All Forum Posts by: Andy M.

I got fired in 2003. My dad was pretty worried about me having that on my resume. :) haven't looked back since. Of course I was making more in real estate than I was at my job when I got canned.

Danielle, now that's what I'm talking about! Anyone else?

Anyone? :)

Hi Rich. I'm in Salt Lake area. You ever do business up here?

I haven't noticed a lot of people from Utah posting.

Steven, I did my first deal when I was 23, in school, and working. If you truly have the desire it will happen. Looking back on that first deal now I would do it different, but I got it done and learned a lot in the process.

Educated yourself on how to find the deal and then get out there and start looking, talk to sellers, advertise, etc. I understand that finding the money for a deal is a big deal to most people starting out, but don't get hung up on it. I promise you if the deal is a deal you will either find the money from an investor or you will be able to get it under contract and sell it.

This business works. how bad do you want it? Are you willing to sacrifice and do what it takes?

Depends on the deal. Generally buyers don't like deals off the MLS because they may have already seen it. If you can explain to your buyers why it is such a great deal then you can still wholesale off the MLS.

Example:

REO property is listed as under contract on the MLS, suddenly it comes back active again after 30 days or so and there has been a big price drop. If you happen to be the first offer in after the drop and the bank counters you first or puts you under contract then your buyers would see that you were just in the right place at the right time. Makes sense to me, I'll pay you for that if the deal still works.

I don't know that I would put it that way to a lender... I've always just supplied them with a list. It's a game lenders play now so sometimes it is easy to play along. If you are getting things really cheap or doing the work yourself why don't you just supply a list of what it would cost someone else to do it?

I agree with Manny, I hate email blasts. To impersonal. I would rather here from someone directly, at least that way you will know why they are or aren't very interested. You will learn a lot more and start to build relationships. That said, once you are established in the business and people know your deals are for real then an email blast might get you multiple interested parties and a highest and best situation.

You know your a true wholesaler when you get repeat customers. I have a huge buyers list but I never get past the top 3. I have about 3-4 people who call me pretty frequently asking what I'm working on and if I have any deals.

"You can shear a sheep many times, but only skin him once."
-Amarillo Slim

There is enough money in real estate that you don't need to make it all on one deal. Give people a good deal and treat them like you would want to be treated and people will take you seriously. When someone sends me a couple bad deals I don't take them seriously any more.