All Forum Posts by: Sandra N.

An elderly lady I know filed an eviction concerning a commercial bldg. she owns. A barber shop to be specific. Landlord and tenant went to court. Got the judgment and tenant was ordered to vacate the premises last Thursday. The tenant is still there and the elderly lady's son wants her to change the locks and not file a Writ of Possession. The son thinks his mother has the right to retain everything in the barbershop since the tenant owes his mother over $6k in back rent. Is her son advising her to do something illegal even though the elderly lady got the judgment in eviction court? If she decides to change the locks, would she need to post a notice on the window? Just wondering.

Finding wholesalers with quality deals is rare but not impossible. You will weed through several before you find true gems.

The norm for wholesale deals in the Dallas market is $.72 - $.75 on the dollar. These deals still cash flow. Not sure if they will in your market.

Here are a few methods to find wholesalers:

1. We Buy Houses bandit signs.

2. Newspaper ads (especially Thrifty Nickel-type newspaper)

3. Craigslist (mucho wholesalers in the Dallas CL)

4. Real Estate Investor meetings and Real Estate Meet Up groups

5. Do a Google and Dogpile.com search for We Buy Houses (name of your city)

6. BiggerPockets

I know a landlord that found 4 good wholesalers. He took them out to lunch and he will follow up with them at least 2X-3X a month.

Hope this helps!

Hello Rashida. Welcome to BP!

I suggest finding 2-3 investor-friendly agents + 3-4 wholesalers in your area. I've found investor agents on Facebook groups and LinkedIn and I know they're on BP.

Keeping in touch with wholesalers is another great source for deals. As the saying goes, "Out of sight. Out of mind." is so true in this business and especially with wholesalers.

All the best to you.

Marketing is paramount in any business.

It is absolutely critical in wholesaling.

We've done very well generating leads through direct mail and networking. However, over the years, I've met investors that only generate leads online. It's an entirely different marketing niche.

I did some research. Digital marketing companies are charging between $2K - $5K a month. Is that the norm?

I don't mind spending that if we will generate mucho leads. We are pretty good at converting leads into deals. Can I do it myself or hire someone to do at a much cheaper price and still get really great results? Where would I start?

Thanks in advance.

Hi Paula,

Welcome to the wonderful world of wholesaling. 
I've been in this business for 17 years. Wholesaling is the core of our operation. 

My advice:
1. Set aside money for a marketing budget. I suggest 3-6 months to start.
2. Develop a plan and stay consistent
3. Build your buyers list by networking a minimum of 2X a week. 

Feel free to contact me if you have further questions.

All the best!

We are scheduled to close on house in less than 2 weeks. There was storm last night and the roof is leaking. Would filing a claim after we close be more advantageous than getting a discounted price?

Hello Tyler,

My primary niche is wholesaling. I also buy and rehab a handful of rentals. 

I know quit a few rehabbers. However, there are 2-3 rehabbers I can recommend who have the heart of a teacher and can give very valuable advise.

Sandra

www.reddtrowproperties.com

Hello everyone.

 I am friendly with an associate whose been a Realtor for over 30 years. 

She really wants to take the plunge and start wholesaling. I see her at investor meetings every week but she is on the fence because she is afraid to wholesale as a Realtor.

As a licensed professional, she is held at a higher regard. 

How can she protect herself and her license if something goes wrong in a wholesale transaction?

Realtor/Wholesalers, how do you make it work?