All Forum Posts by: George Cox

Hello, all!

Looking for tips on how I can acquire a list of potential investors for props in Portugal. Perhaps there is a company that captures activity of people who have searched certain terms like "real estate investments Portugal"..etc. Any info is much appreciated.

Hello, all!

Looking for tips on how I can acquire a list of potential investors for props in Portugal. Perhaps there is a company that captures activity of people who have searched certain terms like "real estate investments Portugal"..etc. Any info is much appreciated.

Hello, all!

Looking for tips on how I can acquire a list of potential investors for props in Portugal. Perhaps there is a company that captures activity of people who have searched certain terms like "real estate investments Portugal"..etc. Any info is much appreciated. 

I do Probate and Absentee Owners. The response rate doesn't seem to be as good w/ AOs....do postcards make more sense? I just feel like they go straight to the can...

I'm an agent/investor here in Philly. If you send me the address I can look it up...

At least in my area...it's hard to get an REO for the numbers you need for it to make sense as a wholesale deal. Please know that you can't assign the contract so you will have to buy it and sell it doing a back-to-back using your funds or transactional funding (which comes with an expense). Some banks require a hefty down payment such as 10%. But again, the real challenge for me has been getting the prop for the right number. Once I've factored in the cost of the funding and my assignment fee, there is almost always someone else out there to outbid me. Especially if the property is half decent...

Direct mail campaigns don't come cheap. Costs really add up, even if you are outsourcing to a company to do it for you. Then there's the cost of the leads themselves. I go after estate properties and in Philly, those leads don't come cheap. I've heard a lot about online marketing bringing in deals. Of course you have CL and backpage etc...but some folks are talking about getting found by motivated sellers on search engines. Anybody know a good strategy to position yourself online and attract deals....besides an expensive website?

I agree. If you have a deal under contract that leaves a healthy spread for the next guy, it won't be hard to find a buyer. Yes, you do need to know where to look, but that's the easy part. In an active market you can post your prop on CL and find a buyer no problem. Much harder finding the deal in the 1st place. If you are wondering where to invest your time on education, concentrate on the front end....

Karen M. - not accurate. If it is an REO there can be no assignment...therefore either she will need to buy it with cash or do a back to back. There are plenty of companies that will provide transactional funding to close the deal. They all offer a POF letter after inputting some basic info on the deal. Works like a charm, I've done it plenty of times.

I'm really starting to get excited about this site and do see the value in it. I hope to be more active in posting and responding here...

Meanwhile, I see a lot of people here "thinking" of investing, "scared" to fail, "uncertain" of what to do or how to work a deal. Here are my two cents - Hook up w/ a mentor! Find a seasoned investor who will take the time out and show you the ins and outs of investing. FORGET THE EXPENSIVE GURUS! They are nothing more than mass marketers! Can you find a quality training program out there - yes. But, there is nothing better than finding someone who is personally committed to your success. Is this an easy find? No. But, there are a lot of good people w/ big hearts out there who enjoy helping others.

I was fortunate enough to have a mentor who I worked side by side w/. Our agreement was that we would split deals together. He usually charges $6k for his mentorship program. But, he saw that I was serious, I followed through, and that I would not stop until I was doing deals. Our 1st wholesale deal was a $9500 assignment fee. Since then we have parted ways but we frequently have lunch together and I pick his brain sometimes. He is always happy to help.....the knowledge that I gained is worth gold 10 times over!

Another important point for those looking to start out is this - you need the Nike mentality - JUST DO IT! Want to find deals? MARKET! Start off w/ a list of potentially motivated sellers and buy some postcards...send them out! Don't get discouraged if no one calls right away, just keep at it. Once you make that 1st deal and pick up that $5k check (I'm a wholesaler so I'm just talking wholesale deals here), take a minimum of 15% and reinvest it in your business. Repeat the process...don't try to reinvent the wheel. Have fun! Don't lie! Be positive and KNOW that you will succeed.

Whew, there's my rant. I better switch to decaf....