All Forum Posts by: Winston Spence

I am looking for a live answering service to take my calls. Is helloblair.com a good company. If so, let me know your experience. If not, what live answering service would you recommend?

Thanks!

@Sarah Jones 

DISCLAMER: I am in no way giving you legal advise to follow, just an idea.

Did you ever consider putting the property in an LLC?

@Jon Holdman @Account Closed @Account Closed 

Is it too late for her to put the property in an LLC? Just a thought

@Michael Quarles , and @Jerry Puckett would help every new investor out. Can't wait to hear it!

@Michael Quarles 

I know this is off topic but I heard a podcast you were featured on: Real Estate Mastery Podcast. And you was going over your business model of how you make offers with motivated sellers, it was something I never heard before. You exclude using the ARV because your not rehabbing the property which makes, but I can't wrap my head around how you get the numbers to make an offer. I think you said something along the lines of if a property as-is value is $100K, you either take off 25% or $52K which I don't get. The part that does make sense is putting back on the MLS at the as-is value meaning you are crushing mostly every deal you wholesale.

I just have a few questions to ask: how do you come up with the as-is value of a property? Do you use an inspector, comps of recently sold as-is properties, etc..? After, how do you come up with the 25% off or $52K? Is that to cover the expenses such as a realtor, contractor for estimates, etc..? Then how do you get your offers accepted? I think I heard you say something about not letting the buyers into property unless you agree on a price.

Apologize for all the questions as this is a formula I never heard of. If you can go into depth on how you use this formula it will be greatly appreciated. I personally think this can really benefit my business which is getting stagnant.

@Michael Quarles 

What message do you include in your postcard to get results?

Does anyone use a different color besides yellow for their direct mail? And what is your response rate? I should have asked this question instead.

From reading the forum and understanding what other investors are doing to get responses from direct mail. It seems like a majority of members on BP are using yellow letters. Yellow letters seems to get a higher response rate then a postcard, but a postcard is cheaper allowing you to send more. My question is if a high majority of investors are using yellow letters, wouldn't it be idea to try something different. Any members on BP use anything different besides the standard yellow letter and got results? Please share so other new investors don't waste money doing what other are already doing. Thanks!

@Shawn Mcenteer 

Not true at all, lost deals because of this. One of the biggest lies in wholesaling.

@Kyle Gray 

Start with the finding the buyer first. You have to find out what they are looking for so all you have to do is match the property with the buyer. If you do get a property under contract with no buyer and no buyers are interested in your deal, you will be stuck in no man's land and possibly lose your earnest money. Happened to me twice.

@Luis Saez 

I read articles that New Haven has some of the lowest vacancy rates in the country. As in any market, it depends on how much the property was purchased for. The lower the purchase price the higher cash flow you will receive and vise versa.

As @Michael Noto said, 2-3 families properties in our state tend to cash flow more

@Darren Nichols 

Where did you get your signs from?