All Forum Posts by: Richard Rodriguez

I really want to thank each and everyone of you for taking the time in providing me your feedback. I have been talking it over with a few of my colleagues and going to put it to work.

@Bryan L., do you mind if I give you a ring? I respect your time as I do my own but had a few questions I'd like to discuss with you. No hard feelings if not. Thanks!

Hello,

I recently read an article that a successful rehabber/wholesaler wrote on sourcing deals from the MLS. Basically, what he was doing was selecting certain properties that fit his criteria and submitted an offer which was about 30-40% below ARV. He has been successful for years doing this and I've heard of others doing this.

However, others have forewarned me about lowballing offers on the MLS because I will create a bad reputation amongst agents. It's a small world out there and my name will get around as a "low ball" investor.

What do you all advise? Is anyone doing this? If so, please share your experience.

Thanks!

I greatly appreciate the feedback to all of you. I've been pondering about it and putting together the plan of attack on this. Thanks again.

Hello Eric,

I really appreciate your feedback. It makes sense what your saying.

I do know them and have approached one of them but I do know that they are "tight lipped". I wish I could think they would be open to helping me but let's face it, I don't think they have an interest in training competition. I could be wrong though.

Ok, so there getting deals from who though? How would you advise me to get in there position? Do you think the majority of the deals they are doing are coming from agents?

Anyone?

Hello everyone!

Though I've been perusing BP for a bit, this is my first post because I really need some help.

We all know that there are several ways to acquire properties at a discount. I have been a fan of direct mail. That said, there are two investors in my area that do not utilize direct mail whatsoever yet they are doing extremely well (about 4-8 deals per mo with spreads of 8K-20K a piece).

On top of that, I respectfully say these two investors are "old school". Meaning they are above 50 yrs old and they are not that "tech savvy" (seo, social media, savvy with direct mail) like a younger generation of investors perhaps.

So I'm need your help because I've been struggling doing deals via direct mail (which is another story I won't get into).

I really would like to know, how these investors are getting the 1) quantity and 2) consistent deal flow!

So that you may be able to help me. I do know the following:

1) They have been in the business a long time (circa 10 yrs)

2) They or there spouse is a realtor

3) When I pull up there properties they have double closed on, most of them are coming from banks (Wells Fargo, Deutsche Bank, etc.) Does this mean they are "in" with asset managers that are feeding them?

I thank you in advance because I really am tired of struggling and want to see consistent deal flow. If these guys can do, I know I can!