All Forum Posts by: Rob Rice

Hey Zac, Welcome to BP. 

You can do it, however I suggest you get your feet wet by doing a few deals in your market so you can actually participate in the process first. After that, do some virtual deals in your market. I do wholesale properties virtually in markets that I have never even step foot in. My process is contacting people in the area who are doing deals currently. Once you identify what market you want, (look around in BP to get ideas for market selection in the wholesaling business. Everyone does it different.) Simply go to craigslist and contact the guys who have wholesale deals in that city. Talk to them, and let them know that your going to be doing some deals, and ask them to help you evaluate and sell your deals that you lock up. Do your own do diligence also. Look at deals that other guys are trying to wholesale. Look at there numbers, try to evaluate in the same way for that same market, and ask questions. Talk to agents, members of that local REIA, and people who are actually in that market. Don't try to look like a bigshot. Trust me. Guys that do deals will tell you. We know newbies. I can't stand the person who plays as if they know so much and then turn out to be time wasters. Before I do business with another wholesaler to do a virtual deal, I'll ask them about some of there deals. Most of the time if an investor doesn't want to share some of his deal information, then he is either not a good partner or just not doing deals anyway.

There are a few virtual courses that I used when I got started, and I would be glad to share some info with you. 

Good luck, and connect if you want.  I'm an open book, and a true wholesaler.

Rob.

Way to plug the Tic, Tac, Toe of the signature Brian..

Very cool...

Also I love the content on that page.  Very well presented, and explained.

I will send some newbies your way.  I think they could really benefit from your information.

Hey lets all blame BRIAN...LOL...

He started the thread, made the most connections, and I'm sure he got some hits for the Tic, Tac, Toe Info on his page that is linked to his signature.....I'm not mad at all...

Way to go BRIAN.....

You are my hero...

Well said Rod.  Like I mentioned before........

I love good marketing campaigns..

Someone made out like a fat rat from this thread...

I can't be mad at them...It was an awesome topic to feed the frenzy.

Those who understand the business know its just show...

LOL...................Feed the frenzy!!!!!!!!!!!!

I love it.

I tell you what....

I love good marketing campaigns.......

This is one of the best places to get entertainment, education, and express yourself.....

I love BP.

Great thread guys...

Hey Cassie,  I want to first say congratulations for getting started.  I'm not in the San Antonio area however, numbers don't lie.  You said the house is worth between 130K-140K.  You also said that you would be getting about 4.8% ACCORDING TO THE BROKER...BIG WORD...BROKER.

You said that the offer price is 117K.  You said that its 25% down.

That means that your willing to pay $29,250 upfront for a 4.8% return, along with the $1000 dollars in repairs.

I don't know if you have done this or not, but please talk someone who does these type of deals in your area. Go to a REIA, and download some of the information on BP. It has tons of tools and resources. The fact that you are even considering this makes me think that your money would be better spent getting a mentor, or purchasing some good education about buying homes as rentals for a good return. Talk to some people who do these type of deals and partner with them, either as a money partner, or in exchange for footwork. $29K is a lot of money to spend on a deal that you are not sure about. It should be a no brainer, that way you won't have to worry about it not working out.

Thanks for the tip about the San Antonio market.  I will do a mailing there to find good deals to wholesale. 

Best of luck. 

Rob.

Wow!!!!

I need to move to MN.  Every person in this thread who has never gotten a deal from a wholesaler, Call me, tell me what area you want to buy in, what your buying criteria is, and I will find you a deal.  I will show you why its a deal, with real comps, I will show you how I do repair estimates, I'll let you know what marketing I did to find the deal, I will show you what I expect to make from you when you buy for cash, etc.  I'm a real wholesaler.  I don't go find deals online and blast them out to the world.  I personally get these under contract as a principal, and assign most of them.  I work for the fast Nickel, rather than waiting for the slow Quarter.  Every real wholesaler who does the business should give you the same information.  It is your responsibility as an investor to 5 minutes and talk to any person who brings you a deal and find out if they really know what they are doing.  Through the years I used to ride my high horse and tell wholesalers, to just give me the address and let me know how to see the house.....Now, any person who Im going to possibly do business with......(especially other investors) needs to take 5 minutes or so to tell me about there investing experience.  I then will tell them my experience.  This will tell you if you are dealing with a newbie or not, and what kind of person they are.  With that said.....If you want to see how a real wholesaler works and want a deal in a certain area, I will get one for you, or tell you how to find one depending on your buying criteria.  I invite you to make contact with me.

Rob

6786825937

LOL...Thanks Marvin.  I shoulda been a little more detailed.  I have done many sandwich lease option deals where I collect non refundable tenant buyer deposits for lease to own deals.  I just never used an attorney since there isn't a need as you explained.  I'm just looking to be hands off for deals where I collect 5 figures or more and It goes toward the purchase price.  I think its worth a few hundred dollars to have them do it for me.  I just was hoping someone in BP knew of one in the Atlanta area.  I was being lazy.

Thanks..Lol...

I have a lease option deal.  I usually do table top closings.  I want to close this one with an attorney who does sandwich lease deals.

Does anyone have some in the Atlanta area that they recommend.

Skype, or google number is fine.