I downloaded the free audio (app 1hr teleseminar) about wholesaling from Vena Jones-Cox. It appears this teleseminar was app. 1 year ago. I am considering a purchase of Real Estate Goddess Guide to Wholesaling Real Estate. Has anyone purchased this? How was it? Have you applied any of the info? Just curious, to me wholesaling seems like the best way to start for a new investor like myself. Can I even call myself an investor yet? (laughing) Also, if not Vena’s program do you recommend any other wholesaling programs.
I have Vena’s course, which I bought off of ebay. I think she is very thorough. Steve Cook also has a very good course. I think that these 2 were the best I have read
I just won my bid on ebay last night, I can’t wait to get it in the mail. Have you put any of the methods to use yet?
I have gone through both of her courses and she is very thurough, the only problem that I had with her course was a lack of new ideas for finding buyers, she has like 12 hours of audio and countless pages of info, but falls very short in new and innovative ways to find buyers which to me is like 70 percent of the wholesaling equation. Other than that it was good.
So every thing else is pretty easy to apply? Being a beginner it’s important to find a program I can easily implement. My plan is to learn her system inside and out. I think my biggest struggle initially will be finding the deal. I am enthsiastic as many new investors are. Which is the correct way?? Find the deal then the buyers or find the buyers then the deal? I am thinking the latter is correct.
I have both her wholesaling and advanced wholesaling courses. I think she does a great job, very organized and professional. She also sends you monthly CD’s with more to learn from her radio program.
I hadn’t really thought about the buyers, but I guess she doesn’t emphasize that much. What I’ve found is, it’s really true that if you find a good deal, the buyers will come. Just from an ad in the paper. So yes, the latter is correct.
I also like Steve Cook. I’m on his www.flippinghomes.com website a lot. You can always ask any questions you want there, as well as here.
The trouble with finding deal and then finding buyers is that our current real estate market is loaded with deals, and buyers are far more scarce, that’s why there is so many deals in the first place.
Without buyers lined up ahead of time you can quickly become burnt out on the wholesaling process because you are endlessly tracking down deals. Not to mention that without buyers you don’t actually know what type of deals that you need to track down. Do you look at million dollar homes, $20,000 homes, or $200,000 homes?
One more major aspect that Venas “find a deal and the buyers will come” method leaves out is the leverage of having buyers is far greater than the leverage of only finding deals. One good buyer might buy 10 homes from you while one good deal is good for one good deal. I have had buyers purchase as many as 12 homes from me.
Another problem with the “Find a deal and the buyers will come” method is that typically you are on a limited time schedule for using your escape clause, most escape clauses that banks will allow are a week to 10 days, news papers run on a 7 day cycle in many markets, or the most read paper, the sunday paper is once every 7 days so you are essentilly left with one classified ad to get rid of your deal.
I agree with Vena’s system in many aspects, but as you said she doesn’t really focus much on buyers, and that is at least 50% of the wholesaling success equation, and in todays quickly falling real estate market, buyers are far more scarce then great deals making finding buyers about 70% of the success equation.
Just some thoughts.
Lately her radio show and and trainings (webinars) have been focused on how to find more buyers in this market. She has a long list of buyers, but they are EACH buying less per year, so she is using more buyers. You can always run an ad “looking for re investors” and see who calls and see what they’re looking for.
Thanks for the feedback. Interesting posts Pam and Eric, it’s sounds like I need to network as much as possible and focus on finding exactly what the buyers want. How specific will I need to be whenasking buyers what kind of deals they are looking for? I am sure each buyer will dictate that.
Definately check out flippinghomes.com. I just finished Steve Cooks Wholesaling course and it was detailed, step-by step and filled with real world examples. On his website, he actually participates as well as other seasoned folks who are willing to help new folks like us. I’m about to submit my first few offers so we’ll see. As Steve say’s in his course, after you’ve educated yourself the key is to submit offers; a lot of them. Most will get rejected but that’s ok, eventually some will. Anyway, I’m Vet_Investor on there. Stop by and dig in and best of success to you!
Regards,
Bill
Thanks Bill! I am hearing nothing but good things about Steve Cook. Are you guys on his payroll? j/k I am going to check out his site. Thanks Again!
I WISH I was on his payroll!! He’s just a good guy who truly seems to want to share with and help others succeed.
Usually, when I talk to an investor, I ask where they like to buy, do they want full rehabs, partial, just cosmetic? What is their usual price range? How are they funding deals, is it cash, can they close fast? They tend to like to go into some detail on what is attractive to them.
I like Vena’s course, also - very good. She released a special report recently that discusses how to change with the current market.
I don’t have Steve Cook’s course, but I’ve listened to him online and on tele-seminars. He seems to cover everything very well. The one thing he takes a step further is that he lines up hard money and local lenders for his buyers so that they can more easily and more often purchase properties, many times with no money down.
Ben
I am waiting for my Vena course to come in the mal. It looks like I am going to purchase Cook’s next. Thanks
GETS ERICS COURSE BEST BANG FOR BUCK :biggrin
I have Vena’s course. Her course is very detailed especially when it comes down to using different MAO formulas and how to comp properties. I give her course a 9 out of 10 stars. The only reason why it isn’t a 10 is because as eric said, it does fall very short on how to find investor buyers. But the course is still one of the top four wholesaling courses among real estate investing education easily.