All Forum Posts by: Brett Fredrickson

I don't have an iPhone, but I do have a Treo 700p.

I love the capabilities of the phone, and the things that it does well. I have some negatives about it, but over all I love the "Smart Phone" concept. When my contract is up, I don't think I'll be getting another Treo, but I also don't think that I would get an iPhone either. I just don't like being forced to use AT&T (or finding an unlocked phone and using a GSM network). I like my Verizon network and service.

But, overall, I won't be without a "Smart Phone". It makes it much easier to be out of the office, yet still be able to get some work done when needed.

As far as the iPhone goes, I'm not a Mac user so, I'd be wondering if I was to try to use one if I would be like my grandparents were like when they first learned how to use email. :lol:

I was thinking of how to start out wholesaleing. I have found quite a few properties that I think would make great investments, but I'm not in the position currently to buy them myself.

So, my question is, how do I put the information about these properties together to offer them to a buyer?

My thought would be to put together a packet of information on each property. Include the purchase price, repair/rehab costs, ARV, prospective monthly rental income, etc...

I guess that I need to know how to catch a buyers eye, yet make sure that I don't get ripped off. My concern is that I find a property and do a bunch of work to find out if it is doable and then find a buyer, and they undercut me or something.

Please enlighten the noob. :help:

There are a few different ones that some swear by. I don't know any of them specifically off the top of my head. I really haven't even looked at leads in depth.

The lead source that contacted me, the one that prompted me to start this thread, was a guy from Money Tree. He explained that I would be the only LO to have access to these leads in Colorado (yeah, right. How do I know that?). And the close percentage was 6-12% (again, how can he substantiate that?). Anyway, he sent me the information via email. As it turns out the company that he works for isn't Money Tree Inc it is MoneyTree Funding. I emailed Money Tree (the large company), and they told me that they had no affiliation with said MoneyTree Funding. So, that ended any possibility of me buying anything from this guy.

Don't get me wrong, I completely agree with your points. Was that the only service that you have used, or did you try a few different lead sources?

On another webboard (broker's, LO's, and AE's only) that I am on, they have some good things to say about some of the lead sources and a lot of bad things to say about the majority of them. The bad things are very similar to your statements.

I guess it just comes down to, YMMV. And, as you have said all along, the best lead source is your self. :groovy:

There you go! That's what I was looking for. :D

I do understand what you are saying about generating your own leads. I am doing a lot of things to do that currently. I brought this topic up because of the phone call (sales call) that I received from this person. I am sceptical of most of these pitches to buy leads, that is why I asked for input. My thought process is/was the same as yours about the "exclusive" leads, etc... Usually, if it's too good to be true it probably is.

But, on the other hand. The lead source that my company has purchased for the LO's in our office has been pretty fruitful for me, not really our other LO's, but I assume that is because I am better on the phone then they are. [/bragging] :mrgreen:

Gee, that was a pretty helpful reply. :roll:

This is a great idea!

Let's set up a day and time to meet.

I work in Broomfield, and live in N.E. Thornton. So, anywhere on the north end would be preferred by me. :D

I received a call from a guy yesterday who found my info on another forum, and he gives me his sales pitch. I'll have to say, it was a pretty good pitch.

I haven't bought any leads before. My company has bought some for us brokers, and they are ok. But, I would like to have some of my own. I am a little hesitant on the cost of the leads, at $1700 for 50-65. They say that they are good leads, and that I should be able to close 6%-12% of them.

I'll give you the company name and a little more info after a few people have chimed in. But, I want to know if anyone has had good to great experiences with certain lead sources.

Does anyone have a pre-purchase checklist, or plan that they use prior to purchasing a new property?

I was thinking of writing down a guideline with a series of checklists to have to help make the decision to purchase or not, what to do after the purchase, plans for marketing for rental or sale, etc...

Here is my brief list:
Pre purchase
-Finding a property
-Evaluating repairs
-Evaluating market value
-Evaluating prospective profit
-Evaluate best way to finance

Post purchase
-Immediate repairs (needed for habitation)
-Long term repairs/upgrades

What else???

I wouldn't worry so much about how much debt you have. I would worry more about your debt to income ratio. If you are making enough money to keep your DTI ratio lower than 40% (even 50% will work, but not ideal), you would be fine investing. If you are way over that, then pay down some debt, get a second job for 6 months, and then look into investing.