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All Forum Posts by: Peter Shafik

Peter Shafik has started 14 posts and replied 65 times.

Originally posted by @Justin Abdilla:

@Peter Shafik You probably can’t incentivize lawyers because our goals are at odds with yours as a wholesaler. Lawyers want to get the highest and best to maximize value and minimize liability and you want to get the best profits you can.

If you’re not a professional realtor or attorney, in many jurisdictions you can solicit the heirs and legatees directly. That’s probably your best bet, avoiding a direct conversation with a lawyer about the issue and just motivating the client. Think of it like advertising prescription drugs, if you’re selling something that’s an awkward ask, it’s best to advertise direct to consumer rather than targeting the doctors.

 That's really good to know. Thank you! In the event I can't find the client's number using skiptracer, I guess my only option would be to contact the lawyer. It may not be ideal, but it would be the only way I could reach my client without using a very expensive skip tracer. Thanks!

Hey, Guys! Any input would be helpful. I'm currently calling a list of leads for probate. A few people have mentioned that they've already received like 5 other calls from others trying to buy the property, so I'm trying to find a way to stand out from the crowd and convince them to sell to me. When they first answer the call and I confirm it is the petitioner and in a nutshell I say, "Hi, my name is Pete, and I'm a real estate investor. My partner and I were looking through the internet and, unfortunately, we saw that you filed for probate. You have my deepest condolences. What we typically do for people in your situation is help them by taking the property of their hands and give them immediate cash in the bank to use for whatever you like (I sometimes give examples like dream vacation, new car, etc..)" Then I ask them what their plans are for the property.

I'm a sales based guy (work at AT&T) so I have some experience there. I mainly need to do hundreds if not thousands of calls to really get used to it and find way to negotiate better, but any advice would be helpful! 


I also would like to know how I can incentivize lawyers to push for my "very generous offer". Sometimes I can't get a hold of the petitioner and so the lawyers is the only other person I can use to reach them. Let me know what you guys think! Thanks in advance!

You would go to college to network with high-income individuals (professors if you'd consider them as such) and use them as references to your character if you ever need it (it would definitely come in handy). However, you can get references from your boss at work. If you don't like anything besides REI, I would recommend against it. After working my tail off as Pre-med for 3 years, I discovered I wanted to do REI and the last year was DREADFUL because I couldn't focus on anything but tests for which I have no use of in order to graduate and FINALLY start really learning real estate. What I'm doing rn is working a full time job while learning wholesaling in order to raise that capital. But if you want to be an Agent, go for it!

Originally posted by @Trevor Plante:

Hi Rafaella, 

Being your first flip however, I suggest you present the deal to several hard money lenders. Pricing shopping is the obvious benefit, but perhaps more important is to have your deal underwritten by several lenders. If the deal can be scrutinized and approved by a few lenders you're likely in a solid position. Yes, hard money costs will eat into your profits, but it's a way to mitigate some risk on your first deal. Just ask about each lenders borrower profitability standards. Also, most hard money lenders won't finance 100% of your first deal, so perhaps the HELOC can be used for down payment.

I wish someone told me all this in the beginning! This might be a dumb question, but I'm assuming HMLs only invest in markets they know numbers for very well? In that case, I could theoretically get confirmation that my deal is, in fact, a deal and be less hesitant by analysis paralysis. This is gold. Thanks!

@John Bell you’ve made it farther than most people would have. Congrats man!!

@Anthony Gayden love that plan. Each person needs to do what they’re most comfortable with. I think, however; mouse people aren’t very clear in their end goal to decide what to do with their money. Maybe, maybe not.

That’s amazing! I really like the idea of interviewing past roommates! That’s genius!!!

Aside from providing value to the mentors in return for their expertise, One option (not the only one) is to find a trusted expert and simply pay to have them "look over your shoulder" when analyzing comps, running numbers in general, and even getting a team together. It is important, however, to focus on self-education. It's where we all start. But you're a smart guy so you already knew that. Best of luck ^_^

Post: Being Discouraged by Family

Peter ShafikPosted
  • Posts 65
  • Votes 25

depending on the situation, of course, I would wake up early when no one else is awake and just get to work. Eventually the fruits of your labor will show because most people believe after they see. We believe and then see. 

Post: Realtors not responding

Peter ShafikPosted
  • Posts 65
  • Votes 25

@Suny Capezzuto There's many possibilities. One I don't hear often enough is they don't take you too seriously. If you're not already, be assertive and confident in your speech (practice, affirmations, etc...). This will help in all areas of life. Other than that, most are lazy.

As you know, agents have to pay to be listed next to a property on a website (they pay for something specific... Idk). Those who are paying to be listed next to the listing are typically more serious than most agents. Hope this helps!