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All Forum Posts by: Thomas I.

Thomas I. has started 13 posts and replied 74 times.

Post: Wholesale contracts and assignment fees

Thomas I.Posted
  • Flipper/Rehabber
  • Metro-Detroit, MI
  • Posts 77
  • Votes 16
This is something you just need to get over. You are providing a service to them. For the service, you are to be paid. While the distressed seller may not get everything they want. You are coming to an agreement where you are providing what they NEED! Quick close, fast sale, money in hands ASAP. Disclaimer: I haven't done a deal yet but won't have any problem getting paid for the service I provide. Just don't make it seem shady. (cause it's not) Be upfront and tell sellers that you are an investor and you require a discount and will be making money on the deal. Explain that you will help them get out of whatever situation they're in. You didn't put them in that's situation, but you will provide them with a solution. Also...Your assignment fee is not the same as a realtor commission by any means. Commissions come out of the final sale price. Assignment fees do not. This means that your fee isn't really "visible" when they get their check. They still get what you agreed upon. Hope this helps!

Post: Wholesale a per foreclosure

Thomas I.Posted
  • Flipper/Rehabber
  • Metro-Detroit, MI
  • Posts 77
  • Votes 16

You can send me the address in a message and I'll look it up on the MLS for you now if you like. I got a few minutes before dinner is done. :)

Post: looking for a good metro detroit area broker

Thomas I.Posted
  • Flipper/Rehabber
  • Metro-Detroit, MI
  • Posts 77
  • Votes 16

Hi Brandon,

I just went through the same process. I ended up at Keller Williams in St. Clair Shores. They are the best company to go with for someone that is just starting out. The offer classes ALL the time and also have a mentorship program that will help you with your first few deals, rather than just throwing you out to the wolves like most firms.

If you have any questions feel free to ask.

Good luck!

Post: Wholesale a per foreclosure

Thomas I.Posted
  • Flipper/Rehabber
  • Metro-Detroit, MI
  • Posts 77
  • Votes 16
I would also double check that is actually in pre-foreclosure. Zillow isn't all that accurate.

Post: Anyone using "Realist" out there?

Thomas I.Posted
  • Flipper/Rehabber
  • Metro-Detroit, MI
  • Posts 77
  • Votes 16
Brian Burke I am using it as a part of the mls as well. The two together are great for building a cash buyers list as well as absentee owners in an area for wholesaling purposes. Will likely hire a VA to pull as much data as possible for those two tasks. What are you using it for?

Post: Anyone using "Realist" out there?

Thomas I.Posted
  • Flipper/Rehabber
  • Metro-Detroit, MI
  • Posts 77
  • Votes 16

Haven't seen many posts about using REALIST as a tool.

Anyone out there using it?

Post: Recommended Real Estate Investment Analysis Course?

Thomas I.Posted
  • Flipper/Rehabber
  • Metro-Detroit, MI
  • Posts 77
  • Votes 16

@Jay Oldham Good find! Anyone go through this course? Looks like it could have some good info.

Post: Virtual wholesaling questions

Thomas I.Posted
  • Flipper/Rehabber
  • Metro-Detroit, MI
  • Posts 77
  • Votes 16

Interesting!

I love the "work from any internet connection" model.

I am pretty new to the wholesaling world, but I would suggest getting a new google voice number for each area you market to. Try to have the area code be specific to where you market. It would definitely be a lot of numbers, but I think it would go a long way in getting call backs.

How were you going to market to each area?

Good luck!

Post: Than from A&E the Boston Flippers pimping his "system"

Thomas I.Posted
  • Flipper/Rehabber
  • Metro-Detroit, MI
  • Posts 77
  • Votes 16

I just did the 3 day seminar. Made it through day 2. There were essentially 4, 1.5 hour sessions throughout each day. Day 1 was 2 sessions of fluff and 2 sessions of decent info that I pretty much already knew from the limited time I've been on BP. (definitely learned some good stuff though)

Day 2 was 3.5 sessions of self promotion, and about 45 minutes of explaining what seller financing was a some basic, creative financing examples.

Didn't return for day 3.

While I didn't learn everything I wanted to, I am happy I went.

I know this forum naturally hates on gurus...but I do know someone in my local market that did the full course ($25k+) with these guys (among others). It seems as though he is very happy he took the plunge. From what I can tell, he's absolutely crushing. So it's just a matter of wanting to take the time to learn everything yourself, or pay to have it wrapped up in a nice little box for you. Might seem expensive, but if they teach you to do 10k-50k deals like clockwork, it ends up being pretty cheap.

Post: Wholesale Leads and Licensed Agents

Thomas I.Posted
  • Flipper/Rehabber
  • Metro-Detroit, MI
  • Posts 77
  • Votes 16

@Bryan L. That's great. I'm really excited to get started.

I think I'm going to do a test of 1-2k post cards and see what kind of leads it generates. I think it will convert higher than just the standard "I'm a realtor in your area and want to list your home" post card.