All Forum Posts by: Jose Flores

Hey @Seth Harvell I love abandon properties and bandit signs.  The key is  consistency and focus.  Choose one market channel and be the best at that channel in your area.  Also, make sure that you have a proven, easy-to-follow step by step process that will speed your learning curve dramatically. Bigger Pockets is great for surrounding yourself with like minded people and building a community of peer support. But you also have to link yourself with a mentor or teacher who will help you focus on the 5 skills needed to be a Pro at Wholesaling. They are marketing; estimating repairs; contracting; appraisals; and negotiating.  Good luck.  

Hey @Jason Carter  I don't know about this program but I want to caution you about these type of sales funnels.  A few week ago I spoke with a friend who bought a course with the promise that if he found a property they would buy it. The idea is that the student finds a target property, gets in under contract for no more than 65% of its value, then go on the Gurus website and submit the deal. Upon approval, the company would fund the purchase and everyone makes a tidy profit. Except for one problem... Many of the complaints say that the Guru rarely "approves" any deal. That word, "approval", is their "weasel clause". No matter what you do, they are not obligated to "approve" or fund anything. And don’t!!! It just another way to get you to buy their course and make real estate investing sound easy. Be careful brother.   

Hey @Jelani Tate the approach has always been the same.  I'm always looking for the wholesale deal first and then if I can't get them down far enough to make the wholesale deal work I go for the owner finance structure.  It's how I got 95% of the houses in my portfolio.  It's really that simple and it will make you a wealthy man over time.  

Hey @Dave Knott congratulations!!  If you have a few houses to put under contract you have accomplished the hardest part in this business, which is finding deals.  Now to answer your questions I would recommend that you find a real estate agent in the area you are wholesaling and ask for an electronic copy of the contract they use.  Why?  Because 85% of all the real estate tractions in that area are being completed with that contract.  All attorneys involved will be familiar with it and all cash buyers will have seen it before.  This will build instant credibility and move the closing faster. Now many of these contracts have an other terms section in the contract and this is were you will put your out clause (i.e. Partner approval: Buyer’s obligation to close this transaction is contingent upon approval by Buyer’s partner of the condition of the property, as well as all terms and conditions of this contract.). As for another buyer coming in the back door I have not seen that type of protection explicitly stated in a contract or addendum.  Hope this helps.  

Hey @Account Closed I use the same contract however I remove my out clauses and increase deposit to 2k due at signing.  Also, I use the same contract all the real estate agents would use.  Attorneys are familiar with them and investors see them all the time.  Increases credibility and moves deals faster.  Good luck.  

Hey @Rosemarie Ledogar I have listened to his podcast and I think he does a great job explaining wholesaling.  However, I have not bought his course.  What I look for in my real estate education is systems; scripts; checklists; contracts; and processes.  It needs to feel like a  franchise.  Something I can turn key and need no other resources to execute a plan.  Also, most  credible training programs have free materials that you can sample.  And their Free materials are a sample of the paid course or membership. If their Free stuff doesn't "wow" the paid version will not. Next, is there ongoing support. Is their monthly coaching calls; can I text or email questions and expect a response fast; can you review my marketing; scripts; or systems and provide feedback?. These are important features you want. Last, am I in a continuous sales funnel? The last thing you want is to buy a service to get trick into buying a more expensive version and then tricked into buying a even more expensive add on. Just be careful and do your homework. Hope this helps.

Hey @Jose Gonzalez the short answer is faith brother.  To believe in things you can't see right now.  To know that we are not tied to our current circumstances, we can grow.  Link yourself up with a teacher or mentor that will help you.  Read the Total Money Make Over by  Dave Ramsey to get you budget in place.   Create before you consume everyday.  That means every morning I writes 25 yellow letters to abandon properties; or I hang 25 bandit signs before I look on Facebook; read a blog post; listen to a podcast, or look for other book to read.  

Hey @Account Closed congratulations on your first deal.  Here are some ideas to get it in front of some cash buyers.  First, post it on Craigslist.  Create mulitiple accounts to always keeps it on the first page and call For Rent ads on Craigslist and ask if they are interested in buying more houses.  Second,  call other wholesalers "WE BUY HOUSES SIGNS" and offer them $500 if they bring a cash buyer to the table. Third, call real estate agents and tell them the exact same thing you told the wholesalers.  Last, show up to any local public house auctions and let as many people there know you sell dirt cheap houses.  Good luck.  

Hey @Jose Gonzalez don't let your current circumstances prevent you from starting to invest in real estate.  I was divorce and 25k in debt when I started wholesaling houses.  Second, learn has much as possible about the 5 skills needed to be a Pro at real estate investing. They are marketing; estimating repairs; contracting; appraisals; and negotiating.  Then spend 80% of your time marketing.  Last, my favorite entrepreneur book is Ready, Fire, Aim by Michael Masterson.  

Hey @Account Closed Here are a few suggestions to get you thinking. First, learn the process which could be explained in these simple steps:

Step 1: Market to motivated sellers

Step 2: Sign purchase contract with the seller

Step 3: Find cash buyer

Step 4: Sign contract with cash buyer for a higher price and collect 2k deposit

Step5: Close Transaction via Assignment or Double Closing and Collect your check

Second, learn has much as possible about the 5 skills needed to be a Pro at wholesaling. They are marketing; estimating repairs; contracting; appraisals; and negotiating.

Last, spend 80% of your time marketing.

Hope this helps. Good luck.