All Forum Posts by: Stephen Dominick

I have been studying the wholesale strategy for a little while now and in my research here on BP I have definitely run into conflicting opinions. 1) Build your buyers list first- find the criteria wanted and go find the deal. 2) Find the deal first and the buyers will come. (No one will take you seriously with out the property marketing package with all the numbers and evaluations. As much info and pictures for Due Diligence. 3) Find a deal, buy it yourself and fix it for rental, then sell, in order to understand the repair cost and ARV, in order to learn before starting to work for others wholesaling. 4) Just jump in with no knowledge start mailing and offering and offending and mistaking until you either quit and make a bad name or learn the correct way. I must me missing a bunch of others. Please recommend a path. I tired of reading and thinking and analyzing. I just want to start. I will go with the most recommended path. It's as arbitrary as any other number in REI. :)

Another question I have is, once you purchase a parcel, you can do whatever is legal with it while you own it, correct? Now I'm not talking anything illegal but if you have acres with nothing but trees would you consider timbering the property.  Could be a lot of money in those trees (especially the hardwood species in the Northeast).  Would selective timbering be considered a land improvement?   

I appreciate the guidance Seth.  I recently began going over your website, and will continue to learn from it.  I do believe I am going to give it a try, I have already contacted my county tax office to begin to building my list.  I will be joining your site and will definitely be needing some help. Thanks so much.

Thanks for the information. I will be sure to check out Seths blog,  I will check in after the holidays and see how you are making out.  Good luck.

Yeah, Seth has the Pod cast that I referenced.  Very interesting. I will be in touch for sure, thanks again for time. Got to go to sleep for my day job. (for now) later. 

I guess land flipping is not as sexy as other REI, but that intrigues me all the more. The Pocono Mountains of Pa have traditionally been areas where NYC and the greater Philly area have come to vacation and hang out. I believe that market is beginning to make a comeback. I would like to lean on your advice as I start my initial marketing campaign. Thanks again for your support, and someone some where said buy land " they just are not making anymore". Thanks again for your time.

I would like the folks from BP to give their opinion on flipping land.  I skipped back to podcast 039 with Seth and had to listen to it twice to try and get my head around it.  I live in the Pocono Mountains of Pa, we have plenty of open land and have been hit exceptionally hard by the market over the years.  I am geographically located relatively close to major metropolitan areas both east and south.  Just wondering, I really like the idea of no tenants and no toilets.  Thanks in advance fro your time. 

That is fantastic success.  I really would like to connect with someone like yourself.  I also believe that It could be successful in my area of Pa.  The market has hit us pretty hard around hear.  If you don't mind me asking, do you use direct marketing and what type, Yellow letters etc. and who is your target for your mailings?  Thanks again and keep up the great work.  

Correct, I believe it could not possibly be "set it and forget it". Marketing Budget for consistently being consistent with your mailings. Being an expert assessor of ARV and always being able to offer your client 70% of ARV. As well as solving problems for seller. Seems like a lot for little reward . I'd be in it for the education alone but my Mama always said I was a hard case.

I am just wondering why nearly all the local people in my general area that considered themselves "Wholesaler's"  have not been active for a year or more (and there is a lot).  Not the right models? to much Guru influence? Seems to be a high attrition rate.  Maybe not the right path for a Newbie? Just typing out loud.