All Forum Posts by: Thomas Loy

@Gavin Welch , 

Could you explain on how to use VA's to generate leads? @Lisa Shearer Hughes and myself would like to know!

Thanks!

I want to thank you all for your feedback. I haven't been ignoring all of you just wanted to get a group of responses to address at once. 

Basically what I am getting out of this is not to try it because other investors frown upon it. I have a question to ask about that though. Why does it matter where the wholesaler finds the deal? If a wholesaler comes to you with a deal that is a true deal, why would you not want to take the deal just because they found it on the MLS? If it fits your criteria and is under contract 65-70% isn't that still a deal that you didn't have to spend your time negotiating for?

I really am not trying to reinvent the wheel, I'm just trying to get the mindset straight. 

Thanks again!

So you're saying not to even try it? What's a better way to generate leads? I have buyers lined up, I just can't find any properties for them.

Hey all,

Quick question, is there a way to get past the POF when wholesaling off the MLS? I've been trying off market wholesaling through driving for dollars and yellow letters. It's not giving me the results I'm looking for. Want to try something new in conjunction with what I have been doing.

Thanks guys!

Tom Loy

Darren,

If you don't mind me asking, how did this deal pan out for you?

Darren,

I'm new in the industry so you should take my advice as a newbie but, what I have seen so far is when sellers say the prop needs work, usually means more than they are letting you believe. If I'm doing the math right you are only figuring just over $8.00 per s/f for rehab. In my opionion, that needs to revamped. Which would bring your MAO down quite a bit. To me, there is no deal here. However, maybe try a sub2 and hold on to it if the property could cash flow pretty well.

I've heard a lot about getting deals subject to the existing mortgage. Does anyone know how this works? To me, this would be beneficial starting out and not having the finances or the ability to get another mortgage. Any help would be greatly appreciated!

Hey all! Iv'e been trying to find some REI clubs in the Quad Cities IA/IL area. Does anybody happen to know of any? I've found one ran by Country Musick. Great guy and very knowledgeable, however, I'm looking for more networking opportunities. Any help will be greatly appreciated. I look forward to working with some of you in the future!

Hi Steve,

I am also from the Quad Cities area. Have you had any luck yet?