30yr mortgage in 5-7.

Checkout a young cat named Denzel Napoleon Rodriguez on youtube. He iniws his stuff and shiws tons of case studies.