All Forum Posts by: Tim Macy

PM me if you'd like more hard money options, 4 and 14 isn't too bad, but there are better rates out there.

@Brett Elia I'm a little late to the party, but I skimmed through and think I have a good idea of whats been said and what hasn't.  

Wholesaling the MLS is not about tying up some property at list or slightly below and trying to off-load it to someone else (although it happens often).

Wholesaling the MLS is very similar to sending postcards, you send 1000 postcards to owners and hope a motivated seller that needs to get out of their house responds. Wholesaling MLS you send out 30-60 offers a week and hope that 2 find motivated sellers that need to sell their house that maybe their realtor has fallen asleep on and hasn't lowered their price.

Buying investments off MLS in a competitive market is about finding the soft spot in the market, the houses that are willing to take much less than the list price, the only way to find that is to make a ton of offers.

I've never "Wholesaled" anything on MLS, I've made a ton of offers and connected on some directly for investors or bought it myself. As a realtor, negotiate a full priced back end listing in exchange for writing all of those offers, and it should start to make sense.

Thank you guys for the recommendations.  @Shane Reese let me know if you'd like to set up a call and see if we're a good fit.

Alamo REIA is my favorite one. There are a lot of informational sessions without the heavy pitch.

I also like the smaller ones on meetup.com that aren't REIAs, just some people getting together.  

@Gates Mueller I wouldn't listen too much to people from other markets, every area is very different, even just up the road in Austin.  

I've found making offers in our market is a volume and follow up game.  You can't make offers expecting to make a deal on every house, you have no idea how motivated the seller is and what is going on on the other side of the agent/seller relationship.  I'm making the offers looking for a soft spot, a seller that is ready to let it go or someone that is looking for my better terms than the rest of the offers.  If you're not getting a counter, then it's not the seller you're looking for.  I find we're looking for the right seller than we are the right property. 

I hope the best for you! I never like the MLS game, but it is the place with the most properties.

@Bob Malecki I'm pretty familiar with the Med Center, NW area.  Townhomes in that part of town sell pretty well depending on the subdivision.  I would recommend waiting until May and liquidating when its vacant. If its move-in ready and priced right, it should sell fairly quick.  

There are plenty of solid owner occupant buyers looking for townhomes in the area, so listing is probably the best bet.  Like @Seth Teel said, investor buyers will likely need a bigger discount.

I'd recommend coming down for a weekend and taking a tour with an agent. You don't necessarily need to see a lot of houses, but just get a feel for the different areas.  It's pretty hard to describe what each area has to offer without seeing it in person.  Once you figure out your area, try to get into something that will cash flow when you decide to move on.  

I'd also recommend buying some Spurs apparel!

Welcome to BP!  Download the podcast and listen to everything!

You can find plenty on Meetup.com, there are a few that I go to regularly. As far as the larger REIAs, I recommend sticking to Alamo REIA.

@Mohammad Haidarasl you bought the membership and all that, now just suck as much value from it as you can.  All of those things are over-sold, but there it usually good info in them.  Just go in there and be a sponge and soak up new info, but leave the credit card at home.