All Forum Posts by: Steve R.
Steve R. has started 2 posts and replied 4 times.
Thanks for the input everyone!
I'm just going to keep mailing letters. I should probably get a larger list though.
I am looking to do 1-2 deals per month. Would you guys be looking at a list of 1100 or 2600? I currently hand wrote all the letters, but now I it setup it up for automation so I can get hand written fonts on yellow lined paper. Took some trial and error but that will make things much easier. I have access to an industrial printer so the volume isn't an issue.
I'm looking to hit:
1100+ absentees
65 y/o+ deed holders w/equity in specific zip codes( 200-400 names)
Code violations
Driving for dollars
These are the marketing strategies I am currently implementing.
^ are these reasonable strategies to meet my goals?
Interested in hearing opinions from people who are actually consistently closing 1-2 or more deals per month.
I bought a list of 400+ and sent out around 200 letters, and got 12 calls. Most of which were tire kickers, but I looked at one house. Overall there was no deal, my friend who does many flips per year came with me to look at the house and help negotiate. The guidance is nice, since I am new to this. Good learning experience, regardless. That said...
I am going to diversify my mailing groups, but overall how many postcards/YL would you send if you wanted 1-2 deals per month? Would 1000 mailers per month be sufficient to various prospects?
Post: Few Basic Questions: Contracts/ Title Company/ Investors
- Buffalo, NY
- Posts 4
- Votes 0
Originally posted by @J Scott:
There's no single right way to do things, but here is what I would consider standard:
1. Until all parties have a copy of the fully signed contract, it's not binding (at least not in the states where I work). So, you need to ensure that all parties have a copy of the contract in-hand before handing it off to the title company. Once you have an executed contract in everyone's hands, it's typical for the wholesaler to provide the contract to the title company (email or hand-delivered).
2. In my opinion, a wholesaler should explain to the seller that they will be attempting to find someone to take over the contract. That means they'll need to bring people through the house. Hopefully, the seller agrees to allow other people through the house, though a good wholesaler will keep the number of visits to a minimum and will attempt to be as non-disruptive as possible.
3. If there is a tenant in the house, you should coordinate any showings with the owner (not the tenant -- unless the owner tell you to). The tenant has a right to stay in the house for as long as their lease stipulates -- you can't kick them out beforehand and neither can your buyer.
4. Yup. Though you may want to continue to facilitate the transaction to ensure it gets to closing smoothly.
Thank you! I appreciate the input. :)
-Steve
Post: Few Basic Questions: Contracts/ Title Company/ Investors
- Buffalo, NY
- Posts 4
- Votes 0
Hello all:
Just wanted to say this is a great forum, with a large number of highly knowledgeable individuals. I am just slightly confused on a few parts of the wholesaling process. I would greatly appreciate some input from anyone with experience; I am trying to learn as much as possible about the process.
1. Once you get the seller to sign the contract, do you "the buyer" keep that contract and bring it to the title company? Does the seller get a copy as well, or is there only one copy of the P&S agreement?
2. When the house is under contract, how do you go about showing the property to a potential buyer? I've seen on some contracts that seller must be given 24 hours notice, etc. prior to bringing a viewer into the home. How do you typically go about it with your deals?
3. What if the house currently has a tenant living there? They don't need to do anything until the property actually "sells", is that correct? As in they can still live there even if I have the property under contract?
4. Once the end-investor signs the assignment of contract, do I just bring that to the title company as well, and they take care of it from there?
Thank you, I appreciate any input or answers!