All Forum Posts by: Rickey Miller Jr

Quite a bit of information on this post, I was only able to read about 40 sentences in before I had to write this message out. Quickly analyzing the deal, if the seller wants 125K to 140K net to her after selling it's not going to be a Wholesale deal unfortunately. Unless your off on your ARV since your using public service like Zillow. Then I can't definitely say it's not a deal. Because maybe there are comps that are larger then what your mentioning. Also there are repair costs that are going to have to go into play on this deal. If the owner is a hoarder, that want be unfortunately a move in ready kind of deal. If you'd like to talk more about the situation feel free to message me and we can chat quickly on the phone.

Hope this information helps but for advice next time simmer the information down to about ten sentences or less. You in the future will get more responses. Because this post comes across intimidating. 

Personally I went on OnlineJobs.Ph to find someone that I employed to cold call with a dialer I have in the business. I believe when I posted the ad on that website. I had about 87 applicants and narrowed it down to the ones that followed directions. Then filtered it out with videos they had to send me and finally had about 6 interviews and chose one person. I started to pay her $4.50 an hour and since then she has a raise. Any property we get under contract she will get an additional $50 on top of her wage. Following any closing she will get $250 on top of her wage. So personally looking at the income at her age level at average. She's paid pretty well on my side. 

If you look at using a cold calling center or firm to do hiring/employment/onboarding for you then it may be a bit more closer to the $6 an hour price. There are some companies that charge "$60 for 200 Dials". But honestly I don't think that's the best option. 

If you haven't done a deal just yet to where you we're able to capitalize on an assignment fee. Then I wouldn't worry to much about systems. It's going to slow you down to be honest. Rather than focusing to much on that idea try to understand what Wholesaling is then apply it with action by talking to sellers and presenting offers. The more offers you make the closer you will get to having your first deal. Once you get your deal I'm more than happy to message you privately on systems. Since I have a full workflow created matching what your asking. Good luck!

To be honest you really don't need to pay for a course you could learn this on your own with YouTube, Podcasts or even a book. I read when I started "If you can't Wholesale after this I have nothing for you". Wholesaling is pretty simple in my opinion , it's just the sweat equity you have to put in the beginning to get your first deal. I will say if you lack guidance, determination and not resourceful. I would look into getting a mentor so your not wasting money not truly knowing what your doing. 

Personally we find distressed sellers from people that have had Bankruptcy, Divorce, Code Enforcement, Expired Listings, Eviction, Fire Damage, Pre-Foreclosure, Liens, Probate, Tax Delinquent. Honestly a whole bunch and then it's always contacted proactively with Cold Calling and Text Blasting. 

Robert if you like you can direct message me and add me as a colleague and I can send you the documents you are needing for that process. It'll be the simple TREC 1-4 Agreement, Assignment Contract I use in Texas as well as examples that I have done in the past. 

It's always great to kind of look into information on Youtube like Rolando mentioned and Jerry is a great source to start. Clear and to the point, I will answer your question and have it listed below. But be sure to look into questions yourself because nine times out of ten there are other individuals that ask the same question. You just sometimes have to be resourceful on finding answers. 

When you find an off/on market property, you want to work with directly to the seller and send them an offer. Your contract will vary state to state. I'm in Texas and we traditionally use TREC. 

Offers can be written up with this simple formula but this is not what I use just understand quite a bit of people use this offer calculator. ARV *.70 - Repairs - Assignment Fee = Max Offer. If the Seller Accepts you then enter an agreement with them.

You then have the right to sell that agreement to an end buyer and make an assignment fee. That's the most vague definition of what you asked. 

When you have a moment do some more research or read "If you can't Wholesale after this I have nothing for you". 

Personally I have seen a growing number of people getting into it also. The one thing that will ruin "Wholesaling", first off it's been around for decades but it will come slower to an end for people that do not have a License when there are unethical people in the business. That's why some laws are passed I believe in two states at the moment where Wholesaling needs the person to have a Realtor License. But for now take advantage of it and there will be a plethora of deals come the fall of the market. 

I hope it works out for you as well. It requires a lot of sweat equity in the beginning and can be tough. But personally it just depends on how much effort and time you can contribute to your Wholesaling Journey. There have been people that are able to get a property under contract within there first weeks of starting with Wholesaling and then there are people that have gone nine months to a year to achieve that same goal. For me it took about 3 months and was about $240 dollars worth of currency and hustle. Wholesaling is simple and easy anyone can do it. But it shouldn't take no more than $1,000 to a deal personally. *Market Dependent 

I actually didn't use a firm. I just personally prospected individuals myself via OnlineJobs.ph. It's a platform similar to UpWork and Fiverr but it's only for people in the Philippines and pretty much I put an application on there looking for a Cold Caller and was able to narrow down to one that would take direction and she's getting paid pretty well honestly with my business. If you go through a firm you will pay more money but ultimately it will depend on your budget.