All Forum Posts by: Patrick Philip

@Chris Boyd but what about the address of the property you're wishing to purchase. Since I didn't personalize that, they might think I'm wanting to buy the house they live in, not their rental property.

I have two ideas of what might have gone wrong.

1. I forgot to personalize the postcard with the address of the home I'm looking for. I sent these to all out-of-state owners.

2. I made my own list from data from the property appraiser rather than buying from ListSource.

I think it's #1. What do you think?

@Sam Bhullar I don't need contractors to estimate every single house because I have a general idea of what things cost to repair anyway. Maybe just the first few. I'm trying to think forward to when I am getting too many calls to possibly see them myself. Perhaps I will need an employee to do this. I could pay them a commission and hire them as an independent contractor.

it's not the contract between me and the buyer, it's me and the seller

@Wayne Brooks I don't see the need to hire employees. Bird dogs aren't employees, so neither would someone who goes to a house and looks at it's condition. If I'm ever going to get big, I'm going to have to solve this problem. There are wholesalers who send out 30,000 postcards/month and we both know the owner is not checking out all those houses.

with escape clause. And after that, I do a double closing, right?

@Wayne Brooks did I say 50 employees or 50 houses?

People must not know how to read

@Stephen Anderson if I get 10 houses under contract, that's $50,000 at $5,000/house. Subtract marketing cost, I'll have at least half. Not bad for one mailer.

I had been an independent contractor as property manager working for just one company. Can you cite a statute or law?

@Stephen Anderson is there a set amount that you usually go below the MAO? $10,000 as a first offer, for example?

Would you ever sell the house retail or, heck, even buy it at 85% FMV and sell it retail. That's still $22,500 on a 150k house.

 Did you read that correctly? It said 50 properties. Plus, I could have them as independent contractors. Plus, Workman's Comp is only for construction industry.