Hey BP wholesalers, after taking last year off I will be closing my 1st wholesale deal of the year Friday. I have been actively creating and mailing to probate, bankruptcy and pre foreclosure. Concentrating mostly on probate, some calls came in that I put offers on but no takers. What brought this deal was just making sure people I come in contact w\ know what I am doing. I ran in to a contractor buddy and he asked me how I was doing and in conversation I told him I was active in REI again and he could hardly contain himself to tell me about a seller he knew looking to unload his house and how he couldn't do it. Said he was extremely motivated, drove by that afternoon - met seller 2 days later. Under contract and lock box that day, market to 3-4 serious buyers on my list (that I have sold 2 in past) they went in on their own and had assignment signed 1 day later. Title is back, clean, all attorneys in contact - closing Friday. Feels good to be back in the game.
Congratulations and welcome back to the game.
Congrats, I know this winter has been tough on our business, looking to do another flip soon ourselves.
Congrats on the deal @Bill R. This is a perfect example of why everyone you come in contact with should hear about what you do, you just never know...
How much are you making on the assignment fee?
@Ty Burns Contracted property for 20k, marketed for 40-45k. Buyer I have done business w/ before was at 30k - told him 35k would be a deal. Next morning he committed. 15k assignment.
Bill, congrats! Thanks for the inspiration!
Closed on Friday. On to the next
Congrats @Bill R.
What kind of mailers are you sending out to your probate list?
White letter, more professional type.. or a yellow letter?
I use normal white envelopes, white letters for the first 2 times I send to probate - included is one of my business cards. Then I send my we buy houses postcard as follow ups for the next 3 times. This deal was not from my mailings, but I have closed numerous deals from my pre-foreclosure mailings. Those are yellow postcards that I have made and cut from legal sized card stock at Stapels - they are, You are in jeopardy of losing your house to foreclosure type postcards - have had real good luck with those.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.