All Forum Posts by: Jesse Andrews

From personal experience here in Rhode Island, pay for a septic inspection! We closed on a property (had an inspection, but did not pay for a separate septic inspection)- and turns out the current septic was never permitted and totally illegal. Disclosures stated it was a septic (it was), but made no mention of specifics. Was a $9k learning experience! I'll never close on a property with a septic without an inspection ever again. Good luck!

Hey Scott Graham - I've been direct mailing for a while now, and it seems as if nothing worthwhile is free. I mean, depending on your county, you might be able to scrape probates or evictions from a website, but (in my opinion), every wholesaler is targeting the easy and free lists. You might get a deal from it, who knows. I think there is a lot of value in networking with probate attorneys, make a friend at City Hall, etc. I like driving for dollars – it only costs you gas money and you can really get a good idea of vacant properties. If the letters come back on deliverable, even better! Find the owner and it's even hotter lead. There are a few really great companies that offer lists, but they all cost money. What is your ultimate end goal? Are you looking to become a full-time wholesaler? If so, start small and create momentum so that leads will flow through every month. If you were looking to rehab, it might be worth your while just to reach out to other wholesalers instead of wasting time on marketing for months to get one deal. Creating a constant lead funnel requires diligence, patience, and perseverance..... And money! Feel free to reach out – call or email me. I'm marketing in Massachusetts and can give you some pointers. Good luck

Lisa Sullivan welcome to BP. Awesome story!! Hope to catch up at the RIREIG.

Hey Christopher Stobbart I'd like to talk with you about the franklin property. Feel free to call me sometime to discuss.

Agree totally with Nick Colamarino An agents job is to completely represent their seller. They are listing the house, showing the house, arranging open houses to get the absolute top dollar for that property. As a wholesaler, you want that property significantly reduced. There is a reason why most wholesalers stay away from the MLS. There just really isn't much of a deal to be had on the MLS as far as a wholesaler is concerned (usually.... I guess there's always going to be an exception). In my experience, anything that is a smoking deal is gone before it even hits the MLS. If a property is listed and you bring a proven buyer to the realtor- that's different. I recommend sticking with unlisted off market properties. Good luck

If you search on YouTube "how to mail merge in Microsoft word" you find a few thousand tutorials.

Jim Kent When I first started out, I manually did everything as well. It stinks!!!! It's time consuming, and I felt like a kid in elementary school with a cramped hand. If I have a small list (200 letters or so for my really targeted niche list), I'll still DIY it. Mail merge in word for the letters and envelope. I go with a professional letter vs yellow letter. I hand sign each letter and pay someone to fold, stuff and stamp. Costs around $.60 per letter plus what I pay the stuffer. With bigger lists, go with the experts. I just used Justin's company and they were awesome. These companies can get it all done fast, and if you ask me, cheaper than what I can do if I factor my time into the equation. Either way, just do it. Don't wait till it's perfect. Just send letters. You're better sending a letter on a napkin than not sending anything at all!

Very well put Jay Hinrichs . I feel that so many new investors are lured into seminars and online training courses and told that wholesaling is easy, cheap, and "the best way to enter real estate investing". Sure, you may get lucky and make a huge profit with little effort, but that seems to be very few and even farther in between. You need resources. Mail costs money. Facebook ads cost money. PPC costs money. Lawyers, CPA's- all cost money. In my opinion, a wholesaler is a small business owner. Treat it that way. Be organized, licensed, and operate with integrity. Legalities aside- in wholesaling you are bringing 2 parties together..... hey! that's what they told me when I was in pre-licensing class to get my agents license. I personally feel that however you try to justify it, wholesaling is brokering. Unless you're closing, taking title and THEN finding a buyer, it all seems a little too murky for me. I'm sure some people might disagree. Just my $.02. I'm Not saying that I haven't wholesaled without a license- I have. I just feel more comfortable now that I am licensed.

Hi James- Up here in Rhode Island I was recently quoted 5.75%, 75% LTV and 20 year amortization for a cash out refi on a multi family held by my LLC. This was a small local bank in RI. Good luck

Hey Shawn- I'm in Rhode Island and have seen a lot of investors buying higher than maybe a year ago. For example, most rehabbers were looking for ARVx70% minus repairs. Lately (especially closer to Boston and some select areas in RI), buyers are buying higher than that 70%. And I agree with some of the other comments- you need to find a good wholesaler or market directly to sellers to truly find a good deal. Not saying MLS isn't going to produce a good deal, but I feel it's far less likely. My $.02. If you PM me with your contact info, I'll add you to my buyers list. Good luck!