All Forum Posts by: Todd C.

Spoke to every single one of them today and as expected, MAYBE only 1 of them will turn into a deal, but even that may be a stretch. One guy was an investor and told me I'm making the right moves getting out there. Another 2 of them were just "feeling" out the market, another turned out to be a fix/flipper turned hold and renter. Finally, I reached one guy that I believe is an investor but still selling the property at a pretty deep discount. I'm not sure if its just because there isn't any interest in the area or what (will do some digging tonight) but I have a scheduled appointment to see the house on Saturday. My one concern was that he gave me a price and essentially said its non negotiable as he isn't in a rush to sell it (so goodbye motivated seller). I'm wondering if this meeting would be a waste of both of our times.

Regardless, it was a fantastic learning experience. I've got 200 yellow letters stamped and ready to be dropped at the post office tomorrow and will continue reaching out to the leads I received above. Hopefully I'll get another few bites over the coming days/weeks.

Hey all -

Long story short, I was able to locate people that have vacant homes in my area (which are I believe for the most part trying to rent out the properties). I was able to locate some of their phone numbers and/or e-mail addresses and have either left them a voicemail or sent an e-mail with similar text to that of a yellow letter. 

Surprisingly enough, I've received a pretty high response rate and have gotten 6 call backs (none of which I answered) and a few e-mail responses. I'm planning on calling most if not all of leads back today. With that said, what exactly do I need to find out prior to scheduling an appointment to visit the properties?

Thank you! 

 Thank you! That helped immensely. I suppose I'm getting ahead of myself seeing as I haven't even sent out my first batch of yellow letters yet, but will be sending out probably around 200 this week, which I know isn't a whole lot - but it's a start. I just get hung up on all the intricate details after you finally locate a deal. I guess i just have to go through it and learn along the way. 

Hey all, I'm fairly new here and wanted to introduce myself. I work and live in NYC and will be attempting to wholesale on a part-time basis in the surrounding areas. I've read a whole lot on the matter, listened to a bunch of podcasts and am in the process of writing a whole bunch of yellow letters to start my marketing off. 

With that said, I can't help but get confused whenever I read or listen to someone when they are talking about the steps following making an offer. I understand once you have an agreed upon offer you get a contract together (which I've taken from this site) and sign it. But everyone always mentions something about escrow and/or earnest money and I can't help but not completely understand the process surrounding that. So let's say I have a deal for $100,000. I bring the contract to the seller and go over it with him, we both sign it...then what? 

I'm also confused, and this is quite possibly a very dumb statement, with why sellers are more inclined to sell for cash rather than with a buyer that is getting financed? Is it strictly because the time it takes to close is much shorter?