All Forum Posts by: Sam Bhullar

I think, rather than spreading negativity, @John Thedford being a lender, should fund @Lena Claybon  on her project. This would accomplish 2 tasks at once. His problem of the poster being a cheat will not be true anymore since she will have access to the funds to close the deal. This makes John happy :) At the same time Lena is able to make a deal and sell off the properties individually and pay John off and make some money. Maybe they both should partner up on 50-50 split basis. Makes everyone happy at once :D  

Guys, stop bashing newbies who come here for advice. If you don't have anything good to say, then stay mum. 

Go girl... make some money! 

@Jeremy Gue

Google adwords pay per click (ppc) campaign. 

@Jeremy Gue

I have been interested in it for a while. Every time I am about to pull the trigger, there is some new CRM that I discover. I am very interested in REIPro and am still debating on Realeflow. I need to go one way or the other in the next 2 weeks.

Anyhow, direct mail is a drip campaign and you just got to keep sending post cards and hopefully some leads would be generated. From what I have read, the lead generation rate is usually around 1% and conversion rate is further 1% of that. Based on my theory, 600 postcards aren't going to generate enough leads to close a deal. You should try hitting a minimum of 2000 postcards each month. Also, try PPC if you aren't already doing it. Online conversation rate are always much better than direct mail. 

@Jeremy Gue

@Nicole Yager

Here you go: Contracts

@Jeremy Gue

How is your experience with REIPro? For how long have you been using it?

@Benjamin Barredo

I am going to keep it very simple: First, prepare a list of potential investors, unless you have money to fund the project. See what areas do those potential investors purchase properties, what kind of properties, range etc etc.

Then, look for properties in the areas your potential buyer's invest. Find a deal, run the comps from a flippers perspective, not as a wholesaler. See how you can make money from that deal as a flipper. Take a rehab guy with you on the property before signing a contract with the seller. Have a written estimate ready from the rehab professional before you offer a price to the seller. 

Now you know all the numbers and if it makes sense from an investor's perspective at the price you want to sell, then go ahead and sign a sale & purchase agreement with the seller. BP has some of them for you to look at them. Go find them and modify as per your need. Do not over complicate the sale & purchase agreement. Keep it simple.

Now have a professional presentation ready with details on the property including the rehab estimate made by the professional and present it to your investor. Now use your sales skills and show him why it would be a great investment and back it up with your numbers.

If your numbers were right, the investor will certainly jump on the deal. Always, make sure it is a great deal for your investor. Closing in 30 days should not be a problem for a serious investor. Ask for a non-refundable deposit in escrow within 24 hours of signing the purchase agreement from the investor.

To answer some general questions you asked:

1. You do not require a proof of funds from seasoned investors. That's why you make a list and talk to them to see if they would want to do business with you.

2. 30 days closing should be enough to close a deal. Have a clause of 15 days extension if the property has title issues and it takes time to close the deal, not because of you but the issues in the title.

It's not that complicated as other professionals here have outlined. Be honest, work hard and you'll be just fine. 

@William E.

I would certainly be very interested in the meetup. 

@William E.  

Welcome to BP. Even I am looking to connect with other like-minded real estate professionals to see how we can help one another. Stay in touch! 

@Jessie Lozano

Welcome to BP. As you already know, BP podcasts are a valuable resource and go through every single one them. You will learn something new from each one of them. Wish you luck with your first deal. 

@Todd C.

How did M5 work for you?