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All Forum Posts by: Robbie Reutzel

Robbie Reutzel has started 27 posts and replied 268 times.

Post: A Few Questions from a Newbie Wholesaler

Robbie Reutzel
Posted
  • Attorney
  • Acton, MA
  • Posts 303
  • Votes 211

You get what you pay for.  I have no affiliation with any of them but have used them.  Find the seller has been pretty reliable but, again, it's $10/trace.  Spokeo is less reliable but only $4.95/month.

Post: A Few Questions from a Newbie Wholesaler

Robbie Reutzel
Posted
  • Attorney
  • Acton, MA
  • Posts 303
  • Votes 211

Just do a google search and loads will come up.  findtheseller.com is good but $10/trace.  You can try Spokeo.com as well which is only $4.95/month if you sign up for 6 months.  There are a bunch of others as well.

Post: A Few Questions from a Newbie Wholesaler

Robbie Reutzel
Posted
  • Attorney
  • Acton, MA
  • Posts 303
  • Votes 211

@Quinterrius Eatmon

"Not as accurate as it should be" is a an understatement. Redfin's actually not that bad and eppraisal is ok. As you mentioned getting MLS access or partnering with a realtor to run comps is the ideal situation. I would also suggest just getting licensed yourself as to avoid this issue as well as the "brokering without a license" snafu that can come up.

Short of MLS access I would go to 3 of the sites you mentioned and do an average. Not super accurate but it gives you something to work with.

As far as vacant houses, you will need a skip tracing service.  You will have to pay to use these services, some are good and some are not so good but they are very good leads if you can track them down.  

Hope this helps.

Good luck, Rob

Post: I need solid advice!

Robbie Reutzel
Posted
  • Attorney
  • Acton, MA
  • Posts 303
  • Votes 211

@Stephen Callaway, I 2nd what @Ashley Pimsner said about JV'ing or wholesaling or some combination of the two i.e. wholesale it for $5K on the front end and 10% equity going forward or something like that.

Those are certainly the most straightforward ways and probably shouldn't be difficult if the deal is as good as you say.  You should definitely put together a marketing package to give to investors and just keep going to REIAs and networking until you find someone.

Now, I'm not sure what your situation is but have you looked into a HELOC? Borrowing from friends/family if you can show them how good the deal is? There were gurus out there who espoused taking cash advances on credit cards to get the down payment money. I wouldn't necessarily suggest doing that but it has been done in the past with some success. Master lease?

If it were me, I would be looking to JV with an experienced multi-family investor. Then make sure you pick their brain often and learn their systems.

Good luck!

Post: New Member from Tampa, FL - My Story

Robbie Reutzel
Posted
  • Attorney
  • Acton, MA
  • Posts 303
  • Votes 211

Sorry, should be "will most likely NOT get a deal on that first 1000"

Post: New Member from Tampa, FL - My Story

Robbie Reutzel
Posted
  • Attorney
  • Acton, MA
  • Posts 303
  • Votes 211

Hi @Michael Marzuco

I totally understand your situation.  Unfortunately it is all too common and although it's probably difficult, you have to keep marketing for at least 6-12 months before you can even begin to know what you don't know and what is working. 

Keep this in mind.  If you send 1000 postcards a typical response rate is 2-3%.  So if you get 20-30 calls from those postcards (just an example, insert bandit signs or PPC) and you have a very typical 1% close rate you still will most likely get a deal on that first 1000 because you are only likely to get .2-.3 deals from that mailing.  But if you do that month after month, and continue to make touches with decent marketing pieces you should see a deal in 3-4 months possibly sooner but also possibly farther away.  

It's a simple truth of marketing based on the typical numbers.  The other thing you have to realize is that you probably have not perfected rapport building and asking probing questions.  That is a very under-rated skill which directly affects your closure rate.  

My point is not to discourage you it is to tell you that you need to cut yourself some slack.  You can't possibly be an expert at this right off the bat.  Most deals are a struggle and happen after 6-12 months of continued contact.  Wholesaling is not easy, in fact it's probably the most difficult investing strategy because it requires you to not get a good deal but an AMAZING deal.  

Just keep working and keep hustling.  I would also hire a coach but some people feel differently than me on that point.

Post: Introductions rounds 2 from North Jersey and Boston

Robbie Reutzel
Posted
  • Attorney
  • Acton, MA
  • Posts 303
  • Votes 211

Welcome @Jared Smith

100 units is a good goal and very doable in 6 years.  There are some decent markets in Northern New Jersey although I know Boston much better.  Boston proper is pretty over-heated on the multi-family front and in general but markets like Worcester, Lowell, Lynn, Lawrence, Chelsea and further out in Woonsocket, Hartford, Nashua NH, Salem, NH etc. still have some good deals.  Every market has good deals it's just how difficult it will be to find them. 

Anyway, reach out if you want to discuss the Boston market.  I am happy to do that.

Best,

Rob

Post: Fitchburg MA Wholesale Deal. Asking $80000, ARV $190K+

Robbie Reutzel
Posted
  • Attorney
  • Acton, MA
  • Posts 303
  • Votes 211

Rehab property in Fitchburg MA! Needs $50-60K in work, ARV $190K+

Give me a call at 774-262-6500 to request a marketing package.

http://www.massfastcashoffer.com/property/1023/

Post: Fitchburg MA, SFR Fix and Flip! $80,000.00 ARV-$190,000.00+!!!!

Robbie Reutzel
Posted
  • Attorney
  • Acton, MA
  • Posts 303
  • Votes 211

Fitchburg Wholesale Deal. $110K+ spread. Asking $80K, needs ~$60K in work, ARV-$190K

Email me at rreutzel@reutzelrealestatesolutions.com for the marketing packet.  

Post: $50000.00 vs. dedication and hard work

Robbie Reutzel
Posted
  • Attorney
  • Acton, MA
  • Posts 303
  • Votes 211

That should be 100, hahahaha!