All Forum Posts by: Patrick Sullivan

Well, good thing I posted! lol



Does this sound better guys?

Hello _____,

I drove by your property at _____ in Leominster. It has potential and the neighborhood does too. I’m interested in making you a cash offer to buy and hope you consider. If you’re about it and you're interested in making a quick pile of cash give me a call, shoot a text or send an email at the contact info provided below.

God Speed,

(Space for Signature)

Patrick Sullivan

Cell: (978) 549-0853

Email: [email protected]

Hello All,

I am just looking to see whether a few of you fellow BP members will proof read the following letter to absentee for me in its content and format:



Hello _____,

My name is Patrick Sullivan, my main occupation in life at the moment is wholesaling. Wholesaling is sort of the opposite of a real estate agent in some regards, though not necessarily in a negative way, and it does NOT require a real estate license -- it's just finding the right deals in neighborhoods with potential (NOT war zones) and filing and recording the correct forms and legal documents to execute the real estate transactions. The primary objective of a wholesaler is to work with the end buyer (usually investors) and negotiate a fair price for the owner's property "AS-IS". Although myself and my team of investor buyers will aim as low as possible in price, we consider the cost of repairs and the ARV to similar properties within the area, and it will be all cash transactions, and again, there is no need to make any repairs to the property prior to closing, that is what my investor buyers are here for - to rehab the deals I find for them. Therefore, there is no dealing with banks or brokerages.

I drove by your property at _____ in Leominster and saw potential in the house and am aware that it's a decent neighborhood, being that I've lived in Leominster my entire 23-year life, and thus am interested in making an offer with my investor buyers on your property. On that note, I would like you to take the time to consider this letter, though also realize one thing -- YOU have to be the most motivated one in this transaction or it'll most likely not work out for any of us. Should you think about it and you're interested in making quick, liquid cash on your property give me a call, text or email at the info provided below

God Speed,

(Room for Signature)

Patrick Sullivan

Cell: (978) 549-0853

Email: [email protected]

Hello All,

I am COMPLETELY new in wholesaling but am serious. That said, I have the following questions:

What should I write to absentee owners the first time? What should I write to them the second and subsequent times (should they yet to respond)

Is it better to hand write my letters (BTW - my hand writing is sub-par and I have not the funds to pay a professional writer), or will typing do the trick [for now]?

Is there anything else I should know before advancing onward?

P.S. - I have driven for dollars on properties that seem old, distressed and vacant, though do not show that they are uninhabited in the deeds and are not in my ListSource list ... all of my ListSource properties [thus far] were either inhabited or seemed inhabited, although it may be that I did my run on Saturday



Thank You,

Patrick

@Colin Smith, the only issue with Massachusetts is that we have to use attorneys instead of title companies to run the searches ...

So basically once I get the assignment of contracts signed, I just go to an attorney to review the flaws?

Hello again BP Fam,

I was wondering what I can use to find out the current address(es) and phone number(s) of said distressed property owner, should they not reside in the property itself. Is there some kind of online private investigation resource? I know it sounds like a sort of lame question, though I'm a noob

Also, is it wise to do a full title search BEFORE or AFTER my investor buyer sees the property as a "good deal"?


Thank You,

Patrick

Hello BP Fam,

I am starting out as a wholesaler, as most who have only a part-time job and very little cash reserves would

How do I identify and address any liens/judgments on a given property before going through with the deal with my partners (investor buyers) so that those issues cannot and will not pop up later?



Thank You,

Patrick S.

Hello BP Fam,

I am now serious about the wholesale business ...

I live in North Central MA (Leominster to be specific) and was wondering who is a reliable and accredited attorney, title company and/or accountant in Massachusetts real estate tax and contracts law, especially on the wholesale side (as that is my expertise) who will get me on my feet as to what I need to know and understand about how to structure creative financing and assignment of contract deals



Thank You,

Patrick S.

Thanks Ryan!

So say I am not "accredited", though end up saving $5,000, am I eligible to essentially invest in a RealtyShares portfolio? Or is this only for those more experienced investors?



Thank You,

Patrick S.

Hello BP Fam,

I have seen the name advertised on BP podcasts time and time again, though am uncertain as to what it really is. Does it have to do with REITs?

Hello All,

I'm a noob in this industry, so all I really have to share is that I have my eyes completely peeled and my ears entirely open. I have little money to my name (and I am not one to get things handed to me either). Even though I'm only 23, it's too long for me to be spinning my wheels (working multiple "jobs") the way I have until recently. Now I only have a part-time evening position at the Home Depot 4-5 nights out of the week, and this allows me to do what I need to do during the day, as well as have 2-3 full days to network as well.

I plan to get into anything that can make the deal happen from wholesaling, fix and flip, multi-family and even creative financing



I hope to hear from some of you soon!

- Patrick