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All Forum Posts by: Nick Kent

Nick Kent has started 2 posts and replied 7 times.

Post: Assignment / Compensation fee help!!!

Nick KentPosted
  • San Diego, CA
  • Posts 7
  • Votes 4

My tactic is going to be (and my first deal, had it not fallen through would have gone this way) is to get a property that has a motivated seller. Then connect with another wholesaler in the area where the house is(I do virtual wholesaling too) and tell them I'm willing to do a 50/50 deal. I pull comps for that house then get seller to sign contract for a price we agree on and then work with the other wholesaler to do a walkthrough and to also help move the property to a rehabber. Of course you have to sign a joint venture agreement before you do this with another wholesaler.

Post: Assignment / Compensation fee help!!!

Nick KentPosted
  • San Diego, CA
  • Posts 7
  • Votes 4

So...you agreed on a price (your contract price). And the seller is trying to sell it on his own lower then the price you agreed on (the contract price)? I would just tell him "that's fine we can sell it lower then the contracted price, but we have to negotiate that price within the contract too." You can't just try to sell it outside the contract. Once he signed you have control of the property for (however much time it is). 

If you have an inspection clause in there you can easily just walk through and be like "yup, this property isn't worth as much as we negotiated." Then you can re-negotiate the contract. I've heard of wholesalers that ask what the owner wants for their property and gives them agreement no matter what or how crazy their price is. Because it gives them time to go look at the property and then they can re-negotiate a price.

Post: How to avoid the pissed off person calling about bandit signs?

Nick KentPosted
  • San Diego, CA
  • Posts 7
  • Votes 4
Originally posted by @Joseph Theriault:

Thanks Joseph. My biggest marketing effort is to point people that I am local. So I am worried google voice will give the impression I am some company. Thoughts?

@Joseph Theriault (the mention doesn't seem to work no matter what I do)

I would use a google voice number to pre screen people, and if they are pissed, ignore them, delete voice message and onto the next one. You can get a google voice number with any area code you want. 

You could even have it as an voice message that tells people what you do and what you can offer them and if they are serious to leave a message. If they want to listen to all of the voice message to leave a hate message and feel that helps them get some frustration out. Then you can delete the hate mails. 

And if you're talking to someone who called I'd just tell them "well looks like I'll be extending my marketing to all the billboards then." That seems like a fun "back attaché." But in the end wish them a good day. I seriously try to remain as professional as possible no matter what they are throwing at me. I even had some guy call me and he was extremely hostile. I was just like "I understand how you feel, however, I'm just doing what I have to do to get the service that I provide and the help I can offer out there." Keep in mind this was after he had been speaking to me with EXTREME violence on the phone and belittling me. And after I said that he said "Wow you're extremely professional. You know what? I wish you the best in your future ventures and this just shows the caliber of person that you are." We hung up and all was good. Catch more flies with honey. No point in telling them to goto hell. This wasn't from bandit signs (I don't do them) it was just from post card mailings.

ALWAYS be professional. No matter what. That's just the way I work.

Nick

Post: how to begin wholesaling

Nick KentPosted
  • San Diego, CA
  • Posts 7
  • Votes 4
Originally posted by @Rotonda Maunu:

@Peter MacKercher and @Joseph Ball@Carol Zeroual@Brandon Proctor thank you all for the insights and invaluable information. Also thanks for the support. @John Horner I'm sorry John I might be a little slow but I don't know why someone wouldn't finance a guru's education if it was a proven system that worked and they could get a return on it. Isn't an investment an investment if it makes you money. Robert K. calls things that put money in your pocket an asset.

@Rotonda Maunu There are too many variables for an investor to want to take the risk. The biggest one is investing in SOMEONE not necessarily SOMETHING. In order for an investor to invest in a person you would have to already have a proven track record of something. Because they don't want to be like "so how is the real estate thing coming?" And then the person they invested in is like "well....my kid got sick, and then I had to take my dog to the vet. My car also broke down and so I got that in the shop for a week. But after that! I'll be hitting the road hard!" Like that is the LAST thing an investor wants to hear."

Post: how to begin wholesaling

Nick KentPosted
  • San Diego, CA
  • Posts 7
  • Votes 4
Originally posted by @Rotonda Maunu:

These post are very informative and quite humorous to say the least and I like that. I know that a lot of people are knocking the rich dad poor dad training but I actually think that it's a great training program if you can afford it. My instructor was a millionaire just from the information she learned by taking the rich dad training. I learned so much this weekend, I learned things like our U.S. $1.00 is only work $0.03 cents. I also learned that we are in big trouble if we don't invest in assest, the stock market and savings are not reliable and that the middle class is disappearing. I learned so much more about asset protection and relief. Maybe you guys are all financial wizards and financially savvy but for me I'm in preschool. Yes the price is steep but you get what you pay for. If I had the money to pay I could be closing a deal today instead of trying to figure out this website and navigate all this free information. So everything has it's plus and minuses. I am very grateful for this site and for all the helpful information and friendly caring people but I would much rather have a mentor helping me holding my hand and walking me thru step by step. That would give me more confidence and more tools. Thank you all for your great insight. Although it's not the rich dad training that I hoped for it is greatly appreciated.

You don't really have to buy a 45k guru course in order to get a mentor. I wanted a mentor, and all I did was network with people and I found a mentor for free. Any other wholesaler would love to have a really motivated wholesaler (as long as you are motivated and they believe in you) out there fishing for deals that he or she will get 50/50 of. 

Just signing up for a course and reading it won't really build your confidence like you think it will I don't think...It's actually going through the actions that will help you build confidence and begin to understand different angles you can work deals at. A 45k guru program is a waste of money in my opinion. I have no idea about the course (like whether it's worth it or not) but when I goto those seminars I'm definitely listening to everything they are saying with skepticism. 

Also, they are going to pull the "cream of the crop" to show you. They aren't going to show you the other 10,000 people that bought the program and are still sitting on the couch without a single deal to their name. They take that one person who had every single puzzle piece fall perfectly in place. They also don't show you everything that individual may have done on their own (due diligence when it comes to laws, how to do comps, rehab costs). 

Because, if you think about it, if the program had such a great success rate, they would just be like "the program is free but we get 75% of the profits from your first (however many deals). I mean that, to me, would be telling me "ok this is the real deal and you will succeed once you start this program. 

Nothing in this business comes easy. Everyone looks for the "magic button." Unfortunately, that button doesn't exist, and the ones that keep looking for it will just end up spending a lot of money and not really learning anything. Meanwhile, the person who just went about it the hard way is way ahead of the "magic button" seeker.

Just my opinion. And I'm still green myself. So maybe I'm completely wrong.

Post: Door knocking

Nick KentPosted
  • San Diego, CA
  • Posts 7
  • Votes 4

Hey BP!

I am wanting to take a more active role in finding deals and am wanting to do some door knocking. Is there anyone who has a strategy when it comes to door knocking? Like a script? Specific houses you target? 

Thanks!

Nick

Post: Re-invented profile

Nick KentPosted
  • San Diego, CA
  • Posts 7
  • Votes 4

Hey guys,

My previous profile was "Nick and Michaela" , however, we have decided to part ways in regards to business (she isn't as dedicated as I). So I've made my own account. So I'm back Jack! And ready to ROCK! Still have motivation and drive even after a deal of mine that would have profited me 11k on fell through (first wholesale deal)! But I'm a machine and can't be stopped! I sprint up hill and I get back up after the 1000th time of being knocked down. If you read my profile you will see that failure is something I do not wish to experience. 

I'm eager to network and create new connections that will help us all flourish in this business.