All Forum Posts by: Nathan S.

@Patrick Jackson Thank you for the detailed response, it's much appreciated! I am looking into some of the products, techniques, and strategies you mentioned.

Hi All,

What technology tools are you using to improve your efficiency and productivity in your wholesale/flipping/investing businesses? What are your preferred choices in the following 6 categories and why?

1. CRM

2. Dialer 

3. Skiptracing 

4. Lists

5. Marketing

6. Other

In general cold calling is a mixed bag. It does work for a lot of people and businesses who stick to it, but it is a numbers game. Some people may not answer on the first call, but will answer in 3-5 calls. What time of day are you calling? I would suggest in the morning before people work, and in the afternoon when they are getting off work. 

I am not currently using any dialers, but have had some success with Vulcan 7 a few years ago. I have heard others say they like Mojo, but I cant personally speak on the quality of the numbers.

@Guillermo Oyola Bonuses can be a great way to motivate contractors. I personally wouldn't go overboard where it may set a precedent to do the same on every job. I would make it very clear that it's for a fast and quality job well done. David Greene goes over this topic pretty extensively in one of his books. Prior to the start of the job get an itemized list of all work and materials needed. Ask the contractor how long the job will take to complete. Write up a little contract with the itemized bid he gave you and say that if he finishes early from the agreed upon date, that you will provide a 3%-5%(whatever you feel comfortable)bonus pending your approval on the quality of the work and that there are no mistakes he needs to come back and fix. On the same contract you can also say that any day over the agreed finish date that he will be penalized a certain amount per day. Gives you the advantage of both positive and negative reinforcement and should keep them more accountable and have a more professional and transparent relationship.

Hi BiggerPockets Community,

Curious to hear how the other wholesalers and flippers here identify the areas they work in and market to, in order to find deals. Here are a few questions below:

1. Do you focus on neighborhoods, towns, cities, counties, divorcees, absentee owners, probates, tax delinquencies, etc and why? 

2. What metrics, KPIs, techniques, relationships, and technology tools do you use to identify your desired market area, as well as the tools and strategies to market that same area? 

3. What has worked for you, and what have you found to be a waste of time, money, or both? 

4. Do you have a marketing budget? If so, how much did you start with and how much do you allocate toward that budget now(monthly or yearly)?

Look forward to your responses.

Hi BiggerPockets Community,

I am looking to find or be connected with great banks, credit unions, and hard money lenders to work with in Southern California. What do you typically look for or avoid, and where have you had your positive experiences? I just started a flip and wholesaling business and will be opening a business account for the business(LLC) for credit cards, expenses, and overall clean accounting. Not sure which bank I should go through, or if it may be better to use a credit union to build a relationship for better lending options later, what do you think?

I do have a few private money partners that can finance deals I find. However, I do anticipate finding deals that may not fit what they like, but that I personally may want to pursue.  I am looking for private money lenders and other lending/financial institutions that I could work with in the instances where my private money partners pass, but the deal is too good to pass up. 

What would you do if you find a good deal and all your established partners decide to pass, but you feel you need to pursue it yourself?

Thank you for reading, and appreciate all referrals and feedback you are able to provide.