All Forum Posts by: Leonardo Cadenazzi

Thank everyone for the response i really appreciate everybody's input. Its is certainly motivating and confusing.

Wayne Brooks I am targeting owners with equity, mortgages assigned between 1900 and 1999, + pre foreclosure and no short sales at this point.

Tim G. I choose wholesaling for two reasons, one is because it is a simple concept. I believe i can learn a lot and start from ground up. I am not attracted to the other side of real estate, like being a broker, nothing wrong with it is just not what i want to do. The goal in pure investment money in and money out. And is a great feeling to know i can help folks along the way either by helping them out of a situation they do not want to be in and other folks to get their dream home, once i start flipping and buying and holding.

The other reason is that what i do today as an artist holds me back. I make good money but i have no proof of income due to the nature of the business. I want to be able to prove my income so i can have access to bank loans in the future. On top of that i want to grow and do more then what i am doing right now.

Tim a appreciate your help and i would love to work with someone with your experience. if you think i am someone you would like to work with let me know, 50/50 sounds fair to me.

Andrew Massaro Thank you, i will fine tune my leads list i believe that will help.

I was told before that California is a tough market, what do you think of investing in other markets? should a newbie with no experience wholesale out of state?

Thanks

I need help. I started wholesaling a few months ago with a little help from a friend of a friend who happened to be in town that weekend. I am in San Diego and he lives and do business in Arizona.

With his help i learned how to get leads, marketing, net working building a buyers list etc. He is helpful but he is not really looking to work together with me. Dont get me wrong i am not looking for someone to hold my hand and give me deals i am willing to do the work and put in the time, i just have not found the most effective way to do it and that is why i am looking for help.

I have sent twice 1000 yellow letters with leads from listsource.com targeting absent owners and in pre foreclosure situations. I received a good amount of phone calls, a few of them wanted to hear what could offer but none of them where really motivated. I visited two properties i made offers i kept in touch with them and nothing happened.

I understand is not easy to get deals much less in one or tow tries but i was hoping to find more motivated sellers. It was a little strange to me that all those people in pre-foreclosure were not motivated at all.

I am a little lost and not so sure about what to do next. I would like to work with someone with experience in the business. I have time to invest and i am very motivated.

Is any onewilling to partner up with me? We can split the deals any way we find fair.

I also want to learn the rehab business so if any flippers in San Diego are in need or just want a helping hand i can be your guy. I have entire mornings free to help any one do their work, all i want is a chance to learn.

Thanks.

Leo Cadenazzi

Newbie question...what is skip tracing?

Jerry K...what are distressed notes?

Thanks

Jennifer thank you for shearing its great information. I juts might have to do it.

Would you mind keeping us updated? I really would like to know how it turns out for you.

Steven Gottlieb... Does the software give you the owners address as well as the homes itself, or you sent your letters to the the vacant property hoping that the owner will get them?

Thanks

The idea is to send to the owner not to the vacant home. I believe you already know that. It is a good question. Lets ask Mr. Gottlieb.

Thanks everyone for the feed back.

Phil... I thought it was BS too so that is why i am here asking the BP Community. Doing homework first.

Dean... This is a different software. You can find out about is his website.

Steven Gottlieb... Thank you for sharing your experience. For how long have you being using the software? Are you really getting new updates every week ?

Does any one know anything about Kent Clothier's new software designed to find vacant homes?

I have not found any information or reviews on the internet. I would like to know if it is worth the $995.

Thanks.

Leo

Thanks everyone for all the help, i will take it all into consideration.

Michael i used Listsource.com, searched for pre foreclosures with absentee owners. 1000 letters sent out.

Can anyone help me with my first wholesale deal ?

I am closing in on a property i found today after sending out my first yellow letter campaign. The letter arrived at the owners mail boxes last Thursday and the phone started to ring immediately, twelve calls on the first day.
After listening to a couple rude massages i started to find some nice people to talk numbers with, but no motivated sellers.

This afternoon i received a call from a very nice lady saying the she actually needs to sell not only one property but two. The properties a side by side in a nice residential area of San Diego.

One of the houses is 1080 sq ft and the other 706 sq ft both in very nice size lots 9000 sq ft. Both of them need extensive renovation. I have done the comps and checked all the number, no problem here, i think i am doing a good job avoiding analysis paralysis. I just have some things i am not so sure about.

What would be a good "guesstimate" renovation price p/ sq ft for CA or
San Diego?

Should i stick to the 70% rule no matter what? When do i go up and how high should i never go?

What would be a fair wholesale fee? Does anyone use a formula for that?

Average AVR $268.000

I am sending a offer in the morning.

Thanks