All Forum Posts by: Xavier Nguyen

It's a viable idea, the devil is in the execution. 

1. Every homeowner is bombarded with "we buy your house" junk mails, text messages, spam phone calls every day, so how are you differentiate yourself from a million other wholesalers in the market?

2. Most people work with real estate agents that's what they know and it's a regulated industry. Wholesaling is a wild west, if you work with people you trust, fine, but there are also bunch of scam artists/liers out there, the less sophisticated buyers can get hurt easily if they don't know how to screen wholesalers

2.5 same as every other contractors, handing out flyers, door knocking. The key is repeat business. Consistent quality that makes the customer happy, within their budget, and make you money, how? Are you gonna have your own employees you can control or do you just sub it out to contractors who may or may not show? now you have people just call you, complain...

3. How do you quality control the contractor? The good ones charge good money, cheap ones don't show up or do good work. So you are basically being a contractor and how much spread are you making?

4. Assume it's a $30 lawn cut job, how much are you charging the customer and how much are you selling it to the contractor? Is it worth the money for you to be responsible for a job and only make a small percentage? What's your license and insurance to allow you to do the contract legally? How and when are you and your contractor get paid? Again, contractors also get called from people who sell leads too, so how are you different than the rest? Are you charging less per lead? or do you get paid a percentage when the contractor get paid? 

5. So just like every wholesaler out there. 

6. just like every wholesaler out there.

7. It's called assignment of contract and get an assignment fee. same thing

All in all, it's a wholesaling game with a little extra services thrown in. The execution would be the same as wholesaling. 

One of my wholesaler friend is doing this but instead of trying to make money on the service side, he genuinely does it to help out the seller and not upcharge anything or even invest his own money if it's something small like clean up the property. 6-12 months down the road, he builds a good relationship with the seller and gets to buy the property from the seller. I feel like his way feels more genuine and viable than your idea proposed. 

 Here is where you are wrong.

1) BP is absolutely not a great place to learn.

People here disguise mere opinion as fact. People trow and dress up opinions as if they were undisputed facts backed by data. It is laughable.

Courses themselves are not bad, and they are not good. A good course is good and a bad course is bad. Are you going to say college is bad? Or an education is bad? No right?

Yes there is a ton of information out there for free, but who said that information is correct? Same with courses. Usually, courses are created based on the experiences or opinions of the people who create them. I have YET to see a SINGLE course that is based on data. 

Let me give you an example.

Sedding 1000 mailers to the foreclosure list gets you one deal yes?

Yes.

OK

that is a 0.1% conversion rate. That means 999 people of the 1000 said "Get lost" to you.

What does the data say? Foreclosures are a terrible audience to go after.

What do ALL THE FRIGGIN COURSES SAY? Send more mailers to the foreclosure list.

It is just dumb and stupid.

@Jay Hinrichs wow, really? Lots of minorities so I guess white people dont live in the lower socioeconomic neighborhoods. By virtue of being the majority I'm pretty sure there are more areas for wholesaling with white Americans than minorities. 

Also as a broker do you really wanted say such a clearly racist generalization? 

As someone who's been an investor for a little while I can tell you that race has nothing to do with it, how about financial circumstances matter more. Just tied up a wholesale deal in 22207 look it up and you tell me how many miniseries live there? You sir are full of 🐂💩.