All Forum Posts by: Sean Kremer

You go from stressed out trying to make money, then you go to stressed out trying not to lose your money..ha ha

When my insurance guy asks about the year of a roof or something that I don't know I tell him "I think it was built around xxxx." That usuall works well enough for him and lets him fill in a number on the space on his form. Have not had a problem yet doing it this way. Just be a little vague but get as close as you can. If you can't easily find the age of things, everyone else that looks will have to come to the same conclusions.

Life's too short, work hard, play harder, and try to have few regrets. Man I love a good toy, you know something shiny to avert my attention from reality. Just make sure you can easily afford it, if not you wait till you can. The chase is better than the kill anyway.

Sean

While I may not agree totally with starting out this way, I feel that this can be done if you get away from the big banks and get to know your small home town bankers. I know these are few and far between, but around here we still have banks where you can find the owner of the bank in his office most of the time. No need to go to commitee, just build a long term relationship with them and cut though all the fluff.

Maybe I'm just very lucky but, I've formed a great friendship with my banker, have always remained loyal to them, unbelievably in 30 years have never not made a payment on time to them, and because of this we both have done hundreds and hundreds of profitable deals together. Sure I may have to pay a little more in interest , (not really though), but its really worth it to me to talk to one of the men in charge of things as opposed to the 20 year old metro sexual in a fancy suit that just got hired on and is looking to "shake" things up and if I would just take his advice my business would skyrocket. (these big hat, no cattle guys really annoy me :) ) Get away from those big bank monstrosities, and take a small town banker out to lunch, I don't think you'll be disapointed.

Sean

I'm not a wholesaler, but I have gotten a lot of deals just by being honest about my intentions. I tell them my general plans ,( " Mr seller, I would like to give you $100,000.00 for your home put $30,000.00 into it and sell it for $175,000.00.) If they don't like the fact that I'm not going to live there and that I need to make money on the deal, then I'm in the wong house anyway.

Once you lose trust, you will probably not get it back no matter what you do or say, but most importantly you have "ruined" that seller for anyone else who comes by. They may lump us all together as thieves.

I 'm not looking to stereotype wholesalers together, but the ones that have contacted me to do business with them have been huge time wasters for me. I worry that since wholesalers seem to be people just starting out or that don't yet have the skills needed to find money, they tend to give a bad name to investors because they tend to say a lot of things that they generally can't make good on, and then when I sit in front of that seller, I have to work much harder at making them believe that I will do what I say and won't waste their time. Once people get a bad taste in their mouth about something, its hard to convince them that you're different.

I used to do lots of owner financed deals in the 80's and 90's, I personally believe that newbie wholesalers out and about put a damper on that for us buy and sell guys because they've kind of gotten a bad rep. with sellers because too many of them lead sellers on and don't follow through.

Sean K

I just have my 230 pound handyman step on every inch of the seams with his feet. Haven't had a seam come apart yet....PSI doesn't get much more than that.

Sean K

I get that question alot too, I always answer the same way. " How many properties do you own? My answer......."too many."

Man I wish I would have used that come back when my dad called me crazy for risking "everything" 20 plus years ago when I started this business. I can just hear it now....." Gee dad, you're worried about me losing it all in this "risky" venture, I guess if this deal goes bad I will have to relinquish everything I own and all my savings. I hope the $200 that I have in savings and my crappy $2500 car will cover it all.." Priceless :)

I have to tell you Bill, I laughed out loud when I read your post. Funny thing is, 20 years later, No one seems worried that I don't know what I'm doing anymore, at least no one but me. Ha Ha.

Sean K

Heck in the landscaping business, rain is a good thing. It means that you'll keep having a job mowing grass that grows, and you won't have to just go through the motions to get billable time :)