All Forum Posts by: Walter Roby jr

If you focus on the sellers needs and come to agreement on terms, inspection, and price, get it under contract via snail-mail, email, docusign then have an escrow company or attorney assist with the rest.

You can certainly wholesale from out of the country, its called virtual wholesaling. Just connect with resources in the area (ie title, escrow, attorneys, wholesalers, investors, agents) and work together with them. Unless you already have all the resources don't be afraid to utilize other wholesaler's resources

If you focus on building a buyer's list on finding out what each investor wants, you will find that there are some who will accept smaller margins. For example I met investors who need a minimum 35k profit on a house with ARV 600k Their strategy is to use leverage so their ROI is higher and they can get in and out in less than 45 days, rinse and repeat. In my market for A class areas I use 90-85%% less repairs but that's because that works for some investors but not all.

I have an attorney in Sherman Oaks that I use. PM me for details

Call them. Find them on Facebook and message them. Call neighboring property owners. Visit them in person.

TruePeopleSearch.com

Send me your email I have a great resource

I always try to defer all sales to an agent and if they truly dont want to do that then find out why and gauge that motivation. Only then do I decide whether to continue pursuing a lead if I can help solve their reason for motivation.

My wholesaling business is picking up here in Los Angeles. It seems like you have more than enough knowledge to start getting your feet wet with wholesaling. My advice when getting started wholesaling here in Los Angeles:

1. Only listen to Wholesaling Podcasts (3 hours a day). (Flip2Freedom & Wholesaling Inc are my favorite)

2. Find an Attorney who knows exactly what you are trying to do. (PM me and I can shoot your a referral). They will provide the only 2 contracts you need, Purchase Agreement and Assignment Contract.

3. Call Escrow companies and find out who double-closes and who assigns.

4. Build a massive buyer's list (150+ to start) very easy to do in LA.

5. Go get a deal. Cold Call (aggressive-offense & cheap), Direct Mail (expensive & passive), Social Media (medium cost and efficient).

6. Dont worry about loans, taxes, or anything else until you get a deal. PERIOD.

Progress not perfection.

If you get through those steps and it is still not clicking for you but you are still committed to wholesaling, get a mentor. They will get you in check.

House hacking in our market is my favorite way to get your investing off the ground. Then you start to get your toes wet with mailbox money and managing others.

Your best bet is to seek out the advice of both an attorney and a tax professional in your area. Have you considered trying to sell it? I am sure an owner finance deal with a down payment albeit small, would attract people and it may make sense to someone you would never expect. Reach out to your local wholesalers and agents for help. Or let me know if I could be of any help.