All Forum Posts by: Tony Walker

I'm a new investor and trying to figure out how to get the best bang for my limited buck. Let's say I have $500 a month that I can spend on marketing until I get my first deal completed. What is the best way to market (I'm looking to either wholesale ugly properties or lease option pretty ones).

My original thinking was:

a) get an answering service and a zero option for a live operator to capture leads (probably $75 per month on average)

b) bandit signs (buy 200) "we buy houses" at a cost of about $350 or so (one time expense). don't know if stakes are included or not (metal or wood?)

c) some limited and very targeted direct mail (no idea on costs to acquire a target list, such as out-of-state owners or expired listings, etc.).

d) hand out flyers/business cards that say "we buy houses" etc.

If you had $500 per month to spend, I think my original thinking would be over budget, not including the one-time expenses of bandit signs, but not sure. Where would I get the best bang for my buck?

Thanks!

I'm so irritated right now I could choke my husband. Anyway, the gal who was willing to pay 1 year in advance met with him tonite. He had called her last night and she said paying the 1 year wouldn't be a problem and she sounded very excited. Well, tonite she tells him that she can only pay 6 months in advance because she needs to buy furniture. He said no and the best he could offer her under the circumstances was 10 months. She agreed and wrote a check for almost 6k.

Now, why am I so peturbed by this? For one he didn't call me to consult. Second, this is a guy who is very business savvy and has always taught me to walk away from a deal. Then he compromises. I guess I'm just disappointed. I think this gal would of paid the 1 year if he insisted. He says he doesn't know if she would of but she was positive on the phone last night...uhhg! So in any case he is in the dog house....at least until he cuts me a check for 3k (HALF!!) LOL! :mrgreen:

I have a property I got the bank to approve for 62k and I have a End Buyer who would pay $67,500, the Realtor would not use my contract and she's telling me I can not assign it. Is there anything that I can do.

Jared

Hey Arlene, Thanks for being honest about DC Fawcetts program. I agree with you that it sounds good but you need quick communication to get things done. Since I made that post, I've joined facebook (I know Im way behind the times) and I've made a large network of "friends" and the information is great (and free)
:D

My name is Jason and Im new to BP...I am a wholesaler and love promoting my business and work ethic! I enjoy finding you investors great deals but you better hurry cause when I have BP (ha!) I will start keeping some for my retirement portfolio!

The 1st 48 on A&E keeps Memphis properties cheap for investors!!! lol

that was not the question . i am just the investor wandering i if i should keep pursuing the short sale or just walk? I have already advised them to seek counselling

Jason, I am a hard money mortgage broker and deal with these transactions on a regular basis. First, if the Seller is involved in a short sale, he has to be selling it to someone. Part of the documentation the mortgage holder wants is a signed purchase and sale contract. So, who is the Seller selling to? Second, you need to get control of the subject property (or the investor you want to wholesale to). This means you have to be the purchaser, or purchase the option to buy the house, or your investor steps in to control the "deal". Third, in the meant time, to get your investor involved you have to sign an agreement with him (before you tell him about the property) so you get paid and so he won't go around you to the seller. Once all this is done, the seller (or his representative) negotiates with the mortgage holder for the short sale price. When that is accomplished, someone (your investor) then gets his financing in order and purchase the house. You should be paid either when he buys the house, or when he sells the house. (You should think about doing this project with your investor as a "junior partner" and learn all you can) And, rememeber me when you or your investor is looking for hard money in Chicago.