Any recommendations on Wholesaling Real Estate

[Andrew Moran]

Any tips on starting out wholesaling in Santa Monica?

[Joe Homs]

@Andrew Moran  welcome to BP.  That's a real open ended question.

LEAD GENERATION

1. Bandit Signs
2. Cold calling
   1. Probates
3. NOD's
4. Direct Mail
   1. Any list
5. Door Knocking
   1. NOD's
6. Website
   1. Buyers
   2. Sellers

TOOLS

Property Radar*

Door Knocking Tags

Contracts

MY PURCHASE RULES

70-80% of ARV depending on cash or finance.

Rehab:

10% of ARV

$45 sqft under 1500sqft

$35 sqft over 1500sqft

Closing Costs 4.5%

What you need to know? LOANS ON PROPERTY

1st TD

2nd – 5th TD

Mechanics Liens

Tax Liens

Child Support & Etc.

WHAT YOU SHOULD ASK?

1. What is happening?
2. What is their situation?
3. What is the ARV, LOANS, EQUITY?
4. How much do they want?
5. How much can you offer?
6. Negotiate, negotiate, and negotiate.

Good Investing...