Today at 7:54 PM
I’ve been fighting tooth and nail to get some of my deals going. Putting in a lot of hours, mailing thousands of yellow letters to absentee owners, taking dozens of calls everyday and making tons of offers. I do need a secretary. However some times these deals just seem to fall in my lap and it seems to be happening more often lately.
I had a Realtor call me this evening, he said he had heard my name around and wanted to know if I was interested in a small fixer in a good working class area.
I told him those are my favorite.
He explained he just closed on it today and wanted 55K I told him I’ll look it over and get back to him. I immediately sent it out to my 5 cash buyers. No more than 10 minutes one of my buyers emails me back that he’ll take it for $60,000
I’ve done about 10 deals in the last 4-5 months and have a bunch in escrow closing this month and It seems some people are taking notice.
How exciting is that? I can flip a house in 10 minutes for 5 Grand?
Of course I’m meeting the seller at the house tomorrow morning to sign the contract and take a few photos and then forward a contract for my buyer to sign and that’s it, I may have an hour or 2 in this deal. What’s really crazy is my seller is a Realtor and I’m selling to a Realtor, I used to avoid these people like the plague, haha, not any more.
Let’s make some MONEY…
I am so totally new and I am ready to get going on wholesaling. Congrats on your success. I want to be like you when I grow up! :beer
Here are my questions…
Where do you get your list of people to send yellow letters to? I checked my local news paper for legal notices on foreclosures but I haven’t seen much of anything there. I know I can do the bandit signs but I really want to go hard and connect with the homeowners directly as well.
Should I get a buys list together list first? What did you do?
Thanks for an expertise you can offer!
This is so cool! Congrats to you. I’d love for you to add me to your buyer’s list. I work for a Cash buyer buying in all 50 states all Cash. I’d also like to learn from you. email me.
I purchase a list of absentee owners, I get good response from out of state owners but also landlord type people in the same town. a certain small percentage are desperate to sell. My favorites are landlords that have had their house trashed by renters or dealing with non paying tenants.
I get my lists from listgiant.com and pay about 12-15 cents pr name depending on the quantity. A recent list I purchased had 2500 names and cost $300
Sending out letters to these sellers is quite expensive, postage, envelopes and supplies plus paying my girls 15-20 cents can add up quickly.
Then you need a way to deal with the calls and follow ups. Which I’m still working on. Looking for some virtual assistants. to answer phones, fill out the seller questionnaires and look up property values and do much of the work for me so I can concentrate on making offers.
Awesome, Randoskie! Congrats! I absolutely LOVE working with a Realtor - he or she can end up being one of your very best partners in this business. I work with quite a few and I do appreciate them.