All Forum Posts by: Michael Aanerud

Hey everyone, thanks for the tips. Well the meeting went pretty well. After walking through the house with the owner and having good conversation, it basically turns out that they were not motivated sellers. I did homework all night pulling comps, getting prepared, practicing what I was going to say. After about a half hour of I finally told them my price, they would not give me theirs, and according to the seller " that number is not even in the same galaxy as what we were thinking".

I felt I made a fair offer on what I feel I could sell it for but they did not want anything to do with my offer. So I said thank you for their time, told them to call me with any further questions, and I was on my way.

All in all, i did not get the contract but it was a great first step and learning experience. Thank you to everyone for your help.

Thank you all so much for your responses. I have learned a lot from this topic and appreciate your feedback. Thank you

Thank you for your point Ned and I completely agree. In my situation the seller is completely aware of my attentions. I would never do anything out of proper ethics. I am still learning though so that is what arise these questions. I hope this does not come off as anything other than trying to learn the industry of wholesaling.

amazing and inspirational! Thank you for sharing

Hello BP network,

I have another question? Is there a formal "contract" or letter to use to cancel a contract if for some reason we have to exercise the contingency plan?

So say we have a contract for a price, but we were unable to assign the property so now we want to back out. Now what??

Thanks for the help,

-Mike

Thank you so much Ned. I really appreciate the help. Cheers, Let me know when you come to wine country. :-)

Thank you for the responses. I was kind of hoping for more tips though?? Anyone?

Hello BP Network,

I am so excited right now. My brother and I have been studying wholesaling for about 2 weeks now and just today, we got our first break. I have another full time job and when driving home today, I decided to take the long way home and write down some address so i can contact them via Yellow letter. As I was driving i see a " For sale by owner " sign. I called her and now I have a meeting set up for 8:15am tomorrow.

I sure hope I am prepared. I have a contract, although I am not confident that it is perfect. The property is comping out around $500,000 so I am nervous about picking apart the finer details of the house in order to get it for the best deal. The property is actually in really good shape although the house is 40 years out dated inside. It sounds like a brother and sister own it now and they have been having it as a rental for the past 2 years ( information courtesy of their neighbor).

Can anyone help me? Does anyone feel like jumping on the phone with me and giving me pointers? I got a case of premium California wine with your name on it if you do. Thank you in advance for any help that comes from this post. I am all ears and hope so bad this deal is successful.

Cheers,

Great story. Than you for sharing

Thank you so much everyone for the warm welcome. I will sure to be very active on BP. So you know, I found your pod cast on Sticher and now my network of about 15 people listen to every new episode. Keep up the great work and thank you.

Cheers,