Pickerington, OH · Member since 2016 · 8 posts · 1 vote
Hi,
I am a newbie wholesaler and have came across a few leads where the sellers have existing mortgages. Consequently, on all the houses I would offer less than what they owe. Any ways to get around this when negotiating?? Also, any resources to learn how to do creative deals wholesaling?
Hi, we recently sold a property in a hot market and didn't list on MLS. We worked with two investor partners who brought 90k to the table each. The mortgage got paid off at closing and we walked away with the difference. The key is having good investors. You will hear the term: JV which means Joint Venture and that is usually a great recipe
Hi, we recently sold a property in a hot market and didn't list on MLS. We worked with two investor partners who brought 90k to the table each. The mortgage got paid off at closing and we walked away with the difference. The key is having good investors. You will hear the term: JV which means Joint Venture and that is usually a great recipe
I am a newbie wholesaler and have came across a few leads where the sellers have existing mortgages. Consequently, on all the houses I would offer less than what they owe. Any ways to get around this when negotiating?? Also, any resources to learn how to do creative deals wholesaling?
Any advice would be great!
Hey Mario! Newbie here as well. But from what I can tell this is where those creative investing offers come into play. You can check out free videos from Phil Pustejovsky that go into good detail about creative wholesaling. Just fyi, he does try to pitch for his coaching program in his videos as well (which may be good for some).
@Danish Ali Hi Danish! Thanks for the advice I will definitely check out his videos. I’m starting to feel like more deals could be made if I knew more creative methods.
Can I also ask you since your new as well what have you found to be your greatest lead source? Are you buying list online and where from?
@Danish Ali Hi Danish! Thanks for the advice I will definitely check out his videos. I’m starting to feel like more deals could be made if I knew more creative methods.
Can I also ask you since your new as well what have you found to be your greatest lead source? Are you buying list online and where from?
I'm still researching the best sources but I'm thinking targeted direct mail and Facebook. This may really depend on your area and I have yet to test this out how well this will work in my market.
Also check out this post from BP for other ideas- https://www.biggerpockets.com/renewsblog/2014/11/08/8-killer-resources-savvy-low-budget-wholesalers/