Wholesale
i wouldnt look for an attorney yet unless you think you need one. i would spend that money on a marketing campaign so you can get some leads coming in.
go on craigslist
form some partnerships with other investors. tell them youll do most of the leg work as long as they can help you do a deal and then split profits 5050 or something. if you are low on funds tell them to fund your marketing campaign and youll send them all the leads you get.
before starting your marketing campaign i would go on craigslist and just talk to people. 99% of the people on there are not going to want to sell their home for cheap, but it will give you some good experience on the questions that you need to ask and it will give you a feel for who is motivated and who is not
Originally posted by @Account Closed:
i wouldnt look for an attorney yet unless you think you need one. i would spend that money on a marketing campaign so you can get some leads coming in.
go on craigslist
form some partnerships with other investors. tell them youll do most of the leg work as long as they can help you do a deal and then split profits 5050 or something. if you are low on funds tell them to fund your marketing campaign and youll send them all the leads you get.
before starting your marketing campaign i would go on craigslist and just talk to people. 99% of the people on there are not going to want to sell their home for cheap, but it will give you some good experience on the questions that you need to ask and it will give you a feel for who is motivated and who is not
Hi Gary Wilson,
I also researching about wholesale and need to get started. I thought of just diving into it an send yellow letters.
What do you mean by " go on craigslist" is to start the buyers list?
thanks
Jose Fuchen
Originally posted by @Account Closed:
if you are low on funds tell them to fund your marketing campaign and youll send them all the leads you get.
This sounds like it would be highly unlikely to happen. I personally wouldn't give cash to someone who hit me up on Craigslist to fund their business.
If you are going to start marketing, make sure you have the funds in place to keep it going for at least six months. If you aren't there yet, I would find some means to save this money up so you can sustain your business in the short term.
500 letters x .75 (cost per letter) x 6 months = 2,250$ in mailing expenses.
The wholesale business is a good one and you can get your first deal by marketing to sellers. You can use different marketing methods to contact sellers, and I recommend direct mail.
Learn the wholesale business and earn while you learn. Read, ask questions and get the help you need as you proceed. If you enjoy the tasks associated with a wholesale business, so much the better. Please feel free to contact me as well as other investors on BP.
Thanks Gary Wilson
i have done it first hand because that is how i got started so i know it works. need to a build a relationship with them first and gain some experience.
go on craigslist to talk to sellers. try and figure out their motivation of how badly they want to sell. start learning how to analyze a deal. like i said, 99% of them are going to be bad leads, but its practice.
when you are talking to them, ask them what they want to sell their house for. ill have zillow open to check the zestimate since its really quick (DONT USE THIS FOR COMPS). i use zillow strictly to see if they are within 10-20kk or so of what they are asking. if they are close to that number, it means its probably going to be a no deal.
if you are looking to build your buyers list, craigslist is a good place as well. most of the ads on there are " we buy houses cash, blah blah blah". send them a message, tell them that you are a wholesaler and are looking for a cash buyer to buy some of the great deals you are finding.
If you're having a hard time finding an attorney and/or title company, reach out to another wholesaler in your area and simply ask who they use to close their deals.
It's not going to cost you anything to reach out to the title company and there's no reason why you should wait. If you do find a motivated seller and they ask you who will be doing the closing you don't want to say, "I don't know, I haven't found anyone yet."
Thanks Derrick Strope
Thanks Victoria Winters
Originally posted by :
i have done it first hand because that is how i got started so i know it works. need to a build a relationship with them first and gain some experience.
Apologies, I did not intend for that to come across as it won't happen. I just meant that it seemed unlikely for most people, I personally feel like you really lobbied well to make this to happen (or luckily just found a very willing partner!).
Thanks Jose Fuchen
Thanks Braden C.
You may have found someone by now, but another way to find an RE attorney who understands real estate investing is to Google it..
It's so simple, it's easy to overlook. Any worthwhile attorney has a website. And those who work frequently with real estate investors have certain terminology in their website copy.. like "wholesalers," "investor-friendly," "double closing," etc.
Search one of those terms + "real estate attorney" + your state
In GA, you're not required to attend closing so the attorney doesn't necessarily have to be in your city. Idk how that works in your state. But hopefully you can find a local attorney this way if you haven't already.
For. Traditional wholesale deals I would recommend a title company. Simply call up your local title company and ask if they do contract assignments or double escrows. If they say no, call the next one. I find tHat the smaller mom and pop title companies are a bit more investor friendly.
Originally posted by @Julio Soto:
Hey BP Members,
I'm looking to get my 1st wholesale deal done. I'm also shopping around for a RE attorney but most I've talked to don't know about wholesaling. Is their anyone on here from the South Jersey area that knows a Attorney who's experienced with wholesale deals?
Thanks,
Julio
Julio, how are you planning to get you first wholesale deal? What is it you needing a Real Estate Attorney for? I'm curious because I was at one point like you... maybe even worse than you. I know how you can get your first wholesale deal but the biggest question is, how much time you have to dedicate to this world of real estate?
Hey @Julio Soto, we use title companies in South Jersey, unless the subject property is north of Trenton. PM me, and I can help you out!!!