All Forum Posts by: Ray Danishyar

Double close would be if any way I didn’t trust anything that was happening but why pay twice right?

@Joe Stout whoever your lender is yes if you are buying the property but not if you are wholesaling. With wholesaling you would put ernest money down.

Are you guys wholesaling or sourcing these properties for yourself?

Yes you definitely need an approval for financing letter. No ones going to commitment lending money without a vetting process. But as a wholesaler what would you need financing for? 

That's just the telemarketing business in general. It's usually 10 percent pick up rate. The more important question is from the people they speak to how many turn into potential leads. That's the more effective approach. You can't change people picking up or not it's out of your hands. But when they are on the line you can make a difference depending what the VA is saying.

Depends - your first task is how to find distressed homeowners. Have you thought about that yet? And yes virtually wholesaling had gotten much easier based on technology over the years! That’s exciting that you are diving into this. 

I live in New York and finding distressed homeowners isn’t that hard though, they been in their homes for a long period of time, usually have low mortgage balances or non, are retiring and moving to Florida and usually the flips here are higher dollar amounts and when you sell it’s a market that prices don’t fluctuate up and down much giving it consistency. Texas for example has so much land and choices people have options not to mention when you do flip it’s a small margin hence all the new construction instead. My opinion though.

Usually I use DocuSign. 

Hey Daniel - nice job nose/diving in lol nothing is better. Those questions are technical questions and you can find a lot of info on YouTube. Have you thought about how you will find distressed homeowners? That tends to be the hardest part of any wholesaling situation. 

Well it depends - what level are you at. It’s hard to mentor if you are really green. Books and blogs would be a good place to start before mentorship. How far along are you in your journey?