All Forum Posts by: Johnny P.

I was planning on putting out 100 signs last weekend but got rear ended by a drunk driver and only got 8 out. They say "CA$H 4 HOUSES" then my phone number. They are hand written on both sides using a magnum sharpie. We put them everywhere... Mainly at busy intersections.

So far we have gotten 3 calls, one is a great lead and we have an appointment tomorrow with the homeowner.

I would recommend using a google voice number since they are free and very hard to track back to you ( less worries of getting a fine). Ive put up over 600 signs in my area and never gotten a fine

I just read this 12 page pdf because someone else posted it on their blog. Its good until you realize CoreLogic is pitching their company and services. They spend the entire time talking about the "1.87% of short sales with unnecessary loss".... a loss that can be avoided with their product haha :crazed:

Has anyone successfully closed a wholesale on a property that was originally a short sale? Meaning a realtor was negotiating a short sale for a homeowner, you ( the wholesaler ) submit an offer to the realtor, it gets approved by the bank, and get the property under contract. Then find an end buyer and double close.

If this was possible it would give wholesalers many more properties to target ( at least in FL ).

I heard a lot of hype on this "new strategy" which ended in pitching a $500 course (figures). I look forward to hearing your thoughts / ideas.

Steph I know you have this course! Have you closed a wholesale this way?!?

go on craigslist, real estate for sale, and type in "cash" .... you will find all of them :lol:

WOW...I'm going to have to disagree on this. Its easy to get a POF because the transactional funding companies WILL give you the funds if you have the A-B & B-C contract. If you can't find a buyer within your inspection period you can either cancel because of that, or let it ride and try to find the buyer within 30 days. If you fail to find a buyer you either bought too high or didn't put enough effort into finding a buyer. However, I believe a new investor can go this route to start their real estate career and not "leave it to the real investors". Now of course you want to do everything in your power to close the deal, but worst cast scenario you are losing your 1k and burning a bridge. If you do this it will be much more difficult to get properties under contract in the future, but with effort it can be accomplished. Isn't wholesaling the most common strategy for new investors???? Even if you bird-dog a few deals to get your feet wet how many are you going to have to do until you can "be a real investor" and close with your own funds? If you did have your own funds why would you buy something that you couldn't sell in 30 days? That should be a tell tale sign that its not a good deal!

Old Thread......but

Yes you can get a proof of funds letter very easily which allows you to make a CASH offer. Once you have a contract with the bank as well as your end buyer, you should have no problem finding transactional funding. You need to make sure you have an investor friendly title company that is capable of doing double closings or hopefully a simultaneous close so you don't have to bother with funding at all. But finding the title company is the hard part.

What state are you in? First, find a good title company that can do double closings. Put it under contract with the seller, then the end buyer, and get transactional funding. Make the 8-11k spread minus your closing costs. This will also keep the end buyer from knowing your spread. Hope this helps.

Whats your plan for marketing to these leads and what info. is provided. Will you be sending mailers / door knocking / cold calling ?? Sounds like a great list to have.

Doesn't sound like a great person to work with. The whole thing about him paying 40k for a failed load mod sounds like a joke. This guy is obviously a liar and totally unmotivated to save his credit. Even if you get the ball rolling he will probably be impossible to work with when you need his participation in the future.

I would tell him you can pay him 3k ( or whatever you choose ) for each REFERRAL he sends you in the future... but he can't profit from the SS of his property.