All Forum Posts by: Johnny P.

Message me and ill send you all the paperwork when I get back to my computer.

PS go for more than $100!

I have heard of some parks offering to pay to get the MH moved into their park. They realize that it will probably not ever leave once its there.

Most people do lonnie deals in parks that they don't own.....Thats the whole plan. Find a cheap one from a motivated seller that doesn't have to be moved, buy it cheap & sell it will owner financing...

I agree with Chris.

Here is how it goes for me

Me: Can you tell me about your property and why you need to sell

Seller: blah blah blah my house is great blah blah i need to sell fast for a random reason.

Me: What is your asking price

Seller: 55k

If this sounds like a good priced home that I can wholesale I continue the convo, if not I save their info and call them again when they become more motivated to sell.

Me: Is the home listed with a realtor

Seller : no its not (if yes then bye bye from me, save info and call if listing expires)

Me: ok great, when would be a good time for me to come view the home

After driving to the home & building rapport with the homeowners.

Me: Whats the lowest you would accept as a cash offer that can close in 2 weeks.... then I negotiate a price with the homeowner.

Seller: Well I only owe 50k on the mortgage so I would take 50k cash

Me: Ok that sounds great, i will not be purchasing the home myself but what I can do to help you out is put this property under contract so i have equitable interest in your home. I will then spend MY money to market your home and will also show it to my cash investors. I have a ton of friends who are buying properties right now to buy and hold as rentals, so I will mark up the price and sell it to them if thats ok with you.

Seller: Sounds great

If seller says "but what if i find my own buyer, I don't want to be stuck in a contract with you if I sell it on my own"

Me: Well thats not problem at all, we can just sign a simple one page addendum to the contract that states my contract is only valid if MY COMPANY finds the buyer, so if you sell it buy yourself I will happily rip my contract up.

Seller: Ok thank you so much for your help

Me: start blasting the property on CL, e-mails to my cash buyers, and go crazy with bandit signs.

This is for wholesale leads only, the conversations go much differently if the homeowner is behind on payments or something of that nature.

Hope this helps!

Terry,

Normally when selling a house I get anywhere from 10-60 calls depending on the price. I've found that cheaper = more calls.

When putting up "we buy houses" bandit signs i get anywhere from 5-15 calls.

Ok this is why we are assigning the contract....

Why is a realtor involved?? You should be dealing directly with the homeowner as an investor. Unless you are bidding on REO's which are not assignable anyways. Here in FL it's as simple as checking a box on the Far Bar As Is contract that says "Buyer may assign and thereby be released from any further liability under this contract"

Everything is out in the open, there is no "side deal" - the seller knows your intentions and is grateful. The buyer also knows exactly what is happening when they sign the paperwork saying " I agree to pay an assignment fee in the amount of $5,000 to {insert company name} etc etc etc"

HONESTY WORKS PEOPLE, stop thinking you have to do something sketchy to make money!

Don't double close unless its an REO, why pay for transactional funding ( assuming you can't bring the funds to the table) when you can just assign the contract. ITS SO EASY A CAVEMAN CAN DO IT!!!!

I'm going to have to disagree with putting them up on thursday. I prefer to put them up friday any time after 4pm, since this is when the city workers are off. You wouldn't want to put them up Thursday and have them all taken down on friday... but this still does not guarantee they will make it through the weekend.

I choose to put them up every Saturday @ 3 am so there is no traffic and I can put a bunch out. Main roads and busy shopping centers work for me.

Since you are marketing for motivated sellers and you plan to wholesale the properties you don't want to put the signs up in the upscale areas... won't be wholesaling too many expensive houses. I target areas where the homes are in the 50-90k range and BLANKET the entire area. I'm talking 100 sings and put up 4-8 signs at every intersection. Normally takes me 3-4 hours to really crush it, but its well worth it.

Dont double close unless you need to, the closing costs will obviously cut into your profits.

Yes both parties know whats going on and that its being marked up.

Welcome to bp, im glad to see more investors from FL!

There must have been more to the story... 400k per year wholesaling sounds a tad bid high :)

i pay .66 for each blank sign just to give you an idea of price. I buy from a local company