Hello all! Glad you took the time time read this. I have just powered through most of Eric’s lessons and am ready to begin building a team to start finding buyers. I think my profession as a commercial estimator will give me an edge in being able to properly forecast costs for rehabs, which in turn should lead to happy investors.
Right now my plan is to visit my local REI club (Thursday of this week), and tap into my realtor & closing attorney contacts to begin finding investors. If all goes well, I hope to begin looking for motivated sellers by the end of the month. Is there anyone in the Memphis area that knows about the Investment club?
Thanks, and any advise would be helpful as well.
My personal advice would be don’t wait till you have a buyers list built before you start looking for deals.
First off, what better way to build a buyers list than by advertising the heck out of a smokin’ hot deal you get under contract? If it’s a REAL deal (ARV*.60-[Rehab Cost]-[Your Fee]=[MAX offer]), you shouldn’t have a problem finding buyers at all.
Secondly, I’m gonna guess that it might take you a few weeks at least before you actually get a deal under contract, so start looking for the deals now and build your buyers list at the same time. By the time you get a real deal under contract you’ll probably have a good sized buyers list in place.
Eric Medemar’s wholesaling course is great, I bought it when I got started and learned a lot. What sort of marketing are you planning on doing to find deals?