How to get REStarted...

Bird Dogs, Wholesaling
1

I’m on the upside of having gone through a difficult divorce, failed REI business where I lost several houses & gobs of money. Was practically homeless as a result of the divorce and now… I’m on the upside.

I started a junk removal business and it has been going well but the checks aren’t as large as when I was wholesaling and buy/fix/selling houses.

Recently, I have come into 20K and am looking for a way back into the business. Idealling, Id like to stumble on a way to wholesale a house at a 2,500 - 10,000 profit once every month or two. More if better.

When I was running my REI business in the past I’d frequently buy 1 to fix and wholesale 2 - 3 a month. Times have changed, my cash partners are either broke or I’m afraid they wouldn’t want to do business with me as a result of my past financial issues. I lost 2 houses through foreclosure because I financed the repairs and a couple payments as the tide was turning and couldn’t rent it at a rate to cover the loans and credit cards. So I lost the house and have a couple credit card judgements against me that I can hopefully pay off when the timing is right.

I have put signs up, ads on a few internet sites, setup a website and have been handing out $100 business cards. Without any luck.

Being in Florida most of the houses are over leveraged… so I may be looking for a needle in the haystack for the owners who have loans with equity, own free and clear, etc.

From running my junk removal business I OFTEN am the 1st guy into a house after it has been foreclosed on to remove all of the abandoned items. As a result of this I have established relationships with at least 15 - 20 brokers who list the houses for the banks.

I also have been meeting landlords when they have to evict. I have pitched a few offers (sub 2 and all cash offers with the intent of assigning my contract) again without any luck or accepted offers.

Any other thoughts on what I should do?

2

Congratulations on getting up off the canvas after being knocked down. :beer
With some debts on your back as you describe and a smaller bank roll than you want, I have to think that the $20K you are holding should stay right where it is. . .in your hands.
Take control of some properties via lease options and options, then flip via a Cooperative Assignment. Quick cash in your pocket and your money stays put for a rainy day.

3

Ditto to AJ290’s post. :cool

You’re doing the right thing.

Step up your marketing. This begs the question about what you were doing to find 3 deals a month when the market was overheated? Wouldn’t those same techniques work today? Advertising is advertising, isn’t it? I’m kind of confused by the lack of success otherwise here on that regard.

Anyway, if your current marketing is producing poor results, the only choice you have is to increase the pressure by putting more hooks in the water.

Okay, I’m a little concerned to about your thinking.

Ideally, I'd like to stumble on a way to wholesale a house at a 2,500 - 10,000 profit once every month or two. More if better.

Ideally stumble on a deal…? Really?

Forget that mentality. It’s not luck, it’s work. Otherwise, it will be luck if you find something like that. :anon

Meantime, PUT YOUR MONEY IN THE BANK and treat it like it’s not there. Then go find your wholesale deals. If you actually find true deals nobody is going to care about your previous track record. People don’t care about your problems… they only care how you can help them accomplish their goals right now. :biggrin

Just for giggles, let’s say that your real estate reputation is so bad that you can’t attract a termite to a rotting board. Perhaps it would be time to farm elsewhere? Hey, even Jesus couldn’t perform miracles in his home town… Who knew?

Anyway, whatever you believe …is true. So choose to believe that you can generate something to offer right where you are; give others what they want while as you take everything else.

That’s my philosophy of everything.

I would say, “Good luck,” but that would defeat the point of my post!
:banghead
:beer

4

great one javipa :beer