All Forum Posts by: Stephen Morales

 It depends, we recently had a deal where we got under contract for $26k, We new AS-IS there was a strong possibility to sell it on market for $95-100k. So we shopped it out to our consistent buyers but at a strong price of $75k. Long story short, we settled with one of our VIPs for $72k they put up a non refundable the same day. If we did not have the buyer for the price we wanted we would have closed on the deal ourselves to maximize our profit. 

In this business though, it's all about speed. We will take the quick deal any day over making a few extra thousand bucks. 

I'm an agent, an investor and a wholesaler. Some places like Illinois for example require individuals to be licensed with the state in order to wholesale more than 1 deal per year. 

The biggest issue is most of these "gurus" that get new wholesalers involved teach them to be deceptive when they approach realtors. 

To anyone I've ever helped get started I've taught them that transparency is number one when you're looking to work with an agent.

I started off as an agent and I used to HATE wholesalers. They were taking my investor customers away from me and keeping me from getting a commission. Most wholesaling firms will make an agent put their commission on top of the deal so why would your investor do that when they could cut you out of the deal. Luckily my customers were pretty loyal to me but you get the point. 

I couldn't beat them so I joined them. I make way more money wholesaling and investing then I ever did as being just an agent. 

Just be transparent if you plan on working with a Realtor, you know how many times they have a "Buyer" or "investor" calling them or emailing them that " I NEED TO FIND DEALS ASAP" only to find out it's another wholesaler trying to get deals out of them. Not to mention they have a dozen other agents just like you busting their tail for them. 

I'm an agent, an investor and a wholesaler. Some places like Illinois for example require individuals to be licensed with the state in order to wholesale more than 1 deal per year. 

The biggest issue is most of these "gurus" that get new wholesalers involved teach them to be deceptive when they approach realtors. 

To anyone I've ever helped get started I've taught them that transparency is number one when you're looking to work with an agent.

I started off as an agent and I used to HATE wholesalers. They were taking my investor customers away from me and keeping me from getting a commission. Most wholesaling firms will make an agent put their commission on top of the deal so why would your investor do that when they could cut you out of the deal. Luckily my customers were pretty loyal to me but you get the point. 

I couldn't beat them so I joined them. I make way more money wholesaling and investing then I ever did as being just an agent. 

Just be transparent if you plan on working with a Realtor, you know how many times they have a "Buyer" or "investor" calling them or emailing them that " I NEED TO FIND DEALS ASAP" only to find out it's another wholesaler trying to get deals out of them. Not to mention they have a dozen other agents just like you busting their tail for them. 

 So I actually started off doing PPL but after a couple of months of using them the price exponentially increased. I'm talking $100 to now $450 per lead in my area. The problem is there is no guarantee that your lead is not being shared. In fact, there were a couple of times where I would call leads and they had a contract with someone else or was in the process of being listed. Now sometimes I would get a credit for a new lead but you have to write a detailed explanation every time I would ask for refund and wouldn't always get it rewarded. 

I had one that also did a flat flee for leads but there are other ones that do auction style. It was called Need to sell fast or something it's been several years since I used them. 

Now I just stick with a team of VAs that do my calls and lead generation and I handle all of the acquisition and dispo. We pull at least 50,000 records per month consisting of high equity and preforeclosures. I recommend using Prime Tracers for skip tracing large list if you value accuracy without exhausting your monthly marketing budget.