All Forum Posts by: Mike Tooley

I found a cash buyer for another wholesaler.  What should I expect to get paid for a finders fee?  Also, does this come out of wholesalers profit?

@Jeff B. What is your preferred method to get motivated sellers?  Do you still do direct mail even though the return rate is low?

I'm getting ready to market to property owners with tax liens. When I get a motivated seller, how is the tax lien handled? Is the lien amount deducted from my offering price? Or does it get paid from seller proceeds (escrow pays tax assessor)?  Where does the "buyer" come in to play with liens? Any help with this would be great!

Doug R. Hey Doug!
Check out Brandon Foken's Blog at www.adventuresinbayarearealestate.com. It's called How-To Guide: Yellow Letters. He outlines every step on how to print out a yellow letter using Mail Merge. Good stuff if you wanna print them yourself.

Thanks Braden. Great advice!

Anyone else wanna give an opinion? I would appreciate it.

I'm been researching this wholesale business for awhile, and I was definitely in "analysis paralysis". I heard from so many people to just go and "do it" and you'll learn on the way. So I did!

So I just got my first decent lead after sending out my letters last week!!!! (Thank you very much!) I just got off the phone with a lady and we talked for over an hour about her property, her situation, etc. I told her I would run some numbers and get back to her with an offer within a couple of days.

A couple of questions. Should I email, call her, meet her, with my offer? What do you suggest? What should I give her, a one page offer? Comps? How I arrived at my offer (a Mike Cantu recommendation)? Maybe even give her a contract to sign???

Any thoughts? I'm all ears!!

Tim Mclaughlin One thing I do to get buyers is post an ad on Craigslist in the Houses For Sale area. I post in the ad that I'm a wholesaler in whatever county and I'm looking to update my Buyers List. Looking for Cash Buyers only. Call me at 123-456-7890.

It's straight and to the point, it's honest, and my phone rings with buyers within a couple hours! Super easy and it doesn't cost me a dime (or is it a quarter these days)!!

Ned Carey If a buyer has to honor the existing lease, couldn't this deter a flipper from purchasing property? As a buy and hold, it would be great to have tenants already in place.

As far as "Cash for Keys". I'm guessing the new buyer pays that outta pocket?

I'm marketing to absentee owners and was wondering what happens to the tenants when you close a deal? Does the seller have to evict them? (Don't think that's legal!) I'm sure if I sell it to a rehabber, they don't want to deal with tenants.....or maybe they wanna keep them in place. Just thinking about different scenarios and thought I'd throw it out to the experts!

Great idea Karen Margrave! I live in South Orange County and work in Dana Point!