Orlando and Florida Wholesale Market

Hi,

I am curious since I am wrapped up in the Florida wholesaling market by default, I want to know how many of you are new (Un-experienced, amateur, newbie) wholesalers just getting started in the Orlando or Florida market?

What kind of challenges are you facing and do you really understand how the process works? Are you starting but not getting going?

Difficulty assessing deferred maintenance, repair or rehab costs? Do you really understand the market and the comps?

Are you struggling to find appropriate homes to identify and put under contract?

Tell us anything you think is relevant that would help you?

                   GR

My biggest problem is that I don’t get responses to my Craigslist ads or signs…

Do I really understand the process? I think so… But I would probably learn a lot on the first one…

I think I would learn a lot about accurately assessing repair costs after the first one also… I know a little…

“Understand the market?” Maybe.

I can run comps, but the numbers never work out to a profitable deal… I would never have came up with a 100k - 105k figure in the same area that you did. Mine would have been significantly lower.

I’m struggling to find homes because no one responds to my ads and I can’t find profitable deals on the MLS using Zillow… Plus, my realtor hasn’t responded to me in a while…

Haha, sorry to laugh, I’ve been there, welcome to the real world. Most people wud quit by now.
I explained that you need to run 50 ads on CL, then 50 more and keep renewing, place 50 bandit signs, then 50 more, every week,
Did you think this wud be easy money?
Recruit bird dogs, purchase a list of high equity and absentee owners, mail out thousands of post cards, cruise neighborhoods for junkers, pass out fliers. Then after you do all that, do it again X 100, Get ready to fail, many times, get ready for a sure deal to fall apart right b4 closing, get ready for sellers to change their minds about selling 3 days before closing.
And get ready to cash a few big checks which makes all the crap and disappointments worth it.

Recipe for success–Never give up.

Recipe for failure— Whine and complain, let negative thoughts take over, stop trying, blame the market or the universe, don’t take responsibility for your failures.

I’ll be gone for a few days to Idaho, not to live in a cave, but to purchase a badd ass light sport airplane and bring it back to California, this Okie is gonna have some fun.

Let’s make some money…

Rando

I don’t have time to devote my life to this…

This sounds like a 60 hour per week job…

And I’m not driving around looking for junk houses because I simply don’t want to…

I don't have time to devote my life to this...

This sounds like a 60 hour per week job…

And I’m not driving around looking for junk houses because I simply don’t want to…

If you do mot want to commit…Then maybe you should look for something else to do… :rolleyes

I could just have people put the advertisements for me and give them a cut…

I think rehabbing houses is more my style… I know I could do that an infinite number of times…

If the deals were coming in, that would be another story…

The definition of insanity is to keep doing the same thing and expecting different results…

I posted 50 ads… Got nothing… So if I post 50 more, I’ll get something?

I would have no problem having someone else do this for me…

I am used to staying home all day as manager of my RV park…

The idea of PASSIVE income is that you get to sleep until 2pm, right?

I could rehab a house every few months and that would afford me a Lamborghini…

I already have a 3 bedroom house and a Lexus…

If I was a billionaire, would I be able to afford better food at the grocery store? I already have health insurance…

I’m not willing to sacrifice my whole identity to become “wholesale man,”…

I wake up thinking about other things…

But at the same time, I know people who own businesses that are rarely even there… They show up twice a week and the place runs itself…

I should hire people to do everything for me… Including taking calls… And I should have my bird dogs do more than bring me addresses of vacant properties that require me to mail the owner… They should contact the owner themselves…

Hi,

You will never be successful until you decide you will do the time and put in the effort to be successful. 

Complacency is great if you like where you are, what you do and how much you make. You can do exactly what you do today for the rest of your life and you will have exactly what you want based on that decision. If you managed to save $1,000 dollars this last year, you will have $41,000 based on your age and retirement by the time you turn 70.

You will not get to travel or do those things of your dreams, you will likely pay off your home but because of medical expenses and money required in retirement you will have to sell that house and move into your 60 year old 5th wheel trailer on your RV park. Yes, dad will bequeath it to you when he dies and you will believe your now rich, but because of age and liabilities your RV park is now worth $50,000 for the land.

You will marry once or twice but become divorced over money problems and your children will grow up calling someone else daddy!

You will never become successful believing it is owed to you or someone else will do it for you. You currently have the identity of a man managing a slum RV park with a bunch of drug addict / alcoholic tenants who continue to drag the value down and cause you trouble. Nice girls are not found in trailer (RV) parks, in the movies these girls are referred to as “Trailer Trash”.

Do you like your little 5 x 10 office at the RV park, the unfinished walls, the rotting trim and the poor air conditioning unit that barely blows cold?

Do you know what investing in your self is? It’s putting the time and effort in as long as it takes to make your self successful! It’s not giving up when things get tough, as they say “when the going gets tough the tough get going” and you don’t give up! You go today, this week, this month, this year, this decade, this century; you never ever stop, you never give up and you overcome adversity.

When you give up you waste all the time and effort you made, success might be right around the corner but when you quit, you will never know! You will have lost the time, effort and resources you put into the process.

You can not rehab houses because you don’t know what your doing, you can’t properly estimate and project proper numbers for tradesmen and materials and you could never buy the proper property because you have no ability to find a wholesale house or to judge finished value!

Your reputation as a multimillionaire “Wholesale Man” is experientially better than your current reputation as “Slum Lord RV Manager” and I say this in all due respect as it’s not what you should be doing and you already know that RV park is an albatross and a losing liability! Sometimes it is time to grow up, to put partying and drinking behind us and to grow into a position as a productive adult.

In order to do a million dollars a year in revenue you need to turn 150 homes a year at $7,500 a door average or 1 every two days if you put in a 6 day work week. So 3 homes a week makes you a million dollars in pre tax revenue, after taxes your business would still have a theoretical value in excess of 1 million dollars.

You see the poor me, poor me I can’t do it is baloney. You are settling for being poor, mediocre and an under achiever.

Those lucky people you refer to who own businesses and are hardly ever their put in there time and effort early in life, understand how to manage their investment from afar and have the financial ability to weather a storm. They did not become successful overnight, they put long hours and their best efforts and resources into building there position, no one gave it to them, they earned it!

If you had millions of dollars to afford to pay a staff you could hire people, you will not achieve your goals sitting on your hind end and you won’t find people to work with you if you don’t put in the effort first. Earn respect, don’t expect respect!

Either work hard or stop posting but stop sniveling, crying and complaining and start putting in 12 or 15 hour days doing what needs to be done!

There are fellow investors on this web site working full time jobs and going home and working another 5 hours a night on wholesaling real estate and then working on Saturdays and Sundays around little league games and dance recitals who are going to be successful. But it takes dedication to accomplish this!

                         Gold River

Wow, Goldriver, you got me pumped up. Your wasting your time with Redstar, a person headed to success wudnt have to be told what to do, when and how to do it. They get their ass in gear and figure things out, they fail many times but because they are not failures they eventually succeed.
We tried to explain this to Redstar many times, he obviously does not have what it takes, the clue is the endless excuses and justification for his trailer park life.
We tried, let’s offer assistance to those who are not so pitiful.
Let Redstar wallow in his excuses and complacency and pitifulness.
He’s not willing to work 60 hours a week to become wealthy?
I am, we all are, everybody on this forum can feel sorry for Redstar, but nobody can help him.
Let’s make some Money.

Rando

12 -15 hour days doing what? Sitting around waiting for calls that never happen?

It would be different if I had gotten even a single phone call.

There is no “action” to take? Should I buy more signs and put them out so that no one will call me?

I don’t have money to mail to absentee owners.

Hi,

I think I am now glad you didn't finish college! To think you could have been the guy with his finger on our nuclear arsenal? Wow!!!

Your right, you should sit around, drink six packs of cheap rot gut beer and tell stories all day about your adventures and conquests! It would be appropriate and befitting, it’s your apparent goal in life, it put’s you right where you want to be! Ripped shorts, a tank top, that silly oversized wallet, and those boots with no socks! It’s about the way I imagine a illegal 8 unit RV park manager!

In fact I think I should stay for vacation at your RV park, rent a 5th wheel, I can sit out front and roll a smoke, maybe take a pinch of chew and burp and fart all afternoon! This is what I aspire to do in my next life! And to think I could get a bottle of thunderbird and tell the ladies were going first class tonight!

A man can dream can’t he???

The reality is there is much to do, but being lazy, unmotivated and ok with the status quo is not some of them!

Sometimes a man has to prioritize what he wants out of life? If the current level of living works god bless you!

I think I will stick to applying myself and continue to grow, learn and reach for the stars!

                 GR

There’s no more drugs in my trailer park, I kicked them all out…

And I’m never even there… Maybe once per week, twice tops…

I suppose I could replace some of my signs which have blown over by now…

Hire some more bird dogs…

Go to the county clerk and find those targeted lists…

Redstar,

There are plenty of reasons we aren’t successful. Most are boring and repetitive: You lack experience, have crappy genes, need more money, your lazy, etc… If you want those same mundane reasons you’re in the wrong place, you won’t find them here.

You’re still looking for short cuts or get Rich Quick Schemes. Any successful business person will tell you that it takes time, effort and dedication. WE are all trying to help you be successful in spite of yourself. YOU are just looking for shortcuts.

The only short cut you’ll ever need is so useful it puts any other short cut to shame and I can give it to you right now…

Ready?

Wait for it…wait for it…

There are no shortcuts.

I’ve gotten no responses from anything that I’ve done…

How do you get most of your deals?

How many deals have you done in the past year and what sources did they come from?

Hi,

See at the top of the wholesale section it says "Pages: [1] 2 3 ... 308!"

Start reading at 308 all postings and answers, then read 307, then read 306, then read 305, then read 304, 303, 302, 301, 300, 299, 298, 297, 296, 295, 294, 293, 292, 291, 290, 289, 288, 287, 286, 285, 284, 283, 282, 281, 280, 279, 278, 277, 276, 275, 274, 273, 272, 271, 270, 269, 268, 267, 266, 265, 264, 263, 262, 261, 260, 259, 258, 257, 256, 255, 254, 253, 252, 251, 250, 249, 248, 247, 246, 245, 244, 243, 242, 241, 240, 239, 238, 237, 236, 235, 234, 233, 232, 231, 230, 229, 228, 227, 226, 225, 224, 223, 222, 221, 220, 219, 218, 217, 216, 215, 214, 213, 212, 211, 210, 209, 208, 207, 206, 205, 204, 203, 202, 201, 200, 199, 198, 197, 196, 195, 194, 193, 192, 191, 190, 189, 188, 187, 186, 185, 184, 183, 182, 181, 180, 179, 178, 177, 176, 175, 174, 173, 172, 171, 170, 169, 168, 167, 166, 165, 164, 163, 162, 161, 160, 159, 158, 157, 156, 155, 154, 153, 152, 151, 150, 149, 148, 147, 146, 145, 144, 143, 142, 141, 140, 139, 138, 137, 136, 135, 134, 133, 132, 131, 130, 129, 128, 127, 126, 125, 124, 123, 122, 121, 120, 119, 118, 117, 116, 115, 114, 113, 112, 111, 110, 109, 108, 107, 106, 105, 104, 103, 102, 101, 100, 99, 98, 97, 96, 95, 94, 93, 92, 91, 90,
89, 88, 87, 86, 85, 84, 83, 82, 81, 80, 79, 78, 77, 76, 75, 74, 73, 72, 71, 70, 69, 68, 67, 66, 65, 64, 63, 62, 61, 60, 59, 58, 57, 56, 55, 54, 53, 52, 51, 50, 49, 48, 47, 46, 45, 44, 43, 42, 41, 40, 39, 38, 37, 36, 35, 34, 33, 32, 31, 30, 29, 28, 27, 26, 25, 24, 23, 22, 21, 20, 19, 18, 17, 16, 15, 14, 13, 12, 11, 10, 9, 8, 7, 6, 5, 4, 3, 2, and read all posts and answers on page 1

This should keep you busy 12 to 15 hours a day for the next few weeks finding the answers to your questions, their all in here!!!

                          GR

I read some…

A bunch of repetitive stuff about how to handle bird dogs…

Nothing that tells me HOW TO FIND A HOUSE RIGHT NOW…

Other than… Replace my signs after they fall down, keep doing Craigslist, start a mailing campaign that I don’t have money for…

The only way I can actively look for houses right now is the MLS, Craigslist, and fsbo.com…

I could reopen my bird dog campaign, which last time just got me addresses with no owners… Most of which were bank owned and I was initially told that bank owned is a waste of time, but the one that you found was bank owned…

And while we’re at it, when my dad dies (which I don’t really want to talk about), I’ll be inheriting a lot more than an RV park… He owns 20% of a utility company that generates $60 million in profit per year and counting…

How did he do that? He woke up 9 - 5, and was with them through near bankruptcy many times before things finally turned out right after 20 years of sitting in an office staring at a computer every day…

Ah, so now we have it, the poor little rich kid, has been spoon fed and wants the easy path to riches.
Well, la dee da. It finally makes sense, I put up signs and no body came, Boo Hoo. Even his trailer park job has been given to him.

How did I get my last few deals? Bandit signs, bird dogs, and direct mail. I got about 60 Grand in deals coming in, do I sit on my ass and wait, well yea but I also got another 1,000 post cards going out this morning, I’m still recruiting bird dogs, and I need to get my lazy ass out to putting up more signs.
If I had a rich daddy I wud probably have a sucky attitude also.
For the rest of us, let’s hunker down and make some money…

Rando

I wasn’t born rich… My dad got rich 5 years ago…

I make less than the average salary in the country…

I’ve worked in other ways… Ready to take it easy… Not about to spend my life driving around for houses…

It would be nice if I would get a single call from one of my advertisements…

Just got my first call from one of my signs…

It was another wannabe wholesaler…

I was told by another wholesaler to expect that 90% of the calls would be from other wholesalers…

Red,

I’m curious, when you put out your signs when and where do you put them? In another post, you said you put them at major intersections, Wal Mart, etc. These are all great places, but there’s more to it than that. You have to BLANKET an area sometimes with these things. So if you targeted an area with major retail, you’d put out 25-100 signs in that couple square mile radius.

Say you have an area that is comprised of three major roads; one busy road goes north to south for 2 miles, another busy road goes east to west for a mile, then another major road goes north to sour for another 2 miles.

You’d start on the first north to south road, placing these signs at pretty much EVERY intersection. Not just the busy ones. Then you’d make sure to hit the major retail stores hard. I put about 7-8 just around Wal Mart alone.

On the road going east and west you’d do the same thing, as well with the other north to south road. You need to get theses areas knowing that YOU buy houses. You dominate an area, you become the area. All roads lead to Red when it comes to buying houses in this area.

If you put out a few signs here and there you’ll see no results. Also, be consistent and don’t give up. People call months after they have seen your signs, but if you’ve only put out a few in this area it doesn’t give them enough time to know YOU BUY HOUSES IN THIS AREA. ALL ROADS LEAD TO RED IN THIS AREA.

I don’t have enough money to cover Orlando that way…

Unless (here’s a bright idea), I blanket a certain low income area like Pine Hills, Sanford, or both…

I also just got a response from a motivated property finder that has sent me 5 potential deals just today… They were from Craigslist and I haven’t been able to get in touch with the owners yet, but he said if this arrangement works, he would do it for years…

He thinks I’m a rehabber… I’m afraid to tell him what I do because he’s smart enough he would probably do it himself…