So I may just be officially not getting it but when I look on craigslist New Western and Net Worth are EVERYWHERE. I get multiple emails a day from them just in my area. Is it the power of marketing and the dollar behind it. Do they have all the good wholesalers under wrap. This is just a question I have been wondering, they are definitely doing their thing and that's great but what gives. What are they doing that is so special??? Does anyone know? They don't ever use their name until the very end of the conversation so I don't see where the branding power comes in. Any thoughts...
Without providing our business model or coming off as smug, I'll just say that we buy houses any way we can legally. Ultimately our success is predicated on the success of the investors we serve on a daily basis. If our investors aren't making money on the properties they're buying from us, they won't return to purchase more. We work very hard to provide the best deals possible and have a very talented team looking to acquire and sell more properties every day.
Best of luck with the flips and all of your other real estate goals!
I assumed it was magic, lol! I just wondered if there was anything off the grid that is being done but I guess not just hitting it hard and having a lot of people doing it. Awesome!
Best of Luck to you as well!
@Jamie Wooley sometimes the harder people work the luckier they get.
if a person or company is dominating a market then my thought is they are out working the competition.. they would be well capitalized.. smart ( IE well trained and not just on line trained) keep their methods and strategies to themselves don't blab it all over the internet by doing blogs and pod cast etc.. And then just plain working harder than the competition.
This is how I see the folks I deal with in all the different markets I am in do it... I don't deal with all the top dogs but have had my share of arrangements with some of them.. ONe over in Clark County WA in particular... got to get up pretty early to get the deal from him.
I appreciate the insight...I have seen you on BP for a while now and know you are very successful. I didn't expect a magic serum or anything to come from the post. Just thought what the heck and put it out there. I am amazed how they are dominating the market and want to play in the same arena. Although it is large, it is not unobtainable. I will keep pushing forward and do what I have learned. Thanks again!
@Jamie Wooley For sure no one company can take down all of a market that is as big as Houston.. I fund a few flippers there and a turn key company and I have never heard of this company before now and or have never seen them on any of my huds.. I am just a little guy in that market so that is to be expected for sure...
And of course living in Portland Oregon I would not ever look at Houston craigs listing adds.
We have a super competitive market here in PDX and Vancouver and there are a few bigger players but the little mom and pop investors get their share of deals... But its not just as easy as thinking you want to do it and the deals come to you ... Its a lot of work and persistence and sometimes plain luck and then having the capital available to pull the trigger.
I am definitely the little mom and pop operation as of now. I am working very hard to make it a very successful mom and pop but do know it takes time and hard work. I have put in the time educating myself and have got my feet wet too. I am ready to take it to the next level and actively doing so now. I will have my website up next week, social media and then following that up with a direct mail marketing campaign. I hope with these things in place I can work extremely hard and not recreate the wheel. Thank you for your advice and suggestions. Talking to successful people like yourself only reiterates the fact that if I work the system and work it hard there is no reason I can not have the success I am looking for. Luck and capital do play into it and I have capital only time will tell with the luck, lol. : )
@Jamie Wooley I notice your a RE agent... is there any reason you don't take the same time effort and funds to market yourself as an agent.. And thereby create commission income... ?
top agents in your market I am sure do pretty well.. As they do in our market.
Honestly, if I put the effort into being a RE agent as I have REI I would probably be killing it. The reason I don't is the love for REI. My broker thinks I would do very well with luxury homes and I could see that. I know this sounds cliche but there is something to be said about loving what you do. I have done things in the past that I did not care for but made money and that is not what I am after. I love finding the deal, I love rehabbing homes, I love helping people and I love the potential income that can be made if done correctly. At this point in my life I want to be crazy successful and go to bed knowing I am doing what I absolutely love. There are always ways to make money but I am in it for way more than that! The passion that oozes out of me for REI is overwhelming. REI has endless possibilities which all incorporate loving what I do, being successful and having the passive income for the future. To me it's a no brainer! : )
@Jamie Wooley you would not get a charge out of helping people find their dream homes ? or representing sellers so they maximized their investment and did not get taken advantage of by some wholesaler :)
One of the top high end agents here in PDX does both she kills it listing and selling exclusive properties but also will have a few flips going.
She brought me a deal a few years back a big mansion that a basketball star in PDX was losing ( shocker I know) we paid 2 million for it 3/4 done... She was instrumental in putting the deal together and double ended it.. so made 120k on the sale to us. She worked with us and our designers for a year putting it together just right.. I listed it ( I am a broker) for 5 million and she brought in the buyer literally first day on market.. So she made 3 % of 5 million or 150k So that was 270k on ONE transaction in one year.. and of course we did very well on the deal.. But we also wrote a check and closed in 7 days for cash. We put 1.5 million into finishing it. it was on 7 acres so the landscaping alone was 350k.
And of course being a true red blooded RE flipper I went right out and bought an airplane LOL.
But point is she does both and kills it... The commission income allows her to get looks at deals others would never get.. because people call her.. etc etc.
Anyway something to think about. if you have the chance to go into high end sales you may want to look at it a little differently.. plus the connections you make working with those buyers and sellers can be invaluable over time.. they could be your partners on bigger deals. Its how I built my investor base over the years.. I started with zero. My wife never worked etc etc.
I do appreciate the advice and definitely some very good points made. I think right now I am just trying to focus on one thing at a time. Once I get the business running smoothly which should be soon I could see that making a lot of sense. I know you are truly successful and will use the advice you have given me for sure. Thanks again Jay!
@Jamie Wooley NP just trying to throw ideas out there.. best of luck to you in the future.
Thank you Jay!
I'm new in REI as well and share the same passion as you do. I've been actively looking around to buy my first investment property, and can't wait to get that first one under my belt. I'm highly motivated and will not stop at anything! Have you considered doing any business in the Houston area?
@Jamie Wooley As a wholesaler, I often try to work deals out with NetWorth as often as I can. I wouldn't say they have all the good wholesalers but those of us who aren't part of them enjoy working on deals with them.
I haved worked with New Western before, they are great folks. Nevertheless, this pond is so big, EVERYONE can walk away with a sizeable business! I love Houston, I love investing in notes, I love real estate.