Offering a helping hand to new wholesalers

Wholesaling
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Offering a helping hand to new wholesalers

Jack Lander
Wholesaler · Orange County · Member since 2022 · 31 posts · 29 votes

I hope this message finds you well. I wanted to extend a helping hand to newcomers who are considering entering the exciting world of real estate wholesaling. Having gone through the journey myself, I understand the challenges and questions that can arise when starting out and how overwhelming it can seem. If you're new to the world of wholesaling and looking for guidance, I'm happy to help with any questions or pointers.

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Don KonipolBusiness Member
Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
2y

The poster wants to help everyone a month ago, and hasn’t been heard from since. Probably found a real job and gave up “wholesaling”. 

Private Mortgage Financing Partners, LLC
WebsiteView Page
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  • Sandra Tatum
    Member since 2023 · 3 posts · 0 votes
    2y

    Jack, thank you for extending a helping hand.  I would love to connect.  I am new to real estate, and I would like to enter the world of wholesaling first. 

    0Reply
  • Lynn Y.
    Member since 2023 · 6 posts · 1 vote
    2y
    @Jack Lander Hello Id love some help Im in the Clark County, Nevada area but I also want to eventually virtual real estate too
    1Reply
  • Jose Roman
    Member since 2023 · 1 post · 0 votes
    2y

    I can wrap my head around the concept, but worried about legality.

    How do you create your contracts?

    What do you do if you can't find a buyer?
    -How do you let the original person on contract know, and let them down?

    How do you ensure you're being paid and everything is legitimate?

    Are there softwares you use to get leads?
    -What software or tools do you need? Costs?

    Do you call them yourself?

    What's been your best way to source leads?

    How does your call structure or call script generally go?
    -Typical objections? Ways to overcome? 

    Most of all thank you I'm so new to this. 

    0Reply
  • Shirley P.
    Member since 2023 · 4 posts · 4 votes
    2y

    hi jack..really appreciate your offer to help newbies. im in OC, CA as well. how can i get in touch with you on a potential deal - on market fixer.

    1Reply
  • Khang Vang
    Member since 2023 · 10 posts · 6 votes
    2y

    Thank you, Jack. I sent you a message. Looking forward to speaking with you. 

    0Reply
  • Kyle Aaron Beiter Jr.
    Member since 2023 · 25 posts · 12 votes
    2y

    Hi, some help would be great. I have multiple questions, such as how to build a good investor list, how to write up contracts, and how to make sure investors don't go around you

    0Reply
  • Don KonipolBusiness Member
    Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
    2y

    The poster wants to help everyone a month ago, and hasn’t been heard from since. Probably found a real job and gave up “wholesaling”. 

    Private Mortgage Financing Partners, LLC
    WebsiteView Page
    5Reply
  • Spencer Greogory
    Member since 2023 · 7 posts · 0 votes
    2y

    Hey Jack, if you have time I would love to connect and get some pointers from you about starting in wholesale real estate. I am new to this strategy and if you would like to help me with the ins and outs of it all that would be great. 

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    2y

    All if you need help wholesaling, just ask your questions here in the open.

    We wholesale very differently, and we do it the correct way. We don't lie, we are transparent and honest. and I want to show people how to do it.

    just ask your questions here and I and many others I am sure, will try to help so just ask your questions here.

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    2y
    Quote from @Kyle Aaron Beiter Jr.:

    Hi, some help would be great. I have multiple questions, such as how to build a good investor list, how to write up contracts, and how to make sure investors don't go around you


     Ask away. How can I help?

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    2y
    Quote from @Shirley P.:

    hi jack..really appreciate your offer to help newbies. im in OC, CA as well. how can i get in touch with you on a potential deal - on market fixer.


     I think I already helped you on this correct?

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    2y
    Quote from @Jose Roman:

    I can wrap my head around the concept, but worried about legality.

    How do you create your contracts?

    What do you do if you can't find a buyer?
    -How do you let the original person on contract know, and let them down?

    How do you ensure you're being paid and everything is legitimate?

    Are there softwares you use to get leads?
    -What software or tools do you need? Costs?

    Do you call them yourself?

    What's been your best way to source leads?

    How does your call structure or call script generally go?
    -Typical objections? Ways to overcome? 

    Most of all thank you I'm so new to this. 


    1). You can create a contract from a contract builder software, but I would just go to your local real estate agency and get a standard purchase and sale agreement and just make sure it is assignable

    2). If you do wholesaling right there CAN'T BE a scenario where you can't find a buyer. Sit down son, let Master Jerryll skool you on this. 

    Everyone focis. There is only ONE rule when it comes to wholesaling.

    "Never sign a contract unless the contract is a home-run deal". If you abide by this rule you will make milions.

    Here, look at some of my purchases.

    I buy houses from 7 cents to 20 cents on the dollar. Every time I wholesale a deal I make anywhere between $50K to $100K per pop. How? I ONLY sign home run deals.

    The question then becomes. How do you sign a contract at homerun deals? It is all about lead generation. You need to find REAL motivated sellers.  It starts with a bit of a definition of what a motivated seller is.

    A motivated seller is not someone who wants to, needs to or has to sell their house. A motivated seller is anyone willing to sell their house below market value. THAT IS THE ONLY definition of a motivated seller. So a motivated seller is not someone who has a reason to sell their house right?

    Foreclosures, absentee owners, probate tax liens, NOT motivated sellers. That is the biggest mistake ALL investors make. They think that just because someone is in foreclosure they suddenly are a good prospect or even a good lead. That is factually wrong.

    So how do you get home run deals under contract? Focus on motivated seller lead generation.

    3) DO NOT USE SOFTWARE to get leads.  That is the BIGGEST scam of them all. Tell me this. Do soeftwares discriminate? No.

    OK then if Propstream "worked", why is not everyone with a propstream membership a multimillionaire? and 2). Why do you STILL need to send 1000, 2000, 3000 mailers calls or text to "leads" prop stream generates for you to get ONE deal?

    This what I have said thus far is stone-cold solid data. No room for arguing no room for debate. Just data.

    But now let me explain to you WHY no software can help you.

    Pay attention. Would you sell me your house for 20 cents on the dollar? No? Dang it fine. You are not a motivated seller I suppose.

    Now knock on wood, god forbid somethign happens to you tomorrow and you become motivarted.  My question is this. WHO knows that you just became motivated?

    NO ONE! Only you.

    NOTHING can target motivated sellers because no one, no gadget, no software, no MLS hack, no AI knows when you become motivated. It is just an illusion with all the hype in tech.

    4)< You asked for call structure. I have recorded all my calls. I will share my deal-making calls on the community I am building. I am not sharing this to the Biggerpockets forum though. I can't mention my community here due to BP rules. But it is easy to find.

    Good luck

    0Reply
  • Devin Aikens
    Member since 2018 · 22 posts · 9 votes
    2y
    Quote from @Jack Lander:

    I hope this message finds you well. I wanted to extend a helping hand to newcomers who are considering entering the exciting world of real estate wholesaling. Having gone through the journey myself, I understand the challenges and questions that can arise when starting out and how overwhelming it can seem. If you're new to the world of wholesaling and looking for guidance, I'm happy to help with any questions or pointers.


    Thanks for this post, Jack! I'm absolutely considering jumping in this space in the Georgia area and definitely looking for mentors, connections, advice, and guidance! 🙂

    Dev
    0Reply
  • Jack Lander
    OP
    Wholesaler · Orange County · Member since 2022 · 31 posts · 29 votes
    2y
    Quote from @Don Konipol:

    The poster wants to help everyone a month ago, and hasn’t been heard from since. Probably found a real job and gave up “wholesaling”. 


     I help everyone that reaches out and sends me a direct message. I do have to be better about responding to forum comments though. Still wholesaling full time, but reconsidering it and may just sit on forums all day long now. Any tips for me? 

    0Reply
  • Jack Lander
    OP
    Wholesaler · Orange County · Member since 2022 · 31 posts · 29 votes
    2y
    Quote from @Devin Aikens:
    Quote from @Jack Lander:

    I hope this message finds you well. I wanted to extend a helping hand to newcomers who are considering entering the exciting world of real estate wholesaling. Having gone through the journey myself, I understand the challenges and questions that can arise when starting out and how overwhelming it can seem. If you're new to the world of wholesaling and looking for guidance, I'm happy to help with any questions or pointers.


    Thanks for this post, Jack! I'm absolutely considering jumping in this space in the Georgia area and definitely looking for mentors, connections, advice, and guidance! 🙂

    Dev

     Hey! 

    Georgia is a great market. I do cash deals, subto, seller finance, and use about every marketing channel other than TV commercials and radio. 

    Let me know what specifics you have or feel free to send me a direct message. 

    I can help underwrite, close and dispo to buyer. I have investorlift cartel mode so moving properties to buyers is never an issue 

    1Reply
  • Jack Lander
    OP
    Wholesaler · Orange County · Member since 2022 · 31 posts · 29 votes
    2y
    Quote from @Spencer Greogory:

    Hey Jack, if you have time I would love to connect and get some pointers from you about starting in wholesale real estate. I am new to this strategy and if you would like to help me with the ins and outs of it all that would be great. 


     Hey Spencer, happy to connect. Ill reach out to you and we can hop on a call sometime. 

    0Reply
  • Jack Lander
    OP
    Wholesaler · Orange County · Member since 2022 · 31 posts · 29 votes
    2y
    Quote from @Shirley P.:

    hi jack..really appreciate your offer to help newbies. im in OC, CA as well. how can i get in touch with you on a potential deal - on market fixer.


     Send me a message, happy to take a look and see if I have a buyer for it. 

    0Reply
  • Devin Aikens
    Member since 2018 · 22 posts · 9 votes
    2y
    Quote from @Jack Lander:
    Quote from @Devin Aikens:
    Quote from @Jack Lander:

    I hope this message finds you well. I wanted to extend a helping hand to newcomers who are considering entering the exciting world of real estate wholesaling. Having gone through the journey myself, I understand the challenges and questions that can arise when starting out and how overwhelming it can seem. If you're new to the world of wholesaling and looking for guidance, I'm happy to help with any questions or pointers.


    Thanks for this post, Jack! I'm absolutely considering jumping in this space in the Georgia area and definitely looking for mentors, connections, advice, and guidance! 🙂

    Dev

     Hey! 

    Georgia is a great market. I do cash deals, subto, seller finance, and use about every marketing channel other than TV commercials and radio. 

    Let me know what specifics you have or feel free to send me a direct message. 

    I can help underwrite, close and dispo to buyer. I have investorlift cartel mode so moving properties to buyers is never an issue 


    Now that sounds awesome. Thanks Jack. I may reach out soon! In the meantime, I'll send you a connect.
    0Reply
  • Leroy Abrahams
    Birmingham, AL · Member since 2020 · 8 posts · 3 votes
    2y

    Would love some help. Trying to work more with willing realtors to avoid all the cold calling and want to avoid putting down any earnest money.  I’m actually making some progress, but have a few questions.

    1. Do I need to get the seller to reduce to their price so that I could add my wholesale fee, even if the MAO is >$15k above asking price.

    2. Is it advisable to get a pre-commitment form signed by a prospective assignee before entering into a contract to protect my risk?

    3. Is there a specific assignment form that needs to be used in each state?

    0Reply
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