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All Forum Posts by: Rob Grove

Rob Grove has started 32 posts and replied 65 times.

Post: What is the hardest part of wholesaling?

Rob GrovePosted
  • Coon Rapids, MN
  • Posts 67
  • Votes 23
Originally posted by @Curt Davis:

From the wholesalers in my market, I have noticed among them the hardest part is spending the money for things like direct mail campaigns and bandit signs.   There is no shortage of buyers in my market buy for the new wholesaler, spending the money is the hardest part for them. 

I can attest to that. I've been scouring the Internet and driving for $ for the last three weeks and I've had a few leads come from it   but I literally just broke down 10 min ago and bought a list. Now I gotta buy stamps, post cards or envelopes which will put me in it for almost a grand, knowing i still have to do 4-5+ more mailings after I do this first one.... But if it works for others, it's gotta work for me....right? 

Post: Opinions on ListSource?

Rob GrovePosted
  • Coon Rapids, MN
  • Posts 67
  • Votes 23
Originally posted by @Daniel Raposo:

Ditto to the above responses. One tip I'll give you about Listsource though is that if you call them and "set up an account" which really means just giving them your name and contact info over the phone that you would normally have to give online anyway, you can get a huuuuuuge discount on the list price.

Wish I would have known that 10 minutes ago.... Maybe I'll call them to see if they can give me more names 

Post: Cash/Credit Score Needed to Start

Rob GrovePosted
  • Coon Rapids, MN
  • Posts 67
  • Votes 23
Originally posted by @Chelsea Huebner:

Hi All,

I am trying to get my self set up to be able to start investing.

Do you have a general rule of how much cash to have in savings or what your credit score should be above before starting out? 

Also, I have not yet read a lot on the private lenders. How do you go about finding one in your area when you are ready?

Thanks in advance for the advice!

Talk to a broker(s) to see what there requirements are. I'd look into buying a duplex to start for a variety of reasons. The renter will pay most or all of your mortgage allowing you to save more money for your next investment plus it will give you experience being a landlord. 

If you do this, I wouldn't say you own the place, just that you live there and take care of it. This way they won't bother you over every little thing.  Or maybe it's better that they bother you... Idk just some advice I heard at some point. I don't have any actual experience in owner occupancy. 

Good luck. 

Post: Should I get my Real Estate Liscense

Rob GrovePosted
  • Coon Rapids, MN
  • Posts 67
  • Votes 23

@Anthony Buxengard for right now, I chose not too.  Mainly because I want to focus my energy and resources on wholesaling. When time and $ permits, I'll get it. Everyone's situation is different though.  

Post: What to do with $300

Rob GrovePosted
  • Coon Rapids, MN
  • Posts 67
  • Votes 23
Originally posted by @Adrien C.:

To answer your question, I'll  ask you a question: what's your end goal? 

If it's to find a property- I'd drive around and find a bunch of ugly or vacant houses and use the $300 for letters and postage.  That's 400 letters you can send out which is more than enough to get 2-3 deals. Obviously you need to know what you're doing which I'm not addressing here. But that's a very good option to find houses w so little a budget. 

This is where I'm starting. I hope my perseverance pays off.... 

Post: Vacant homes, no internet info, what next?

Rob GrovePosted
  • Coon Rapids, MN
  • Posts 67
  • Votes 23

I went driving for dollars, for the first time, in my farm area and surprisingly I found about 6 houses with notices on the door. One came up a for foreclosure, 3 have no data available with some quick web searches and like an idiot, I didn't make notes on which ones were vacant and which ones were in poor condition, so I'll figure what others were vacant later with google maps. 

Few questions:

1.) How do I find out who owns the home, their phone # and address for the vacant properties? 

2.) One house has been boarded up for atleast a year and a couple had notices for grass being to long back in July and one had no notice but a note saying a mgmt company was notified it was vacant and locked it up. Is this a good sign that the person owns the property out right?

3.) any tips and tricks to make a deal happen?

4.) being from Minnesota and winter time, any tips and tricks on what to look for when driving for dollars in the winter. A lot of people have wood siding and sometimes it's hard to tell if they just don't like to paint or if it's just not cared for. Obviously I used my best judgment but do you look for old windows or no updates? 

5.) any other advice is welcome! 

I had fun today driving around and writing down addresses of what looked like a potential lead. Man their are some ugly houses out there!! Thanks again BP for helping me as I take this journey one step at a time. 

Post: Everyone shutting me down?

Rob GrovePosted
  • Coon Rapids, MN
  • Posts 67
  • Votes 23

@Camron Cottam you just gotta start doing regardless of what people think or say. Make changes in your life to make what you want to happen, happen. Go to meet ups, talk to like minded people. I have a lot of people thinking I'm crazy, but this year I've done what I just told you and I feel more focused because of it. But it's taken me a decade plus to get this far....

No one looks out for #1 except for #1! 

Post: Wholesaling foreclosures in Minnesota?

Rob GrovePosted
  • Coon Rapids, MN
  • Posts 67
  • Votes 23
Originally posted by @Account Closed:

If by foreclosures, you mean REO's, you can but you must do an A to B to C close or even be more creative than that. Banks won't let you assign, and many have deed restrictions today.

If by foreclosure you mean short sale, then the same caveat applies except worse.  You have to get the short sale approved.  Good luck with that!

What is a A to B to C closing? 

Post: Wholesaling foreclosures in Minnesota?

Rob GrovePosted
  • Coon Rapids, MN
  • Posts 67
  • Votes 23

@Tim Campbell I suppose I would need a written disclosure to provide the agent and bank  . Do I submit this with the offer? Should I say anything to the realitor when I'm looking at the property? 

Post: Wholesaling foreclosures in Minnesota?

Rob GrovePosted
  • Coon Rapids, MN
  • Posts 67
  • Votes 23

Can you wholesale foreclosures? I haven't done any wholesaling yet but I'm ready to start making offers if I can make them on foreclosures (almost ready, missing some key things like a contract.. That will be another post) 

I've read, it's complicated and could face litigation... Please let me know. Thank you!!!!