All Forum Posts by: Stinson Bland

It is all about networking with people that have money they want to invest. It is really pretty simple…

•Meet people that have money to invest
•Befriend these people
•Tell them what you do
•Tell them about your experience
•Explain to them how you use private money to complete projects and pay a good interest rate
•Tell them about real life scenarios where people made money investing into your projects
•Explain to them how these deals are structured and how their investment is protected
•Present them with an opportunity to make money in real estate using your expertise
•Offer them referrals to other investors that have been happy with their returns
•Close the deal
•Complete the project
•Pay them their profit
•Repeat

This conversation could happen in the matter of minutes or over several months… depending on your experience and sales ability.

I’d advise that you speak to an attorney before you raise any capital (a Real Estate Attorney is preferred). It is also advisable that you have a thorough understanding of the legalities and how to structure a real estate investment.

Good luck.

I do not believe you can make profit on this deal and you may be wasting your time. $100 a month doesn't buy you much in 2012.

I believe billboards are great for branding but I do not think we get many calls from the billboards we have all around D/FW. We may not get many calls from the boards but most people in our area know our company/brand. I believe we are the first company that many people think of when they have an ugly house to sell... And that is a great thing.

I'm with Chris and joined for the Lowes discount. They spoke at one of our HomeVestors conferences and they have some great goals to improve the industry.

Most of these type of post are written by over-seas SEO companies. There are many of these SEO companies based out of the Philippines and India with sophisticated online sales systems. What is most disturbing is that this method will help build your SEO ranking and generate more traffic to your site based on backlinks and keyword tags. Their prices are absurdly low and the techniques they use work… Luckily most visitors will quickly leave the site to find a company that speaks the traditional English language.

Based on your example: I'd say you're very low on your repairs estimates.

I'd suggest you start talking to contractors to get an idea of cost in your area. A few walk thrus at HomeDepot with a note pad will be very good education aswell.

I'd only have them cleaned for the following reasons:

Mold
Pet Odor
Smoke Odor

What is the size and condition of your property? It is very easy to spend $15K on a small/cheap rehab.

I disagree with many of the statements on this thread that represent both sides of the arguments.

First and foremost, wholesaling is not a secret industry that a select few know about… it is peddled all over the internet when you search for REI information. There is always someone looking to buy a "get rich quick without any money" idea.

In my opinion, there is no reason for a Realtor to be threatened by a REAL Wholesaler. All Realtors want to move property to get paid and at the end of the day, I do not believe they care who buys the property as long as they do what they say they're going to do.

A good Wholesaler should know if he has a buyer simply by looking at the property online. I’m not at the level that I have 100% buyers all over Dallas but there are certain areas that I know (without a doubt) that I have cash buyers that will buy my properties… and I can identify these properties online and confirm them within 5 minutes of walking the house.

I do believe most Realtors do not like Wholesalers because MOST Wholesalers are wanna-be’s that are simply a waste of everyone’s time (this thread confirms that point). Spend some time in the wholesaling forum on BP and you will quickly see what I mean.

I also disagree that you have to be in the high dollar markets like CA to make big assignment fees. You make money as a wholesaler when you BUY property… not when you sell it. A good buyer can make big fees in any market if they know how to generate motivated leads.

I am new to the industry (13 moths in) and I consider myself a decent wholesaler that makes a good living doing what he loves… but there are several guys in my market that are easily netting well above $100K+ as wholesalers (I personally know 4 of them). They are professionals and run a real business.

BTW, most REAL Wholesalers are also true Real Estate Investors and have their hands in other aspects of the REI industry. Every successful wholesaler I know also rehabs and is adding rentals to his assets.

I agree with everyone here... Answer the phone every time it rings. Be polite, smile when you speak, build rapport, mirror their tonality and speech patterns.... but most importantly; LISTEN to what they're saying to you. Show concern for their situation and make suggestions that are solutions for their problems.

The only calls I don't pick up are Bandit Sign calls. I choose not to answer these call as most of the callers are calling to complain about the signs or they're simply "tire kickers". I've never had good luck with those signs.