All Forum Posts by: Michael Rivers

@Douglas Snook Yes I have read in some posts that it is illegal but I'm speaking with some lawyers about it right now to make sure I am doing everything by the books.  

From what I have seen, mostly agents are saying it's illegal and mostly investors are saying it's not.  

I'll be making sure I follow what my attorney says exactly to make sure I am not breaking any laws.  Appreciate the heads up.

Gotcha, thanks @Enis Shehu

Hey @Rickey Miller Jr

Thanks for the input. Definitely good call with the smaller facebook groups. That is probably a better way to zero in on smaller local crowd than a forum post to all of BP.

I have reached out to a few attorneys so far but not all of them deal with investors and even less it seems deal with wholesalers.

I’ll keep digging but thank you for the tips, take care

Hi BP,

My understanding is to wholesale I need 3 documents:

1) Offer Letter (Is this optional?) for use between ME and SELLER

2) P&S contract with assignment clause for use between ME and SELLER.

3) Assignment Contact for use between END BUYER and ME with wholesale fee included.

Is that correct? and if so, should I have a lawyer draft them up? Or is there a place to get standard Massachusetts State approved files that I can have edited by an attorney?

Thanks for the time BP!

-Mike

@Enis Shehu would you mind sending it my way as well please? Thank you!

Hi All,

Trying to create a marketing strategy and I am hoping you have some recommendations for the best/efficient and most personalized looking yellow letters for high open rates.  Ideally a site/software that pulls names and addresses from a database right into the letter text and on the envelope with a handwritten appearance.

What's best and why?

I am fairly new to the REI world and am currently trying to bird-dog in Boston. If I find one of my driving for dollars leads or motivated sellers is upside down, but I am only looking to wholesale right now, what are my options?

 I don't want to leave someone hanging who actually needs help getting out of a property.  Do I refer them to a local subject-to investor? Tell them to try a short-sale to avoid foreclosure?  

Thanks

-Mike

Thanks @David Nacco - Yes I have reached out to a few local companies already but haven't found one that is really willing to get into how they have worked with wholesalers/'bird-dogs' in Boston, so I'm still lacking some procedural info. I just need to understand what my process will be so I have every answer to all of sellers questions before I start pushing marketing out. 

And I am speaking to attorneys as well to make sure I'm not breaking any laws so thanks for that advice.

For now I'll be continuing to look for Boston-area investors/flippers with experience partnering with bird-dogs/wholesalers or actual wholesalers who can give me a little insight. 

Thanks again

-Mike

Totally agree @David Nacco.  It's not the putting listed deals together that I am after, but rather helping out the people who aren't going to be able to list their properties solve their problems.  Then I could rehab the property and sell for a profit or hang on to it as a buy and hold.  

I suppose what I am really looking for currently is a mentor in the fix/flip realm.  But I don't want to be a worthless time-suck to them, so I'd like to be able to at least bring them off-market deals via motivated sellers that cannot or will not go through normal channels anyway. 

Just trying to navigate the best way to go about this and certainly want to keep it legal and ethical.

@Jay Hinrichs

Right, totally makes sense. I guess my endgame is investing but the road there may involve more marketing etc...

Thanks again for the feedback

-Mike