All Forum Posts by: Rickey Miller Jr

@Edward Emerson If you connect with me and inbox me I can attach to you all the contracts you will need for Texas on your wholesaling journey as well as retyped examples so you know how to fill them out. Only thing I ask for is a upvote on this post!

@Chris Gavre To answer your question yes and no, if you take at least 50 photos of the inside and outside of the property compiled. The investor and quite frankly anyone can truly see what their purchasing. Now their is something called the due diligence period where an investor/end buyer has time to walk through the property. Honestly a lot of times we just schedule an inspection period once we match our contract to an end buyer.

If I’m wanting to schedule an inspection period with the seller I’ll then just give her a call and set an arrangement and mention some of my contractors and lenders are going to walk the property. That’s called your due diligence period.

At the end of the day Chris, if you have built trust with the homeowner they’ll honestly give you permission for anything if you establish trust and the way you do that is run your numbers well to see what properties are selling for in the area and then give an appropriate price based off repairs needed and market value and then if you can come to an agreement you’re golden!

I will say this, if I had to start all over knowing what I know now. You can take away all the tools, if you just have persistent action and time block your schedule to focus on learning and and then action you’ll do great. But you can’t always just keep learning, studying, reading, watching videos. One point or another you have to do the course you are trying to be on, so just don’t be scared to fail.

Sure, so to answer your question just remember when you have buyers and you ask what their buying criteria and you get the property under contract you then can assign that contract for a price. You yourself are never purchasing that property, your just assigning it to an end buyer. 

1.) *Verbatim "Hey we’re going to put this property under contract to purchase we have interest in the property. We’re going to send one of our guys to go take pictures. After we go take pictures we’re going to send it to our contractors and then we’re going have of our contractors walk through the property". That's pretty much are script once we have a solid confirmation the seller wants to sell. 

*Verbatim "The price we leave today on paper via docusign or in person is the price your going to walk away with, we're either going to save it for our portfolio, look into remodeling the property, if those two options end up not working we're going to send it some of my investor pals and will allow it to still close. At the end of it what we discuss on paper is what you will receive". (Smile)

2.) Buying leads just means your buying lists that have some motivation to it. Having it be either absentee owners, vacant houses, tax lien lists, landlords that have owned the property for some time, Driving for Dollars (Distressed properties), high equity. There are many, many lists. You simply choose one based off your own research and then you skip trace that list and it will pop out phone numbers and then you can cold call them are do a certain campaign you want to try out. (I've purchased lists from Listsource, as well as HOA Vacant)

Hopefully this information helps!

Yes there are still buyers buying, yes many buyers are still working with wholesalers, and I would look into joining a Facebook group there are alot of groups that specialize in Wholesaling Rodney especially in South Carolina. Possibly join a group and search on the right side in the group if you are on a computer "South Carolina". That will tag any posts regarding that key word, and you will more than likely find cash buyers either in the comment section or people posting deals you can reach out to them if they have a buyers list and they more than likely will share about minimum 50 with you. You then just can email or cold call them, and establish a relationship ask what their buying criteria is at the moment. Hopefully that helps but in any market you can Wholesale, you just need to adjust your numbers that's truly it!

I'm not familiar with that market. If you don't get any responses in BP from your question I'd look into reaching out to local Title Companies/Attorneys in that area. They are the ones that process majority if all sales in Real Estate. So I'm sure they can help. Just give them a call and let them know "your new to Real Estate" and I'm sure someone will help. Also look into joining local Facebook groups and see if someone is in that market that's done a deal and maybe they can send you contracts. Hopefully that helps!

Great question Brandon! So personally I'll tell you how I have things going, but it just depends on what you want to hear from a take-way stand point. 

1.) I have drivers, plus myself and we aim to get 25 properties a day per person. The goal is to get minimum 200 properties a week. 

2.) Then I have cold callers and there calling and connecting on average about 50 calls a day meaning live calls. Right now we have over 8,000 leads in our Call Tools account and when it starts going low I'll buy more. We have good data when I say that I'm referring to my skiptracing. Do not go cheap on your data! 

3.) Consistently I am talking to realtors, brokers, flippers, cash buyers to see if their buying during this suppose market shift. 

4.) When a Lead is submitted it's sent to Podio, which is a free program based on the amount of users we have and it allows me to track the leads and make sure there dispositioned right and qualified before an appointment is set. 

5.) If the client can entertain our offer based on our calculator. Then we move forward and get them under contract with a 8 - 15 day option period and bring the contract to Title. 

6.) We then match a cash buyer and shoot it out to our buyers list and when we have a buyer we bring it to closing. 

I'm thinking you understand the system, so what I'd recommend is for you to time-block knowing how much "free" time you have in the day. During that free time set a goal that "I'm going to go out and drive for dollars for an hour". Have a pen and paper and write down addresses that look distressed. Then skip trace them, and move forward. If you want to be consistent try to always stay busy but know when to not outwork yourself either. Hopefully this helps, let me know if you have any questions!

It depends on your budget Alejandro, if your budget is let's say $500 I'd think you'd want to figure which city you'd want to invest in and also make sure your area isn't feasible either. But let's say you are asking which software. Not knowing your budget look into researching for free on Google to see which areas investors are buying. Once you find a State, narrow it down to a City. Then maybe look on the outskirts of that city so your not flooded with a bunch of competition. Having this be your first time. I'd recommend Texas, Arizona, and Ohio. Those states are pretty well. 

Look into building a relationship with Cash Buyers and just asking them what their buying criteria is, then you can go from there by buying a list from listsource and get comfortable with cold calling and having tonality. Having you not being from a certain area you just want to sound genuine and act as if you know the area. Once you have your list skiptrace the leads, and I do not recommend going cheap on your data for skiptracing. Cheap data equals poor contact rates. Role play, role play, role play! Get really proficient with your voice and please express tonality. 

Once you get a motivated seller run the 70 percent rule, if your not sure what that is it's (ARV *.70 - Repair - Assignment Fee). Later call the client back after you've done some research in the market and give them a Cash Offer. If they say no it's totally okay. It's a numbers game but you can for sure make money if you are consistent at finding discounted properties and getting great on the phone.

My first two deals I had an out of pocket of $35.63 and hustled and was able to get a check of $1,563. Not a bunch of money but I reinvested my profit and was able to keep getting deals! Let me know if you have any questions just trying to make it easier before I just go out and list all the softwares you in-actuality don't need right now. Good luck Alejandro!

Thank you Bryan, I'm hoping to conquer this next down hill slope when we have it. I've heard a few people mention it's not really time yet to where we're in a recession judging off of the current RE market. Thank you for the kind words and will try to take advantage of this next one too!

Thank you Evan, I kind of figured the answer, I'm only 25 and saw how many people will see if it has good numbers then it really won't matter for a buy and hold investor.  

Thank you Arin, I'm thinking for sure it's still going to be smart to look into the C class neighborhoods and have that question to keep in mind when investing. I know what areas your mentioning in the D areas here in Killeen!