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All Forum Posts by: Ryan Igbanol

Ryan Igbanol has started 7 posts and replied 24 times.

Post: Wannabe Wholesale Investor from Reading, Pa.

Ryan IgbanolPosted
  • Wholesaler
  • Philadelphia, PA
  • Posts 24
  • Votes 12

The problem with the "gurus" and free advice is that none of it, that I've seen, takes into account the present economic situation in each local market or, across the country.  Sure, a newbie, which I claim to be, can use the tried and true tricks for marketing, negotiating, etc, but if due to local economic conditions you don't have enough motivated sellers in your market, there's nothing you can do to change that.  Or, to borrow a favorite "guru" analogy about prospecting for gold, if you have a barren claim there's no amount of prospecting tactics that will bring back the gold.

A lot of "gurus" made their money during the Great Recession, a once-in-a-lifetime set of economic conditions in especially distressed markets like Phoenix and certain areas of California and Florida.  Observe how many have turned toward establishing academies and mentorship programs.  Why are they doing this?  Because the bottom of the motivated seller bucket is visible and their respective markets are racing toward it.  Prospects are drying up across the country, but there are sooooo many aspiring wholesalers willing to pay for advice that, while useful when homeowners couldn't ditch their houses fast enough several years ago, might not apply today.  Fair play to the "gurus" though, they'll sell whatever is salable according to economic and market conditions; it could be Iranian carpets, vacuum cleaners or wholesaler education courses.  Whatever the market will bear.

This is my long winded way of urging vigilance and adherence to your local market conditions.  Spend as little as possible - lest the Yellow Letter "gurus" bleed you dry on vague assertions of outrageously rich results - and realize that scaling up costly marketing efforts might be a futile pursuit.

Post: Greater Philadelphia towns/neighborhoods/suburbs to invest in?

Ryan IgbanolPosted
  • Wholesaler
  • Philadelphia, PA
  • Posts 24
  • Votes 12

@Shariyf Grevious, I keep reading on this forum that wholesalers are making "tons" of money in Philly.  That's great, if it's true.  Can you name three wholesalers who are doing this and please define "tons" of money.

Post: Greater Philadelphia towns/neighborhoods/suburbs to invest in?

Ryan IgbanolPosted
  • Wholesaler
  • Philadelphia, PA
  • Posts 24
  • Votes 12

Hi guys, I'm finding - from the wholesaler perspective - that downtown Philly has been picked clean of gems, and what's left behind is vacant shells with loads of code violations, outstanding  property taxes and high water and gas utilities balances.

Folks in Fishtown, Brewerytown, Northern Liberties, Fairmount, etc. don't seem motivated because (a) owners there aren't in distress and/or (b) owners know their neighborhood's property prices are appreciating. 

I'd use the needle in a haystack analogy, but I'm not sure the present situation on the ground in Philly is as promising.

Post: Receiving calls from addresses I didn't mail

Ryan IgbanolPosted
  • Wholesaler
  • Philadelphia, PA
  • Posts 24
  • Votes 12

Hi guys, I left out one very important detail in my post: all calls are coming from vacant shells riddled with City of Philadelphia code violations and burdened by large outstanding property tax bills and high utilities balances.

I checked with my mailing guy and it turns out he pulled a mailing list I didn't approve and sent more than 1,000 letters to the addresses on it.  His list is full of vacants, which I don't necessarily disapprove of, without a second motivating factor (e.g. divorce), I would never pull a list of addresses based solely on vacancy - especially in a city like Philly, which is overrun with early 20th century dilapidated vacants. 

Can't say I'm surprised, though; my now-ex mentor referred me to this mailing guy when I started wholesaling a few months ago.  If anyone has followed my recent posts about the train wreck that is my ex mentor, it's no surprise that I'd have problems with the mailings guy.

My experience as a newbie is a warning to other newbies: stay away from shady people lest they trap you in their web/network of *&%#@.

Post: Receiving calls from addresses I didn't mail

Ryan IgbanolPosted
  • Wholesaler
  • Philadelphia, PA
  • Posts 24
  • Votes 12

Hello, hello, hello BP wholesaler nation!

Since I began yellow letter marketing to Philadelphia about three months ago, I have receive A LOT of calls from folks attached to addresses to which I haven't mailed.  I thought it was an anomaly when it started, but in the wake of my most recent mailing, it's happening again, and a lot more frequently.  In fact, during the past week, all calls have been from addresses not on my mailing lists except for one.  

I use a yellow letter mailing service that allegedly only mails to list addresses that I provide.  Also, I don't do any other type of marketing in Philly - bandit signs, door hangers - nothing.

Has anyone else received "phantom" calls like this after a mailing?

Post: Any SERIOUS buyers for New Castle County, DE

Ryan IgbanolPosted
  • Wholesaler
  • Philadelphia, PA
  • Posts 24
  • Votes 12

Hey there, BPers!

As I've mentioned in the past, I'm an active wholesaler working it in various PA, NJ and DE counties.  What I'm looking for today is SERIOUS cash buyers who are open to deals in New Castle County (NCC) Delaware, specifically, the cities of Wilmington and Newark.

Let me hear from you if you buy in the NCC!

Best,

Ryan

Post: Wholesaling mentor holding me back?

Ryan IgbanolPosted
  • Wholesaler
  • Philadelphia, PA
  • Posts 24
  • Votes 12

@Jay, yeah that's her - she's a crook.  She no longer returns my calls or texts.  Fortunately, the amount money she scammed me for is a minor annoyance.  What ticks me off isn't the money but my misplaced trust.  

I am actually getting ready to sue her - I'm an attorney by day - for misappropriating my name in her Facebook advertising for her "mentorship" services.  Fortunately, my state allows statutory and common law suits for misappropriation.  Also fortunately, I didn't sign anything to give her permission to use my name or likeness.

By the way, the scammer's name is Iman Yusef aka That Philly Wholesaler.  She's in a few YouTube videos.  She's VERY shady and I recommend anyone run in the other direction if they encounter her.  Again, that's Iman Yusef aka That Crooked Philly Wholesaler.  I imagine she's this way because she's barely scratching out a living as a wholesaler.  She certainly doesn't come across as someone wildly successful at it.

Post: Any SERIOUS cash buyers in PA, NY and NJ?

Ryan IgbanolPosted
  • Wholesaler
  • Philadelphia, PA
  • Posts 24
  • Votes 12

Hey BPers.  As a wholesaler operating primarily in the Philadelphia metro area, I've found SERIOUS cash buyers tough to find.  What do I mean by SERIOUS?  Simply, cash buyers that regularly buy in the area and are actively seeking discounted properties.

If that's you, I'd love to communicate with you one-on-one to learn your buying criteria.  Let me hear from you!

Best,

Ryan

Post: Real estate investor operating in PA, DE and NJ

Ryan IgbanolPosted
  • Wholesaler
  • Philadelphia, PA
  • Posts 24
  • Votes 12

Whoops, that was supposed to be an introduction :)

Post: Real estate investor operating in PA, DE and NJ

Ryan IgbanolPosted
  • Wholesaler
  • Philadelphia, PA
  • Posts 24
  • Votes 12

Hi BP.  Wholesaling to make $$$ and learn loads.