All Forum Posts by: Junior Salters

Looking for cash buyers in Charlotte! Helping out a fellow wholesaler there!

3 Properties ALL currently rented out!

ALL MOSTLY RENOVATED 5K OR LESS ON EACH PROPERTY AND PRICES ARE NEGOTIABLE. CONTACT ME or Jason VIA PHONE/PM.

http://charlottehandymanhouses.com/deals/index.html

1- Home is a 2 bed / 1 bath, single family ranch with central air. All brick structure. North of Uptown, outside of I-85. Near Fred Alexander Park. Home is currently rented for $750/mo- asking 39 OBO

2- Duplex- Each unit has 2 bed / 1 bath. Dwelling was completely renovated last year. Central air in both units. All brick structure. Both sides currently rented at $500/mo each. Near LC Coleman Neighborhood Park. NOTE: Rents can be $550 per month when a washer and dryer is included in the rental.-asking 44k OBO

3- Home is 2 BED/ 1 BATH single family ranch with central air. All brick structure on a quarter acre lot. Located in northwest Charlotte, outside I-85. Home is currently rented for $725/mo.- asking 43K OBO

Don't miss out on these!

@Belinda D. @Tim G. Thanks!

@Rachel Leonard Luckily (luck being the key word somewhat) I only sent out one letter to this seller being my first one and in my first mialing I actually only did about 25 letters but they were all vacants that I had picked up and had gotten a decent response (I believe about five people returned calls). I was very fortunate to get a deal in my first small mailing and understand this is the exception not the rule because I have done mailings since and gotten less response.

@Ceasar Blackman Yea he really helped with analyzing the properties moreso while I handled all marketing and got all the buyers. I actually met him through a local REI breakfast ever Wednesday at Denny's. lol

@David Ramos For me and my personality, I like going the letter route. I know D2D works, but I only want to talk to people who reach out whether thats FSBO, website or calls me back through DM.

@Account Closed Thank you!

Thanks guys!

And sure no problem @David Ramos . As I'm sure you've heard wholesaling isn't easy, but it is simple. I started out just driving for dollars in neighborhoods that I saw were family oriented and had some houses for sale and did some added research to see that theses houses weren't just for sale, but were being purchased too. I stumbled upon the first house which seemed in fair condition minus the signs of vacancy (overgrown grass, very unkept around the sides). I took list of a few houses and sent out a direct mail marketing piece by going onto my county's tax assesor site and finding the owner. I did this back in June and got a response back from the seller's personal assistant saying that the owner was interested, but also wanted me to look at two other homes he owned in my county!!! I partnered with a more experienced local wholesaler to help me estimate the repairs and ARVs and so I saw we had something here.

I went by and looked at them, saw that they were in poor but good enough shape. The biggest thing was I knew this guy was motivated so I low balled him on the first offer for all three around 24K- being 5, 5 and 14. the house I originall wrote about was a 3/1 while the other two were 2/1s. He agreed, and I got all three under contract and went to work marketing. I did some craiglists, my REIA group and I also looked up houses in the area, owned by investors and LLCs and wrote direct mail pieces to them explaining that I had houses for purchase if they were looking to add to their portfolios. Interestingly, one of my buyers came from our local REIA group, another from craigslist and the last one came from my mailing lists!!

After that I used an investor referred closing attorney for the first two and a different one for the third just to compare businesses and the rest is the present!

Finally!! Last Thursday I closed on my first official wholesale deal!!! It's been a long time coming and honestly wasn't too bad of an experience so I've been blessed so far! I have two more properties set to close (one at the table, waiting on buyer to sign) and another closing this Friday. I'm hoping this is the start of a good thing that will help supplement my income and generate more savings to purchase my first rental property in Spring of 2014! Thank you to all the BPers (countless many) who have helped me reach this point!! @Cameron P. was a great help and was truyl an inspiration to me along with @Sharon Vornholt and @Jerry Puckett . Thank you to all those who also commented on my posts and gave me great insight!

I AM NOT ADVERTISING THIS IN ANY FORM!!!

Now that I stated that, I have a fellow investor I met at a local investor's breakfast contact me about selling a purchase package deal of 45 houses (35 rented but all a block from USC). My main question I guess would be what ways would I go about advertising something of this magnitude, so far I've only dealt with 3 SFR (low experience I know)...he wanted my help because he saw how I quickly got the other three off my hands and I want to help but I don't want to "fail" him, but it would be a pretty big payday I suppose. What information would I need to advertise to end buyers with something of that magnitude?

Welcome to the group Michael even though you've been apart for awhile! Everything you eed to succeed is here! Happy investing!

@Deadrick Colbert

Yea I had someone tell me that they were pretty good. Did you use them or know of anyone who has?

@Paul Sorgi

Congrats Barry! i know how free you must feel to have that first one under your belt!! I wish you continued succcess!

Can you seller walk away from the closing table even though you have a signed contract?