All Forum Posts by: Jon C.

Thanks Justin. Looks like I should always default to whoever pays the taxes.

Is this lead check something I should even be doing? Its tedious as hell:) Or do people just mail the letters out based on the lead source and the occasional dud is just the cost of doing business?

I forgot to add: If the property owner(individual) is different than the lead list, who to mail? For example, when I type the info into the assessor site, I get 3 options for the same property. 2 of them list Owner A, one lists Owner B, who I have listed. When I click the property info, all three list Owner A.

I purchased my first list of leads for a yellow letter mailing. The leads have only the last name. I've been running them all through the county assessor to get first names and verify things. If the owner listed on the assessor site is a company, am I too late? Also, if the assessor site has a different mailing address than the property, which one should I use?

So for finding sellers, is the general consensus to leave the signs up or take them down after the weekend?

I'm not sure how to approach a realtor for assistance, as all I really want is their MLS access. As a beginner, I am just wholesaling, so there would be a lot of low offers, along with little commision. Since a finder's fee may not be kosher, what if I wrote up the offers and forwarded them thru the realtor to sign and forward to the seller? They get their commission, do nothing but sign and fax, and give me MLS access.

Maybe I could post an ad on Craigslist? Is it unethical to outright ask for their mls access? Is that something that is more hush-hush that should be approached once you have a conversation with them?

Im curious how people in markets like Phoenix make money on rentals then. You guys say don't buy homes for rentals in these markets. But, like every other city in the world, there are a ton of rentals. Someone owns these homes and I doubt every owner is losing money.

I do agree with the 50% rule. But here in Phoenix, there's no way its being practiced. Yet there are a ton of rental homes. So who's making the money?

I don't follow. I can't see how rehabs are easier than wholesales. The problem you seem to be having is finding properties. How is that changing with rehabs? You still gotta find the same deals. The only difference is that instead of passing the work onto someone else, you want to take it on yourself. I don't see how thats easier.

Assuming you found a great deal...

1.How up front should you be to the seller? Someone else(your buyer) is gonna be closing. Should it be vague mentions of a "partner" or do you tell them straight up that you are a wholesaler and will have someone else buying the home? And can this kill a deal?

2.Ok, you got the house under contract and have a buyers list. Should I contact one buyer and offer them 24-48 hours exclusivity to say yes/no, then move on to the next person? Or should I send it out to everyone and first come, first serve? Or should I advertise the home in the paper while doing the above?

Thanks.

Thats interesting. How did you get contacted in the first place? I thought the show was canceled since I haven't seen a new episode in a while and the reruns are sporadic.

I think the best show is Property Ladder. 90% of the time, they show some first timer trying to flip the house and going nuts, usually breaking even or losing money. And the expert seems to know what she's talking about. Yet the flippers always ignore her advice, can't sell, then decide to rent the home out, or vow to never flip again.

The Real Deal is ok but a little too heavy on the sentimental stuff.