All Forum Posts by: Tom Port

Cheers for the reply @David M. I owe you a virtual pint! 

I'm referring to what I've read called "Whole tailing" which as I understand it, refers to buying a off-market property that does not meet your criteria as a long term hold and fixing it up just enough to flip. For those not wanting to wholesale, this is perhaps a more preferable strategy.

Thanks everyone, great feedback. A lot to think about. 

I suppose my thinking is/was that in order to be successful in this game, you have to find good deals, in order to find good deals (Especially in my market) you need to go off market, which from a sales perspective I am absolutely comfortable doing, however what do you with those motivated sellers that do not fit your criteria? If the general consensus is wholesaling is unethical do you then Whole tale them? Legally speaking it sounds as if that's better, however, ethically speaking it sounds very similar? 

Also, in order to move quickly on off market deals, I am assuming hard money lender is usually necessary? 

Thanks all, hugely appreciated!!!

Thanks for the candid response, Charlie. A huge amount to think about here! 

Helps greatly guys, I'm sensing some animosity between Agents/Wholesalers here, I want to ensure that I'm doing the right thing by all parties involved therefore, I'll be seeking my licence to learn the trade the right way. 

Any more opinions welcome!

Hi all! 

Hope you're all having a brilliant holiday season with your friends and family! 

Quick question for you all, as discussed in a previous post, I'm looking at wholesaling as a potential strategy for acquiring property that fit my criteria while wholesaling the rest. 

My question is, shall I also pursue my real estate licence? My background is sales/sales ops. I'm certainly no expert in RE, will having my licence give me an advantage from a legal perspective (I understand there are some grey areas in wholesaling) and will it give a competitive advantage when talking with motivated sellers? 

All opinions welcome!!

@Justin Reed That’s brilliant mate! Thank you for the thorough explanation!! I might take you up on that offer!!

Thanks for your 2c @Account Closed! 

I appreciate I'd need someone to look at the marketing to direct sellers, therefore, I was looking at Ryan Dosseys CCF program? If anyone has any experience with that, I'd love to hear it! 

Also, in anyone's experience, pure outbound cold calling, how much does that actually work? Any rough metrics around conversion rates? I have extensive experience with cold calling, but frankly the conversion rates are always terrible. Surely the idea, is to use marketing to generate the leads then pass those motivated leads through your sales funnel? I don't have the time to engage in hustle porn for the sake of it!

Hi All!

Firstly, huge thank you to all that contribute here! I've been lurking around these forums and some of the advice that I've come across has been invaluable, so thanks very much! 

Here is my situation; I helped found a company, then sold it and I'm currently pending my final payment therefore, I'm in a fortunate position to put some money to work. 

HOWEVER... from all of the research/reading I've done there is one common theme that continually comes up in RE world, the greatest investors only close on deals that are GOOD deals (Which can be hard to find in todays market!) that got me thinking, how can I find these good deals? That in turn has led me to wholesaling, which in theory is great, keep those off-market deals that fit your criteria and wholesale those that don't. 

Wholesaling appeals to me as at heart, I am sales guy, and my expertise lies in doing then growing sales operations. Therefore, I have no problem with the hustle aspect, but my only concern is as I'm currently on my earn out, which means I have fairly dedicated day job that I literally can't leave. My question is, is part time wholesaling practical?

@Kris L. No, he isn't. I'm doing business with him on other deals, so this is much more of a thank you. Thanks for replying! 

Hi all, 

Long story short, I've been working with a advisor that is deeply connected to an area that I am seeking to buy property in. We work together on a side project, and he's mentioned that he would be happy to pass on any off market deals that he can't fund himself. I want to make sure I receive those deals therefore, I was going to suggest that I'd pay a finders fee on any deals I close on. 

My question is what is the right number? I'd prefer a flat fee as opposed to a percentage, the properties I am looking to buy are in the circa 300k range! 

Thank you for any suggestions!