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Author Topic: Understanding my wholesaling contract...  (Read 15019 times)

Offline Redstar1324

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Re: Understanding my wholesaling contract...
« Reply #15 on: April 30, 2016, 06:58:51 am »
Hi,

     I think Rando would agree that Craigslist can be better or worse depending on the market area, I am sure even today we could find very poor response area's of our country and very good response area's. When I was wholesaling in the 1990's I was acquiring properties in Kansas City, Detroit, Kentucky, West Virginia, Georgia, St. Louis, Ohio, etc.

The average home was between $20k and $50k and I averaged about $5k per sale assignment. I got way more deals from direct calls on my ads, whether they were bandit signs, advertising, radio, door hangers, cards on windshields, etc. to buy homes. Just because a bird dog see's a home with issues does not guarantee the owner even wishes to sell.

I was putting 3 or 4 or 5 ads a day on craigslist, backpage, running thrifty nickel ads, placing news paper ads, putting inserts into local advertising by zip code and trying to piggy back on special events, etc. If you place an ad at 7:00 AM in a big market area it is buried by 12:00 noon, so placing multiple ads under multiple email addresses is important.

I also did not use my personal cell phone number, at the time I had a Nextel phone with two lines, one personal and one business. Today you can get a phone number on the web and direct it to your cell phone. You also want to word your ads to target a larger audience: "Having financial problems? Have a home needing TLC you can't afford? Have medical issues and need cash? Had a death in the family and need to sell fast? I buy homes in any condition! Call 1-800-Redstar  Right Now!  Look for the big red star on the side of my car! Get the best deal under the stars!

By the way my examples above are for multiple ads, not intended to group all of them together in one ad!

If a house will not pass a home inspection, termite report, has a lot of deferred maintenance, has a lot of trash and litter, shows poorly, is not in good condition and the owners can't afford to repair / update they will sell you there house without a realtor as a realtor won't take the listing!

I get emails daily from wholesalers in Florida with new inventory every few days, there are lots of opportunities in Florida!

I agree with Rando in the sense that you don't put all your eggs in one basket, but trying to rely on a bunch of bird dogs only is a huge mistake as I don't know what your offering bird dogs but just because you interview them does not guarantee results. I would never tell you to rely solely on Craigslist but if your marketing and advertising through 15 or 20 different platforms or types of marketing you will find good results.

I used bird dogs, bandit signs, ads on 5 or 6 different web platforms, I put up flyers, placed door hangers, put cards under windshield wipers, piggy back advertised with the county fair, I ran a radio ad a few times a month, placed news paper ads, sent flyers to bankruptcy attorney's, sent flyers to divorce attorney's, sent flyers to accountants, sent flyers to realtors who might find a property they can't list because of condition, I sent flyers to court trustee's, I made sure that I put cards on cars at the unemployment office, I put flyers / cards at the funeral homes, I put cards / flyers in the hands of pools maintenance companies and lawn care companies to alert me if there servicing empty property.

I sent flyers to mortgage lenders who might refer someone who can't qualify to refinance, I piggy backed as a sponsor of the grammar school fair, I sent flyers to the death, divorce and bankruptcy records in my area's. Etc, etc, etc, etc, etc.

Now I just took Rando's rain and grew deep green hundred dollar bill flowers!

Now go make some money!


                          GR
                       



 







What do you think of my Craigslist ad?

http://orlando.craigslist.org/rts/5563147438.html

I'm making a FaceBook page. Do you think I should have a better business name than "We Buy Houses"... or "We Buy Junk Houses?"

I saw an advertisement spot on a bench close to a Wal-Mart. I haven't called to see how much it costs, but I'm also not sure how much is too much to spend on advertising before I even get anything started.

I will stop my bird dog recruiting and focus more on the advertising. I have to wait for my 50 bandit signs to come in the mail.

You said that there are more wholesale transactions than fix and flip transactions. Who else do wholesalers sell to other than those that fix and flip?

Also, how did you wholesale in other states? How could you even see the house to know what needed to be repaired? Did you have bandit signs in other cities? Did you pay someone to put them up?

What do you think of my escape clause?

"AS IS” and INSPECTIONS
This contract is contingent upon the Buyer's inspection and approval of subject property prior to transfer of title. The Seller agrees to provide access to the subject property to the Buyer's representatives, with power and utilities on, prior to transfer of title. If accepted, property will convey in "AS IS" condition. If not accepted, Buyer will notify Seller within 21 days from the date of this contract.

The only thing that worries me is that they might think that my inspection is the inspection that I'm referring to. If I understand the process correctly, it is the inspection of the people that I'm selling to that is what matters. Also, if all goes well, wouldn't I be having about 10 people inspect their house if that's how many people out of my 100s of buyers are interested in it?

I know a lot of these questions will be cleared up once I start actually doing it, I'm just trying to be prepared.
« Last Edit: April 30, 2016, 08:31:33 am by Redstar1324 »

Offline Gold River

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Re: Understanding my wholesaling contract...
« Reply #16 on: April 30, 2016, 08:29:44 pm »
Hi,

     I would not give up on bird dogs, just try to handle a few while you get going and don't put all your eggs in one basket!

I would try to talk more directly to people, let your ad come from your heart. Your here to help solve problems for people, you want to help them help you, and you want to resolve their house problem!

Your company name can be anything, it does not require "Home Buyer" in the name at all! Alligator Hunter, LLC. buys homes! Orlando Mouse Lover, LLC. buys homes, Fountain of Youth, LLC. buys homes, Treasure Hunter, LLC. buys homes!

Get your first deal then apportion some percentage to go back into the business and advertising. I will buy wholesale homes and directly sell them to an owner occupied buyer without doing one thing to the house! An investor will buy wholesale homes and make them rentals without doing a thing to the house! A home buyer (Retail Owner Occupied) will buy a home wholesale and move in without doing anything to the house!

I was buying / contracting homes and reselling them to investors. I had connections who worked with me in each state and I would go into each state every couple of months to know and understand the market and get a sense of home conditions in the market range I was buying and selling in!

Your contract needs to include everything that would be required for a conventional, FHA or VA loan. You need a house inspection scheduled, you need a termite report scheduled and you need an appraisal set up for access!

Subject to physical inspection by buyer and approval of buyers principle partners within 21 days! This gives you 21 days to convey over to a buyer by assignment!

Remember when you assign the contract you still need to orchestrate the inspections and loan approval if necessary so the thing closes, you can't just assign the contract and walk away as without your work to juggle demands and fulfill requirements most won't close! Your going to have to make sure everything comes together and closes!

Your contract needs to have everything required for inspections for any type of loan, you don't know if your buyer will want to use conventional, FHA, VA, Hard Money or Private Money or Private Investor Money to close, and you can't make a contract convey in "As Is Condition" when Conventional, FHA and VA won't allow borrowers to except the property "As Is"!

If you know your market and your buyers know your market there not going to have a hard time with the property if you bought it right, if your contract price is too tight for the market you will have a hard time selling the property. Remember it will cost your buyer 11% just to close from you and resell to another party, this is before the front door lock is changed and the water and electric is turned on.

Rule of thumb is you buy a pristine home (Move in Ready with no differed maintenance and updated in the last 5 years) for 70% LTV, any deferred maintenance, repairs, yard work, remodeling, fire damage, water damage, etc. is deducted from 70% to make your offer.


               GR

Offline Redstar1324

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Re: Understanding my wholesaling contract...
« Reply #17 on: April 30, 2016, 08:43:25 pm »
Hi,

     I would not give up on bird dogs, just try to handle a few while you get going and don't put all your eggs in one basket!

I would try to talk more directly to people, let your ad come from your heart. Your here to help solve problems for people, you want to help them help you, and you want to resolve their house problem!

Your company name can be anything, it does not require "Home Buyer" in the name at all! Alligator Hunter, LLC. buys homes! Orlando Mouse Lover, LLC. buys homes, Fountain of Youth, LLC. buys homes, Treasure Hunter, LLC. buys homes!

Get your first deal then apportion some percentage to go back into the business and advertising. I will buy wholesale homes and directly sell them to an owner occupied buyer without doing one thing to the house! An investor will buy wholesale homes and make them rentals without doing a thing to the house! A home buyer (Retail Owner Occupied) will buy a home wholesale and move in without doing anything to the house!

I was buying / contracting homes and reselling them to investors. I had connections who worked with me in each state and I would go into each state every couple of months to know and understand the market and get a sense of home conditions in the market range I was buying and selling in!

Your contract needs to include everything that would be required for a conventional, FHA or VA loan. You need a house inspection scheduled, you need a termite report scheduled and you need an appraisal set up for access!

Subject to physical inspection by buyer and approval of buyers principle partners within 21 days! This gives you 21 days to convey over to a buyer by assignment!

Remember when you assign the contract you still need to orchestrate the inspections and loan approval if necessary so the thing closes, you can't just assign the contract and walk away as without your work to juggle demands and fulfill requirements most won't close! Your going to have to make sure everything comes together and closes!

Your contract needs to have everything required for inspections for any type of loan, you don't know if your buyer will want to use conventional, FHA, VA, Hard Money or Private Money or Private Investor Money to close, and you can't make a contract convey in "As Is Condition" when Conventional, FHA and VA won't allow borrowers to except the property "As Is"!

If you know your market and your buyers know your market there not going to have a hard time with the property if you bought it right, if your contract price is too tight for the market you will have a hard time selling the property. Remember it will cost your buyer 11% just to close from you and resell to another party, this is before the front door lock is changed and the water and electric is turned on.

Rule of thumb is you buy a pristine home (Move in Ready with no differed maintenance and updated in the last 5 years) for 70% LTV, any deferred maintenance, repairs, yard work, remodeling, fire damage, water damage, etc. is deducted from 70% to make your offer.


               GR

I will change my contract to say that.

I'm still just waiting on my bandit signs to come in the mail.

I got a message from another wholesaler today, but they are just wholesaling too.

I do know that I once sold a piece of land and wrote my own warranty deed (could have used the sample from the county clerk), and it required no title company. I don't think it will work out that easily this time.

The first time will be the learning curve.

I'd be happy doing one house per month, but 7 would be great.

You seem so much better at everything than everyone else. You're one of those guys that makes everything look easy.

Offline Gold River

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Re: Understanding my wholesaling contract...
« Reply #18 on: May 01, 2016, 03:14:33 am »
Hi,

    I was lucky as both my parents are college educated and had started investing before I was born. When I was maybe 5 years old I remember walking through a big public works project with my dad, the tractors and cranes were my favorites, but I pretty much had all the Tonka toys as a kid. That first trip to a job site was enough for me to know it was kind of cool and I liked what I was seeing, from that point my dad took every opportunity to teach me and instill in me those professional secrets passed from father to son!

By the time I was 8 years old my mom was a real estate broker, she was really good at real estate and had an uncanny sense of market and potential. My dad diversified into development by the time I was 12 or 13 years old, the land development and building / home development was really making an impression on me. I was learning contracts, scopes of work, schedules and basic engineering by the time I turned 12.

I worked summers for my dad cleaning up job sites from age 12 to 18, I knew more than most people twice my age by the time I got out of high school. When I got my drivers license I used to work after school and weekends during the school year, I knew my parents were big investors when I was young and a lot of the same principles go into development that go into real estate investing.

I saved a lot of money during my Jr. high and high school years, in fact I remember when minimum wage was $1.35 per hour. Being raised and mentored by two professional people who understood and practiced there business in construction and real estate gave me a huge foundation to build from. My dad liked the idea of education so we went to seminars as often as possible to learn creative real estate, we bought just about every learning package available in the early days.

In fact in the early 1980's in southern California there were 3 day real estate conventions where you could pick the classes you wanted to attend and what you'd like to learn and what real estate guru you wanted to learn from? I think Russ Whitney was only like 25 years old when he was participating at the Disney Land Hotel convention I attended. Carlton Sheets, Dave Del Dotto, Jack and Irene Milan, etc. I had a great education in creative real estate and mentors who taught me as they did there deals.

By the time I jumped in with both feet and bought my first property I already had the knowledge to read and understand comps, work through my contingencies, close my transaction and work out a plan for remodeling the property. I was carrying 12 units at college this first year and working full time in the construction industry around my class schedule, studying and working on this first property. I don't remember getting very much sleep that first couple of years but I managed to get through it.

Probable the biggest thing I have learned is to apply myself, work through problems and don't give up! This is probable why I have a strong real estate and construction background and it helped to have a father and mother doing what they taught, I had a grandfather who was a painting and remodeling contractor in the 30's through 60's so I kind of had construction in my blood!

I have been fortunate and blessed to have the knowledge and experience given to me during my youth!


                                GR
« Last Edit: May 01, 2016, 03:23:45 am by Gold River »

Offline Redstar1324

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Re: Understanding my wholesaling contract...
« Reply #19 on: May 01, 2016, 07:19:28 pm »
Am I just being impatient?

I have posted a total of 4 ads on Craigslist with no response other than another wholesaler.

My bandit signs have not arrived yet.

Should I be bird dogging myself?

Offline Gold River

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Re: Understanding my wholesaling contract...
« Reply #20 on: May 01, 2016, 11:14:14 pm »
Hi,

    Real estate is a numbers game so you have to do everything you can to increase the numbers. Today was Sunday, I would have laid out 10 cards per 8.5 x 11 sheet of paper, I would have bought some colored paper at Walmart, Target or Office Max. I would have printed and cut out these cards on some bright colored paper and taken them somewhere and put them on cars and doors.

To place a card on a door use blue painters tape, it won't damage woodwork or paint. In a lot of cases you may get a printer to make and cut these for you cheaper than you can print them yourself! Did you make a list of divorce attorney's today? Did you put some ads on Backpage, yellow pages Orlando online, Orlando free classifieds, floridasads, Orlando Online, Orlando Sentinel, Orlando 4 Sale, Orlando Super Ads, Buy / Sell Community, Pure Local, Florida US Free Ads, Grudd, Orlando Weekly, Orlando Lancanto, Recycler, 1st Orlando Guide, Florida Boat Ads?, Classified Ads, Quik Ads, Domestic Sale, Ads In USA, Orlando Florida Ziply, Flyer Specials, etc. (These are all free platforms with the exception of Flyer Specials.)

And you say "But nobody is calling my ad" notice "Ad" is singular not plural, as in I really don't want to work for this but "Show Me The Money"!!!

Do you realize literally thousands of people have to see your ads in order for one person to call you, you can't just sit back and expect the phone to ring without putting effort into it, it just won't happen. It might take 5,000 or 10,000 people to see your ad to get one seller and one contract to wholesale!

I gave you the answer, you might have to work at this for months before you get your first deal, so start forward and don't quit!


                    GR

 
« Last Edit: May 01, 2016, 11:16:59 pm by Gold River »

Offline Redstar1324

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Re: Understanding my wholesaling contract...
« Reply #21 on: May 02, 2016, 04:00:08 am »
Hi,

    Real estate is a numbers game so you have to do everything you can to increase the numbers. Today was Sunday, I would have laid out 10 cards per 8.5 x 11 sheet of paper, I would have bought some colored paper at Walmart, Target or Office Max. I would have printed and cut out these cards on some bright colored paper and taken them somewhere and put them on cars and doors.

To place a card on a door use blue painters tape, it won't damage woodwork or paint. In a lot of cases you may get a printer to make and cut these for you cheaper than you can print them yourself! Did you make a list of divorce attorney's today? Did you put some ads on Backpage, yellow pages Orlando online, Orlando free classifieds, floridasads, Orlando Online, Orlando Sentinel, Orlando 4 Sale, Orlando Super Ads, Buy / Sell Community, Pure Local, Florida US Free Ads, Grudd, Orlando Weekly, Orlando Lancanto, Recycler, 1st Orlando Guide, Florida Boat Ads?, Classified Ads, Quik Ads, Domestic Sale, Ads In USA, Orlando Florida Ziply, Flyer Specials, etc. (These are all free platforms with the exception of Flyer Specials.)

And you say "But nobody is calling my ad" notice "Ad" is singular not plural, as in I really don't want to work for this but "Show Me The Money"!!!

Do you realize literally thousands of people have to see your ads in order for one person to call you, you can't just sit back and expect the phone to ring without putting effort into it, it just won't happen. It might take 5,000 or 10,000 people to see your ad to get one seller and one contract to wholesale!

I gave you the answer, you might have to work at this for months before you get your first deal, so start forward and don't quit!


                    GR

 

Should I be putting my first and last name on these cards?

Just my first name?

Or just the name of a business, like "We Buy Houses," or whatever?

I did register "www.we-buy-junk-houses.com" today.

Also, Orlando Sentinel isn't free. Their cheapest ad is $97. Backpage isn't free, it's a few bucks. I'm hesitant to spend any more money until something actually comes in.

What motivated most of your sellers? Were they facing foreclosure?

Were they looking to sell their distressed property and didn't realize they were looking to sell until prompted by you?

Also, of all the methods of advertising you used? What was the most effective at generating leads?

Also, you said there are more wholesaling deals than fix and flips. How can this be if I'm only buying distressed properties? Every buyer I have on my list is a flipper or another wholesaler. Who else buys them?
« Last Edit: May 02, 2016, 08:07:51 am by Redstar1324 »

Offline Gold River

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Re: Understanding my wholesaling contract...
« Reply #22 on: May 02, 2016, 08:49:24 am »
Hi,

    I just placed in 30 seconds for free on Backpage "Redstar Wants A House" go take a look, but stop feeding us excuses!

It did not cost me a dime and it took me something less than 30 seconds - Under Orlando Real Estate Wanted!

Hey, thanks for posting with us!

 You must click the following link to make your posting live. You also are agreeing to our terms of use by clicking this link:

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 If nothing happens when you click this link, please copy the link above and paste it into your web browser.

DO NOT DELETE THIS EMAIL - you might need this link to move to the top, edit or delete your post in the future.

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IMPORTANT!!! SCAM WARNING!!!
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« Last Edit: May 02, 2016, 09:38:41 am by Gold River »

Offline Gold River

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Re: Understanding my wholesaling contract...
« Reply #23 on: May 02, 2016, 09:29:14 am »
Hi,

     The word "Junk" is probable bad as most sellers don't want to equate there house as Junk and calling someone who buys Junk denotes probable a very low offer on a house that used to be Aunt Margie's who baked wonderful chocolate chip cookies when I was seven years old and had that Mongoose not come out of no where and taken Aunt Margie's life I would not have to sell her home! But don't call my Aunt's home Junk and I don't want to sell it to some man who just thinks it's Junk!!!

Now either you become a wholesaler or you don't become a wholesaler, put in the time and work or don't put in the time and work, it doesn't matter to us, but stop pestering us about things we have answered already at least 2 or 3 times and until you at least have a lead there is no sense posting.

People sell house's wholesale because:

1. Were getting divorced and I want to piss off my soon to be ex wife because her name is not on title!
2. Were getting divorced and I want to piss off my soon to be ex husband because his name is not on title!
3. Mom died!
4. Dad died!
5. The house is in another state!
6. I have a warrant out for my arrest in that state!
7. I have a lunatic ex girlfriend in that state!
8. I have a lunatic ex boyfriend in that state!
9. My dog died!
10. My cat died!
11. My horse died!
12. My cow died!
13. My dog needs medical attention!
14. My sheep needs medical attention!
15. My sister died
16. My brother died!
17. My Shetland pony died!
18. I choked my chicken!
19. My uncle died!
20. My aunt died!
21. I want to sell my house because it's haunted!
22. I want to sell my house so I can go to my crack dealer!
23. I want to buy a motorcycle!
24. I want to have liposuction!
25. I want a new pair of shoes!
26. I need to repair my truck!
27. I want to take my girlfriend to Europe!
28. I want to take my boyfriend to Europe!
29. I want to live in Redstars RV park!
30. I don't want to live in Redstars RV park!
31. My mouse died!
32. I've got cockroaches!
   
« Last Edit: May 02, 2016, 09:39:45 am by Gold River »

Offline Redstar1324

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Re: Understanding my wholesaling contract...
« Reply #24 on: May 02, 2016, 10:24:28 am »
Hi,

     The word "Junk" is probable bad as most sellers don't want to equate there house as Junk and calling someone who buys Junk denotes probable a very low offer on a house that used to be Aunt Margie's who baked wonderful chocolate chip cookies when I was seven years old and had that Mongoose not come out of no where and taken Aunt Margie's life I would not have to sell her home! But don't call my Aunt's home Junk and I don't want to sell it to some man who just thinks it's Junk!!!

Now either you become a wholesaler or you don't become a wholesaler, put in the time and work or don't put in the time and work, it doesn't matter to us, but stop pestering us about things we have answered already at least 2 or 3 times and until you at least have a lead there is no sense posting.

People sell house's wholesale because:

1. Were getting divorced and I want to piss off my soon to be ex wife because her name is not on title!
2. Were getting divorced and I want to piss off my soon to be ex husband because his name is not on title!
3. Mom died!
4. Dad died!
5. The house is in another state!
6. I have a warrant out for my arrest in that state!
7. I have a lunatic ex girlfriend in that state!
8. I have a lunatic ex boyfriend in that state!
9. My dog died!
10. My cat died!
11. My horse died!
12. My cow died!
13. My dog needs medical attention!
14. My sheep needs medical attention!
15. My sister died
16. My brother died!
17. My Shetland pony died!
18. I choked my chicken!
19. My uncle died!
20. My aunt died!
21. I want to sell my house because it's haunted!
22. I want to sell my house so I can go to my crack dealer!
23. I want to buy a motorcycle!
24. I want to have liposuction!
25. I want a new pair of shoes!
26. I need to repair my truck!
27. I want to take my girlfriend to Europe!
28. I want to take my boyfriend to Europe!
29. I want to live in Redstars RV park!
30. I don't want to live in Redstars RV park!
31. My mouse died!
32. I've got cockroaches!
   

I have a showing tomorrow at one of the "handyman," houses I found online.

I'll remove "junk."

I understand that these are reasons why people sell houses, but unless it's too "junk" to list through a realtor, why wouldn't they use a realtor if their mouse died?

I guess it doesn't really matter, though, as long as they're selling it.

Offline Randoskie

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Re: Understanding my wholesaling contract...
« Reply #25 on: May 02, 2016, 12:39:08 pm »
Gold River, are you getting frustrated with this guy yet? These freakin questions never stop, and yea. your right, it is ones we have answered previously. I have sent him a few books, there was enuf info just in those publications for a normal person to run with.
I explained that he needed to do multiple email addresses and ads on CL and that I had 50 going b4 I had some calls and deals. He does 4 ads and wants to know what's wrong. He over analyzes everything, and Wholesaling is such a simple process. 
I want to help the guy but he seems to lack common sense. The crazy part is he's been on here asking these questions for 6 months and he's just now ordered a few bandit signs and placed 4 ads.
He accused me of living in a trailer park and being a liar about the money I was making.
I got a feeling that after he places his 50 bandit signs and places 4 more ads on CL and he doesn't get big results, because we all know that's not enuf marketing to do deals. He's going to blame us, the ones that tried to help him.
And he'll soon be working in that machine shop for 10 buks an hour.
I can appreciate some questions, but holy crapskie, they never stop, doesn't he understand that success takes massive action?
What can we do to help this poor soul and to get him on track and to stop embarrassing himself with these endless common sense questions that never stop??????

Offline Redstar1324

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Re: Understanding my wholesaling contract...
« Reply #26 on: May 02, 2016, 05:04:25 pm »
Gold River, are you getting frustrated with this guy yet? These freakin questions never stop, and yea. your right, it is ones we have answered previously. I have sent him a few books, there was enuf info just in those publications for a normal person to run with.
I explained that he needed to do multiple email addresses and ads on CL and that I had 50 going b4 I had some calls and deals. He does 4 ads and wants to know what's wrong. He over analyzes everything, and Wholesaling is such a simple process. 
I want to help the guy but he seems to lack common sense. The crazy part is he's been on here asking these questions for 6 months and he's just now ordered a few bandit signs and placed 4 ads.
He accused me of living in a trailer park and being a liar about the money I was making.
I got a feeling that after he places his 50 bandit signs and places 4 more ads on CL and he doesn't get big results, because we all know that's not enuf marketing to do deals. He's going to blame us, the ones that tried to help him.
And he'll soon be working in that machine shop for 10 buks an hour.
I can appreciate some questions, but holy crapskie, they never stop, doesn't he understand that success takes massive action?
What can we do to help this poor soul and to get him on track and to stop embarrassing himself with these endless common sense questions that never stop??????

I'm just wanting something to happen, that's all.

I've been posting ads all day.

I've only been serious about wholesaling for possibly a week. Not 6 months.

Trust me, after I get my first result, I'll have a whole new set of questions. Then, after I close my first deal, I'll probably just post success stories.

50 bandit signs is not enough to get results? That's discouraging.

But we'll see what happens...

Offline Redstar1324

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Re: Understanding my wholesaling contract...
« Reply #27 on: May 02, 2016, 06:23:45 pm »
Patience has never been a virtue of mine...

I just went out "bird dogging," again...

I found a few houses. One, they were not interested in selling, the others, I left my contact info and wrote the address down... Which will cost a stamp to mail them a letter...

__________________________________________________________________________________________________________

Made changes - I now have about 15 ads running on different sites and will continue to update them.... also, I'm raising my bird dog rate to $1000/house. Hopefully, people will be more motivated that way. I'm also hiring bird dogs in other cities. I noticed that Gold River made over $1,000,000/year, but he was working in many different major metropolitan areas at once. I think I can do this.

Another question I have is that if Gold River was wholesaling almost 25 houses per month in different cities... There is no way he could have inspected those houses himself. Did you just talk to the owner on the phone and take his word for it?
« Last Edit: May 02, 2016, 09:16:12 pm by Redstar1324 »

Offline mapmakerny

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Re: Understanding my wholesaling contract...
« Reply #28 on: May 10, 2016, 10:01:47 am »
Rando:

Let me ask you a question on how you got stared. When you were placing ads on craigslist, you stated that you were placing up to 50 ads. How many markets did you place ads in 1,5,10,50? Did you do the same with your bird dog systems (markets I mean)?

I have been lurking on this forum for years, but never got serious. Yea, I bought the courses and tapes, but didn't have the motivation (desperation). Now I do cause I lost my job.

I have been reading the posts from both Rando and Gold River and they have given me the motivation to get this damn thing started. Gonna start by setting up a bird dog system that Rando talks about. I even found a program that automates all this stuff.

Now to go make some money.....

Offline Randoskie

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Re: Understanding my wholesaling contract...
« Reply #29 on: May 10, 2016, 11:41:23 pm »
I'm not sure if I understand your question of how many markets did I place my ads it? I Did multiple towns and counties and cities and states, are those dif markets, I thought it was all the same market just dif locations, I'm still blind leading the blind.
I wud only do Craig's List ads if you don't have money for bandit signs and absentee owner  mailing campaigns. I try to keep mine going when I remember, but in 3 years I've only got a few deals from Craig's List. But because I didn't have money and I was desperate, I started placing ads for bird dogs in all the nearby towns, and that paid off big time. Back then I was splitting my profits 50/50 and I still made a killing. But you gotta have the patience of Jobe working with non productive Craig's List applicants.
I luv bandit signs, I havnt used them much and I just got another bad ass kicken deal that's paying out 15 friking thousand. And Last month a bandit sign got me $8,000, and last November 10K and last summer 8K but sometimes I can go 4-5 months and no calls on those signs, something about Spring and good weather gets people in gear.
But glad to hear your ready to get in gear, I was in a desperate situation b4 I made the decision I was going to do Real Estate.

 




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