All Forum Posts by: Tracy Sharpe

Hello Nima, I live in North Fort Worth, in a development called Sendera Ranch. Many people call it the Alliance Corridor. There are many new businesses that have developed out here since my wife and I first purchased our 5 rental properties. There is now an Amazon distribution center, WalMart, and many other businesses which were not here when we first purchased these rental houses in 2005. Unfortunately, we purchased our properties the traditional way, 20% down, retail through the housing developer. More expensive but I didn't know any better back then. Since we were able to hold on through the bubble, it has paid off. I can rent a property in a day if we need to. Furthermore, the values have gone up, along with taxes, but my tenants pay the taxes in rent received. In any case, it's a good area. I hope I have been of some help.

Hello Demetrius, I am also a new wholesaler based out of Fort Worth, Texas. I have listened to many podcast and decided to use the criteria that I have heard the most. If marketing to reach absentee owners, the criteria that I am currently using is as follows: I am marketing to 3 zip codes in the City of Fort Worth, State of Texas, County of Tarrant, Single Family Residence, Equity-51-100%, Last Market Sale Date-1900 to 2013, Absentee Owner and Out of State addresses All States, Mailing Address complete, Corporate Owned Excluded. Based on my criteria, I received 912 Opportunities that I will do multiple mailings to. I will keep you posted on the results which may take several mailings. Nevertheless, I just wanted to be of some help. Of course, their are many different ways to work the criteria but what I have provided seems to be the primary items that you can use for Absentee Owners. I am sure that some of the pros have other criteria that can be added.

When I stated leads, I meant names to mail out. It could have been in the thousands depending on the criteria used.

Hello Trey, I am a new wholesaler. I have listened to many podcast and decided to use the criteria that I have heard the most. If marketing to reach absentee owners, the criteria that I am currently using is as follows: I am marketing to 3 zip codes in the City of Fort Worth, State of Texas, County of Tarrant, Single Family Residence, Equity-51-100%, Last Market Sale Date-1900 to 2013, Absentee Owner and Out of State addresses All States, Mailing Address complete, Corporate Owned Excluded. Based on my criteria, I received 912 leads that I will do multiple mailings to. I will keep you posted on the results which may take several mailings. Nevertheless, I just wanted to be of some help. Of course, their are many different ways to work the criteria but what I have provided seems to be the primary items that you can use for Absentee Owners. I am sure that some of the pros have other criteria that can be added. 

Also, I see that you have LeadPropeller for your website. I do too! I am working forward to getting my first deal. Thanks again.

Chris, thanks for the information. I believe that one of the key actions that I must do is attend a local REI group meeting. I have yet to do that. Again, you have been very helpful. I will let you know when I do my first deal. God bless, Tracy Sharpe.

Hello everyone, I am going through the steps to establish a wholesaling business in Fort Worth, Texas. I will be sending out a thousand post cards to several areas in Fort Worth to absentee owners. I am contacting investors who send me post cards to my residence and putting them in my data base as potential buyers and contacts. 

Since I am able, I listen to podcasts to educate myself while still working an 8 hour shift. I am reading a variety of investment related books and also listening to audio books. The bottom line is that I am preparing myself for a campaign that I know will generate phone calls and deals.

Furthermore, in preparation of getting a deal under contract, I have also been investigating the type of contract and the verbage that should be in a contract to present to a potenial seller as well as where to open escrow. 

I am still investigating what verbage should be in a wholesaling contract, but I have also found, through some BP posts, that I could have a potential problem in opening an escrow with a title company because it's an assigment contract. Is this true? Also, does anyone know of a title company in Fort Worth, Texas that works with wholesalers? I greatly appreciate any feedback concerning this matter.

I am also learning more about wholesaling. I first identified a particular area to farm. I have developed a postcard that I will use for direct mailing. I am trying to develop relationships with potential buyers/investors so I can establish a buyers list. I have a script to use when a call comes in. I will run any deals received through BiggerPockets cost analyzer. I will make an offer then I have a Texas contract to use to get the property under contract. I am educating myself of the process through books, podcasts and suggestions from BiggerPockets members. I have yet to establish a relationship with a realtor so I am working on that. I welcome any suggestions from BiggerPockets members. Thanks

Thanks James. After further research, that is what I also discovered. Thank you

In a short sale of a property, if there is a 2nd lien, is the 2nd lien also paid off? And would the homeowner be responsible for what wasn't paid off? The house is in California,