All Forum Posts by: Account Closed

Update: 2 days in with VA, a total of 8 hours. ($48) They have identified 2 sellers, 1 declined our offer, the other we identified has a duplex with a garage that can be rented out separately. $2000 (under market) for the 2 units in rental income for agreed price of 140k, scheduled appt. after Christmas.

I'm looking into adding a VA. I found a company that charges $240 for 40 hours of cold calling, prospecting, skip tracing, and appointment setting. This comes out to about $6 an hour. What have your experiences been with a VA and has it increased your business?

I have come into contact with a landlord that is looking to retire. He has a package of 12 properties and we have agreed on a price that would be under market value based on comps on all properties individually. It is my understanding that he is looking to sell the LLC that the properties are under. Is it possible to get into contract to purchase the LLC, and then assign that contract the same way that I would wholesale an individual property? How would closing work? This is in Monroe County, NY (Rochester, ny).

It is legal, I closed on one last year and I live in NY.  PA makes you pay double transfer tax on assignments because they qualify transfer of equitable interest as a taxable event.  You can negotiate with the buyer or seller to pay the taxes for you, instead I included a buffer in my fee to pay for it.  Like @Dennis Wayne said, you are marketing the contract... not the property.

I think that you would need to disclose to the seller that you are licensed, but are not acting in that capacity. This is because you'll be acting in your own interest rather then trying to help the seller get the most for their property. It could help or hurt, but I've found that some people do not like real estate agents so they decide to sell to a wholesaler or FSBO. You do not need a LLC for your first deal. The seller will know how much your assignment fee is, but you could enter the purchase and sales agreement in an LLC and sell the membership interest of the LLC in place of the assignment fee to the end buyer. The seller would only see the LLC. I have not done this yet but I have heard it can be done. You'll need a general purchase and sales agreement for you and the seller, then an assignment contract for you and the buyer. The buyer is agreeing to anything in the purchase and sales agreement. If you need any of these shoot me a pm and I can send mine to you. I'm in NY. I think that wholesales are very common in lower priced markets, but a bit harder to do in hot markets like NYC, or anywhere in the Northeast. Everybody, even investors are looking for their own deals, so it's really a numbers game. I've tried doing some virtual wholesaling in some midwestern cities, but you'll need some boots on the ground which can make it harder then it already is. CT & NJ are closer though. I would not pay for any courses, everything is pretty free on here.

I set up 2 investor carrot sites a month ago to move away from cold calling.  I'd like to get a more long term solution rather then to keep purchasing lists that everyone else is doing already.  I have raised about $7,000 from wholesales that I am willing to put towards the website.  I am currently in the process of learning seo, but I know that it will take a long time to get at the top of the markets I am targeting (separate landing pages for albany, utica, syracuse, rochester, binghamton, buffalo).  One site is for my listings and the other site is for motivated seller leads.  Investor site is working great, I just put ads on craigslist and now I have a lot more cash buyers.  PPC has been driving traffic to my site, but after spending $500 on ppc in the last 2 weeks, I have only gotten 2 leads, one which is a mobile home in a rural area (unqualified), and one which is in a suburban area with code violations, but after trying to call them twice, I have not heard from them at all.  I know that even if I got one deal, it would pay for itself and more, but I do not want to blow through all of this money on PPC when I could pay for a professional to do my seo, which I am trying to avoid doing since I can learn it myself.  I also was considering facebook ads, those are a lot cheaper but not sure if anyone has done those.  How much have you guys spent on ppc for a deal, and is there something I should do on my website to convert visitors into leads?

slybroadcast $100 for 2000 vm

Don't pay for a course.  All information you need is free online.

Look up name in county assessor then use truepeoplesearch.com

Truepeoplesearch.com is free and pretty accurate.  I put #s in an excel sheet to do RVM.  There are a lot of inactive #s but my RVM service weeds those out and will only send to active #s.