Posted almost 10 years ago

Outline for wholesaling

I am out of the country at the moment but my wife has been harping on me to get organized, make lists, yadda yadda yadda.... well to her pleasure I have finally gotten around to it, and don't tell her, but I have to admit it feels better. More structured.

I have done a few sales so far but it has really been extremely unorganized and was just based on my ability to study the market and figure what will do well for me. The aftermath of trying to add up expenses was horrible. So when I come back to sunny, (too) sunny Arizona I will be ready to hit the ground running.

FINDING PROPERTIES (NEED A WAY OF AUTOMATION FOR GATHERING DATA)
- MAILERS
  - FORMAT (WHAT DOES IT SAY)
  - LIST OF SELLERS: (COUNTY CLERKS WEBSITE)
    - OUT OF STATE HOMEOWNERS
    - PREFORECLOSURE
    - NOTICE OF DEFAULT
    - PROBATE
  - SUPPLIES
    - WEBSITE TO PRINT OR
      - TO MAIL FOR US OR NOT
    - YELLOW POSTCARD PAPER
    - INK CARTRIDGES
  - MAILING
    - DIRECT MAILING USPS
      - HOW DOES IT WORK?
    - SOMEONE MAIL FOR US
    - WE MAIL AT NORMAL COSTS (34c)
- NEWSPAPER
  - OBITUARIES
  - NOTICES
- MLS
- ADVERTISING ON:
  - CRAIGSLIST
  - FACEBOOK
  - WEBSITE
  - NEWSPAPER
  - BANDIT SIGNS
- BUSINESS CARDS WITH OTHER BUSINESSES
FINDING BUYERS
- CHECKING COUNTY CLERKS OFFICE:
  - SINGLE FAMILY RESIDENTS
  - RENTALS
- AVERTISING ON WEBSITE
- CRITERIA NEEDED FOR BUILDING LIST:
  - BUYERS NAME
  - PHONE NUMBER
  - WEBSITE
  - TYPE OF PROPERTIES THEY INVEST IN
  - PRICE RANGE
  - CASH OR CONVENTIONAL LOAN
  - NORMAL RATE OF CLOSING
THE PROCESS
- SETTING UP A PHONE NUMBER
- ANSWERING MACHINE
  - WHAT WILL IT SAY?
- RETURNING THE PHONE CALL
  - WHAT INFORMATION TO GATHER? (MAKE A FORM)
- SENDING A CONTRACT
  - WHAT WILL IT SAY?
  - HOW FAST WILL I CLOSE?
  - EARNEST MONEY DEPOSIT
  - CAN I USE DOCUSIGN?
- CALLING BUYERS
  - HOW WILL I PROPOSE THE PROPERTY TO THEM?
    - AUCTION
    - SET PRICE
    - BEST PRICE
  - SHOWING THEM THE PROPERTY
    - OWNER SEND KEY?
    - LOCKBOX?
    - DO I NEED ANOTHER CONTRACT/DOCUMENT FOR THAT?
- ASSIGNING TO BUYER
  - CONTRACT TO ASSIGN
  - NONREFUNDABLE PERCENTAGE DUE UPFRONT
- CLOSING
  - HOW DO I GET PAID
  - HOW DO THEY CLOSE
  - WHAT CLOSING COMPANY DO I PREFER
- FOLLOW UP WITH THE BUYER
  - WERE THEY PLEASED?
  - WOULD THE RECOMMEND ME?
  - ANY ONE THEY WOULD RECOMMEND AT THE MOMENT?
  - SEND THEM A THANK YOU WITH A BUSINESS CAR

Any feedback would be great... I'll do my best to send updates on how/what I accomplish from each section as I go along

Outline for wholesaling

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